Islamic Finance: Law, Economics, and Practice by Mahmoud A. El-Gamal

Genre: Finance, Economics, Islamic Studies, Business Islamic Finance: Law, Economics, and Practice by Mahmoud A. El-Gamal is a comprehensive exploration of Islamic finance that blends legal principles, economic analysis, and real-world applications. Written by one of the foremost scholars in the field, the book provides a clear and critical overview of how Islamic finance operates in theory and in practice. Synopsis El-Gamal examines the foundations of Islamic finance, including its religious and legal underpinnings, and explains how financial instruments are structured to comply with Shari‘a principles such as the prohibition of interest (riba). Moving beyond the theoretical framework, he analyzes how Islamic financial institutions function in practice, identifying the gap between ideals and real-world applications. The book also critiques the challenges of regulation, standardization, and the adaptation of classical principles to modern financial markets. Key Features & Themes

• Foundations of Islamic Law: Clear explanation of Shari‘a principles in relation to finance.
• Critical Perspective: Analysis of the difference between theory and actual practice.
• Comparative Insights: Connections drawn between Islamic and conventional finance.
• Practical Applications: Case studies and examples of Islamic banking, sukuk, and financial instruments.
• Global Relevance: Examination of how Islamic finance fits into international markets.

Why Read It?

• Offers both clarity and depth for students, professionals, and policymakers.
• Provides a balanced view—acknowledging the strengths and shortcomings of Islamic finance.
• Ideal for anyone seeking to understand the legal, ethical, and economic dimensions of the field.
• Bridges the gap between academic discussion and financial industry practice.

Islamic Finance: Law, Economics, and Practice is an authoritative guide that not only explains the principles of Islamic finance but also critically evaluates its modern applications, making it an essential resource for understanding this rapidly growing sector.