Buyūt al-Tamwīl wa al-Istithmār wa al-Khidamāt al-Maṣrifiyyah: Murājaʿāt fī al-Manhaj wa al-Ahdāf

بيوت التمويل والاستثمار والخدمات المصرفية: مراجعات في المنهج والأهداف

By Dr. Maḥmūd ʿAbd al-Karīm Irshīd

Published in two volumes, Buyūt al-Tamwīl wa al-Istithmār wa al-Khidamāt al-Maṣrifiyyah: Murājaʿāt fī al-Manhaj wa al-Ahdāf is a substantial scholarly study examining the methodology, objectives, and contemporary practices of Islamic finance. Drawing upon the principles of Islamic jurisprudence (Fiqh al-Muʿāmalāt) and the higher objectives of the Sharīʿah (Maqāṣid al-Sharīʿah), Dr. Maḥmūd ʿAbd al-Karīm Irshīd offers a thoughtful reassessment of the direction taken by modern Islamic financial institutions.

Rather than limiting his discussion to the legal validity of financial contracts, the author asks a broader question: Do contemporary Islamic banks and investment institutions truly realize the economic and ethical objectives envisioned by Islamic law, or have many products become overly dependent on legal mechanisms that closely resemble conventional banking?

The work provides a detailed analysis of the juristic foundations underlying modern Islamic finance, examining widely used contracts such as Murābaḥah li al-Āmir bi al-Shirāʾ, Ijārah Muntahiyah bi al-Tamlīk, Mushārakah Mutanāqiṣah, and Ṣukūk. It also evaluates the widespread reliance on debt-based financing in comparison with partnership-based models such as Muḍārabah and Mushārakah, discussing their implications from both jurisprudential and economic perspectives.

A major focus of the study is the role of the Maqāṣid al-Sharīʿah in Islamic finance. The author examines whether contemporary institutions promote genuine wealth circulation, equitable economic development, productive investment, and sound governance, while also evaluating the work of Sharīʿah supervisory boards and the effectiveness of current regulatory practices.

Beyond theoretical discussions, the book addresses practical issues facing Islamic banks, including retail and corporate banking, investment funds, trade finance, liquidity management, and institutional governance. Throughout the work, Dr. Irshīd proposes constructive reforms aimed at strengthening the connection between modern financial practice and the classical principles of Sunni commercial jurisprudence.

An important contribution to contemporary Islamic economic thought, this two-volume study is an invaluable resource for scholars, researchers, students of Islamic finance, Sharīʿah practitioners, and professionals seeking a deeper understanding of the challenges and future direction of Islamic banking.

Features

• Comprehensive two-volume study of Islamic finance and banking
• Examines both the legal methodology and objectives of Islamic financial institutions
• Discusses major Islamic financial contracts, including Murābaḥah, Ijārah, Mushārakah, Muḍārabah, and Ṣukūk
• Evaluates Islamic banking through the lens of the Maqāṣid al-Sharīʿah
• Explores governance, Sharīʿah supervision, and institutional reform
• Combines classical jurisprudence with contemporary economic analysis
• Valuable resource for students, academics, researchers, and Islamic finance professionals

The Author

Dr. Maḥmūd ʿAbd al-Karīm Irshīd is Professor of Islamic Economics at An-Najah National University, where he has served since 2010. Originally from Palestine, he pursued his higher education in Palestine, Jordan, and Sudan. A respected specialist in Islamic economics and finance, he has authored nine books and published several works examining Islamic commercial law, financial instruments, and the methodology of Shariah compliance in modern financial markets.in leading academic journals, establishing himself as a significant contemporary voice in the field of Islamic commercial jurisprudence and financial studies.