An overview of Sharia and how it affects business law.
Written in 2005; 2,250 words; 4 sources; $ 89.95
Paper Summary:
This paper discusses Islamic Law (Sharia) in general, as well as examines the benefits and risks associated with in engaging in Islamic business transactions. Additionally, examples are given of the various types of business transactions that are often associated with international business transactions associated with the Islamic world. In the end, it is shown that while it may be challenging to conduct international Islamic business transactions, it is worth the effort to avoid economic isolationism.
From the Paper:
"One of the problems in dealing with Islamic law in the realm of international business is that Islamic law has many inconsistencies that make predictability in business matters a major concern. Additionally, the inconsistencies often vary between different sects of Islam, such as between Sunnis and Shi'ites, for example. Indeed, the lack of uniformity and consistency can be confusing and disconcerting. Sharia, which is Islamic law, proceeds by way of example rather than principle. While this does present issues to international business dealings, each of the Islamic States in the Gulf region currently has a set of codified corporate laws."
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