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Islamic financial product innovation


  • Fouad H. Al-Salem


Purpose - The purpose of this paper is to study the financial product innovativeness of Islamic financial institutions. Design/methodology/approach - A qualitative research methodology is used to collect and analyze the views of practitioners and researchers of Islamic finance. Different assessments are noted which raise the issue of lack of clarity on that subject. Findings - Innovation levels of Islamic financial institutions are low owing to the development of Islamic finance as a new activity. Research limitations/implications - The data available for the study are limited to the views of a small sample of practitioners and researchers in the field of Islamic finance. Practical implications - The major practical implication is the necessity of developing financial product innovativeness programs as a means for survival and growth. Originality/value - The paper demonstrates the value of Islamic financial product innovation within the wider context of product innovation.

Suggested Citation

  • Fouad H. Al-Salem, 2009. "Islamic financial product innovation," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 2(3), pages 187-200, August.
  • Handle: RePEc:eme:imefpp:v:2:y:2009:i:3:p:187-200

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    References listed on IDEAS

    1. Shirley Chiu & Robin G. Newberger & Anna L. Paulson, 2005. "Islamic finance in the United States: a small but growing industry," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue May.
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    Cited by:

    1. Gratiela Dana BOCA & Lindita MUKAJ & Erjon DUKA, 2014. "A Cross Cultural Quality House in a Global Economy," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 9-16.
    2. Michael T. Skully, 2012. "Securitization Issues and Islamic Financial Products with Reference to Sukuk," Chapters,in: The Islamic Debt Market for Sukuk Securities, chapter 8 Edward Elgar Publishing.
    3. Zurina Shafii & Shahida Shahimi & Adel Saaid, 2016. "The Factors that Influence the Conversion Process from Conventional Banks into Islamic Banking in Libyan Conventional Banks: Proposing Conceptual Framework," International Journal of Academic Research in Management and Business, International Journal of Academic Research in Management and Business, vol. 1(2), pages 77-87, October.


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