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An in-depth and insightful study of Shari'ah governance from a theoretical and practical perspective. Shari'ah governance has a profound influence on the day-to-day practice of Islamic Financial Institutions (IFIs) and each jurisdiction has adopted a different approach to developing a governance framework. Hasan Zulkifli reviews these pluralistic approaches and identifies best practice. With examples, case studies and practical discussions based on IFIs in Malaysia, the GCC countries of Bahrain, UAE, Qatar, Kuwait and Saudi Arabia and the UK. Topics covered include; The theory behind corporate and Shari'ah governance; The regulatory framework for Shari'ah governance; Shari'ah governance approaches; The Shari'ah Board's role and how it retains its independence, transparency and competence; The operational procedures of Shari'ah governance; The effectiveness of the Shari'ah Board and how it could be improved

Research in Corporate and Shari'ah Governance in the Muslim World: Theory and Practice aims to address a critical disciplinary gap between Islamic theory and the practice of the corporate sector in the Muslim World. Adopting a critical approach, the book sheds light on the impact of corporate governance on the economies of the Muslim world.

Dr. Musafir bin Ali al-Qahtani's work contributes to the ever growing body of scholarly literature in the field of maqasid al-Shari'ah (higher objectives of Islamic law). Understanding Maqasidal-Shari’ah calls for the development of a juridicial sense that is finely tuned to the higher objectives and purposes of Islamic rulings, the aims of which are the formulation of a new methodology in understanding the revealed texts and the reform of Muslim thought and its application. The author draws attention to the importance of understanding various levels of maqasid, including distinguishing between primary aims (al-maqasid al-asliyyah) and secondary aims (al-maqasid al-tabi'ah). Al-Qahtani asserts that a positive understanding of the objectives of the Shari'ah should produce affirming human and cultural developments in Muslim societies. The real strength of this work, however, is in the author's application of higher objectives and aims to different areas of jurisprudence, such as in deriving and issuing religious rulings (ifta'). and to important social issues and problems present in Muslim societies, such as extremism, jihad, commanding right and forbidding wrong, social change, crisis of Muslim thought, countering religious excessiveness, the need for recreation and leisure, citizenship and nation-belonging, spreading beauty and harmony in Islam, and the role of Muslim women in society.

Harmonisation of law, a term that refers to the bringing together of two different legal traditions, has developed a negative connotation when considered in the context of Shari’ah and common law. Harmonisation began to be looked at as an attempt by one legal system to impose its values on the other. A major reason for that is the lack of understanding of the scope to which these two legal traditions converge. One of the principal findings of this book is that Shari’ah and common law have many more commonalities than differences. As a result, the need for harmonisation between the two might have been exaggerated. The similarities do not need to be harmonised. Rather, they need to be acknowledged and appreciated. If the differences between Shari’ah and common law, which undoubtedly exist as evidenced in this book, are viewed with an appreciation of the commonalities, the ambiance to reconcile the differences would be more conducive to the harmonisation process. This book is intended to help readers better understand Shari’ah and common law and aid harmonisation efforts when the need arises.

The concept of ‘Ruakh Ra‘ah’ (Evil Spirit), is extremely rare in the Tanach, but is found much more frequently in post-Biblical rabbinic literature and even more in publications by rabbis of the last two centuries. This study focuses on the quite neglected period of responsa literature after the Second World War until the present. This literature consist fo answers given to questions about religious rules. The notion of the 'evil spirit' is strongly connected to the ritual of washing hands in the morning, but also before a meal, in connection with sexual relations and with visiting a graveyard. The washing of hands is supposed to be necessary to ward off bad influences. This ritual can be understood in between mysticism, gender studies, magic and embodied religion. This book analyses the meaning and role of the ‘Ruakh Ra‘ah’ in a corpus of almost 200 rabbinic orthodox response from 1945-2000. What happens to the term Ruakh Ra‘ah in these modern responsa? Does the ritual persist without being associated with the Ruakh Ra‘ah, or does the term continue to be linked to the ritual, but reinterpreted in cause of the possible tension between the traditional rabbinic paradigm and the modern scientific knowledge paradigm. The connection between this ritual and the stratification of the (ultra) orthodox society and cosmological representations offers a clue to the rationale of this practice. Questions of identity, gender and community boundaries that divide insiders from outsiders (Jewish and non-Jewish) seem to be related to the discourse in the corpus on this ritual. As the Ruakh Ra‘ah stands at the intersection between magical perceptions, religion (ritual), and premodern science (medicine) it is suitable as a possible test case for the way in which modern rabbinic responsa deal with other archaic terms and concepts that are related or comparable to the Ruakh Raah. This book is relevant to the debate on the relation of religion to the modern world as it provides insights into the ways contemporary believers deal with the modern world, and the various mechanisms to deal with potential discrepancies.

Shows you how Shari'ah theory is applied to the private equity industry and how this works in practice. Case studies and examples of business financial appraisals give an in-depth view of areas including: the Islamic banking industry; its use as a source of funding in the biotechnology industry, pharmaceuticals, ICT, agriculture and fisheries; and how it is used by investment companies as part of their asset management strategies.