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Development needs of the Islamic banking industry

In: Risk and Regulation of Islamic Banking

Author

Listed:
  • Mohamed Ariff
  • Mervyn K. Lewis
  • Shamsher Mohamad

Abstract

From a single product offering in 1963, the Islamic financial services industry has grown to an estimated $1.6 trillion in assets. Products must comply with profit and risk-sharing criteria and regulations preventing banks from venturing into activities with high risk and excessive uncertainty. This timely volume analyses these matters and considers the range of new products, discussing both conceptual and practical dimensions. It connects Islamic finance to the mainstream theoretical literature on financial intermediation while also exploring its differences. The expert contributors also examine why an ethical foundation is important and why the system requires well-thought-out regulations to ensure outcomes that protect the community’s well-being.

Suggested Citation

  • Mohamed Ariff & Mervyn K. Lewis & Shamsher Mohamad, 2014. "Development needs of the Islamic banking industry," Chapters, in: Mervyn K. Lewis & Mohamed Ariff & Shamsher Mohamad (ed.), Risk and Regulation of Islamic Banking, chapter 17, pages 301-314, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15843_17
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    References listed on IDEAS

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    3. Guoma Alrgibi & Mohamed Ariff & Louis Murray, 2010. "What factors discriminate developed and emerging capital markets?," Applied Economics Letters, Taylor & Francis Journals, vol. 17(13), pages 1293-1298.
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    Asian Studies; Economics and Finance;

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