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Vol 23 No 4 April/May 2018

Book of the Month

Cover of Williams, Mortimer and Sunnucks: Executors, Administrators and Probate

Williams, Mortimer and Sunnucks: Executors, Administrators and Probate

Edited by: Alexander Learmonth, Charlotte Ford, Julia Clark, John Ross Martyn
Price: £295.00

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Court protection no 2
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Uk supremem 1 8
Williams published

Islamic Financial Institutions and Islamic Finance Law: Special Report

ISBN13: 9781405747189
Published: September 2009
Publisher: LexisNexis Butterworths
Country of Publication: UK
Format: Paperback
Price: £359.99

Low stock.

In recent years, Islamic business has grown in size and importance in the world financial markets, propelled by government and private wealth in Muslim countries. The UK has fashioned itself as a leading supporter of Islamic finance, evinced in its position as an “emerging global ‘hub’ for Islamic finance” (Islamic Finance in the UK: Regulation and Challenges (Financial Services Authority, 2007)

This work examines how laws and regulations in the UK and abroad are applied to Shari’a products and services. It offers cutting-edge guidance from a leading practitioner: it includes explanation of terms and definitions and looks the legal nature of the Shari’a, in addition to a crucial review of how Islamic financial business is regulated and its practical application within the UK.

The report also covers the following key areas:

  • An introduction to the basics of Islamic law unfamiliar to most UK practitioners – e.g. what is Islamic law, what are the key principles, what are the products on offer
  • Islamic financial institutions – e.g. different types and requirements
  • Discussion of the legal nature of the Shari’a – the basis, concepts and context of applying Shari’a law
  • How is Islamic financial business regulated in the UK – e.g. how does it work with the Financial Services and Markets Act 2000 (this act being fundamental to how the financial services industry is structured and operates), with the Financial Services Authority, how are Islamic mortgages regulated
  • Best practice guidelines – e.g. key governance principles, Shari’a reviews and audits
  • International operation – what are the regulatory models, how to incorporate best practice guidelines, oversight of Shari’a supervisory boards
  • Practical application of Shari’a principles to areas such as guarantees, set-off, assignment of debt
  • Glossary of terms.

Banking and Finance, Islamic Law
1. Introduction
2. Islamic Financial Institutions
3. Regulation of Islamic financial business
4. Best Practice Guidelines
5. Legal nature of the Shari'a
6. International operations
7. Practical application of Shari'a principles
8. Glossary