What is a contract in Islam? Is it an aspect of Muslim religion or of secular life? How much has it changed over the centuries? Undertaking a search that spans revelation, legal tradition, and the reality of the Muslim world, this book explores the Islamic contract (‘aqd in Arabic) as a ‘city’ at the crossroads of convergent paths of translation, comparison, and law in context. In particular, the book shows that only by re-orienting traditional categories of Western law-religion toward the East can an alternative path of discovery for the ‘aqd be advanced. Hence, through a fortuitous encounter with an Arab Girl, the reader will (re-)visit the Temple of Western modernity and explore a city ruled by Towers of dialectical forces, carrying a hermeneutical Ring that combines dialectics, Islamic studies, and media theory. This interdisciplinary approach will not only enrich our knowledge of the ‘aqd but also make it more understandable as a cultural and social construction to which both Muslims and non-Muslims have participated in forging its multiple representations. By inviting the readers ‘to know who they are’ while looking at her, the Arab Girl is already waiting for us to listen to the Islamic contract in a new way. By applying a distinctive law and religion approach to the study of the contract in Islam, the book provides a comprehensive exploration of a topic that is of interest to legal and economic comparatists as well as to readers in anthropology, Islamic and cultural studies, and it is also of topical meaning for today’s international lawyers and the operators of an increasingly multicultural and transnational market.

"What is a contract in Islam? Is it an aspect of Muslim religion or of secular life? How much has it changed over the centuries? Undertaking a search that spans revelation, legal tradition, and the reality of the Muslim world, this book explores the Islamic contract ('aqd in Arabic) as a 'city' at the crossroads of convergent paths of translation, comparison, and law in context. In particular, the book shows that only by re-orienting traditional categories of Western law-religion towards the East can an alternative path of discovery for the 'aqd be advanced. Hence, through a fortuitous encounter with an Arab Girl, the reader will (re-)visit the Temple of Western modernity and explore a city ruled by Towers of dialectical forces, carrying a hermeneutical Ring that combines dialectics, Islamic studies, and media theory. This interdisciplinary approach will not only enrich our knowledge of the 'aqd but also make it more understandable as a cultural and social construction to which both Muslims and non-Muslims have participated in forging its multiple representations. By inviting the readers 'to know who they are' while looking at her, the Arab Girl is already waiting for us to listen to the Islamic contract in a new way. By applying a distinctive law and religion approach to the study of the contract in Islam, the book provides a comprehensive exploration of a topic that is of interest to legal and economic historians and comparatists, but also of topical meaning for international lawyers and the operators of an increasingly multicultural market"--

This innovative and accessible text offers a straightforward and clear introduction to the law of contract suitable for use across geographical boundaries. It introduces the key principles of contract law by comparing solutions from different jurisdictions and has an innovative design with text boxes, colour and graphics, making it a highly attractive tool for studying. This revised second edition has been updated to reflect the most recent changes in the law, including the French reform of the law of obligations and the new UK Consumer Rights Act. A whole new chapter on contracts and third parties has also been added.

This book is a basic treatise for those practising and arbitrating in the legal and commercial aspects of business in Middle East Countries. It examines the influence of traditional Islamic law on modern legislation as it affects trade, contracting, banking and financial operations. This book is highly topical and serves the needs of academics, of legal practitioners and of contractors.

This multidisciplinary book on Islamic finance covers Islamic economic, financial, and legal systems, insurance (takaful), commercial jurisprudence, and the socio-political and political-economy of the Islamic world. It examines the dichotomies and similarities between Islamic and conventional financial systems and suggests future roles and governance of Islamic financial institutions. Distinctive features of the second edition include an emphasis on the theoretical foundations of Islamic finance, the distinctions between the micro- and macroeconomic concepts and theories to the readers, and an expansion on Islamic approved forms of trade dealings, transactions, and contracts. Furthermore, this work discusses the newly introduced Islamic capital market products of the years 2020 to 2022—including the transition from the inter-bank-offer-rates (IBORs) as global benchmark lending rate to the new risk-free-rates (RFRs) that became effective on January 1, 2022—and discusses the transition of Saudi Arabia Monetary Agency to Saudi Central Bank in 2020. Though every effort is made to avoid tedious mathematical proof and derivatives, this work provides working calculations for the pricing of Islamic instruments and provides supplemental materials in the form of faculty resources and students’ study guide and workbook. This work acts as a useful textbook for graduate and advanced undergraduate students who are looking at broadening their knowledge in finance. Similarly, this book is a helpful guide and tool for financial practitioners who are interested in learning more about the innovative discipline of Islamic finance. For financial practitioners to drive maximum benefits from this innovative financing mechanism, they need to know, understand, and participate in the investment opportunities which are provided by Islamic finance.

