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Vol 23 No 5 May/June 2018

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Finance of International Trade in the Gulf

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ISBN13: 9781853339479
ISBN: 1853339474
Published: January 1994
Publisher: Kluwer Law International
Format: Hardback
Price: Out of print

This work examines the Islamic banking system in the Arabian Gulf area and its value in financing international trade there. The book evaluates and explains existing laws, relevant Shariah principles, Hadith and Fatawa, any deficiencies in these laws, and the current empirical practices of the Islamic banks and their customers. The author concludes thate, even though banking management and technological standards are lacking in certain respects, the Islamic banking system is the preferred system in the Gulf area.;The book addresses the methods of financing and investing in international trade, and associated problems, under both the Islamic and conventioanl systems, and the challenges which fraud, countertrade and Electronic Funds Transfer are now presenting.

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Historical development of the Banking System in the Gulf Arab States; developments of the legal systems of the Gulf Arab States; documnentary letters of credit; finance of international trade under the Islamic banking system; legal relaitonships between the parties to the Murabaha; finance of internaitnal trade in practice; the problems which the Islamic banks face in investing funds in their respective countries; fraud in international trade as it affects the Gulf Arab States; countertrade; Electronic Funds Transfers (EFT).