IDEAS home Printed from https://ideas.repec.org/a/bde/journl/y2016i10n3.html
   My bibliography  Save this article

Islamic finance: developments and outlook

Author

Listed:
  • Isabel Garrido
  • María Méndez
  • Pablo Moreno

Abstract

Islamic finance encompasses instruments and institutions governed by Islamic law or the Shari’ah, which implies that most assets take the form of contracts linked to an underlying asset. In recent years, Islamic finance has grown significantly, outpacing conventional finance, driven by the rise of emerging economies with Islamic jurisdictions, its gradual internationalisation, and the rising demand among the Muslim population worldwide, which has very low rates of access to and use of bank services. The future development of Islamic finance will require qualitative changes in terms of aligning its regulatory and supervisory standards to the reference Basel regulatory framework.

Suggested Citation

  • Isabel Garrido & María Méndez & Pablo Moreno, 2016. "Islamic finance: developments and outlook," Economic Bulletin, Banco de España, issue OCT, pages 33-41, October.
  • Handle: RePEc:bde:journl:y:2016:i:10:n:3
    as

    Download full text from publisher

    File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/InformesBoletinesRevistas/BoletinEconomico/descargar/16/oct/Files/be1610-art3e.pdf
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bde:journl:y:2016:i:10:n:3. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ángel Rodríguez. Electronic Dissemination of Information Unit. Research Department. Banco de España (email available below). General contact details of provider: https://edirc.repec.org/data/bdegves.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.