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Principles of Islamic Capital Market

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  • Ahmad Audu Maiyaki

    ()
    (Bayero University)

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    Abstract

    This article aims at reviewing the basic concepts and principles of Islamic Capital Market (ICM). Hence, issues related to the ICM such as its components, norms and ethics of transaction, Sukuk structuring, stock selection criteria, regulatory and legal framework and challenges facing ICM were discussed. The method adopted is essentially literature review, as such the chapter is conceptual in nature. It was concluded that the ICM is rapidly growing and there is a huge potentials waiting to be exploited in the market. Finally, it was recommended that the ICM of the countries that adopted the Islamic finance should be enhanced by developing innovative products strictly in conformity with the provisions of Shari’ah.

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    File URL: http://hrmars.com/hrmars_papers/Article_29_Principles_of_Islamic_Capital_Market.pdf
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    Bibliographic Info

    Article provided by Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences in its journal International Journal of Academic Research in Accounting, Finance and Management Sciences.

    Volume (Year): 3 (2013)
    Issue (Month): 4 (October)
    Pages: 278-283

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    Handle: RePEc:hur:ijaraf:v:3:y:2013:i:4:p:278-283

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    Web page: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal

    Related research

    Keywords: Islamic capital market; Islamic financial system; Sukuk and Shari’ah;

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    1. Ulrich Derigs & Shehab Marzban, 2008. "Review and analysis of current Shariah-compliant equity screening practice," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 1(4), pages 285-303, November.
    2. Azhar Abdul Rahman & Mohd Azlan Yahya & Mohd Herry Mohd Nasir, 2010. "Islamic norms for stock screening: A comparison between the Kuala Lumpur Stock Exchange Islamic Index and the Dow Jones Islamic Market Index," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 3(3), pages 228-240, August.
    3. Andreas Jobst & Peter Kunzel & Paul Mills & Amadou Sy, 2008. "Islamic bond issuance: what sovereign debt managers need to know," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 1(4), pages 330-344, November.
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