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Preliminaries to an Investigation of Reduced Product Set Finance J.A. Bergstra and C.A. Middelburg التصفيات التمهيدية للتحقيق في تخفيض تمويل مجموعة المنتجات J.A. Bergstra و C.A. ميدل

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  • Sami Al-Suwailem

    (Islamic Development Bank Jeddah, Saudi Arabia)

Abstract

This note is motivated by the paper of J.A. Bergstra and C.A. Middelburg: “Preliminaries to an Investigation of Reduced Product Set Finance,” published in this volume of KAU Journal of Islamic Economics. I shall first summarize the main arguments of the authors then present some comments and suggestions. The authors argue that Islamic finance can be presented as conventional finance restricted by prohibition of interest and gharar, along with a few other restrictions. Accordingly, financial products can be constructed by synthesis from a few primitive financial transactions. The authors call this kind of design “reduced product set finance,” and note that this design as such is appealing regardless of the ethical motivations behind it. --

Suggested Citation

  • Sami Al-Suwailem, 2011. "Preliminaries to an Investigation of Reduced Product Set Finance J.A. Bergstra and C.A. Middelburg التصفيات التمهيدية للتحقيق في تخفيض تمويل مجموعة المنتجات J.A. Bergstra و C.A. ميدل," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 24(1), pages 213-224, January.
    • Handle: RePEc:abd:kauiea:v:24:y:2011:i:1:no:8:p:213-224
    DOI: 10.4197/Islec.24-1.8
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    References listed on IDEAS

    as
    1. Al-Suwailem, Sami Ibrahim, 2008. "Islamic Economics in a Complex World: Explorations in Agent-based Simulation (Research Paper)," Occasional Papers 238, The Islamic Research and Teaching Institute (IRTI).
    2. Al-Suwailem, Sami Ibrahim, 2006. "Hedging in Islamic Finance (Occasional Papers)," Occasional Papers 217, The Islamic Research and Teaching Institute (IRTI).
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