Islamic Economics and Finance: A European Perspective

01 02 The global economic crisis has driven many economists around the world to seek alternative solutions to the western capitalist model which has proven to have some shortcomings. One prominent area of that research has been Islamic Economics and Finance. Based on the Muslim teachings of shari'ah, this system differs significantly from conventional economics and finance, notably in the prohibition of interest and strong emphasis on moral ethics. In June 2010, IE Business School, with King Abdulaziz University, gathered in Madrid some of the world's foremost scholars, academics and practitioners of Islamic Economics and Finance to discuss how this alternative philosophy can be applied in western financial markets. This collection of highlights from that conference and original articles, specifically addresses the post-crisis application, as well as the Legal and Tax Implications, of this growing and relevant economic philosophy in Europe, including in the area of Project Financing. 13 02 JONATHAN LANGTON IE Business School, Spain. CRISTINA TRULLOLSDirector, Saudi-Spanish Center for Islamic Economics and Finance, IE Business School, Spain. ABDULLAH Q. TURKISTANI Director of the Islamic Economics Research Center, King Abdulaziz University, Saudi Arabia. 31 02 Based on the discussions of prominent scholars, academics and professionals from around the world, this volume considers the application of Islamic Economics and Finance in western markets 19 02 Contributions from world leading scholars, including Dr. Umer Chapra and Prof. Mohamed A. Elgari Specifically considers the case of introducing Islamic Economics and Finance in Europe and other western markets Dedicated sections on Project Financing and the Legal and Tax Implications of Islamic Finance 04 02 Foreword; C.de Anca & I.de la Torre PART I: 'BEYOND THE CRISIS: ISLAMIC FINANCE IN THE NEW FINANCIAL ORDER' Opening Round Table Introduction to Islamic Economics and Finance Public-Private Partnerships: Islamic Finance in International Project Finance Legal and Tax Adaptation of Islamic Financial Instruments in Spain PART II: ADDITIONAL ARTICLES The Global Financial Crisis: Can Islamic Finance Help?; M.U.Chapra Points to Ponder in Islamic Finance; M.A.Elgari Islamic Finance and the Regulatory Challenge: The European Case; A.Belouafi & A.Belabes Islamic and Ethical Finance: Taking Responsibility in a Post-Crisis Context?; O.Orozco 02 02 In June 2010 IE Business School, with King Abdulaziz University, gather