Topical issues related to the formation of the Islamic financial system: at the intersection of philosophy and practice

Magomet Yandiev ()
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Magomet Yandiev: Department of Economics, Lomonosov Moscow State University
Authors registered in the RePEc Author Service: Magomet Iandiev ()

No 4, Working Papers from Moscow State University, Faculty of Economics

Abstract: The so-called Islamic finance is an intensively developing segment of the world finance. It puts a great amount of not so much practical but complex theoretical questions to the financial regulator and professional participants of financial markets. In search of answers financial analytics have to use some philosophical tools of scientific analysis and decision-making. Just a question to illustrate the problem: At what level (protein, cell, DNA, molecule, atom, proton, etc.) does pork cease to be meat tabooed for Muslims and become a biological material that may be used?

Keywords: Islamic finance; Islamic banking; riba; gharar; maisir (search for similar items in EconPapers)
JEL-codes: E44 F29 F30 G00 (search for similar items in EconPapers)
Pages: 7 pages
Date: 2013-11
New Economics Papers: this item is included in nep-mac
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