Discusses deﬁnition, genus and species of riba. Summarises the legal position of the four Sunni schools of ﬁqh and ‘Ibadi ﬁqh on riba. Discusses Islamic law on qardi and gharar. The last part is devoted to the ﬁnancial system of Islam based on musharaka and mudaraba. The author has given an excellent account of the legal position of each school on riba and gharar, bai‘ salam, bai‘ juzaf and hawala, musharaka, ’ijara, ijara wa iqtina and mudaraba. A comprehensive book on the legal aspects of Islamic ﬁnance. For lawyers and Muslim economists. Based on primary sources. Documented.
Monetary and Financial Theory and Institutions