This paper considers the factors the allowed for the birth and facilitated the subsequent development of the equity side and the finance (or debt) side of the Islamic capital markets. The equity side of the Islamic capital markets began in 1998 with the issuance (after five years of debate) of a...

The inability to register mortgage liens and other security interests in Saudi Arabia has served as an impediment to economic expansion by, among other things, rendering project financing alternatives unavailable, enhancing the reluctance of foreign banks and financial institutions to provide...

This paper is an introductory survey of bankruptcy and insolvency theory and practice relating to the introduction of Shari'ah principles into secular bankruptcy and insolvency regimes in both jurisdictions that incorporate the Shari'ah, to some extent, into the secular law of the jurisdiction...

Modern Islamic finance remains in its infancy, having emerged only in the mid-1990s. Despite exceptional growth rates, Islamic finance is essentially devoid of derivatives products, in part due to doctrinal constraints and due in part to the infancy of the industry. In March of 2010, after years...

This paper provides a simple, generic introduction to, and survey of, the transactional structures and rudimentary principles applicable to Shari`ah-compliant home purchase financings. The paper summarizes six of the most frequently used home purchase financing structures used by banks and...

This focus of this paper is the regulation of one segment of modern Islamic finance: Islamic banking, whether conducted by stand-alone Islamic banks or “Islamic windows” within conventional interest-based banks. Consideration is given to a select group of illustrative issues that arise in...

The purpose of this paper is to introduce, preliminarily explore, and generate discussion regarding select issues relating to enforceability of, primarily, unilateral promises and pre-closing promises. General principles applicable to unilateral and pre-closing promises in common law and...

Consideration, from the perspective of Islamic shari'ah, of select provisions of the model law for secured transactions over movables of the United Nations Commission on International Trade Law with the objective of providing a comparative vantage on the types of adjustments that must be...