Credit in the Structure of the Market Quotation of Financial Assets in Relation to the Islamic Financial Laws

Magomet Yandiev () and Renat Bekkin ()
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Magomet Yandiev: Department of Economics, Lomonosov Moscow State University
Renat Bekkin: Mardjani Foundation, Moscow State Institute of International Relations (University)
Authors registered in the RePEc Author Service: Magomet Iandiev ()

No 8, Working Papers from Moscow State University, Faculty of Economics

Abstract: The authors analyze the structure of the market quotation of financial assets and come to the conclusion that one of its components is a financial asset identical with a commercial credit. Hence, in terms of the Islamic financial system any financial asset is inappropriate for investment because its quotation contains elements of danism. The authors demonstrate a new approach to the structure of the Islamic infrastructure of exchange trading by financial assets, which would allow excluding elements unacceptable from the point of view of Sharia.

Keywords: Islamic finance; Islamic banking; riba; gharar; maisir (search for similar items in EconPapers)
JEL-codes: E44 F29 F30 G12 G14 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2013-12
New Economics Papers: this item is included in nep-ara and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:upa:wpaper:0008

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