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Principles of Islamic Capital Market

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  • Ahmad Audu Maiyaki

    () (Bayero University)

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.

Suggested Citation

  • Ahmad Audu Maiyaki, 2013. "Principles of Islamic Capital Market," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(4), pages 278-283, October.
  • Handle: RePEc:hur:ijaraf:v:3:y:2013:i:4:p:278-283
    as

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    References listed on IDEAS

    as
    1. 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.
    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. Ulrich Derigs & Shehab Marzban, 2008. "Review and analysis of current Shariah-compliant equity screening practices," International Journal of Islamic and Middle Eastern Finance and Management, Emerald Group Publishing, vol. 1(4), pages 285-303, November.
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