This Research Guide leads you to a wide variety of sources on Islamic commercial law and Islamic finance in SMU’s collections as well as elsewhere. The sources covered include books and e-books, e-journals and subscribed databases available only to the SMU community, as well as publicly available websites. Original research by SMU faculty and visiting scholars will also be uploaded from time-to-time, including works-in-progress for which comment is invited. This Research Guide will periodically be updated with new materials. If you have any suggestions for additional sources or enquiries about further research in Islamic law and finance, please contact Head, Law Library, Elizabeth Naumczyk, or email@example.com.
Islamic banking is banking that is consistent with Sharia (moral code and religious law of Islam) principles and its practical application through the development of Islamic economics and banking services. Therefore, Sharia-compliant finance is a more accurate term than Islamic banking or finance. A central tenet is that interest may be neither charged nor paid, but there are also ethical considerations that many Muslims hold dear even though they may not necessarily be enshrined in religious law, such as the idea that one party may not use a superior financial position to exploit another. These also include investing in companies whose trading activities are seen as running contrary to Islamic principles. There are many solutions that have been devised to fulfill this need, but three of the most widely used are Murabaha, Ijara and Sukuk Al Ijara.
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