Browsing by Topic Islamic finance::Fundamentals of Islamic finance

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  • 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 5 to 5 of 5
  • 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...