Islamic Finance Contracts

This is a largely technical chapter that will provide a broad outline of the different legal structures within Islamic finance. This technical analysis is necessary as unlike the other faiths that are considered in this book, Islam is the religion that has necessitated fund managers and other market participants to produce tailor made documentation for investors.

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Notes

Muhammad Ayub, Understanding Islamic Finance, page 216. Narrated by Ibn Abbas, volume 3, book 35, number 443. Narrated by Ibn Abbas. Harris Irfan, Heaven’s Bankers: Inside the Hidden World of Islamic Finance, page 61.

Mohammad M Alfadhl, Sami Alghoussein, Faisal Alarifi, The Use of Parallel istisn’a Sukuk in Financing Solar Energy Project in Kuwait. International Academic Journal of Economics and Finance, vol. 3, no. 4 (November 2019), pages 204–217.

Al Sarakhsi, Al Mabsut and AAIOFI 2004–2005a, Standard on Mudaraba, clause 4, pages 240–241.

Muhammed Arslan Aqeeq, Islamic Finance from the Ideal of ‘Two Tier Mudaraba’ to a Fixed Returns Model—Rationalising the Blatant Divergence, University of Newcastle (Australia) (October 2015).

Usmani, 2000a, pages 38–41. Harris Irfan, Heaven’s Bankers: Inside the Hidden World of Islamic Finance, page 53. Cambridge Institute of Islamic Finance, Global Islamic Finance Report 2010, page 138.

Resolution Nos. 40–41 (2/5 & 3/5) Concerning Discharging of Promise and Murabaha for the Orderer of Purchase, OIC Fiqh Academy (December 1988).

AAOIFI, Sharia Standard No 1: Trading in Currencies. Fitch Ratings, Islamic Derivatives Increasingly Necessary, but Constraints Remain (17 June 2020). Khaleej Times, Islamic Fintech Transforms Operational Models, Customer Experience (6 July 2021).

Al Arabiya, NCB and Samba Launches Saudi National Bank in Region’s Largest Banking Merger (1 April 2021).

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Authors and Affiliations

  1. Birmingham, UK James Simon Watkins
  1. James Simon Watkins