Acknowledgements
The author would like to thank his family and friends for their love and support.
Notes
1International Monetary Fund (IMF), ‘World Economic Outlook Database’ <http://www.imf.org/external/pubs/ft/weo/2009/01/weodata/weorept.aspx?pr.x=96&pr.y=17&sy=2007&ey=2014&scsm=1&ssd=1&sort=country&ds=.&br=1&c=132%2C134%2C112%2C111&s=NGDP_RPCH&grp=0&a> accessed 20 March 2011.
2‘Islamic Banks Less Affected in Global Recession’ The Nation (10 February 2009) <http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/Business/10-Feb-2009/Islamic-banks-less-affected-in-global-recession> accessed 20 March 2011.
3International Monetary Fund (IMF), ‘World Economic Outlook Database’ <http://www.imf.org/external/pubs/ft/weo/2009/01/weodata/weorept.aspx?pr.x=86&pr.y=2&sy=2007&ey=2014&scsm=1&ssd=1&sort=country&ds=.&br=1&c=469%2C453%2C466&s=NGDP_RPCH&grp=0&a> accessed 20 March 2011.
4Fred E Foldvary, The Depression of 2008 (2nd edn, Gutenberg, Berkeley, CA 2007) 20.
5Andrew Ross Sorkin, ‘Lehman Files for Bankruptcy; Merrill Is Sold’ New York Times (New York 15 September 2008) A1.
6Dominic Selwood, ‘Islamic Contracts in a Modern Legal Context’ in Humayon A Dar and Umar Moghul (eds), The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance (Chancellor, London 2010) 25.
7Angelo M Venardos, ‘Resilience and Stability: Socioeconomic Response in Southeast Asia’ in Angelo M Venardos (ed), Current Issues in Islamic Banking and Finance: Resilience and Stability in the Present System (World Scientific, Hackensack, NJ 2010) 1.
8Humayon A Dar and Umar Moghul, ‘Background to Islamic Finance and Banking’ in Humayon A Dar and Umar Moghul (eds), The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance (Chancellor, London 2010) 3; Venardos (n 7) 11.
9Selwood (n 6) 31.
10Ibid. 32.
11Venardos (n 7) 10–11.
12Dar and Moghul (n 8) 8.
13Ibid.
14Selwood (n 6) 30.
15Ibid. 31.
16Venardos (n 7) 3.
17Ibid.
18Ibid.
19Selwood (n 6) 30.
20Ibid. 31.
21Venardos (n 7) 11.
22Zulkifi Hasan, ‘Corporate Governance: Western and Islamic Perspectives’ (2009) 5(1) Intl Rev Bus Res Papers 286, 277–293.
23Selwood (n 6) 47.
24Ibid.
25Ibid.
26‘Joint Venturing 101’ <http://entrepreneurs.about.com/od/beyondstartup/a/jointventures_3.htm> accessed 22 May 2012.
27Ibid.
28Hossein Askari, The Stability of Islamic Finance: Creating a Resilient Financial Environment for a Secure Future (Wiley, Singapore 2010) 115–18; Selwood (n 6) 48.
29Selwood (n 6) 48.
30Ibid.
31Askari (n 26) 135.
32Selwood (n 6) 51.
33Ibid.
34Michael Mahlknecht, ‘Islamic Capital Markets: A Growing Area for Investments’ in Angelo M Venardos (ed), Current Issues in Islamic Banking and Finance: Resilience and Stability in the Present System (World Scientific, Hackensack, NJ 2010) 256.
35Ibid. 258.
36Ibid. 269.
37Ibid. 275.
38Ibid. 274.
39Hasan (n 22) 282.
40Salman Khan, ‘The Role of Shari'a Advisement in an Islamic Financial Institution’ in Humayon A Dar and Umar Moghul (eds), The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance (Chancellor, London 2010) 358.
41Hasan (n 22) 278.
42Ibid. 280.
43Ibid. 288.
44Ibid. 280.
45Ibid. 288.
46 Encyclopedia of Religion (2nd edn, Macmillan Reference USA, New York, NY 2004) V, 3561–2.
47Askari (n 26) 177.
48Hasan (n 22) 284.
49Ibid.
50Ibid. 285.
51Ibid. 284.
52Khan (n 38) 358; Nik Norishky Thani, ‘Regulation of Islamic Funds and Securities in the DIFC’ in Humayon A Dar and Umar Moghul (eds), The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance (Chancellor, London 2010) 12.
53Thani (n 50) 13.
54Selwood (n 6) 25.
55Khan (n 22) 358–60.
56Askari (n 26) 177.
57Khan (n 22) 359.
58Ibid. 360.
59Askari (n 26) 178.
60Ibid.
61Selwood (n 6) 27.
62Ibid.
63Ibid.
64Khan (n 22) 362.
65‘Iran, Biggest Shariah-Compliant Market: The Banker’ Payvand Iran News (11 November 2009) <http://www.payvand.com/news/09/nov/1122.html> accessed 22 March 2011; Rabeh Soofi, ‘Standard and Poor's Reports that Islamic Finance Is Set for Broad Growth in 2010’ The Islamic Finance Law Blog (4 February 2010) <http://www.islamic-finance-blog.com/?p=89> accessed 22 March 2011.
66Ibid.
67Venardos (n 7) 1.
68Selwood (n 6) 29.
69Ibid.
70Ibid.