The Islamic Financial System : A Critical Analysis and Suggestions for Improving Its Efficiency
by
Sami Tamer
Book Details
Format
Paperback / Softback
ISBN-10
3631530196
ISBN-13
9783631530191
Publisher
Peter Lang AG
Imprint
Peter Lang AG
Country of Manufacture
DE
Country of Publication
GB
Publication Date
Feb 18th, 2005
Print length
193 Pages
Weight
264 grams
Dimensions
14.90 x 21.00 x 1.20 cms
Product Classification:
FinanceFinance and the finance industry
Ksh 9,950.00
Manufactured on Demand
0 in stock
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Quality
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This study deals with the Islamic financial system and investigates the financial instruments utilized in it. Apart from the problems related to the prohibition of interest, the suggested concept for the Islamic financial system could not be applied in practice. Profit and Loss-Sharing instruments have been utilized on a small scale so far and it would be very difficult to increase the attractiveness of these financial instruments without easing Islamic legal restrictions or at least reconsidering relevant issues from both, the Islamic socio-economic and ethical viewpoint, as well as the position of conventional finance. An improvement of efficiency may not be possible without taking a fresh look at Islamic injunctions while considering at the same time contemporary financial realities and needs such as investment opportunities, risk diversification and regulatory issues.
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