Enhancing Islamic Finance: Establishing an Islamic Stock Market that Overcomes Problems of the Existing Stock Market

Andrew Sheng and Ajit Singh

Working Papers from Centre for Business Research, University of Cambridge

Abstract: This contribution is concerned with the desirability and feasibility of establishing Islamic stock markets within the current global context. There is at present deep disaffection with stock markets in advanced countries. A central contention of this paper is that the proponents of Islamic stock market will find it easier than their UK counterparts to implement an ethically based programme which is regarded as essential for successful reform. Stronger ethical underpinnings of the Islamic stock market will give it a decisive edge in world markets. The time for Islamic stock markets has therefore come.

Keywords: Islamic finance; stock market; Kay review; capitalism; globalisation (search for similar items in EconPapers)
JEL-codes: A10 A13 P4 (search for similar items in EconPapers)
Date: 2012-12
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