Arbitration and International Trade in the Arab Countries by Nathalie Najjar is masterful compendium of arbitration law in the Arab countries. A true study of comparative law in the purest sense of the term, the work puts into perspective the solutions retained in the various laws concerned and highlights both their convergences and divergences. Focusing on the laws of sixteen States, the author examines international trade arbitration in the MENA region and assesses the value of these solutions in a way that seeks to guide a practice which remains extraordinarily heterogeneous. The book provides an analysis of a large number of legal sources, court decisions as well as a presentation of the attitude of the courts towards arbitration in the States studied. Traditional and modern sources of international arbitration are examined through the prism of the two requirements of international trade, freedom and safety, the same prism through which the whole law of arbitration is studied. The book thus constitutes an indispensable guide to any arbitration specialist called to work with the Arab countries, both as a practitioner and as a theoretician.

This book describes and analyses the notion of Mahr, the Muslim custom whereby the groom has to give a gift to the bride in consideration of the marriage. It explores how Western courts, specifically in Canada, the United States, France, and Germany, have approached and interpreted Mahr. Although the outcomes of the cases provide an illustrative framework for the book, the focus is broader than simply the adjudicative endeavours. The work explores the concept of liberalism, which purportedly champions individuals and individual choice concurrently with freedom and equality. Tensions between and among these concepts, however, inevitably arise. The acknowledgment and exploration of these intertwined tensions forms an important underpinning for the book. Through the analysis of case law from these four countries, this study suggests that transplanting Mahr from Islamic law into a Western courtroom cannot be undone: it immediately becomes rooted in the countries' legal, historical, political, and social backgrounds and flourishes (or fails) in diverse and unexpected ways. Rather than being the concept described by classical Islamic jurists, Mahr is interpreted according to wildly varied legal constructs and concepts such as multiculturalism, fairness, public policy, and gender equality. Moreover, Islamic law travels with a multiplicity of voices, and it is this complex hybridity (a fragmented and disjointed Mahr) which will be mediated through Western law. Returning to the overarching concept of liberalism, the book proposes that distributive consequences rather than recognition occupy central place in the evaluation of the legal options available to Muslim women upon divorce.

Islamic Commercial Law: Contemporariness, Normativeness and Competence offers new perspectives on why for centuries Islamic commercial law has been perceived as arbitrary and unpredictable, and on its evolution to a contemporary, consistent, reliable and credible body of law. The book also examines why Western positivists have viewed Islamic commercial law in a simplistic or archaic religious framework and counters those arguments with an examination of its normative legal qualities. The work analyses the competencies of Fiqh (jurisprudence) for structuring new financial instruments, and restructuring conventional financial products more equitability.

Sharia Law in the Twenty-First Century consists of concise, detailed analytical studies on current critical discussions of Sharia in the Western and Muslim legal traditions. Contributors to this volume are well-known academics in their fields and have been at the forefront of critical studies on various aspects of Islamic law. Breaking new ground for understanding the dynamics of law and society, most contributors in this volume have influenced current academic discourse on Sharia.The chapters contained within this volume find that globalism and Sharia have been posing challenges to one another. These respective challenges are studied from the perspectives of theory, history and the diverse contexts in which Sharia developed during the twenty-first century. The approach in this book is overall contextual with reference to time and place. For accessibility, unlike other books on Islamic law, Sharia Law in the Twenty-First Century has minimal footnotes and reduced diacritical marks, but offers an essential glossary in an appendix.