Principles and instruments of Islamic financial Institutions

Tatiana, Nikonova and Igor, Kokh and Liliya, Safina,(2015), Principles and instruments of Islamic financial Institutions. , Procedia Economics and Finance, UNSPECIFIED

[thumbnail of Principles and instruments of Islamic financial institutions.pdf] Text
Restricted to Repository staff only

Download (527kB) | Request a copy

Abstract

Islamic financial institutions are part of the modern world economy and subject to the same economic laws as any other traditional financial market participants. Statesmen and traditional banks see a promising business opportunity in Islamic banking and finance. The mechanism of Islamic capital market is differs from the well-known. Economic agents are guided not only by legal rules but also by the rules prescribed in the Holy Scripture, the Quran. Islamic finance provides a variety of financial products. The main instruments of financing used by Islamic financial institutions have some distinctive features: estimating the value of any asset on the basis of its real value, every contract is concluded exclusively on one type of financial services, a clear definition of the prices of goods/services, a clear definition of the share of each partner in profit/loss.
Keywords : Islamic economic model; Islamic financial institutions; Islamic financial products, UNSPECIFIED
Journal or Publication Title: Procedia Economics and Finance
Volume: 24
Number: UNSPECIFIED
Item Type: Article
Subjects: Ekonomi Islam
Depositing User: Heru Prastyo
Date Deposited: 26 Dec 2019 06:22
Last Modified: 27 Dec 2019 07:16
URI: https://repofeb.undip.ac.id/id/eprint/847

Actions (login required)

View Item
View Item