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Islamic Finance: A Literature Review

In: Islamic Finance and Sustainable Development

Author

Listed:
  • M. Kabir Hassan

    (University of New Orleans)

  • Ashraf Khan

    (Institute of Business Administration (IBA))

  • Andrea Paltrinieri

    (Università Cattolica del Sacro Cuore)

Abstract

The fundamentals of Islamic Finance are deeply rooted in the Islamic civilization and originated from Islamic jurisprudence and laws. After the global financial crises, it has emerged as an alternative system of conducting financial affairs based on mutual risk-sharing with a lower level of systemic risk to mitigate social inequalities and uplift the unprivileged segment of society. Consequently, a large body of research has developed discussing theoretically and empirically the different segments of Islamic finance. This study content analyzed 92 articles published in important mainstream journals indexed both in Scopus and Web of Science (WOS). The results reveal that Islamic financial institutions and instruments, in general, have a robust structure of corporate governance, better asset quality, and are less exposed to systemic risk than their counterpart.

Suggested Citation

  • M. Kabir Hassan & Ashraf Khan & Andrea Paltrinieri, 2021. "Islamic Finance: A Literature Review," Springer Books, in: M. Kabir Hassan & Mehmet Saraç & Ashraf Khan (ed.), Islamic Finance and Sustainable Development, chapter 0, pages 77-106, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-76016-8_5
    DOI: 10.1007/978-3-030-76016-8_5
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    Cited by:

    1. Dibooglu, Sel & Cevik, Emrah I. & Tamimi, Hussein A. Hassan Al, 2022. "Credit default risk in Islamic and conventional banks: Evidence from a GARCH option pricing model," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 396-411.
    2. Khalil Ullah Mohammad & Mohsin Raza Khan, 2021. "Bank Capital Structure Dynamics and Covid-19: Evidence from South Asia," iRASD Journal of Economics, International Research Alliance for Sustainable Development (iRASD), vol. 3(3), pages 293-304, December.
    3. Sofya Glavina & Irina Aidrus & Anna Trusova, 2021. "Assessment of the Competitiveness of Islamic Fintech Implementation: A Composite Indicator for Cross-Country Analysis," JRFM, MDPI, vol. 14(12), pages 1-16, December.
    4. Sureka, Riya & Kumar, Satish & Colombage, Sisira & Abedin, Mohammad Zoynul, 2022. "Five decades of research on capital budgeting – A systematic review and future research agenda," Research in International Business and Finance, Elsevier, vol. 60(C).
    5. Sharina Tajul Urus & Intan Salwani Mohamed, 2021. "A Flourishing Fintech Ecosystem: Conceptualization and Governing Issues in Malaysia," Business and Economic Research, Macrothink Institute, vol. 11(3), pages 106-131, December.

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