Jump to ContentJump to Main Navigation
Islamic Banking and Financial CrisisReputation, Stability and Risks$
Users without a subscription are not able to see the full content.

Habib Ahmed, Mehmet Asutay, and Rodney Wilson

Print publication date: 2013

Print ISBN-13: 9780748647613

Published to Edinburgh Scholarship Online: May 2014

DOI: 10.3366/edinburgh/9780748647613.001.0001

Show Summary Details
Page of

PRINTED FROM EDINBURGH SCHOLARSHIP ONLINE (www.edinburgh.universitypressscholarship.com). (c) Copyright Edinburgh University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in ESO for personal use.date: 30 March 2020

Towards Genuine Sharīc ah Products with Lessons of the Financial Crisis

Towards Genuine Sharīc ah Products with Lessons of the Financial Crisis

Chapter:
(p.222) 12 Towards Genuine Sharīc ah Products with Lessons of the Financial Crisis
Source:
Islamic Banking and Financial Crisis
Author(s):

Abdulazeem Abozaid

Publisher:
Edinburgh University Press
DOI:10.3366/edinburgh/9780748647613.003.0012

This chapter examines the outcomes of Sharī’ah governance in Islamic financial institutions, with emphasis on financial products that have raised objections from Sharī’ah board members, particularly eina (back-to-back sales that are commonly used for housing finance) and tawarruq (method of providing cash advances). It illustrates how the financial crisis has demonstrated the imprudence of such financing methods and argues that eina and tawarruq do not contribute anything to maslahah, the goals of the Sharī’ah.

Keywords:   financial products, Sharī’ah, Islamic financial institutions, eina, tawarruq, financial crisis, financing, maslahah

Edinburgh Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.