Islamic Financial in the Global Financial System
Journal Title: Asian Economic and Financial Review - Year 2012, Vol 2, Issue 1
Abstract
This paper investigates the question of whether the phenomenon of Islamic finance who based on Shariah, or Islamic law is truly globalizing and spreading as a universal system of finance and banking. The paper also addresses various aspects of the globalization for Islamic finance, among other, the issue of the rise of Islamic banking in the world, Islamic jurisprudence and finance, global standards and integration for Islamic finance, and obstacles facing Islamic finance's integration and growth into the global financial system. the paper suggested three key areas of priority warrant greater policy attention to further strengthen and enhance the entire Islamic financial ecosystem, through putting in place building blocks that will strengthen the resilience of the Islamic financial system and by the application of mutually acceptable rules and standards.
Authors and Affiliations
Ahmad M. Mashal| Faculty of Business Studies Arab Open University/ Jordan P.O.Box 1339 Amman 11953 Jordan
Keywords
Related Articles
- EP ID EP1760
- DOI -
- Views 700
- Downloads 61
THE EFFECT OF CORPORATE GOVERNANCE ON FIRM PERFORMANCE, EVIDENCE FROM EGYPT
Corporate governance is well thought-out to have major implications for the growth prediction of an economy. Fine corporate governance practices are viewed as important in decreasing risk for investors; catch the attenti...
THRESHOLD EFFECTS IN THE RELATIONSHIPS OF REITS AND OTHER FINANCIAL SECURITIES IN DEVELOPED COUNTRIES
We use a Panel Smooth Transition Regression model (PSTR) to investigate the nonlinear dynamic relationship between financial variables and REITs of Japan and U.S with 3-month interest rate change as threshold variable....
Trade Liberalization, Poverty and Inequality Nexus: A Case Study of India
The paper attempted to see the relationship between trade liberalization and poverty andinequality in India. For trade liberalization, volume of trade as ratio of GDP, head countratio for poverty and Gini-coefficient has...
MODELING NIGERIAN GOVERNMENT EXPENDITURE, REVENUE AND ECONOMIC GROWTH: CO-INTEGRATION, ERROR CORRECTION MECHANISM AND COMBINED ESTIMATORS ANALYSIS APPROACH
Nigeria?s Economic growth has been one of the topical issues attracting several attentions in the recent time. This paper therefore seeks to model and investigate the impact of capital expenditure, recurrent expenditure...
CREDIT PORTFOLIO SELECTION ACCORDING TO SECTORS IN RISKY ENVIRONMENTS: MARKOWITZ PRACTICE
In this study, it was researched that how the rate of repayment of loans will be increased and how the credit risk will be minimized in banking sector, by using Markowitz Portfolio Theory. Construction, textile and whole...