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Full-Text Articles in Comparative and Foreign Law
Islamic Flextime, Liaquat Ali Khan
Islamic Flextime, Liaquat Ali Khan
Ali Khan
Islamic flextime is derived from a divine decree that convenience is the organizing principle of cosmic construction. Rigid temporal frameworks restrict freedom and may even impede human happiness, social harmony, and economic efficiency. This essay explains the foundation of Islamic temporality. Islam teaches that human beings can use temporality but they have no control over time, just as they can benefit from sunlight but cannot conquer the sun. A flexible notion of temporality facilitates the performance of obligations, without repudiating the core concepts of punctuality and time commitments. Islamic flextime is an accommodation principle that respects individual needs and mitigates …
Judicial Decision-Making In Islamic Banking And Finance, Spencer J. Coopchik
Judicial Decision-Making In Islamic Banking And Finance, Spencer J. Coopchik
Spencer J. Coopchik
In a globalized economy it is important for Western lawyers and investors to understand Islamic banking and finance. Islamic banking’s rapid growth in the past two decades has come as surprise to many in the financial markets. More surprising is that the legality of most financial transactions is decided by a select group of jurists sitting on Shari’ah Supervisory Boards. Islamic banking is a financial system governed by the Shari’ah. Many often misperceive Islamic banking as traditional financial practices veiled in Islamic legal fiction. This misconception is due in part to a lack of understanding of the Islamic legal principles …