Islamic Commercial Law: Contemporariness, Normativeness and Competence offers new perspectives on why for centuries Islamic commercial law has been perceived as arbitrary and unpredictable, and on its evolution to a contemporary, consistent, reliable and credible body of law. The book also examines why Western positivists have viewed Islamic commercial law in a simplistic or archaic religious framework and counters those arguments with an examination of its normative legal qualities. The work analyses the competencies of Fiqh (jurisprudence) for structuring new financial instruments, and restructuring conventional financial products more equitability.

Does Islamic law define Islamic ethics? Or is the law a branch of a broader ethical system? Or is it but one of several independent moral discourses, Islamic and otherwise, competing for Muslims’ allegiance? The essays in this book present a range of answers: some take fiqh as the defining framework for ethics, others insert the law into a broader ethical system, and others present it as just one among several parallel Islamic ethical discourses, or show how Islamic ethics might coexist with non-Muslim normative systems. Their answers have far reaching implications for epistemology, for the authority of jurists and lay Muslims, for the practical moral challenges of daily life, and for relationships with non-Muslims. The book presents Muslim ethicists with a strategic contemporary choice: should they pursue a single overarching methodology for judging all ethical questions, or should they relish the rhetorical and political competition of alternative but not necessarily incompatible moral discourses?

It is the first study which comprehensively, systematically and critically examines the role and usefulness of the concept of Maqasid al-Shari'a (higher Objectives of Islamic Law) in contemporary Muslim reformist thought in relation to number of specific issues pertaining to Islamic legal philosophy, law, ethics and the socio-political sphere.

For the first time, Sharia' and common law are compared from the perspective of environmental law to delve into their common grounds.

This volume presents ten leading scholars' writings on contemporary Islamic law and Muslim thought. The essays examine a range of issues, from modern Muslim discourses on justice, natural law, and the common good, to democracy, the social contract, and "the authority of the preeminent jurist." Changes in how Shari'a has been understood over the centuries are explored, as well as how it has been applied in both Sunni and Shi'i Islam. Debates on the nature, interpretation, reform, and application of Shari'a lie at the core of all Islamist revivalist ideologies and movements of the past two centuries. The demand for the implementation of Shari'a is one of the hallmarks of Islamic fundamentalism, and Shari'a has become one of the most controversial and politicized concepts in Muslim-majority countries today. This is one of the first books to examine how Muslims understand and apply Shari'a in contemporary societies.