دانلود مقاله مسائل مربوط به بانکداری اسلامی و امور مالی
Highlights
Abstract
Keywords
JEL classification
1. Introduction
2. Islamic banking
3. Shari’ah-compliant financial investment
4. Sukuk (Islamic bonds)
5. Looking forward
Acknowledgment
References
Abstract
This introductory article of the special issue “Islamic Banking and Finance II” highlights various studies on fast-growing Islamic finance industry. It focuses specifically on Islamic banking and Islamic capital market research. To date, scholarly research on Islamic finance is mainly confined to empirical verification of its performance on the argument that the Islamic finance is distinct from conventional finance. While more works need to be done to soundly and concretely justify the viability of Islamic finance, future works should aim at placing the Islamic foundations of the industry in proper theoretical settings beyond the statement that it is different. In addition, theoretically and empirically, demonstration of its bearings on economic well-beings and policies such as economic stability, financial inclusion, economic development, and stabilization policies is needed.
1. Introduction
The recent interest in Islamic banking and finance is not only driven by its rapid growth but also by recurring financial crises over the past decade with the recent global financial crisis of 2007 – 2009 to be the most severe. By the end of 2014, the total assets of the Islamic financial industry is estimated to surpass $ 2 trillion and, with this estimate, the compounded average growth rate of the total Islamic assets would be 17.3% over 2010-2014 (Malaysia International Islamic Financial Centre, 2014). A more spectacular development of the Islamic finance industry, in addition to its rapid growth in Southeast Asia and the Middle East, is its penetration into non-Muslim countries primarily in Europe and North America (Pollard and Samers, 2007). At present, the Islamic financial sector is no longer a business entity operated only to fulfil the religious obligations of the Muslim community but to cater the needs and demands of new customers as well. The recent global financial crisis has added further to the attraction of Islamic finance to practitioners, monetary authorities and academic scholars in their search for a viable and resilient alternative financial system.