Economic development and Islamic finance
By: Zamir Iqbal and Abbas Mirakhor, Editors
Series: Directions in development finance
Publisher: The World Bank Group; World Bank Publications
Published: 2013
Place of publication: Washington, D.C
Language: eng
Number of pages: 348
ISBN-13: 9780821399538; 9780821399545
Subjects: Finance; Islam; Economic development
Description: Over the last three decades, the concepts of Islamic finance and Islamic economics have captured the attention of researchers. The growing market for transactions compatible with Islamic law (Shari-áh) is further evidence of growing interest in this mode of finance. By some estimates, the total volume of Islamic financial assets has grown by 15 to 20 percent a year since 1990 and now exceeds 1.3 trillion. The growth of the Islamic financial sector in 2006-10 period surpassed the growth of conventional financial sector in all segments of the market, ranging from commercial banking, investment.