Table of Contents

Handbook on Islam and Economic Life

Handbook on Islam and Economic Life

Edited by M. Kabir Hassan and Mervyn K. Lewis

Handbook on Islam and Economic Life is a unique study, one of the first of its kind to consider Islam within a broader economic sphere. Covering a wide breadth of topics and research, it explores how Islam impinges upon and seeks to shape major aspects of economic life including economic organisation, business and management, finance and investment, charity, mutuality and self-help, and government. It concludes by analysing the link between religion and development, the present economic situation in Arab countries and the causes of underdevelopment in Muslim countries.

Chapter 17: Meeting expectations: the roles and responsibilities of Shari’ah scholars in Islamic finance

Mohamad Akram Laldin and Hafas Furqani

Subjects: asian studies, asian economics, economics and finance, asian economics, islamic economics and finance

Abstract

This chapter elaborates the roles and responsibilities of Shari’ah scholars in developing Islamic finance. It examines the expected qualities of Shari’ah scholars in supervising and guiding Islamic financial institutions. It shows difference practices of Islamic finance Shari’ah supervision and Shari’ah governance across jurisdictions. It outlines the challenges in the best practices of Shari’ah supervision and Shari’ah governance in Islamic financial institutions.

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