Banking and Islamic Law

Banking and Islamic Law – A Scholarly Guide to Shariah-Compliant Finance

Banking and Islamic Law by Dr. M. Muslehuddin is a thoughtful and well-respected academic study that examines modern banking in the light of Shariah principles. The book explains how financial systems can function without interest and how Islam offers ethical alternatives through lawful trade, fairness, and responsible wealth management. Readers who want a clear and trustworthy Islamic finance book will appreciate how this work connects contemporary banking practices with the timeless guidance of Islamic law.

Why Banking and Islamic Law Matters Today

In today’s world, most people deal with banks, savings accounts, loans, and business transactions on a daily basis. Banking and Islamic Law helps the reader understand how these matters should be viewed according to Islamic teachings, especially regarding the prohibition of riba. The book explains the principles of halal banking, Islamic economics, and financial responsibility, making it valuable for anyone who wants to keep their earnings pure and their dealings in accordance with Shariah.

What Makes Banking and Islamic Law Unique

• Clear and balanced explanation of Islamic banking alongside modern financial systems
• Careful study of riba based on Qur’an, Sunnah, and classical fiqh
• Introduction to Islamic financial contracts such as mudarabah, musharakah, and murabaha
• Insight into Shariah-compliant finance and ethical economic principles
• Written by a scholar trained in both economics and Islamic jurisprudence

Key Themes and Knowledge Inside

• Riba in Islam and its moral and legal implications
• Principles of fiqh al-muamalat and Islamic commercial law
• Structure and purpose of Islamic banking systems
• Role of Shariah advisory boards in financial institutions
• Halal finance principles and fairness in trade
• Islamic contracts including murabaha, ijara, and partnership models
• Islamic economic system and social justice
• Understanding the views of classical scholars on financial dealings

Author’s Scholarly Authority

Dr. M. Muslehuddin was known for combining modern economic research with traditional Islamic scholarship. His writings on Islamic finance and interest-free banking have been widely referenced in academic circles, and Banking and Islamic Law continues to be an important Islamic studies book for readers who want a serious, reliable, and well-researched understanding of finance in Islam.

Who Should Read Banking and Islamic Law

• Students of Islamic finance and economics
• Readers studying fiqh al-muamalat
• Professionals working in banking or business
• Anyone who wants to understand halal banking
• Readers interested in Islamic commercial law
• Muslims who wish to ensure their income and transactions are lawful

Practical Benefits for the Reader

• Understand the Islamic ruling on interest and modern banking
• Learn how Islamic banking systems are designed to avoid injustice
• Gain deeper awareness of ethical financial practices in Islam
• Strengthen confidence in managing wealth in a halal way
• Use the book as a reliable reference for Islamic economics study

Edition & Publication Details

• Title: Banking and Islamic Law
• Author: Dr. M. Muslehuddin
• ISBN-10: 817101223X
• ISBN-13: 9788171012237
• Pages: 184
• Publication Year: 2014
• Edition: Paperback
• Language: English
• Publisher: Idara Impex

Continue Your Islamic Learning

For readers who wish to strengthen their understanding of Islamic knowledge from the foundation, learning Arabic can greatly help in studying the Qur’an and classical texts. You may also explore: Arabic for the Beginners

Qur’anic Guidance on Avoiding Interest

Allah clearly warns against interest and injustice in financial dealings:

Those who eat Ribâ (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitân (Satan) leading him to insanity. That is because they say: “Trading is only like Ribâ (usury),” whereas Allâh has permitted trading and forbidden Ribâ (usury). So whosoever receives an admonition from his Lord and stops eating Ribâ (usury) shall not be punished for the past; his case is for Allâh (to judge); but whoever returns [to Ribâ (usury)], such are the dwellers of the Fire – they will abide therein. (Surah Al-Baqarah 2:275)

Riba: Usury which is of two major kinds; (A) Riba An-Nasî’a i.e. interest on lent money; (B) Riba Al-Fadl, i.e. taking a superior thing of the same kind of goods by giving more of the same kind of goods of inferior quality, e.g., dates of superior quality for dates of inferior quality in great amounts.

Allâh will destroy Ribâ (usury) and will give increase for Sadaqât (deeds of charity, alms, etc.) And Allâh likes not the disbelievers, sinners. (Surah Al-Baqarah 2:276)

O you who believe! Be afraid of Allâh and give up what remains (due to you) from Ribâ (usury) (from now onward), if you are (really) believers. (Surah Al-Baqarah 2:278)

O you who believe! Eat not Ribâ (usury) doubled and multiplied, but fear Allâh that you may be successful. (Quran 3:130)

And that which you give in gift¹ (to others), in order that it may increase (your wealth by expecting to get a better one in return) from other people’s property, has no increase with Allâh; but that which you give in Zakât (sadaqa – charity etc.) seeking Allâh’s Countenance, then those, they shall have manifold increase. (Quran 30:39)

Frequently Asked Questions

Is Banking and Islamic Law easy to understand?

The book is written in a scholarly but readable style, making it suitable for readers who have basic knowledge of Islam or economics.

Does the book Banking and Islamic Law explain Islamic banking?

Yes, it explains the principles of Islamic banking, halal finance, and interest-free systems with clarity and academic depth.

Is this book useful for students?

Yes, it is especially useful for students of Islamic studies, economics, and finance who want a reliable reference.

Does it discuss riba in detail?

Yes, the book Banking and Islamic Law carefully explains the prohibition of riba using Qur’an, Hadith, and classical scholarship.

Is this an authentic Islamic reference?

Yes, Banking and Islamic Law is written by a recognized scholar and published by a trusted Islamic publisher, making it a dependable source for serious readers.