Does an Islamic finance industry need a unification of standards? A qualitative discussion
The two main problems faced by the Islamic finance industry in Muslim countries are that the markets are fragmented, which gives rise to different governing standards, and that the markets’ growth is very much region-centric. In this article, using a qualitative approach, we identify the obstacles f...
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Arab Law Quarterly
2017
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| Online Access: | http://irep.iium.edu.my/59558/ http://irep.iium.edu.my/59558/ http://irep.iium.edu.my/59558/ http://irep.iium.edu.my/59558/1/ALQ_031_04_336-362-Ahmed%20et%20al%202017.pdf http://irep.iium.edu.my/59558/7/Does%20an%20Islamic%20Finance%20Industry%20Need%20a%20Unification%20of%20Standards%20A%20Qualitative%20Discussion.pdf |
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iium-595582018-04-18T06:18:20Z http://irep.iium.edu.my/59558/ Does an Islamic finance industry need a unification of standards? A qualitative discussion Ahmed, Aminath Amany Mohamad, Azhar Kashi, Aghilasse HG Finance HG3368 Islamic Banking and Finance The two main problems faced by the Islamic finance industry in Muslim countries are that the markets are fragmented, which gives rise to different governing standards, and that the markets’ growth is very much region-centric. In this article, using a qualitative approach, we identify the obstacles facing the industry in its quest to unify the differences and implement a uniform standard. We argue that if Malaysia’s Islamic finance industry is to become a leader in the global Islamic finance industry, a key policy must be to reduce the gaps in Islamic finance practices between countries by adopting unified standards. Unifying standards could enable Muslim countries to accrue greater benefits from the globalisation of the Islamic financial sector and attract more foreign direct investment and portfolio equity flows. It could also enable greater integration of Islamic financial markets, increase diversification opportunities and expand the set of available financial instruments. Arab Law Quarterly 2017-11 Article PeerReviewed application/pdf en http://irep.iium.edu.my/59558/1/ALQ_031_04_336-362-Ahmed%20et%20al%202017.pdf application/pdf en http://irep.iium.edu.my/59558/7/Does%20an%20Islamic%20Finance%20Industry%20Need%20a%20Unification%20of%20Standards%20A%20Qualitative%20Discussion.pdf Ahmed, Aminath Amany and Mohamad, Azhar and Kashi, Aghilasse (2017) Does an Islamic finance industry need a unification of standards? A qualitative discussion. Arab Law Quarterly, 31 (4). pp. 336-362. ISSN 0268-0556 E-ISSN 1573-0255 http://booksandjournals.brillonline.com/content/journals/10.1163/15730255-12313031 10.1163/15730255-12313031 |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
International Islamic University Malaysia |
| building |
IIUM Repository |
| collection |
Online Access |
| language |
English English |
| topic |
HG Finance HG3368 Islamic Banking and Finance |
| spellingShingle |
HG Finance HG3368 Islamic Banking and Finance Ahmed, Aminath Amany Mohamad, Azhar Kashi, Aghilasse Does an Islamic finance industry need a unification of standards? A qualitative discussion |
| description |
The two main problems faced by the Islamic finance industry in Muslim countries are that the markets are fragmented, which gives rise to different governing standards, and that the markets’ growth is very much region-centric. In this article, using a qualitative approach, we identify the obstacles facing the industry in its quest to unify the differences and implement a uniform standard. We argue that if Malaysia’s Islamic finance industry is to become a leader in the global Islamic finance industry, a key policy must be to reduce the gaps in Islamic finance practices between countries by adopting unified standards. Unifying standards could enable Muslim countries to accrue greater benefits from the globalisation of the Islamic financial sector and attract more foreign direct investment and portfolio equity flows. It could also enable greater integration of Islamic financial markets, increase diversification opportunities and expand the set of available financial instruments. |
| format |
Article |
| author |
Ahmed, Aminath Amany Mohamad, Azhar Kashi, Aghilasse |
| author_facet |
Ahmed, Aminath Amany Mohamad, Azhar Kashi, Aghilasse |
| author_sort |
Ahmed, Aminath Amany |
| title |
Does an Islamic finance industry need a unification of standards? A qualitative discussion |
| title_short |
Does an Islamic finance industry need a unification of standards? A qualitative discussion |
| title_full |
Does an Islamic finance industry need a unification of standards? A qualitative discussion |
| title_fullStr |
Does an Islamic finance industry need a unification of standards? A qualitative discussion |
| title_full_unstemmed |
Does an Islamic finance industry need a unification of standards? A qualitative discussion |
| title_sort |
does an islamic finance industry need a unification of standards? a qualitative discussion |
| publisher |
Arab Law Quarterly |
| publishDate |
2017 |
| url |
http://irep.iium.edu.my/59558/ http://irep.iium.edu.my/59558/ http://irep.iium.edu.my/59558/ http://irep.iium.edu.my/59558/1/ALQ_031_04_336-362-Ahmed%20et%20al%202017.pdf http://irep.iium.edu.my/59558/7/Does%20an%20Islamic%20Finance%20Industry%20Need%20a%20Unification%20of%20Standards%20A%20Qualitative%20Discussion.pdf |
| first_indexed |
2023-09-18T21:24:23Z |
| last_indexed |
2023-09-18T21:24:23Z |
| _version_ |
1777412093639655424 |