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Beyond DebtIslamic Experiments in Global Finance$
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Daromir Rudnyckyj

Print publication date: 2018

Print ISBN-13: 9780226551920

Published to Chicago Scholarship Online: May 2019

DOI: 10.7208/chicago/9780226552118.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 29 July 2021

Expertise in Action

Expertise in Action

(p.52) Chapter Two Expertise in Action
Beyond Debt

Daromir Rudnyckyj

University of Chicago Press

This chapter describes the four key groups of experts who are involved in the everyday practices of Islamic finance: practitioners who work in Islamic financial firms, Islamic economists who are usually based at universities, regulators who staff supervisory and monitoring institutions, and shariah scholars who are schooled in branches of the classical Islamic educational disciplines, especially Islamic jurisprudence (fiqh). The chapter describes some of the regulations the Central Bank of Malaysia (Bank Negara) has created to regulate Islamic financial expertise. The chapter addresses the creation of a new type of risk, shariah risk, and some of the ways different interpretations of fiqh have led to different versions of Islamic finance.

Keywords:   expertise, knowledge, risk, shariah scholars, Bank Negara Malaysia, fiqh, Islamic economics

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