Open AccessIslamic Finance: A Review Of The Literature
Author(s) -
Jean Yves Moisseron,
Bruno Laurent Moschetto,
Frédèric Teulon
Publication year - 2015
Publication title -
the international business and economic research journal/the international business and economics research journal
Language(s) - English
Resource type - Journals
eISSN - 2157-9393
pISSN - 1535-0754
DOI - 10.19030/iber.v14i5.9375
Subject(s) - islam , sharia , mainstream , position (finance) , islamic finance , islamic banking , globalization , subject (documents) , business , order (exchange) , islamic economics , political science , economy , accounting , economics , finance , law , geography , archaeology , library science , computer science
In recent years, a number of Islamic banks have been created to cater to the growing demand, driven by globalization and the vast wealth of some Muslim states in the Middle East and Southeast Asia, and Islamic finance has moved from a niche position to become a mainstream component of the global banking system. Islamic banking refers to a financial system which is consistent with principles of Islamic law (or sharia) and guided by Islamic ethics. A large amount of research has been undertaken into this subject. This paper presents islamic finances role in the new world order.