Toward Islamic Banking without Tawarruq

Main Article Content

Mohammad Mahbubi Ali

Abstract

Islamic financial products have evolved and developed remarkably from simple and straightforward structures to highly sophisticated and multifaceted instruments. During the 1980s and 1990s, Islamic financial products were dominated by deposits and savings, syndicated project financing, Shari’ahcompliant stocks and mutual funds. The last two decades have witnessed the unveiling of more complicated structures, including various sukuk models, derivatives, Islamic structured products, Islamic hedge funds, and others. Most, though not all, of these replicate conventional products, splicing together nominate contracts from the Islamic fiqh legacy with a few modern modifications to meet legal requirements and to become ‘Shari’ah-compliant’.

Article Details

How to Cite
ALI, Mohammad Mahbubi. Toward Islamic Banking without Tawarruq. Islam and Civilisational Renewal (ICR), [S.l.], v. 8, n. 2, p. 256-259, aug. 2017. ISSN 1394-0937. Available at: <http://www.icrjournal.org/icr/index.php/icr/article/view/640>. Date accessed: 19 sep. 2017.
Section
Viewpoints