Islamic Law of Contract: Applications in Islamic Finance

About
the Book

Islamic
Law of Contract: Applications in Islamic Finance is
a systematic exposition of Shariah rules in the field of Fiqh
al-Mu’amlat (Islamic law of Contracts and Transactions), with their
applications in the modern business and commercial transactions. The book deals
with the general theory of contracts in Islam, formation of contract, concepts of
riba, gharar, maysir and their effect on the contract. It
also discusses in lucid manner specific nominate contracts such as contracts of
sale, ijarah, partnership, mudarabah, surety-ship, rahn
and many other contracts that constitute the corpus of Islamic commercial law.
While dealing with these contracts, the focus of the book has been on their
modern applications in banking and finance.

The
book also deals with current issues of Islamic finance, such as the use of hiyal
(stratagems) in Islamic banking, Ideal maqasid in Islamic finance, Takaful,
Islamic microfinance, and screening norms of equities. The book is an attempt
to introduce Fiqh al-Muamlat as a viable and vibrant commercial law of
the 21st century that has the potential to meet the needs of modern economic
and commercial life.

About
the Author

Prof
Dr Muhammad Tahir Mansoori, former Vice President, Higher Studies and Research
at International Islamic University, Islamabad is a renowned scholar of Islamic
law with specialization in Islamic commercial law and Islamic banking and
finance. He did his LLM (Shariah) from the International Islamic University,
Islamabad and PhD in Islamic jurisprudence from the University of Punjab. He is
the author of over forty articles on Islamic law published in reputed research
journals. In addition to his research articles, he has written several books on
different topics of Islamic law especially in the field of Islamic finance. His
publications include: Islamic Law of Contracts and Business Transactions;
Introduction to Islamic Banking (Arabic); Shariah Maxims: Modern
Applications in Islamic Finance; Family Law in Islam: Theory and
Application; Ahkam-e-Bay among others.

Dr.
Mansoori is Resident Shariah Board member of Askari Islamic bank and member of
Shariah Advisory Committee of Securities and Exchange Commission of Pakistan.
Dr. Mansoori is an awardee of Presidential award “Izaz-e-Fazeelat” for his
outstanding performance in the field of education for the year 2004.