Islamic Stock Markets in a Global Context

Andrew Sheng and Ajit Singh

MPRA Paper from University Library of Munich, Germany

Abstract: This study is a sequel to the 2012 Sheng and Singh article that identified and explained the significance of the two central tenets of Islamic finance: namely, its underpinning by a strong ethical system, and the absolute prohibition of the use of interest rates. That study also argued that the cooperation between the conventional Western system and the Islamic system is eminently sensible and will lead to a Pareto optimal increase in world welfare

Keywords: Islamic Finance; interest rates; western system (search for similar items in EconPapers)
JEL-codes: G2 P4 P49 (search for similar items in EconPapers)
Date: 2013-01-26
New Economics Papers: this item is included in nep-ara and nep-fmk
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Published in Economic Development and Islamic Finance: Directions in Development Chapter 10 (2013): pp. 275 -296

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