Papers
Comparative Islamic Studies, 2016
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Takaful and Islamic Cooperative Finance
The chapter examines fatwa in Islamic insurance and its role as an underlying cause of regulatory... more The chapter examines fatwa in Islamic insurance and its role as an underlying cause of regulatory capture and arbitrage. The progression of the Islamic insurance industry from one almost unanimously forbidden to a multi-billion dollar industry in less than three decades is indicative of the notable advances the industry has made. With its core principles of cooperation, mutuality and sharing of loss/gain, Islamic insurance is of particular appeal to the consumer. The chapter highlights the key obstacles preventing Islamic insurance from achieving true mutuality and cooperation, and as such truly serving the consumer for whom it was created. These obstacles include the conflation of terms in understanding mutuality under an Islamic rubric, the undue emphasis on the contractual particulars governing the consumer and the role of fatwa or lack thereof in creating regulatory capture. It covers the need for a review of the Islamic legal approaches used in the formation of fatwa in order to limit regulatory arbitrage by way of fees and charitable contributions.
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Great Events in Religion: An Encyclopedia of Pivotal Events in Religious History, Nov 2016
Entry for the "Great Events in Religion: An Encyclopedia of Pivotal Events in Religious History" ... more Entry for the "Great Events in Religion: An Encyclopedia of Pivotal Events in Religious History" published by ABC-CLIO.
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In this paper, we present a model of zakāt distribution using a centralized mechanism across mult... more In this paper, we present a model of zakāt distribution using a centralized mechanism across multiple areas. This centralized mechanism aims to increase the aggregate amount of funds allocated to those deemed most needy over the less needy. Comparing the centralized method and a more autonomous method, we show that the aggregate value of zakāt distribution is greatest when using the centralized mechanism over the individual.
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Harvard Islamic Finance Project , Apr 21, 2014
This paper examines Fatwā in Islamic Insurance and its role as an underlying cause of Regulatory ... more This paper examines Fatwā in Islamic Insurance and its role as an underlying cause of Regulatory Capture and Arbitrage. The progression of the Islamic Insurance industry from one almost unanimously forbidden to a multi-billion dollar industry in less than three decades is indicative of the notable advances the industry has made. With its core principles of cooperation, mutuality, and sharing of loss/gain, Islamic Insurance is of particular appeal to the consumer. The paper highlights the key obstacles preventing Islamic Insurance from achieving true mutuality and cooperation, and as such truly serving the consumer for whom it was created. These obstacles include the conflation of terms in understanding mutuality under an Islamic rubric, the undue emphasis on the contractual particulars governing the consumer, and the role of Fatwā or lack thereof in creating Regulatory Capture. It will cover the need for review of the Islamic legal approaches used in the formation of Fatwā in order to limit regulatory arbitrage by way of fees and charitable contributions.
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Oxford Encyclopedia of Islam & Law
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Oxford Encyclopedia of Islam & Law
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Oxford Encyclopedia of Islam & Law
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Oxford Encyclopedia of Islam & Law
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Oxford Encyclopedia of Islam & Law
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Oxford Encyclopedia of Islam & Law
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Oxford Encyclopedia of Islam & Law
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Conferences and Workshops
MEHAT, University of Chicago, 2016
ISIL or ISIS continues to burden the world with political stri... more MEHAT, University of Chicago, 2016
ISIL or ISIS continues to burden the world with political strife and religious rhetoric. One of the main attractions to their ideology is their claim of being a "caliphate upon the prophetic model." This allows them latitude in justifying many of their punitive actions against the populaces of Iraq, Syria, and elsewhere while retaining their moniker of being a truly "Islamic" state. One tool for the legitimization of these acts is a text written in the modern period by Muḥammad ʿAbdul-Wahhāb (d.1791). This treatise titled " Mufīd al-Mustafīd fī Kufr Tārik al-Tawḥīd" was written against the people of Ḥuraymilāʾ after they rejected his ideas and seceded from the budding Saudi state. This paper will cover four main topics related to this treatise: 1) A comparison of the IS print of this book to others printed outside IS lands. 2) A catalog and summary of the contents of this treatise, 3) reactions of Wahhabi scholars to it in their own writings, and 4) the genealogy of its legal and theological issues and their presence outside the Wahhabi tradition. In conclusion, the proximity of the ideas presented in this treatise to the broader Islamic legal and theological tradition will be determined.
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ISIL or ISIS continues to burden the world with political strife and religious rhetoric. One of the main attractions to their ideology is their claim of being a "caliphate upon the prophetic model." This allows them latitude in justifying many of their punitive actions against the populaces of Iraq, Syria, and elsewhere while retaining their moniker of being a truly "Islamic" state. One tool for the legitimization of these acts is a text written in the modern period by Muḥammad ʿAbdul-Wahhāb (d.1791). This treatise titled " Mufīd al-Mustafīd fī Kufr Tārik al-Tawḥīd" was written against the people of Ḥuraymilāʾ after they rejected his ideas and seceded from the budding Saudi state. This paper will cover four main topics related to this treatise: 1) A comparison of the IS print of this book to others printed outside IS lands. 2) A catalog and summary of the contents of this treatise, 3) reactions of Wahhabi scholars to it in their own writings, and 4) the genealogy of its legal and theological issues and their presence outside the Wahhabi tradition. In conclusion, the proximity of the ideas presented in this treatise to the broader Islamic legal and theological tradition will be determined.
ISIL or ISIS continues to burden the world with political strife and religious rhetoric. One of the main attractions to their ideology is their claim of being a "caliphate upon the prophetic model." This allows them latitude in justifying many of their punitive actions against the populaces of Iraq, Syria, and elsewhere while retaining their moniker of being a truly "Islamic" state. One tool for the legitimization of these acts is a text written in the modern period by Muḥammad ʿAbdul-Wahhāb (d.1791). This treatise titled " Mufīd al-Mustafīd fī Kufr Tārik al-Tawḥīd" was written against the people of Ḥuraymilāʾ after they rejected his ideas and seceded from the budding Saudi state. This paper will cover four main topics related to this treatise: 1) A comparison of the IS print of this book to others printed outside IS lands. 2) A catalog and summary of the contents of this treatise, 3) reactions of Wahhabi scholars to it in their own writings, and 4) the genealogy of its legal and theological issues and their presence outside the Wahhabi tradition. In conclusion, the proximity of the ideas presented in this treatise to the broader Islamic legal and theological tradition will be determined.
This is an author's copy, please consult the journal online https://journals.equinoxpub.com/index.php/CIS/article/view/30460