Islamic Banking

Islamic Banking

Islamic Banking with Professor Raj Bhala

When: 5.15pm to 6.15pm, Friday 9 June 2017

Where: Auckland Law School, 9 Eden Crescent, University of Auckland

Islamic finance is a roughly US $3 trillion industry, and Islamic financial products are offered in Islamic and non-Islamic countries to Muslim and non-Muslims alike. But, with so much attention since 9-11, Middle East conflicts, and world-wide terrorism, the nature of Islamic Finance and indeed the fact that it is a successful, ethically well-based system, is not widely understood. This lecture will review the sources of Sharia (Islamic Law), and then its two great prohibitions - against gharar (risk) and ribu (interest). Then the lecture will explain the devices used to address these prohibitions, including sleeping partnerships, cost-plus pricing and joint ventures. Click here for the brochure.