Global Financial crisis and Islamic finance: Is Islamic finance provides way out of the Global Financial crisis crisis
The world economy is currently facing a severe global crisis that has spilled from the financial sector to the real economy. The crisis can be traced back to July 2007 with the liquidity crisis due to the loss of confidence in the mortgage credit markets in the United States. The hope was that the crisis would be restricted to financial markets, with few repercussions on the real economy and the rest of the world. This hope was shattered in September 2008 as the crisis entered an acute phase, with strong downward fluctuations in the stock markets, substantially reduced rates of economic growth, and accompanied by increases in unemployment. The severity of this crisis has led to the evaluation of the foundations of the capitalist financial system and the search for ideas and solutions.Islamic economists contend that Islamic finance has an alternative that would prevent the recurrence of a similar crisis. This paper tries to note the main causes and the impacts...
More books by Hussein Alasrag
Ghaida Khazna Katbi. Islamic Land Tax - Al-Kharaj: From the Islamic Conquests to the Abbasid Period (Contemp. Arab Scholarship in the Social Sciences)
In this exhaustive survey of the institution of al-kharaj -- land tax in Islam -- Ghaida Khazna Katbi provides a comprehensive and minutely detailed history of a practice which evolved from an exigency of conquest into an essential pillar of the early Islamic state. At the time of the Muslim ...
Brian Kettell has a wealth of practical experience in the area of Islamic banking and finance. He is currently based in London and works as a specialist Trainer and Consultant in Islamic banking and finance. He worked for several years as an Economic Advisor for the Central Bank of Bahrain ...
Industry experts are predicting that the growth of the Islamic Finance industry will exceed 20 per cent per annum. Other experts believe that in the future, the Islamic Finance industry could become a major competitor to the conventional finance industry. Islamic Finance is expected spread ...
From one of today’s leading Muslim scholars, this compelling look at how the Prophet Muhammad has been portrayed throughout the centuries offers a fascinating history of the diversity of Islamic cultures and beliefs.The Prophet Muhammad has been revered for more than fifteen centuries. Today, ...