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

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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
Item Type: Article
Subjects: Ekonomi Islam
Depositing User: Heru Prastyo
Date Deposited: 26 Dec 2019 06:22
Last Modified: 27 Dec 2019 07:16

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