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Credit in the Structure of the Market Quotation of Financial Assets in Relation to the Islamic Financial Laws


  • Magomet Yandiev

    () (Department of Economics, Lomonosov Moscow State University)

  • Renat Bekkin

    () (Mardjani Foundation, Moscow State Institute of International Relations (University))


The authors analyze the structure of the market quotation of financial assets and come to the conclusion that one of its components is a financial asset identical with a commercial credit. Hence, in terms of the Islamic financial system any financial asset is inappropriate for investment because its quotation contains elements of danism. The authors demonstrate a new approach to the structure of the Islamic infrastructure of exchange trading by financial assets, which would allow excluding elements unacceptable from the point of view of Sharia.

Suggested Citation

  • Magomet Yandiev & Renat Bekkin, 2013. "Credit in the Structure of the Market Quotation of Financial Assets in Relation to the Islamic Financial Laws," Working Papers 0008, Moscow State University, Faculty of Economics.
  • Handle: RePEc:upa:wpaper:0008

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    More about this item


    Islamic finance; Islamic banking; riba; gharar; maisir;

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • F29 - International Economics - - International Factor Movements and International Business - - - Other
    • F30 - International Economics - - International Finance - - - General
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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