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Enhancing Islamic Finance: Establishing an Islamic Stock Market that Overcomes Problems of the Existing Stock Market

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  • Andrew Sheng
  • Ajit Singh

Abstract

This contribution is concerned with the desirability and feasibility of establishing Islamic stock markets within the current global context. There is at present deep disaffection with stock markets in advanced countries. A central contention of this paper is that the proponents of Islamic stock market will find it easier than their UK counterparts to implement an ethically based programme which is regarded as essential for successful reform. Stronger ethical underpinnings of the Islamic stock market will give it a decisive edge in world markets. The time for Islamic stock markets has therefore come.

Suggested Citation

  • Andrew Sheng & Ajit Singh, 2012. "Enhancing Islamic Finance: Establishing an Islamic Stock Market that Overcomes Problems of the Existing Stock Market," Working Papers wp437, Centre for Business Research, University of Cambridge.
    • Handle: RePEc:cbr:cbrwps:wp437
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    More about this item

    Keywords

    Islamic finance; stock market; Kay review; capitalism; globalisation;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • P4 - Political Economy and Comparative Economic Systems - - Other Economic Systems

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