YPFP operates several focused series designed to provide a platform for more nuanced discussion of key foreign policy issues. Read More
Who Cares? Why Westerners should know about Islamic Law and Islamic Finance
How can it be that a system that has created economies worth more than a trillion dollars has been outlawed in a number of US states? To many, Islamic law conjures up visions of arbitrary trials with draconian sentences. How can such a system be harnessed by organizations that seek to promote universal human rights? On the other hand, Islamic finance has proven to make fortunes, but how? Are observers to believe that this system really provides all that it claims, or can a system that condemns interest be little more than a pipe dream, inefficient at best, and a pyramid scheme at worst?
This is the first session of the Islamic Law and Islamic Finance module that is opent to all YPFP members. We will begin to scratch the surface of the importance of Islamic law to Islam, and how one of its most visible manifestations, Islamic finance, is starting to have a real effect on world financial markets. Additionally, this course will feature a brief overview of Islam in order to explain the importance of law, commerce, and human rights to the Islamic mindset, as well as to demonstrate the variations of the Islamic world beyond the Middle East.