
Contents
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6 What is a financial market? Global markets as microinstitutional and post-traditional social forms
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What is Islamic finance, really? What is Islamic finance, really?
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Delimiting IBF: the social organization of Islam Delimiting IBF: the social organization of Islam
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Delimiting IBF: the social organization of the Islamic finance industry Delimiting IBF: the social organization of the Islamic finance industry
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What does the IBF field encompass? What does the IBF field encompass?
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Social scientists seeking alternatives are disappointed Social scientists seeking alternatives are disappointed
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The ideal-type of IBF is rarely practiced The ideal-type of IBF is rarely practiced
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IBF as practiced is substantively identical to conventional finance IBF as practiced is substantively identical to conventional finance
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Critique Critique
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Why does IBF closely resemble conventional finance? Why does IBF closely resemble conventional finance?
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Conclusion Conclusion
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Notes Notes
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References References
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22 Islamic Banking And Finance: Alternative Or Façade?
Get accessAaron Z. Pitluck holds a two-year research fellowship with the Political Economy Research Group at Central European University (Budapest) and is an Associate Professor in the Department of Sociology and Anthropology at Illinois State University. Most recently he has researched how illiquidity influences professional investors’ behavior, and how and why professional investors herd in the global south. He has published in Economy and Society and the Society for Economic Anthropology monograph series.
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Published:03 June 2013
Cite
Abstract
Islamic banking and finance (IBF) is a market in formation with factious voices claiming certain economic activity as ‘Shariah-compliant’ or ‘Islamic’ while other voices claim the same economic activity to be outside of, if not contrary to, Islam. This article explores the definitional anxiety surrounding IBF. It then surveys and critiques the social science literature, and explains why IBF so closely resembles conventional finance.
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