Islamic Banking and Interest

Understand the real cause of the financial crisis that is engulfing the world today. This book provides a penetrating look at the banking industry and its role in spreading injustices and misery in the world. Usury is the backbone of modern economic life. See how it, and the mindset behind it, have caused grave damages to the humanity in every walk of life.

Due to significant changes that have taken place in the nature and essence of money and monetary value, and the dominance of interest-based debt financing, the nature of capital and sharing of profit and loss have become complex issues. The book analyses in detail the practical relevance of these in the operation of Islamic financial institutions, and attempts to provide some new insight on the relevant shari‘ah regulations. It studies capital in joint ventures financed by Islamic banks, and scrutinises the method currently used by Islamic banks for determining the profit sharing ratio between the bank and the client.

A collection of 41 articles on critical subjects. Most articles deal with fiqh but others deal with other important subjects as well for example criticism of Perennial philosophy of Martin Lings, Detailed account of a lesser known part of India history dealing with the movement of establishing a Shariah governorate for India (proposed and actively pursued by Abul Kalam Azad), history of qira'at, commentary on the hadith that the Qur'an was revealed on seven huroof, and what is meant by Ism A'zam. Many of the fiqhi articles deal with new medical issues (cloning, cosmetic surgery, test tube babies, organ transplants, artificial insemination) and finance (multi-level marketing, foreign exchange, feudalism, charging interest in darul harb, copyrights, Islamic banking etc.).

A response to questions about and criticism of prevalent Islamic Banking practices.

Learn the permissible and impermissible forms of leasing and the major and subtle differences between them.

Suk (plural: Sukook) is the term used for bonds and certificates. This book is in two parts. Part 1 is an introduction to sukook. Part 2 discusses author's reservations about them.

A valuable treatise on a mode of Islamic Financing known as Murabaha. Explains all technical and practical aspects relating to murabaha in an easy to understand language.

Is there any such thing as Islamic banking? There are people who are saying that it is just a new label for the same old conentional interest based banking. Here is an examination of these arguments. An evaluation of the criticism of current Islamic banking theories and practices.