A CONTEMPORARY REVIEW OF ISLAMIC FINANCE AND ACCOUNTING LITERATURE

M. Kabir Hassan, Sirajo Aliyu and Mumtaz Hussain ()
Additional contact information
Sirajo Aliyu: ��Department of Banking and Finance, RM 20 Annex New Building — School of Business Studies, Federal Polytechnic, Bauchi, Nigeria
Mumtaz Hussain: ��Policy Development and Review Department International Monetary Fund (IMF), 700 19th St. NW, Washington, DC 20431, United States

The Singapore Economic Review (SER), 2022, vol. 67, issue 01, 7-44

Abstract: This paper reviews empirical studies with a particular interest in Islamic finance literature and highlights future research directions. The earlier literature on Islamic finance was built on the Islamic economic foundation of social justice and fairness, which was formed theoretically from the primary sources of Sharia coupled with some analytical frameworks. Subsequent studies emphasized the empirical investigations without including far-reaching analytical and theoretical postulations in the area. Although empirical studies on Islamic banking are plenty, there is a new body of emerging empirical literature on Islamic finance focusing on corporate finance and Takaful, whereas Islamic accounting studies are mostly qualitative. The literature provides a mixed picture of Islamic financial markets and instruments, showing that the Islamic ones perform better most of the time but also perform worse at times than their conventional counterparts. This paper discusses issues that are relevant to Islamic finance and identifies avenues for future research and policy implications.

Keywords: Islamic Capital Markets; Islamic Corporate Finance; Islamic Accounting; Insurance (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0217590819420013
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:serxxx:v:67:y:2022:i:01:n:s0217590819420013

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0217590819420013

Access Statistics for this article

The Singapore Economic Review (SER) is currently edited by Euston Quah

More articles in The Singapore Economic Review (SER) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().