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Financial Markets: An Islamic Perspective

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Financial markets are essential for the efficient allocation of resources in developed and developing countries alike. However, modem financial markets are, in many respects, in violation of a number of Islamic rules of doing business. So how can Muslims reap the advantages of financial markets, as intermediaries between savers and investors, without being in conflict with the basic teachings of their faith? The present paper attempts to answer this question by assessing the operation of modem financial markets from an Islamic perspective and then by offering a possible Islamic alternative.

Suggested Citation

  • Al-Yousif , Yousif Khalifa, 2000. "Financial Markets: An Islamic Perspective," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 53(3), pages 277-298.
    • Handle: RePEc:ris:ecoint:0237
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    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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