Plural Financial System Research Articles

L’economia islamica: alternativa apparente o reale?

Abstract This article deals with the nature of Islamic economics as a scientific paradigm which claims to be alternative to conventional economic thinking. To critically evaluate this claim, the work investigates the peculiar religious and moral principles that shape the idea of social justice in Islam. Subsequently, it outlines how Islamic economics derives from these principles a specific conceptualization of property rights and commercial relations that embraces parameters of (1) primacy of real economy; (2) transactional equilibrium; (3) and profit- and risk-sharing. By endorsing the conceptual autonomy of Islamic economics from conventional capitalism, the article also refers to the current emergence of the Islamic financial market at a global stage, and the possible implications for a plural financial system in the future.

Islamic Finance in Europe: Towards A Plural Financial System Edited by Valentino Cattelan Cheltenham, Edward Elgar, 2013, Studies in Islamic Finance, Accounting and Governance, xi + 234 pp (hardback £80) ISBN: 978-1-78100-250-6

Islamic Finance in Europe: Towards A Plural Financial System Edited by Valentino Cattelan Cheltenham, Edward Elgar, 2013, Studies in Islamic Finance, Accounting and Governance, xi + 234 pp (hardback £80) ISBN: 978-1-78100-250-6 - Volume 18 Issue 2

Financial Economics: Islamic Finance in Europe: Towards a Plural Financial System

Rodney Wilson of Emeritus Professor, Durham University reviews, “Islamic Finance in Europe: Towards a Plural Financial System” by Valentino Cattelan. The Econlit abstract of this book begins: “Fifteen papers investigate Islamic finance in Europe as part of a plural financial system in the current age of globalization, through a multi- and interdisciplinary approach to law and economics. Papers discuss law as a kite—managing legal pluralism in the context of Islamic finance; a glimpse through the veil of Maya—Islamic finance and its truths on property rights; Islamic moral economy as the foundation of Islamic finance; financial stability and economic development—an Islamic perspective; Islamic banking contracts and the risk profile of Islamic banks; the economic impact of Islamic finance and the European Union; migrant banking in Europe—approaches, meanings, and perspectives; women's empowerment and Islam—open issues from the Arab world to Europe; Islamic banking in the EU legal framework; regulating Islamic financial institutions in the United Kingdom; Luxembourg—a leading domicile for Shari'ah compliant investments; managing Islamic finance vis-à-vis laïcité—the case of France; a critical view on Islamic finance in Germany; the development of Islamic banking in Turkey—regulation, performance, and political economy; and the move toward a plural financial system. Cattelan is Lecturer in Islamic Finance at the University of Rome ““Tor Vergata.””