This timely book examines the authorisation of Shari'ah-compliant intermediaries as either credit institutions or as investment companies in the European Union. The contributing authors explore the key topics of this area through differing yet parallel perspectives - for example, comparing economic and legal standpoints, looking at both European and national levels and considering both academic and technical approaches. The book discusses the common origin of Islamic and Western traditions in commercial and banking transactions, reviewing a period in which the Italian merchants and their organizations drove the rebirth of post-medieval society in trade and law. The editors investigate whether the Islamic banking and financial model complies with the European framework, spelling out the different experiences in single Member States (Germany, France, Italy, and the United Kingdom). Notwithstanding the obstacles to being authorised as domestic credit institutions, they conclude that the access of Islamic intermediaries is suitable and may have positive effects on European integration, as well as increasing the competition among the stand-still operators and evoking the ethical dimension of banking and finance. The book also highlights how Islamic banking would make the industry more inclusive. This multidisciplinary book will appeal greatly to economics and legal scholars with an interest in European and international banking and financial law, as well as postgraduate students in international law and banking law. Practitioners and regulators will also find this book an invaluable resource.
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"I almost wish you were the second or the third lieutenant of the Bellevite, instead of the executive officer, Christy," said Captain Breaker, the commander of the steamer, as they were seated together one day on the quarter-deck. "Do I fail in the discharge of my duty in my present position, Captain?" asked Christy, very much astonished, not to say startled, at the remark of the commander. "Not in the slightest degree, my dear boy!" returned Captain Breaker with very decided emphasis. "You have served in your present capacity for four months; and if you were fifty years old, and had twenty years of naval experience behind you, it would be hardly possible for you to be more correct and dignified in the performance of the details of your office." "I thank you, Captain, for the partial view you take of what I have done," added Christy, taking off his cap and bowing to his superior. "Well, you ought to be a good officer in any situation, my dear fellow," continued the commander. "I doubt if there is another officer in the navy who has enjoyed the advantages you have had in preparing himself for the duties of his profession. You were brought up, so to say, on board of the Bellevite. You were a good scholar in the first place. Without including myself, you have had excellent teachers in every department of science and philosophy, among whom your father was one of the wisest. Poor Dashington was one of the best seamen that ever trod a deck; and he took especial delight in showing you how to make every knot and splice, as well as in instructing you in the higher details of practical seamanship. Blowitt and myself assisted him, and old Boxie, who gave his life to his country, was more than a grandfather to you." "I have certainly been very grateful to you and to them for all they did for me," replied Christy with a sad expression on his handsome face as the commander recalled the three shipmates of both of them who slept in heroes' graves.
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