Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different conceptions of economic justice(s) co-exist and influence each other.
The contributing authors analyse key economic development and social integration issues from an Islamic perspective and outline the European approach to accommodating Islamic finance, with particular regard to the peculiarities of individual nation-states. Set in this context, the book presents financial pluralism as a device to enhance a level playing field in the global marketplace, as well as to foster a plural open society.
Providing a comprehensive and methodological guide to Islamic finance in Europe, this book will prove an illuminating and informative read for academics, students and policymakers with an interest in the impact on financial regulation of an increasingly globalized world.
Edited by Valentino Cattelan, Lecturer in Islamic Finance, University of Rome `Tor Vergata', Italy
Contents: Preface 1. Introduction. Babel, Islamic Finance and Europe: Preliminary Notes on Property Rights Pluralism Valentino Cattelan PART I: PLURALISM AND ISLAMIC FINANCE: CONCEPTUAL TOOLS 2. Law as a Kite: Managing Legal Pluralism in the Context of Islamic Finance Werner Menski 3. A Glimpse through the Veil of Maya: Islamic Finance and its Truths on Property Rights Valentino Cattelan PART II: ISLAMIC FINANCE, ECONOMIC DEVELOPMENT AND SOCIAL INTEGRATION 4. Islamic Moral Economy as the Foundation of Islamic Finance Mehmet Asutay 5. Financial Stability and Economic Development: An Islamic Perspective Salman Syed Ali 6. Islamic Banking Contracts and Risk Profile of Islamic Banks Claudio Porzio and Maria Grazia Starita 7. The Economic Impact of Islamic Finance and the European Union Laurent Weill 8. Migrant Banking in Europe: Approaches, Meanings and Perspectives Luca M. Visconti and Enzo M. Napolitano 9. Women's Empowerment and Islam: Open Issues from the Arab World to Europe Deborah Scolart PART III: ISLAMIC FINANCE IN EUROPE: ACCOMMODATING PLURALISM IN STATE LEGISLATIONS 10. Islamic Banking in the European Union Legal Framework Gabriella Gimigliano 11. Regulating Islamic Financial Institutions in the UK Jonathan Ercanbrack 12. Luxembourg: A Leading Domicile for Shari`ah Compliant Investments Eleanor de Rosmorduc and Florence Stainier 13. Managing Islamic Finance vis-a-vis Laicite: The Case of France Ibrahim-Zeyyad Cekici 14. A Critical View on Islamic Finance in Germany Azadeh Farhoush and Michael Mahlknecht 15. The Development of Islamic Banking in Turkey: Regulation, Performance and Political Economy Mehmet Asutay 16. Conclusions. Towards a Plural Financial System Valentino Cattelan Index