The Challenge of Islamic Finance
AbstractFrom its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim financial centres, - London, Singapore and Hong Kong - to facilitate the operation of Islamic banks and associated financial institutions.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 53044.
Date of creation: 03 Mar 2012
Date of revision:
Islamic Finance; Islamic bonds; global banks; financial institutions;
Find related papers by JEL classification:
- F3 - International Economics - - International Finance
- F30 - International Economics - - International Finance - - - General
- G2 - Financial Economics - - Financial Institutions and Services
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