Islamic Banking : Growth, Stability and Inclusion by Nafis Alam, Syed Aun R. Rizvi

By Nafis Alam, Syed Aun R. Rizvi

This publication specializes in present concerns impacting the Islamic banking procedure globally. The contributions introduce readers to present study and literature within the box and spotlight components of power scholarly improvement inside Islamic banking reports. The chapters are a number of case reviews, theoretical reports, and empirical examine in the global of Islamic banking. The contributions examine new advancements inside of Islamic banks from OIC member international locations, Malaysia and the GCC. specific awareness is paid to the formative insolvency case of Arcapita financial institution in bankruptcy 6. different chapters offer distinct dialogue of the buildings, advertising actions and items of Islamic banks, and distinction them with these of counterpart traditional banks. via this edited assortment, readers are given specialist perception into modern, serious matters dealing with the growing to be sphere of Islamic banking.

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The rise of financial capitalism: International capital markets in the age of reason. Cambridge, UK: Cambridge University Press. North, D. (1990). Institutions, institutional change, and economic performance. Cambridge, UK: Cambridge University Press. , (2008). Introduction to Islamic microfinance. New Delhi: International Institute of Islamic Business and Finance. O. (1998). Financial intermediation & economic growth in developing countries. Journal of Economic Studies, 25(3), 203–224. A. (2014).

On average, 28 % adults in the OIC countries hold a bank account at a formal financial institution. 7 % of the poorest 40 % people in the OIC countries borrow from financial institutions. Furthermore, in the OIC countries, like Guinea-Bissau, Gabon, Chad, Sudan, Syria, Mozambique, Gambia, and Iraq, microfinance outreach are not even catering to the 1 % of the poor people in these countries. In 26 out of 36 OIC countries where sufficient data are available, we find that not even 10 % of the poor people are under the microfinance radar.

The products though Shari’ah compliant are structured to compete with mainstream conventional banking industry. The idealists want a more revolutionary assimilation of Islamic 3 ROLE OF ISLAMIC BANKING IN FINANCIAL INCLUSION 37 banking to create a distinctive mark on financial landscape right from the beginning. In what follows, we give a brief sketch of how the idealists and the realists have assessed the performance of Islamic banking practice so far. Akram and Furqani (2013) explicate three specific ends (Maqasid) in Islamic finance, namely wealth circulation, fair and transparent financial practices, and justice at the micro- and macro-level.

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