From Palgrave Macmillian, a new work on applying Islamic finance in the European context, Islamic Economics and Finance: A European Perspective (Jonathan Langton, Cristina Trullols and Abdullah Q. Turkistani eds. 2011). The authors suggest that the global financial crisis has led to an interest in alternative economic models, including the Islamic, with its emphasis on business ethics. The publisher’s description follows:
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.