Table Of ContentInterest in Islamic Economics
The definition of the Islamic notion of riba is not offered in the Quran
and Interest in Islamic Economics offers the reader various understandings
of this Islamic economic concept.
With Islamic banking becoming a more influential factor in the West,
an analysis of the concept of riba—generally perceived as interest—is
long overdue. This book provides a framework for understanding riba by
examining:
Linguistics
Classical judicial analysis
The historical context
Modern Economics
Interest in Islamic Economics includes contributions from international
scholars who are prominent within their fields. This book is essential
reading for academics and professionals with interests in Islamic studies,
Banking and Securities, Economics, and Legal History.
Abdulkader Thomas is President and CEO of SHAPE Financial
Corporation which offers Islamic financial products and solutions to
International financial institutions. He also operates the Islamic finance
research site http://www.ajif.org/. He has nearly 25 years of diversified
financial services experience and is a graduate of the Fletcher School of
Law and Diplomacy in international trade and the University of Chicago in
Arabic and Islamic studies.
Routledge Islamic Studies
Historians, State and Politics in Twentieth Century Egypt
Contesting the nation
Anthony Gorman
The New Politics of Islam
Pan-Islamic foreign policy in a world of states
Naveed Shahzad Sheikh
The Alevis in Turkey
The emergence of a secular Islamic tradition
David Shankland
Medieval Islamic Economic Thought
Filling the great gap in European economics
S.M.Ghazanfar
The West and Islam
Western liberal democracy versus the system of Shura
Mishal Fahm al-Sulami
The Regency of Tunis and the Ottoman Porte, 1777–1814
Army and government of a north-African eyâlet at the end of the
eighteenth century
Asma Moalla
Islamic Insurance
A modern approach to Islamic banking
Aly Khorshid
The Small Players of the Great Game
The settlement of Iran’s eastern borderlands and the creation of
Afghanistan
Pirouz Mojtahed-Zadeh
Interest in Islamic Economics
Understanding riba
Abdulkader Thomas
Interest in Islamic Economics
Understanding riba
Edited by
Abdulkader Thomas
First published 2006 by Routledge 2 Park Square, Milton Park, Abingdon,
Oxon OX14 4RN
Simultaneously published in the USA and Canada by Routledge 270
Madison Ave, New York, NY 10016
Routledge is an imprint of the Taylor & Francis Group
This edition published in the Taylor & Francis e-Library, 2006.
“ To purchase your own copy of this or any of Taylor & Francis or
Routledge’s collection of thousands of eBooks please go to
http://www.ebookstore.tandf.co.uk/.”
© 2006 Abdulkader Thomas, selection and editorial matter; the
contributors, their own chapters
All rights reserved. No part of this book may be reprinted or reproduced or
utilised in any form or by any electronic, mechanical, or other means, now
known or hereafter invented, including photocopying and recording, or in
any information storage or retrieval system, without permission in writing
from the publishers.
British Library Cataloguing in Publication Data A catalogue record for
this book is available from the British Library
Library of Congress Cataloging in Publication Data A catalog record for
this book has been requested
ISBN 0-203-48190-9 Master e-book ISBN
ISBN 0-203-69221-7 (Adobe eReader Format)
ISBN 0-415-34242-2 (Print Edition)
Contributors
Abdulkader Thomas is the publisher of the American Journal of Islamic
Finance http://www.ajif.org/ and a leading practitioner of Islamic
finance. As the authorized translator of the memoirs of Dr Ahmed
Elnaggar he holds his primary degree in Arabic and Islamic Studies
from the University of Chicago. Mr Thomas is widely published in the
field of Islamic banking and finance.
M.Akram Khan is one of the pioneers of Islamic Economics and Finance.
He has published widely on various aspects of Islamic economics
including Routledge’s Glossary of Islamic Economics and Finance. He
was Deputy Auditor General of Pakistan until 2003 when he joined the
United Nations’ Office of Internal Oversight. He is currently Chief
Auditor in the United Nation Mission in the Congo.
Vincent J.Cornell is Professor of History and Director of the King Fahd
Center for Middle East and Islamic Studies, University of Arkansas,
Fayetteville, Arkansas. He also serves as Chair of Studies in the
Religious Studies Program at the University of Arkansas. Dr Cornell is
a noted author and lecturer on Islamic studies. His major works include
The Realm of the Saint: Power and Authority in Moroccan Sufism
(Austin, TX: University of Texas 1998) and The Way of Abü Madyan:
Doctrinal and Poetic Works (Cambridge: The Islamic Texts Society,
1996). Dr Cornell is one of the leading contemporary Islamic thinkers in
North America.
Emad H.Khalil is a partner in the law firm of Jones Day resident in the
Singapore office, where he co-chairs the Firm’s Global Projects practice
and the Asia Lending/Structured Finance practice. Mr Khalil has
extensive experience with global Islamic financial transactions.
Iman Abdul Rahim is a professional translator based in Damascus.
Mahmoud A.El-Gamal is Professor of Economics and Statistics at Rice
University, where he holds the endowed Chair in Islamic Economics,
Finance, and Management. In the latter part of 2004, he served as the
first Scholar-in-Residence on Islamic Finance at the US Department of
Treasury. More information about him is available at
http://www.ruf.rice.edu/~elgamal
Najwa Abdel Hadi is a professional Arabic instructor based in Fairfax,
Virginia.
Ruba Alfattouh holds her degree in English from Brigham Young
University and teaches English in Abu Dhabi.
