Current Financial Crisis and Islamic Economics الأزمة المالية الحالية والاقتصاد الإسلامي

Mohammed Najatullah Siddiqi ()
Additional contact information
Mohammed Najatullah Siddiqi: Islamic Economics Institute King Abdulaziz University, Jeddah, Saudi Arabia

Chapter 1 in Issues in the International Financial Crisis from an Islamic Perspective-05 قضايا في الأزمة المالية العالمية من منظور إسلامي - 5, 2009, pp 1-9 from King Abdulaziz University, Islamic Economics Institute.

Abstract: The current crisis emanating from US financial markets and spreading to other developed and fast developing countries like China, India and Brazil, is threatening a global meltdown leaving the entire world poorer and full of forebodings regarding future .It started as a credit crunch due to highly overstretched leverage, was aggravated by the complexity of the products and reached its zenith due to moral failure generating conflicts of interest and mismatch between incentives of the various groups and individuals involved in the saga. Islamic economics stands for abolition of riba and maysir in financial dealings as well as on a regard for the interest of others in one’s pursuit of material gains. --

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://iei.kau.edu.sa/Files/121/Files/158930_FinancialCrisis.pdf#page=5 (application/pdf)

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:abd:ieibch:31

Access Statistics for this chapter

More chapters in Chapters of books published by the Islamic Economics Institute, KAAU or its faculty members. from King Abdulaziz University, Islamic Economics Institute. Contact information at EDIRC.
Bibliographic data for series maintained by King Abdulaziz University, Islamic Economics Institute. ().