Abstract
The current products of Islamic banks closely resemble direct loans and mortgages offered by conventional banks. Such resemblance makes one wonder whether Islamic banks are simply disguising interest-bearing loans. Such disguises are known as hi¯lah (legal stratagem) in Islamic law. This paper examines the use of hi¯lah by Islamic banks in their products and discusses the validity of hi¯lah under various schools of Islamic law.
| Original language | English |
|---|---|
| Pages (from-to) | 65-87 |
| Number of pages | 23 |
| Journal | Islamic Quarterly |
| Volume | 59 |
| Issue number | 1 |
| Publication status | Published - Jan 1 2015 |
ASJC Scopus subject areas
- Cultural Studies
- History
- Religious studies