Preliminaries to an Investigation of Reduced Product Set Finance J.A. Bergstra and C.A. Middelburg التصفيات التمهيدية للتحقيق في تخفيض تمويل مجموعة المنتجات J.A. Bergstra و C.A. ميدل

Sami Al-Suwailem ()
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Sami Al-Suwailem: Islamic Development Bank Jeddah, Saudi Arabia

Journal of King Abdulaziz University: Islamic Economics, 2011, vol. 24, issue 1, 213-224

Abstract: This note is motivated by the paper of J.A. Bergstra and C.A. Middelburg: “Preliminaries to an Investigation of Reduced Product Set Finance,” published in this volume of KAU Journal of Islamic Economics. I shall first summarize the main arguments of the authors then present some comments and suggestions. The authors argue that Islamic finance can be presented as conventional finance restricted by prohibition of interest and gharar, along with a few other restrictions. Accordingly, financial products can be constructed by synthesis from a few primitive financial transactions. The authors call this kind of design “reduced product set finance,” and note that this design as such is appealing regardless of the ethical motivations behind it. --

Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:abd:kauiea:v:24:y:2011:i:1:no:8:p:213-224

DOI: 10.4197/Islec.24-1.8

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