CURRENT STATE AND PROSPECTS OF DEVELOPMENT OF THE ISLAMIC FINANCIAL SYSTEM
Abstract
The article presents the detailed analysis of the current state of the Islamic financial system at global scale: the structure, quantitative indicators and main trends. The topicality of the research theme is called forth by the growing influence of the Islamic finance industry at global scale, as well as by the emerging processes of this industry interaction with the Russian economy (in the Republic of Tatarstan in particular). The Islamic financial system structure analysis includes the main types of Islamic financial institutions, main principles and features of the models of their activity, and the prospects of their development. It was stated that the Islamic finance industry has great potential for development as a whole, as well as its certain segments in particular. The carried out analysis can be applied for determining the strategy of development of the Islamic financial institutions in different regions (especially if their activity is not subject to special regulation).
About the Author
I. R. Iskhakov
State Establishment «Centre for Prospective Economic Research» of the Republic of Tatarstan Academy of Sciences
Russian Federation
Russian Federation
References
1. McKenzie D. Islamic Finance Report 2010. - London: International Financial Services, 2010.
2. Dar H. Global Islamic Finance Report 2010. - London: BMB Islamic, 2010.
3. McNamara P. Islamic Wealth Management. - Dubai: Yasar Media, 2009.
4. Nazim A., Balcombe J., Stanley M. World Takafol Report 2010. - URL: www.ey.com
5. Obaidullah M. Introduction to Islamic Microfinance. - New Dehli: International Institute of Islamic Business and Finance, 2008.
6. Goud B. Islamic Finance in North America. - Dubai: Yasaar Media, 2009.
7. URL: www.islangels.com
8. URL: www.muslimangels.com
9. URL: www.1stethical.com/business-angels
10. URL: www.middleeastinvestmentnetwork.com
11. Ahmed O.B. Islamic Equity Funds. - Jeddah: Islamic Research and Training Institute, 2001.
12. Khan T., Muljawan D. Islamic Financial Architecture: Risk Management and Financial Stability. - Jeddah: Islamic Research and Training Institute, 2006.
13. Laldin A.M. Shari'ah Supervision of Islamic Banking From Regulatory Perspective. - Kuala-Lumpur: International Sharia Research Academy, 2009.
14. Parker M. World's first supra-sovereign wealth fund. - URL: www.arabnews.com
15. Unal M., Ley C. Shariah Scholars in the GCC - A Network Analytic Perspective. - URL: www.funds-at-work.com.
16. Usmani M.T. An Introduction to Islamic Finance. - Karachi: Idaratul Ma`arif, 1998.
Review
For citations:
Iskhakov I.R. CURRENT STATE AND PROSPECTS OF DEVELOPMENT OF THE ISLAMIC FINANCIAL SYSTEM. Actual Problems of Economics and Law. 2011;(3):170-174. (In Russ.)
Views:
138
Email this article 
