Islamic Capital Markets

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28 citations0/0 files storedWorld Bank, Washington, DC eBooks

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Islamic Finance and Banking Studies Finance, Markets, and Regulation Halal products and consumer behavior

Abstract

Evaluates the current state of equity and s?uk?k (asset-backed securitized Islamic products) markets, analyzing their role in fostering economic development with shared prosperity. Despite the extraordinary growth of the Islamic banking industry, a great need exists for vibrant and efficient capital markets in the area of Islamic finance. S?uk?k products have raised funds for businesses, supported economic development, provided government financing, and managed liquidity in financial institutions, but the growth of the Islamic capital market has experienced several challenges. A Mid-term Review of the Islamic Financial Services Industry jointly prepared by Islamic Research and Training Institute (IRTI) and the Islamic Financial Services Board (IFSB) highlights some of these and the policy response needed, including (1) creating more incentives for risk sharing; (2) standardizing and harmonizing the approach to Islamic capital market regulation; (3) improving shari‘ah governance; (4) improving market liquidity by addressing the constraints; and (5) strengthening resolution frameworks and investor protection.

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References

1993Finance and Growth: Schumpeter Might Be Right 2005Handbook of Economic Growth 1954Existence of an Equilibrium for a Competitive Economy 2007Finance, inequality and the poor 2005Financialization and the World Economy 1993Financial markets and growth 2014Causal nexus between economic growth, banking sector development, stock market development, and other macroeconomic variables: The case of ASEAN countries 2000Religion, Ethics and Stock Trading: The Case of an Islamic Equities Market

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2014Guarantees and Profit-Sharing Contracts in Project Financing 2012Dispute resolution in the Islamic finance industry in Nigeria 2016Creating and sustaining Islamic financial centers: Bahrain in the wake of financial and political crises 2013An Islamic Finance Model for The Small and Medium-Sized Enterprises in France

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