Islamic finance: an overview
Views & Download
The recurring financial crises with the global financial crisis as a latest example have placed the financial markets operating on the basis of interest rate, normally referred as conventional financial markets, under close scrutiny. While some have looked at ways and means to fix the instability inherent in the conventional interest-based system, others have searched for alternative financial systems. In this respect, the Islamic financial system seems to offer a promising avenue for future financial resiliency and stability. However, to date, this view has been largely circulated within professional circles and only recently it has become a topic of academic inquiries.
Islamic finance , Global financial crisis , Interest rate , Islamic financial system
Ibrahim, M. H., & Mirakhor, A. (2014). Islamic finance: an overview. Pacific-Basin Finance Journal, 28, pp. 2–6.