Islamic finance, growth, and stability

Zubair Hasan

MPRA Paper from University Library of Munich, Germany

Abstract: Economists regard the financial and the real sectors of an economy as complementary; the two sides of the same coin. Islamic finance conceives of these sectors differently, albeit not independent of each other. Islamic approach is distinct in that it shuns interest, speculation and indeterminacy. At the same time, it is not independent because Islam allows a time value for money, and maintains of asset liquidity plus system stability as its guiding business principles. The discussion n the subject is scanty. This paper seeks to fill the gap. A diversion briefly discusses debt versus equity as sources for financing growth bringing in technology.

Keywords: Islam; finance; Stability, Profit sharing; Debt; Equity; Technology Islam; finance; Stability, Profit sharing; Debt; Equity; Technology Islam; Finance; Growth, Stability; Technology (search for similar items in EconPapers)
JEL-codes: E1 E6 (search for similar items in EconPapers)
Date: 2021-08, Revised 2022-02
New Economics Papers: this item is included in nep-hme, nep-isf, nep-mac and nep-ore
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