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Islamic Financial Contracts: A Research Companion

Islamic Financial Contracts: A Research Companion

Author: Hussain Mohi-ud-Din Qadri; Nasir Iqbal
Publisher: Routledge
ISBN: 9781032005065

Published In: July 2021
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only
Paperback Edition ISBN: 9781032005096

List Price: AU$403.00

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Description
Contents

Details

Islam encourages business and financial transactions as a way of securing the basic needs for all human beings, but these need to be conducted in accordance with the principles contained in the Qur’ān and Sunnah. However, these legal concepts are not classified subject-wise, and the verses on commercial law, like all other topics, are scattered throughout the Qur’ān, making it difficult for readers to gain a full understanding of the topic. This, therefore, is the first comprehensive book to demystify Islamic Contract Law and specifically Islamic Financial Contracts, and to examine its roots and history.

The book is written in a clear style to allow for greater understanding of the more challenging and misunderstood areas pertaining to Islamic business and financial contracts. It also contributes a series of chapters, which address the market niche and need, concerning Shari’ah compliance for Islamic financial products and services. The book is divided into sixteen chapters in order to provide a holistic and thorough overview of Islamic law of contract. It covers the objections and misconceptions surrounding Islamic business and financial contracts. It also includes the key features and guiding principles of Islamic law of contract and offers technical know-how, illustrating the concept of formation of a contract, as well as the essential elements of a valid contract. The authors also offer a discussion on the system of options under Islamic business and financial contracts and potential solutions to breach of contracts.

The book will serve as handy reference for scholars and students of Islamic business and finance and Islamic commercial law and shall also be beneficial for practitioners as well as legal and judicial officers. It will open new doors for further research in the field of Islamic Financial Contracts

Introduction

1. Some basic legal terminologies and concepts

2. Historical evolution of contracts and codification of Islamic law of contract

3. General theory: nominate contract, freedom of contract and juristic person

4. Key features of business and guiding principles of Islamic contract law

5. Meaning and definition of contract in Islamic law

6. Constitution or formation of a valid contract

7. Parties and their legal capacities

8. Subject Matter

9. Mutual consent and intention to create legal relationship

10. Vitiating factors

11. Forbidden elements