Browsing by Topic Islamic finance::Fundamentals of Islamic finance

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  • limited_purpose_banking_Islamic_finance_could_LPB_model_applied_Islamic_finance_edib_abbas.pdf.jpg
  • Journal Article


  • Authors: Smolo, Edib; Mirakhor, Abbas (2014)

  • This paper primarily aims to review and analyze a new model for Islamic finance based on Laurence J. Kotlikoff's idea of limited purpose banking (LPB). In addition, this paper aims to highlight, explain and discuss various aspects of LPB and how it suits the original aspirations of pioneer writers in Islamic finance. Based on an extensive literature review, this paper aims to highlight, explain and discuss the reform of the Islamic finance industry based on Kotlikoff's model of LPB. Based on a modified LPB model, Islamic financial institutions could be established to provide specific services with clear aims and objectives. These LPB Islamic financial institutions would operate in a s...

  • recent crisis_lessons for Islamic finance_Abbas.pdf.jpg
  • Journal Article


  • Authors: Mirakhor, Abbas; Krichene, Noureddine (2009-09-01)

  • Two alternative explanations of the financial crisis have emerged. One relies on deviations from the efficient capital market hypothesis - emergence of bubbles and informational problems - to explain the causes of the crisis. An alternative explanation views financial crises as internally generated instability episodes that inevitably arise from the basic debt-credit interest rate relations. Based on a number of assumptions, theory has demonstrated the inherent stability of Islamic financial system. However, in practice the assumptions of theory are not met and, therefore, such stability cannot be taken for granted. For one thing, theory, inter alia, assumes a 100 percent reserve bank...

Browsing by Topic Islamic finance::Fundamentals of Islamic finance

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 4 to 5 of 5
  • limited_purpose_banking_Islamic_finance_could_LPB_model_applied_Islamic_finance_edib_abbas.pdf.jpg
  • Journal Article


  • Authors: Smolo, Edib; Mirakhor, Abbas (2014)

  • This paper primarily aims to review and analyze a new model for Islamic finance based on Laurence J. Kotlikoff's idea of limited purpose banking (LPB). In addition, this paper aims to highlight, explain and discuss various aspects of LPB and how it suits the original aspirations of pioneer writers in Islamic finance. Based on an extensive literature review, this paper aims to highlight, explain and discuss the reform of the Islamic finance industry based on Kotlikoff's model of LPB. Based on a modified LPB model, Islamic financial institutions could be established to provide specific services with clear aims and objectives. These LPB Islamic financial institutions would operate in a s...

  • recent crisis_lessons for Islamic finance_Abbas.pdf.jpg
  • Journal Article


  • Authors: Mirakhor, Abbas; Krichene, Noureddine (2009-09-01)

  • Two alternative explanations of the financial crisis have emerged. One relies on deviations from the efficient capital market hypothesis - emergence of bubbles and informational problems - to explain the causes of the crisis. An alternative explanation views financial crises as internally generated instability episodes that inevitably arise from the basic debt-credit interest rate relations. Based on a number of assumptions, theory has demonstrated the inherent stability of Islamic financial system. However, in practice the assumptions of theory are not met and, therefore, such stability cannot be taken for granted. For one thing, theory, inter alia, assumes a 100 percent reserve bank...