Muhammad Akram Khan
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Muhammad Akram Khan is a Pakistani scholar of Islamic law.
In 1988, while he was an audit officer for that country's government, he wrote "Commodity Exchange and Stock Exchange in Islamic Economy," for The American Journal of Islamic Social Sciences.
The essay is notable because it makes a very sweeping denunciation of many contemporary western, and far eastern, practices in finance. His prescriptions amount to a more restrictive view than that of most scholars in the field.
He writes, for example, that "futures trading is alien to Islamic law as it involves trading without actual transfer of the commodity or stock to the buyer, which is explicitly prohibited by the Prophet."
[edit] Works
- Economic Teachings of Prophet Muhammad (1989)
