The authoritative tribunal for the settlement of banking and financial disputes in most jurisdictions is the civil law court. However, the practices of the civil law court are repugnant to Islamic Commercial law and its judges lack the appropriate knowledgeable. More so, the jurisdiction of the...

An investigation of the role of Islamic contract law in allocation of resources on a just base is the task in this paper. To do so, an analysis of the default rules in Islamic contract will be undertaken. Generally, distributional rules of risk fall into two paradigms. This is to say, illegality...

Frontmatter -- Acknowledgment -- Prologue -- Contents -- 1 Introduction -- 2 Al-Bay’: The System and its Contractual Mechanisms -- 3 Risk Sharing as a Mechanism of the Al-Bay’ System -- 4 Applying Risk Sharing to Intangible Asset Financing -- 5 Conclusion -- References