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Islamic Finance: Debt versus Equity Financing in the Light of Maqasid al-Shari'ah

Author

Listed:
  • Eddy Yusof, Ezry Fahmy
  • Kashoogie, Jhordy
  • Anwar Kamal, Asim

Abstract

A hot topic among Islamic economists is the debt versus equity debate. Which of the two are more in line with justice and equality? Which of them is more productive in fulfilling the greater objectives of the Shariah? This paper is divided into sections. After the introduction, it is followed by problem statement as well as objective of the study. After that, section 4 briefs the research questions for answering the analysis in this paper. Section 5 deals with discussion obtained from literature review whichhighlights important issues regarding Maqasid Al-Shari’ah in term of justice and equality vis-àvis the current practice as well as ideal model of Islamic banking and finance. Finally, this paper ends up with conclusion.

Suggested Citation

  • Eddy Yusof, Ezry Fahmy & Kashoogie, Jhordy & Anwar Kamal, Asim, 2009. "Islamic Finance: Debt versus Equity Financing in the Light of Maqasid al-Shari'ah," MPRA Paper 20722, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:20722
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    File URL: https://mpra.ub.uni-muenchen.de/20722/1/MPRA_paper_20722.pdf
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    References listed on IDEAS

    as
    1. Chapra, Mohammad Umar, 2008. "The Islamic Vision of Development in the Light of the Maqasid Al-Shari'ah (Research Paper)," Occasional Papers 235, The Islamic Research and Teaching Institute (IRTI).
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    Cited by:

    1. Ngalim, Siti Manisah & Ismail, Abdul Ghafar, 2015. "An Islamic Vision Development Based Indicators in Analysing the Islamic Banks Performance: Evidence from Malaysia, Indonesia and selected GCC Countries," Working Papers 1436-2, The Islamic Research and Teaching Institute (IRTI).

    More about this item

    Keywords

    productivity; justice; Equality; Islamic finance; debt financing; equity financing; maqasid shariah;

    JEL classification:

    • D20 - Microeconomics - - Production and Organizations - - - General
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General

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