Chicago Journal of International Law


This Article is divided into three parts, excluding this Introduction. In part II, I briefly discuss the contemporary practice of Islamic finance and the interpretive principles that gave rise to it. Part III explains precisely why, from the standpoint of potential investors such as my father, this practice is deeply, ontologically flawed. Part IV sets forth another model of an Islamic financial institution, based on functional approaches to the jurisprudence, and explains the benefits provided by such an institution.