Viability of GDP linked sovereign paper as replacement of sovereign debt: a shariah compatible risk sharing approach
Over the past decades much effort and research has gone into establishing a viable set of Islamic financial institutions. An area of utmost importance, which still has gaping holes, is the development of instruments for government financing on a global level. Most developing countries including the bulk of Muslim nations, are heavily indebted with high reliance on multilateral financing primarily based on high interest rates. This vicious cycle of interest rates and debt have stunted the growth of these nations and worsened the conditions of the masses. This research brings to the forefront the concept of an equity in nature GDP linked paper, which allows for enhanced risk sharing based sovereign financing ...
Gross domestic product , Developing countries , Risk (Islamic law) , Islamic finance , Islamic banking
Rizvi, S. A. R. (2014). Viability of GDP linked sovereign paper as replacement of sovereign debt: a shariah compatible risk sharing approach (Doctoral dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/2411