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The Challenge of Islamic Finance

  • Sheng, Andrew
  • Singh, Ajit

From its humble beginnings in the 1990s, Islamic finance has become a trillion US dollar industry. The market consensus is that Islamic finance has a bright future due to favourable demographics and rising incomes in the Muslim community. Moreover, despite voices sceptical of an accommodation between Islamic and global finance, leading global banks are buying Islamic bonds and forming subsidiaries specially to conduct Islamic finance business. Special laws have been passed in non-Muslim financial centres, - London, Singapore and Hong Kong - to facilitate the operation of Islamic banks and associated financial institutions.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 53044.

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Date of creation: 03 Mar 2012
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Handle: RePEc:pra:mprapa:53044
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  1. Mirakhor, Abbas & Krichene, Noureddine, 2009. "The Recent Crisis: Lessons for Islamic Finance," MPRA Paper 56022, University Library of Munich, Germany.
  2. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
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  6. Sheng,Andrew, 2009. "From Asian to Global Financial Crisis," Cambridge Books, Cambridge University Press, number 9780521118644.
  7. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
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