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Books > Business & Economics > Finance & accounting > Finance > Corporate finance
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Economic Development and Islamic Finance (Paperback)
Loot Price: R1,253
Discovery Miles 12 530
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Economic Development and Islamic Finance (Paperback)
Series: Directions in Development
Expected to ship within 10 - 15 working days
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Over the last three decades, the concepts of Islamic finance and
Islamic economics have captured the attention of researchers. The
growing market for transactions compatible with Islamic law
(Shari-ah) is further evidence of growing interest in this mode of
finance. By some estimates, the total volume of Islamic financial
assets has grown by 15 to 20 percent a year since 1990 and now
exceeds $1.3 trillion. The growth of the Islamic financial sector
in 2006 10 period surpassed the growth of conventional financial
sector in all segments of the market, ranging from commercial
banking, investment banking, and fund management to insurance in
several Muslim-majority countries. The growth of this market has
been driven by the high demand for Shari-ah-compliant products, as
well as the increasing liquidity in Gulf region due to high oil
revenues. Following on from the significant developments that have
occurred in what is viewed as the core area for this market the
predominantly Muslim countries we are now witnessing the
globalization of Islamic finance. In recent years, significant
interest in Islamic finance has emerged in the world s leading
conventional financial centers, including London, New York, and
Hong Kong, and Western investors are increasingly considering
investment in Islamic financial products. Although Islamic finance
is one of the fastest growing segments of emerging global financial
markets, it is often stated that the market is far below its true
potential. At the same time, the concepts of Islamic finance are
not fully explained and exploited especially in the areas of
economic development, inclusion, access to finance, and public
policy. This volume attempts to highlight some of the key features
of Islamic finance relevant to economic development. The objective
of the volume is to improve understanding of the perspective of
Islamic finance on economic development, social and economic
justice, human welfare, and economic growth."
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