Hope Springs Eternal: Reforming Inheritance Law in Islamic Societies

Soon after Lajnat al-Hurriyāt al-Fardiyya wa-l-Musāwāt (“Committee on Individual Rights and Equality”) submitted its report in June 2018 to the president of Tunisia, Beji Caid Essebsi, the latter ordered the legislature to amend the 1956 family law to achieve equality between men and women in inheritance and property rights. Although the authors of the report […]

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The Genealogy, Ideology, and Future of ISIL and its Derivatives

The organization known today simply as the “Islamic State,” or by its Arabic acronym, Daesh (English, ISIL), has historical and ideological roots that go beyond the territories it now controls. These deep roots give Daesh confidence that it will succeed in dominating the world, but give others reasons to believe that it will fail in controlling even a single nation. Mixing puritan religious and political discourses, ISIL managed to dominate all other armed opposition groups in conflict zones (Syria, Iraq, Yemen, and Libya) and has inspired individuals in many other countries (Egypt, Pakistan, France, Kuwait, Saudi Arabia, and Tunisia) to carry out brutal attacks in its name.

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Theories and Practices of Islamic Finance and Exchange Laws: Poverty of Interest

While Islamic scriptures clearly prohibit profiting from the poor, supposedly sharī’ah-compliant Islamic financial and exchange laws circumvent prohibitions and limitations on ribā, monopolism, debt, and risk while failing to address the fundamental purpose behind the prohibitions — mitigating poverty. This study provides a historical survey of the principles that shape Islamic finance and exchange laws, reviews classical and modern interpretations and practices in the banking and exchange sectors, and suggests a normative model rooted in the interpretation of Islamic sources of law reconstructed from paradigmatic cases. Financial systems that overlook the nexus between poverty and usury harm both the economy and poor and middle class consumers and investors rather than addressing the causal relationship between interest-charging models and poverty. This study shows how Islamic Financial Institutions (IFIs) have failed to meet the social requirements they were intended to address and also presents a theoretical framework for Islamic finance and exchange laws that proscribes usurious transactions involving people caught in the cycle of poverty and need.

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