Finance of International Trade in the Gulf - Arab & Islamic Laws S.

Synopsis

This work examines the Islamic banking system in the Arabian Gulf area and its value in financing international trade there. The book evaluates and explains existing laws, relevant Shariah principles, Hadith and Fatawa, any deficiencies in these laws, and the current empirical practices of the Islamic banks and their customers. The author concludes thate, even though banking management and technological standards are lacking in certain respects, the Islamic banking system is the preferred system in the Gulf area. nThe book addresses the methods of financing and investing in international trade, and associated problems, under both the Islamic and conventioanl systems, and the challenges which fraud, countertrade and Electronic Funds Transfer are now presenting.