Islamic Commercial Law - (Wiley Finance) by Muhammad Yusuf Saleem (Paperback)

Book Synopsis

A concise study of the practices in Islamic commercial law

Filling a gap in the current literature, Islamic Commercial Law is the only book available that combines the theory and practice of Islamic commercial law in an English-language text. From the experts at the International Islamic University Malaysia, the book examines the source materials in the Qur'an and Hadith, and highlights the views and positions of leading schools of Islamic law, without burying the reader in juristic minutia. It combines theory with practice to address the needs of students while providing a pragmatic treatment of Islamic contracts. It provides diagrams for individual contracts to reveal the type and nature of the contractual relationships between parties and discusses all types of fundamental transactions, including sales, loans, debt transfers, partnerships, and more.

• Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance
• Closes a vital gap in the English-language literature on Islamic commercial law
• Features end-of-chapter questions to enable self-testing and provoke critical thinking

An ideal guide for current students, researchers, and practitioners, Islamic Commercial Law offers a concise yet comprehensive coverage of the subject.

From the Back Cover

"This book, written by a member of the new generation of competent and informed Islamic Shari'ah scholars, is one of the clearest expositions of the intricacies of Islamic commercial law. The central focus of the book is the crucial condition that the litmus test of Islamic legitimacy of any commercial contract is its organic relationship with real assets, therefore, with the real sector of the economy. It is a valuable contribution to efforts at demystifying Islamic finance; it is well worth reading."
--Abbas Mirakhor, Holder of INCEIF Chair in Islamic Finance

"The book no doubt is a valuable addition to the Islamic commercial transaction subject as it discusses the different types of contracts in Islamic commercial law. In addition to the discussion on the fundamental and theoretical aspects of Islamic commercial contracts, the writer also explains briefly the application of those contracts in Islamic finance world today. One of the salient features of this textbook format is that the writer has provided true-or-false questions at the end of each topic as well as a short essay-type question on the type of contract discussed."
--Mohamad Akram Laldin, International Shari'ah Research Academy for Islamic Finance (ISRA)

"Prof. Saleem's book on Islamic commercial law coherently covers all the major contracts as applied in the contemporary Islamic finance industry. The book explains lucidly some of the difficult concepts and principles governing Islamic finance transactions. The learning outcomes at the beginning of each chapter serve as a useful guide for students, while the questions at the end of each chapter assist the students in their comprehension of the subject matter. This book is highly recommended for beginners in Islamic finance."
--Rafe Haneef, CEO, HSBC Amanah Malaysia Bhd

"Shari'ah compliance in commercial, business, and banking activities is necessary for Muslims. This necessitates a demand for a book that would introduce all the essential contracts associated with Islamic commerce, banking, and finance. Islamic Commercial Law by Dr. Saleem has combined the theory with the practice and is a timely and welcome addition to the existing literature in English. The book is part of the rich teaching experience at the Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia. The beneficiaries will be university students and practitioners in Islamic financial institutions."
--Khaliq Ahmad, Dean, Kulliyyah of Economics and Management Sciences, International Islamic University Malaysia

"The emergence of Islamic banking and finance has refocused attention on Islamic transactions and commercial laws. Islamic Commercial Law is a timely and welcome addition to the growing literature on the subject. It is the first book in English to introduce all the essential contracts on Islamic commerce and finance in one volume. The author also incorporates diagrams, examples, and questions that offer a better understanding of the various commercial and financial transactions. This makes the book an important text and essential reading for the undergraduate and postgraduate students and for all those who work in Islamic financial institutions. I congratulate Dr. Saleem for providing students and practitioners with a useful resource that combines the theory with the practice."
--Moha Asri Abdullah, Head, Department of Economics, International Islamic University Malaysia

About the Author

Muhammad Yusuf Saleem was born in Afghanistan. He obtained a Bachelor of Laws (LLB) from International Islamic University Malaysia in 1992, where he also studied his Master of Comparative Laws (MCL) and obtained a PhD in 2003. He is currently an Assistant Professor at the Faculty of Economics and Management Sciences, International Islamic University, Malaysia. He has taught a series of courses on Fiqh for Economist, Islamic Transactions (Mu'amalat), Islamic Jurisprudence (Usul al-Fiqh), Islamic banking and finance, zakat, waqf and Islamic law of inheritance (Faraidh). He has also taught Islamic Finance, and Fiqh al-mu'amalt courses for postgraduate students at the Graduate School of Management and at the IIUM Institute of Islamic Banking and Finance. Dr. Saleem contributed several articles to various local and international journals. He has participated and presented papers in international conferences in Kuala Lumpur, Dhaka, Jeddah, and Bahrain. Among his works are An Introduction to the Theoretical Foundations of Islamic Transactions, Muslim Powerlessness and the Nation-state, Methods and Methodologies in Fiqh and Islamic Economics, Mutawalli Institutions for the Management of Waqf Properties, Form v. Substance in Islamic Banking and Financial Transactions, and the Application of Ibra and Muqassah to House Financing Contracts.