This chapter uses the growth of Islamic finance to explore some of the diverse economies of contemporary global finance. The first part of the chapter considers the conceptual and practical need to re-read ‘global finance’ as proliferative and diverse. The chapter then explores the heterogeneous understandings and practices that characterize Islamic finance. Key features of Islamic finance – its concerns with riba, gharar and maisir – are briefly outlined. Finally, the chapter considers some of the complexity and diversity of how Islamic principles are being translated into contemporary financial practices, drawing on research from different areas of the world.
Gemma Bone Dodds and Jane Pollard
Edited by Ron Martin and Jane Pollard
The aim of this timely work, which appears in the wake of the worst global financial crisis since the late 1920s, is to bring together high quality research-based contributions from leading international scholars involved in constructing a geographical perspective on money. Topics covered include the crisis, the spatial circuits of finance, regulation, mainstream financial markets (banking, equity, etc), through to the various ‘alternative’ and ‘disruptive’ forms of money that have arisen in recent years. It will be of interest to geographers, political scientists, sociologists, economists, planners and all those interested in how money shapes and reshapes socio-economic space and conditions local and regional development.