Financial Markets: An Islamic Perspective

Yousif Khalifa Al-Yousif
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Yousif Khalifa Al-Yousif: United Arab Emirates University, College of Business and Economics(CBE), Postal: P.O.Box 15551, Al-Ain, United Arab Emirates, http://www.uaeu.ac.ae/

Economia Internazionale / International Economics, 2000, vol. 53, issue 3, 277-298

Abstract: Financial markets are essential for the efficient allocation of resources in developed and developing countries alike. However, modem financial markets are, in many respects, in violation of a number of Islamic rules of doing business. So how can Muslims reap the advantages of financial markets, as intermediaries between savers and investors, without being in conflict with the basic teachings of their faith? The present paper attempts to answer this question by assessing the operation of modem financial markets from an Islamic perspective and then by offering a possible Islamic alternative.

JEL-codes: G11 G12 G15 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0237

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