Islamic Finance: Distant Perspectives for a Full-fledged Financial Model Formation
https://doi.org/10.17803/1994-1471.2017.77.4.065-071
Abstract
The article is devoted to the study of peculiarities of an Islamic financial model. The key conclusion of the article reads as follows: Islamic finance is not an established model of financial relations. The Islamic financial model (IFM) has not yet developed its own concepts with regard to a number of methodological issues arising from the requirements imposed by Sharia on finance and it uses the concepts adopted from conventional finance models. Therefore, despite its name, the IFM has not become a model yet and, despite promising perspectives, it is still an integral part of the traditional financial system.
References
1. Macroprudential Regulation and Policy for the Islamic Financial Industry / M. Zulkhibri, A.G. Ismail, S. Emir (editors). - Springer International Publishing Switzerland, 2016.
2. Bekkin R. Credit in the Structure of the Market Quotation of Financial Assets in Relation to the Islamic Financial Law (September, 2011) // URL: http://ssrn.com/abstract=1929384.
3. Kostandyan B. Sukuk vs Conventional Bonds: a Value-at-Risk Based Comparative Analysi // Journal of Russian Review. - 2015. - Vol. 2 (3). - 36-49. - ISSN 2313-1578.
4. Ulpan Atazhan. Subjects of Islamic Finance in Modern Financial Studies (June, 2011). Available at SSRN: http://ssrn.com/abstract=1868194.
Review
For citations:
Yandiev M.I. Islamic Finance: Distant Perspectives for a Full-fledged Financial Model Formation. Actual Problems of Russian Law. 2017;(4):65-71. (In Russ.) https://doi.org/10.17803/1994-1471.2017.77.4.065-071
Views:
460
Email this article 