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A Split in The Middle East Financial System

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  • Oprea Raluca Ioana

    (“Lucian Blaga†University of Sibiu, Romania)

Abstract

In the Middle East, it has been proven that religious and cultural particularities can have adecisive impact on the economic environment. In this way, has developed Islamic financial system,a counterpart to the conventional one, that is based on the principles of Shari’ah. A niched systemaccording to addressability but also to the degree of geographical spreading, Islamic financialsystem increases with higher rates than the conventional one. Although the financial market in thiscase is closely related to real market. Islamic and conventional systems resilience is similar. TheMiddle East economy seems ready to host in parallel both types, certainty that is proven by theUnited Arab Emirates, a state that operates with a share of nearly 20% of Islamic finance, whichaims to become the regional financial hub in the future.

Suggested Citation

  • Oprea Raluca Ioana, 2017. "A Split in The Middle East Financial System," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 573-577, June.
    • Handle: RePEc:ovi:oviste:v:xvii:y:2017:i:1:p:573-577
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    References listed on IDEAS

    as
    1. Issam Tlemsani & Huda Al Suwaidi, 2016. "Comparative Analysis of Islamic and Conventional Banks in the UAE During the Financial Crisis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(6), pages 298-309.
    2. Issam Tlemsani & Huda Al Suwaidi, 2016. "Comparative Analysis of Islamic and Conventional Banks in the UAE During the Financial Crisis," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 6(6), pages 298-306, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Conventional economics; globalization; Islamic economics; Middle East financial system; Islamic finance;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • G1 - Financial Economics - - General Financial Markets
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems

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