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Theories And Practices Of Islamic Finance And Exchange Laws: Poverty Of Interest, Ahmed E. Souaiaia Oct 2014

Theories And Practices Of Islamic Finance And Exchange Laws: Poverty Of Interest, Ahmed E. Souaiaia

Ahmed E SOUAIAIA

While Islamic scriptures clearly prohibit profiting from the poor, supposedly sharī'ah-compliant Islamic financial and exchange laws circumvent prohibitions and limitations on ribā, monopolism, debt, and risk while failing to address the fundamental purpose behind the prohibitions—mitigating poverty. This work provides a historical survey of the principles that shape Islamic finance and exchange laws, reviews classical and modern interpretations and practices in the banking and exchange sectors, and suggests a normative model rooted in the interpretation of Islamic sources of law reconstructed from paradigmatic cases. Financial systems that overlook the nexus between poverty and usury harm both the economy and poor …


Narratives Of War In Islamic Societies, Whose Side Is God On?, Ahmed Souaiaia Jun 2013

Narratives Of War In Islamic Societies, Whose Side Is God On?, Ahmed Souaiaia

Ahmed E SOUAIAIA

The so-called Arab Spring ushered in a new era of conflict that is transforming Islamic societies in unprecedented ways. In the past two years, peaceful protests ousted some of the most ruthless dictators of the Arab world. Then, violent rebellions destroyed communities in Libya and Syria, stifled the non-violent movement, and amplified sectarian tensions by interjecting God into some of the most gruesome conflicts. By looking at the Syrian crisis as a case study, in this article I explore the function of narratives in managing war and the nature and evolution of Islamism in Islamic societies.