Developmental trends of global Islamic finance

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Islamic finance is a tested and a trusted concept in the world today. Both Muslims and non-Muslims, irrespective of the faith convictions are adopting it. The financial crises of global economy have been proving the viability and sustainability of Islamic finance. However, it shall not be forgotten that once there was time in which the world questioned about the practicability of Islamic finance. There were also times at which Islamic finance was associated with terrorism financing and it was perceived that due to Islamic phobia which triggered after September 9/11, the growth of Islamic finance will be inhibited. Looking back to these times, there are people who still keep wondering on how Islamic finance has emerged as an alternative to the conventional finance which has been accepted as the only way of financing for a long period of time. As such, it is imperative to understand the developmental trends of global Islamic finance with the newly emerging challenges pausing as threats to the sustainability of the global Islamic finance industry. It is anticipated that this paper will help us understand the global development of Islamic finance from its inception up until now.
Development , Islamic finance , Islamic law
Muneeza, A. (2014). Developmental trends of global Islamic finance. Malayan Law Journal, 6, pp. xiii-xxv.
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