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dc.contributor.authorSmolo, Edib
dc.date.accessioned2023-02-28T09:42:41Z
dc.date.available2023-02-28T09:42:41Z
dc.date.issued2020
dc.identifier.citationSmolo E. (2020). Islamic Finance and Limited Purpose Banking (LPB): Two Sides of the Same Coin. In Rafay, A. (Ed.), Growth and Emerging Prospects of International Islamic Banking, (pp. 100-116). Hershey, PA: IGI Global. ISBN 978-1-799-81611-9.en_US
dc.identifier.isbn978-1-799-81611-9en_US
dc.identifier.issn978-1-799-81611-9en_US
dc.identifier.doihttps://doi.org/10.4018/978-1-7998-1611-9.en_US
dc.identifier.urihttp://hdl.handle.net/20.500.14131/477
dc.description.abstractThe saying that “history repeats itself” is best manifested in capitalist financial system operating world- wide. It seems people are not learning lessons from the history of financial crises. Leading economists and capitalist gurus are warning about an inherently fragile capitalist financial system and about an urgent need to do something about it before it is too late. After the recent global financial crisis, Kotlikoff proposed the most radical and the most comprehensive reform of the existing financial system. His pro- posal became known as the Limited Purpose Banking (LPB). Kotlikoff’s proposal runs hand in hand with the aspirations of the pioneers of Islamic finance. He envisioned a financial system that is based on risk sharing, cooperation, and overall public interest (maslahah). In short, the idea of the LPB – after certain modifications and minor adjustments – can be applied in developing a true Islamic financial system. Thus, it can be said that the LPB and Islamic finance are two sides of the same coin.en_US
dc.language.isoenen_US
dc.publisherIGI Globalen_US
dc.subjectIslamic Financeen_US
dc.subjectLimited Purpose Bankingen_US
dc.subjectRisk-Sharingen_US
dc.subjectCapitalismen_US
dc.subjectCapitalist Financial Systemen_US
dc.subjectIslamic Financial Systemen_US
dc.subjectFinancial Crisisen_US
dc.subjectIslamic Bankingen_US
dc.titleIslamic Finance and Limited Purpose Banking (LPB): Two Sides of the Same Coinen_US
dc.typeBook chapteren_US
dc.source.booktitleGrowth and Emerging Prospects of International Islamic Bankingen_US
refterms.dateFOA2023-02-28T09:42:41Z
dc.source.pages100-116en_US
dc.contributor.departmentFinanceen_US


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