The Analysis on the Introduction of Islamic Financial Model in Ethnic Region in Gansu, China

Haiying Ma and Yike Yao

International Journal of Financial Research, 2014, vol. 5, issue 1, 114-118

Abstract: The United States sub-loan crisis has caused a serious worldwide financial crisis. However, during the time when lots of western financial institutions broke down, Islamic financial institutions just received tiny impacts. The unique investment philosophies of Islamic finance draws more and more people¡¯s attention. Linxia Hui Autonomous Prefecture, which is called ¡°the eastern Mecca¡±, has gained the humanistic connotations and environmental advantage of Islamic culture by nature. Thus, it will be easy to establish the relationship of cultural communication and financial cooperation. To set up an Islamic financial model which suits the economic characteristics of the ethnic region will solve the problem of bottleneck on financing effectively. It may also make a contribution to avoid financial crisis, increase the vitality of substantial economic, combine Islamism to modern financial system, as well as prompt the economical stable development.

Keywords: Islamic financial model; ethnic regions; investment philosophy; Linxia (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:5:y:2014:i:1:p:114-118

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