Introducing Islamic finance in unchartered economies: the case of Canada
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The primary goal of this paper is to explore the viability of initiating Islamic finance (IF) in an unchartered economy. Canada is taken as a case study for this paper. To achieve our objective, we proceed in two stages. The first stage involves the analysis of market opportunities for IF. More precisely, the first stage involves the cost/benefit analysis which would enable the IF industry to see whether it is feasible for them to initiate. Second, the more challenging stage involves the analysis with regard to the barriers in offering IF products.
Islamic finance , Unchartered economy , Developed countries
Abdul Hamid, B., Ali, M., Naeem Azmi, C. W., & Anwer, Z. (2017). Introducing Islamic finance in unchartered economies: the case of Canada. In Syed Aun Raza Rizvi & Irum Saba (Eds.), Developments in Islamic finance: challenges and initiatives (pp. 121-145). United Kingdom: Palgrave Macmillan.