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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 …