The Handbook of Diverse Economies
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The Handbook of Diverse Economies

Edited by J. K. Gibson-Graham and Kelly Dombroski

Economic diversity abounds in a more-than-capitalist world, from worker-recuperated cooperatives and anti-mafia social enterprises to caring labour and the work of Earth Others, from fair trade and social procurement to community land trusts, free universities and Islamic finance. The Handbook of Diverse Economies presents research that inventories economic difference as a prelude to building ethical ways of living on our dangerously degraded planet. With contributing authors from twenty countries, it presents new thinking around subjectivity and methodology as strategies for making other worlds possible.
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Chapter 38: Islamic finance: diversity within difference

Gemma Bone Dodds and Jane Pollard

Abstract

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.

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