Policy Challenges: Building Institutions

Hossein Askari (), Zamir Iqbal and Abbas Mirakhor

Chapter Chapter 12 in Challenges in Economic and Financial Policy Formulation, 2014, pp 233-248 from Palgrave Macmillan

Abstract: Abstract The one thing that all economists and financial experts can surely agree upon is the importance of institutions in all areas of economic activity. In the case of Islamic finance, as its operational essence is risk sharing, it is essential to promote the development of an institutional environment that is conducive for market participants to implement risk-sharing principles. An enabling environment where risk and reward are shared in a fair and systematic manner, rather than being transferred or shifted, can further foster trustworthiness, social solidarity, cooperation and the protection of property rights.

Keywords: Social Capital; Risk Sharing; Islamic Banking; Muslim Country; Policy Challenge (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:psibcp:978-1-137-38199-6_12

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137381996

DOI: 10.1057/9781137381996_12

Access Statistics for this chapter

More chapters in Palgrave Studies in Islamic Banking, Finance and Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().