The Regulation of Islamic Financial Institutions (IFIs) and Ethical Oversight in South Asia - An Islamic Law Perspective

This book offers a comprehensive examination of Islamic finance as a legal-ethical system rooted in Shariah, highlighting its regulatory, ethical, and institutional dimensions. It critiques prevailing models of Islamic banking for prioritizing technical compliance over justice, accountability, and public welfare, and advances a maqasid-driven vision of regulation. Drawing on comparative case studies from Pakistan, Bangladesh, India, Afghanistan, Sri Lanka, and the Maldives, the book identifies regional challenges while showcasing innovative practices. It introduces the concept of hisbah-based oversight and proposes a South Asian Ethical Finance Council as a framework for aligning financial institutions with Islamic legal and ethical standards. Bridging theory and practice, the study integrates insights from Islamic law, finance, and governance to address pressing regulatory and ethical questions. It is an essential resource for scholars, policymakers, and practitioners of Islamic finance, financial regulation, and comparative law.

List of contents

Chapter 1: Legal Ethics in Islamic Finance.- Chapter 2: Regional Development of Islamic Finance in South Asia.- Chapter 3: Ethical Oversight in Islamic Finance: Institutions and Standards.- Chapter 4: Conclusion: Toward A Coherent Ethical Future for Islamic Finance in South Asia.

About the author

A.H.M. Ershad Uddin
is an Assistant Professor in the Department of Islamic Law, Faculty of Theology at Kocaeli University, Türkiye. He earned his PhD from Marmara University, focusing on the jurisprudential analysis of Islamic banking in Bangladesh. His research spans Sharīʿah governance, Islamic finance, gender and family law, and comparative Islamic legal studies. Dr. Uddin has presented scholarly papers at leading international institutions, including Harvard University Divinity School (2023), Cambridge University (2019), McGill University (2018), University of Edinburgh (2016), and Monmouth University (2016). He has published extensively on Islamic finance, ethics, and the regulation of Islamic institutions, and actively contributes to global debates on the role of Islamic law in financial, economic, and social contexts.

Product details

• Authors: A H M Ershad Uddin, A.H.M. Ershad Uddin
• Publisher: Springer, Berlin
• Languages: English
• Product format: Hardback
• Release: 30.12.2025
• EAN: 9783032098276
• ISBN: 978-3-0-3209827-6
• No. of pages: 262
• Illustrations: XVIII, 262 p. 5 illus., 1 illus. in color.
• Series: Palgrave Studies in Islamic Banking, Finance, and Economics
• Subjects: Social sciences, law, business > Business > International economy; Islam, Finanzrecht, allgemein, Islamic Studies, financial law, International Finance, India Islamic financial law, AAOIFI standards application, Islamic law and finance, Fiqh al-muamalat South Asia, Shariah-compliant fintech, Islamic microfinance ethics, Islamic finance in South Asia, Fiqh-based auditing, Comparative Islamic law, South Asian Islamic banking, Pakistan Shariah compliance, Ethical Islamic banking, Maqasid al-Shariah in finance, Hisbah and Shariah governance, Shariah standards in banking, Halal finance regulation, Takaful in South Asia, Bangladesh Islamic finance, Islamic banking jurisprudence, Islamic financial regulation