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9.12. David Bassens: ›Islamic Finance and World Cities‹ [Perspektiven der Moderne]

David Bassens from Brussels will talk about Islamic financial insitutions and their relations to the world economy. Date, time & place: Wednesday 9th of December, 6:00 pm, Heussallee 18-24, großer Saal, 0.109.

9.12. David Bassens: ›Islamic Finance and World Cities‹ [Perspektiven der Moderne]

David Bassens

Speaker

Prof. Dr. David Bassens (Assistant Professor, Vrije Universiteit Brussel, Geography Department)

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Abstract

In this talk I aim to embed thinking about Islamic financial institutions in wider debates about how financial capital is realized in a global relational space. A central insight from historical-geographical materialism is that finance capital accumulation requires the incessant social construction of material circuits of value. Such a perspective hence marries the discursive construction of “emerging markets” to the materialities and spatialities of the circuits in which value is created. Reviewing a number of analyses of firm-, product-, and actor-centred geographies of global Islamic finance, the talk challenges the singular identification of Islamic finance as a localized outcome of shifting societal trends in Muslim-majority countries. Instead, I argue that Islamic finance is an emblematic case of how global finance, operated from world cities in and beyond the Muslim World, produces, operates, and gains from fee-based activities that allow accumulation of the Islamic kind. Such a relational view on Islamic finance, it will be argued, brings into focus a structural, yet not uncontested, continuity in power asymmetries between the Global North and South.

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