The Stability of Islamic Finance: Creating a Resilient Financial Environment for a Secure Future (Wiley Finance)
Author | : | |
Rating | : | 4.36 (586 Votes) |
Asin | : | 0470825197 |
Format Type | : | paperback |
Number of Pages | : | 256 Pages |
Publish Date | : | 2013-07-22 |
Language | : | English |
DESCRIPTION:
As a core component of this focus, the book will consider episodes of turbulence and instability in a historical context recalling the occurrence of such events from mid-19th century to the present. The debt crisis of the low income countries will also be part of this discussion. Particular emphasis will be placed on the present financial crisis and its causes as well the financial crisis of the 1997 in Southeast Asia, Russia, and Latin America relating these episodes to the fundamental features of the dominant system. The Stability of Islamic Finance main focus is on the question of the sources of financial instability which seems inherent in the conventional system. It will present various theoretical explanations along with solutions and alternative financial systems that avoid instability provided by various scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of an Islamic financial system and show that at its core, this system shares many characteristics of an stable financial system proposed by Western scholars throughout history to avoid the inherent instability of t
He has extensive experience with capital markets, structured products, risk management, financial sector development, and financial modeling. in Economics from Kansas State University in 1969. ABBAS MIRAKHOR received his Ph.D. PROF. He is co-author of several books on Islamic banking and finance.DR. He is the author of
An Interesting Argument if you want an overview of the state of Islamic finance, and learn an argument for, as the title states, the stability of islamic finance, then this is worth a read.The authors are all academics or officials, so they tend to a liberal view of what constitutes Islamic finance, something of a problem since there is a sort of "geography of Islamic finance" with some regions more liberal than others.Ibraham Warde has a free book I
In order to maintain their payments, rediscounting and borrowing from the central bank become pillars for their smooth operation. The flow of debt across borders facilitates the transmission of financial instability across countries. In this path-breaking book, the authors develop an analytical case for the inherent stability of an Islamic financial system, a system that is based on equity financing and risk sharing. Central banks create money out of thin air and support a rapid expansion of credit that exposes banks to systemic risks, in the form of a general collap