The Paradox of Islamic Finance: How Shariah Scholars Reconcile Religion and Capitalism

— —

Ryan Calder

The Paradox of Islamic Finance

How Shariah Scholars Reconcile Religion and Capitalism

Ryan Calder

$59.99

Paperback

Not in-store but you can order this
How long will it take?

Availability Information

We source books from suppliers in Australia and overseas. For books we don't currently have in stock, the time it takes to get them from our suppliers can vary widely - from a few days to a few months - so we check each book with each supplier to determine the expected time it will take to be supplied to us.

We then advise you accordingly. If the time taken to get any book is too long for you, you can let us know and we will cancel or adjust your order, and refund as required.

To find out the anticipated arrival time for specific items prior to ordering, please contact us by phone or email:

Phone +61 2 9264 3111, or 1800 4 BOOKS (1800 4 26657) if outside Sydney:
option 1 Abbey's Bookshop (Crime, History, Science, Kids & more) • info@abbeys.com.au
option 2 Language Book Centre (ESL & Foreign Languages) • language@abbeys.com.au
option 3 Galaxy Bookshop (Sci-fi, Fantasy, Romance, Graphic Novels) • sf@galaxybooks.com.au

QTY:

English

Princeton University Press
06 August 2024

Islamic life & practice; Social & cultural anthropology; Economic history; Finance; Islamic law

How the booming Islamic finance industry became an ultramodern hybrid of religion and markets

In just fifty years, Islamic finance has grown from a tiny experiment operated from a Volkswagen van to a thriving global industry worth more than the entire financial sector of India, South America, or Eastern Europe. You can now shop with an Islamic credit card, invest in Islamic bonds, and buy Islamic derivatives. But how has this spectacular growth been possible, given Islam's strictures against interest? In The Paradox of Islamic Finance, Ryan Calder examines the Islamic finance boom, arguing that shariah scholars-experts in Islamic law who certify financial products as truly Islamic-have made the industry a profitable, if controversial, hybrid of religion and markets.

Critics say Islamic finance merely reproduces conventional interest-based finance, with the shariah scholars' blessing. From an economic perspective, they are right: the most popular Islamic products act like conventional interest-bearing ones, earning healthy profits for Islamic banks and global financial heavyweights like Deutsche Bank and Goldman Sachs. Yet as Calder shows by delving into the shariah scholars' day-to-day work, what seem like high-tech work-arounds to outsiders carry deep and nuanced meaning to the scholars-and to the hundreds of millions of Muslims who respect their expertise. He argues that shariah scholars' conception of Islamic finance is perfectly suited to the age of financialization and the global efflorescence of shariah-minded Islam.

By: Ryan Calder
Imprint: Princeton University Press
Country of Publication: United States
Dimensions: Height: 235mm, Width: 156mm,
ISBN: 9780691258300
ISBN 10: 0691258309
Pages: 376
Publication Date: 06 August 2024
Audience: College/higher education , Professional and scholarly , General/trade , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Ryan Calder is assistant professor of sociology and director of the Program in Islamic Studies at Johns Hopkins University. Before entering academia, he worked in management consulting and then covered the Libyan Arab Spring uprising for The Atlantic and Foreign Policy.