Ng, Adam and Ibrahim, Mansor and Mirakhor, Abbas,(2015), On building social capital for Islamic finance. , International Journal of Islamic and Middle Eastern Finance and Management, UNSPECIFIED
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Abstract
Purpose – The purpose of this paper is to set forth seven broad recommendations and 15 specific
initiatives within a four-dimensional framework for the development of social capital in Islamic finance,
particularly the stock market, given its role as the first best means of risk sharing.
Design/methodology/approach – The four-dimensional framework comprises dimensions of
principle and value, trust-reinforcing regulation, investment opportunity and infrastructure, as well as
reputational intermediaries.
Findings – A web of multi-pronged initiatives that are mutually reinforcing is proposed considering
the multifaceted dimensions of social capital and the various possible transmission channels by which
social capital can influence the financial system.
Practical implications – While empirical studies have demonstrated the importance of trust and
ethics in financial development, the pressing issue remains how social capital, including trust and
ethics, can be developed to achieve a trustworthy, ethical and efficient financial system. This paper
attempts to address this concern.
Originality/value – This paper provides a framework for building social capital in Islamic finance
Keywords : | Policymaking, Social capital, Institutional economics, Islamic capital markets, Risk sharing in Islamic banking, UNSPECIFIED |
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Journal or Publication Title: | International Journal of Islamic and Middle Eastern Finance and Management |
Volume: | 8 |
Number: | 1 |
Item Type: | Article |
Subjects: | Ekonomi Islam |
Depositing User: | Users 15 not found. |
Date Deposited: | 26 Dec 2019 03:51 |
Last Modified: | 26 Dec 2019 03:51 |
URI: | https://repofeb.undip.ac.id/id/eprint/787 |