Recent Economic Crises Have Made The Centrality Of Debt, And The Instability It Creates, Increasingly Apparent. This Realization Has Led To Cries For Change - Yet There Is Little Popular Awareness Of Possible Alternatives. Beyond Debt Describes Efforts To Create A Transnational Economy Free Of Debt. Based On Ethnographic Fieldwork In Malaysia, Daromir Rudnyckyj Illustrates How The State, Led By The Central Bank, Seeks To Make The Country's Capital Kuala Lumpur The New York Of The Muslim World - The Central Node Of Global Financial Activity Conducted In Accordance With Islam. Rudnyckyj Shows How Islamic Financial Experts Have Undertaken Ambitious Experiments To Create More Stable Economies And Stronger Social Solidarities By Facilitating Risk- And Profit-sharing, Enhanced Entrepreneurial Skills, And More Collaborative Economic Action. Building On Scholarship That Reveals The Impact Of Financial Devices On Human Activity, He Illustrates How Islamic Finance Is Deployed To Fashion Subjects Who Are At Once More Pious Muslims And More Ambitious Entrepreneurs. In So Doing, Rudnyckyj Shows How Experts Seek To Create A New Geoeconomics - A Global Islamic Alternative To The Conventional Financial Network Centered On New York, London, And Tokyo. A Groundbreaking Analysis Of A Timely Subject, Beyond Debt Tells The Captivating Story Of Efforts To Re-center International Finance In An Emergent Islamic Global City And, Ultimately, To Challenge The Very Foundations Of Conventional Finance. Introduction: Pious Finance In The Islamic Global City -- Infrastructure -- An Infrastructure For Islamic Finance -- Expertise In Action -- Counterdebt -- Operations -- Making Bonds Islamic -- Adjacent System Or Original Knowledge? -- Consuming Form, Investing In Substance -- Problematization -- Experimenting With Risk -- Subjects Of Debt, Subjects Of Equity -- Conclusion: An Emergent Geoeconomics. Daromir Rudnyckyj. Includes Bibliographical References And Index.

upload/motw_shc_2025_10/shc/Beyond Debt_ Islamic Experiment - Daromir Rudnyckyj.pdf

motw/Beyond Debt_ Islamic Experiment - Daromir Rudnyckyj.pdf

Daromir Rudnyckyj

NUS Press

United States, United States of America

Chicago, 2019

Chicago, 2018

Nov 22, 2018

First, 2018

producers:
Adobe PDF Library 9.9

Memory of the World Librarian: Calamitous Annunciation

Source title: Beyond Debt: Islamic Experiments in Global Finance

Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change—yet there is little popular awareness of possible alternatives.
Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country’s capital Kuala Lumpur “the New York of the Muslim world”—the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action. Building on scholarship that reveals the impact of financial devices on human activity, he illustrates how Islamic finance is deployed to fashion subjects who are at once more pious Muslims and more ambitious entrepreneurs. In so doing, Rudnyckyj shows how experts seek to create a new “geoeconomics”—a global Islamic alternative to the conventional financial network centered on New York, London, and Tokyo. A groundbreaking analysis of a timely subject, Beyond Debt tells the captivating story of efforts to re-center international finance in an emergent Islamic global city and, ultimately, to challenge the very foundations of conventional finance.
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Contents 6
Introduction: Pious Finance in the Islamic Global City 10
Part I. Infrastructure 32
Chapter 1. An Infrastructure for Islamic Finance 34
Chapter 2. Expertise in Action 61
Chapter 3. Counterdebt 95
Part II. Operations 108
Chapter 4. Making Bonds Islamic 110
Chapter 5. Adjacent System or Original Knowledge? 134
Chapter 6. Consuming Form, Investing in Substance 159
Part III. Problematization 174
Chapter 7. Experimenting with Risk 176
Chapter 8. Subjects of Debt, Subjects of Equity 205
Conclusion: An Emergent Geoeconomics 223
Acknowledgments 230
Appendix A: Methodological Notes 234
Appendix B: Glossary of Islamic Financial Terms 240
Notes 244
References 250
Index 266

"Recent economic crises have made the centrality of debt, and the instability it creates, increasingly apparent. This realization has led to cries for change--yet there is little popular awareness of possible alternatives. Beyond Debt describes efforts to create a transnational economy free of debt. Based on ethnographic fieldwork in Malaysia, Daromir Rudnyckyj illustrates how the state, led by the central bank, seeks to make the country's capital Kuala Lumpur "the New York of the Muslim world"--the central node of global financial activity conducted in accordance with Islam. Rudnyckyj shows how Islamic financial experts have undertaken ambitious experiments to create more stable economies and stronger social solidarities by facilitating risk- and profit-sharing, enhanced entrepreneurial skills, and more collaborative economic action. Building on scholarship that reveals the impact of financial devices on human activity, he illustrates how Islamic finance is deployed to fashion subjects who are at once more pious Muslims and more ambitious entrepreneurs. In so doing, Rudnyckyj shows how experts seek to create a new "geoeconomics"--a global Islamic alternative to the conventional financial network centered on New York, London, and Tokyo. A groundbreaking analysis of a timely subject, Beyond Debt tells the captivating story of efforts to re-center international finance in an emergent Islamic global city and, ultimately, to challenge the very foundations of conventional finance"--Provided by publisher

2025-10-27