Islamic Law and Finance: Religion, Risk, and Return
Frank E. Vogel and Samuel L. Hayes III
What this source says
A standard academic treatment co-authored by a Harvard Islamic-law scholar and a Harvard Business School finance professor. It explains the classical Shariah doctrines underlying the prohibitions of riba and gharar, then examines how modern Islamic financial institutions construct compliant instruments and where tensions arise between legal form and financial reality. The book stresses that legitimate Islamic finance is grounded in real risk-sharing rather than guaranteed return.
Wording inside quotation marks is quoted from the source. The rest is this notebook’s summary of it — read the original before relying on it.
Provenance
- Source
- Frank E. Vogel & Samuel L. Hayes III, Islamic Law and Finance: Religion, Risk, and Return (Kluwer Law International, 1998), ISBN 9789041106247
- Edition
- The Hague: Kluwer Law International, 1998
- School / basis
- Comparative
- Added
- 2026-06-03
- Trust
- A position recorded from a named, published source — reported accurately, not independently adjudicated.
Compiler’s note
Documented summary of a real title; not a verbatim quotation. ISBN verified; archived copy available on the Internet Archive.
Topics
islamic-financeribalawriskstructures
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