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Islamic Economics and Finance – a Revival After the Recent Global Financial Crisis?

Author

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  • Laura-Ramona Benchea

    (Bucharest University of Economic Studies, Faculty of International Business and Economics)

Abstract

The recent global financial crisis has brought into light some defaults and vulnerabilities of the conventional financial system that need to be thoroughly examined in order to prevent any further disorder for the world increasingly interconnected economies. Under these circumstances, the focus on the Islamic economics and finance and their underlying ideology has intensified as a consequence of the incremental need for alternative solutions to the traditional financial system which has already displayed its limits. This paper tries to explore the main characteristics of the Islamic economic and financial system and to examine to what extent its ideology may prevent further financial instabilities.

Suggested Citation

  • Laura-Ramona Benchea, 2015. "Islamic Economics and Finance – a Revival After the Recent Global Financial Crisis?," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 2-6, May.
    • Handle: RePEc:ovi:oviste:v:xv:y:2015:i:2:p:2-6
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    More about this item

    Keywords

    financial crisis; Islam; Islamic economics and finance;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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