A Brief Overview of Islamic Finance: From Madinah Market to Wall Street

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dc.IAW.KSANAen_US
dc.IR.KSANAen_US
dc.SDGs.KSASDG 1en_US
dc.SDGs.KSASDG 10en_US
dc.contributor.alumnae0en_US
dc.contributor.authorSmolo, Edib
dc.contributor.authorRaheem, Mohamed Mahees
dc.contributor.departmentFinanceen_US
dc.contributor.firstauthorSmolo, Edib
dc.contributor.labNAen_US
dc.contributor.pgstudent0en_US
dc.contributor.researcherDepartment Collaborationen_US
dc.contributor.ugstudent0en_US
dc.date.accessioned2024-11-10T10:07:51Z
dc.date.available2024-11-10T10:07:51Z
dc.date.issued2024-11-07
dc.description.abstractMany lessons have been learned by the global financial system at the aftermath of the Global Health Crisis (GHC), which could last till the financial crisis occurred in 2008–2009 (global financial crisis [GFC]). As such, the system started facing the deep-rooted questions about regulatory reforms. Amidst a perilous situation, Islamic finance (IF) had demonstrated clear evidence of strong muscles into something that countries appreciate as the tool for money intermediation. It constitutes a brief introduction to the way Islamic Financial System or IFS (1) came forth in the past and (2) continues nowadays. The paper starts with the stating the maqasid al-Shari’ah (goals of the Shari’ah),which are the fundamental objectives of the legal system in Islam. Then, it highlights the key concepts, unique features, andmodes of financing that are unique within the IFS. The integration of Islamic financial institutions (IFIs) into the global economy is covered and IF as well as global financial dynamics at large discussed with the closing comments mirroring IF complexity on the background of global economy. This segment alone has posted very significant gain of almost US$3 trillion, which is projected to rise further to US$6.7 trillion by 2027 – a clear indication of its outreach and accessibility to all.en_US
dc.identifier.citationSmolo, E. & Raheem, M.M. (2024). A brief overview of Islamic finance: From Madinah Market to the Wall Street. In Smolo, E. & Raheem, M.M. (Eds.). The Future of Islamic Finance: From Shari’ah Law to Fintech (pp. 1–14). Leeds: Emeralden_US
dc.identifier.isbn9781835499078en_US
dc.identifier.urihttp://hdl.handle.net/20.500.14131/1855
dc.publisherEmerald Publishing Limiteden_US
dc.research.classifTheoreticalen_US
dc.source.booktitleThe Future of Islamic Finance: From Shari’ah Law to Fintechen_US
dc.source.indexScopusen_US
dc.source.pages1-14en_US
dc.subjectIslamic financeen_US
dc.subjectIslamic bankingen_US
dc.subjectIslamic Financial Systemen_US
dc.subjectShari’ahen_US
dc.subjectIslamic lawen_US
dc.subjectMaqasid al-Shari’ahen_US
dc.subject.KSAEconomies of the Futureen_US
dc.titleA Brief Overview of Islamic Finance: From Madinah Market to Wall Streeten_US
dspace.entity.typePublication
refterms.dateFOA2024-11-10T10:07:52Z
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