LEADER 05457oam 22006735 450 001 9910822025503321 005 20200520144314.0 010 $a0-8213-9954-3 024 7 $a10.1596/978-0-8213-9953-8 035 $a(CKB)2670000000417987 035 $a(EBL)1463586 035 $a(OCoLC)857718184 035 $a(SSID)ssj0000980873 035 $a(PQKBManifestationID)12388681 035 $a(PQKBTitleCode)TC0000980873 035 $a(PQKBWorkID)10968804 035 $a(PQKB)11629400 035 $a(MiAaPQ)EBC1463586 035 $a(Au-PeEL)EBL1463586 035 $a(CaPaEBR)ebr10745131 035 $a(CaONFJC)MIL546821 035 $a(The World Bank)17706453 035 $a(US-djbf)17706453 035 $a(EXLCZ)992670000000417987 100 $a20130422d2013 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $2rdacontent 182 $2rdamedia 183 $2rdacarrier 200 00$aEconomic development and Islamic finance /$f[edited by] Zamir Iqbal and Abbas Mirakhor 210 1$aWashington, DC :$cThe World Bank Group,$d2013. 215 $a1 online resource (pages cm) 225 1 $aDirections in Development 300 $aDescription based upon print version of record. 311 $a0-8213-9953-5 327 $aFront Cover; Title Page; Copyright Page; Contents; Foreword; Acknowledgments; Contributors; Abbreviations; Overview; Views on Economic Development; The Islamic Concept of Economic Development; Summary of Chapters; References; PART 1 Theoretical Foundation; Chapter 1 Epistemological Foundation of Finance: Islamic and Conventional; An Ideal Conventional Financial System; An Ideal Islamic Finance System; Achieving the Ideal: Uncertainty, Risk, and Equity Markets; Summary and Conclusion; References; Background Reading 327 $aChapter 2 Islamic Finance Revisited: Conceptual and Analytical Issues from the Perspective of Conventional EconomicsIntroduction; The Central Tenet of Islamic Finance: Absolute Prohibition against Interest Rates; Ethical Foundations of Islamic Finance; Modigliani and Miller Theorems; Risk Sharing, Risk Shifting, and the Risks of Bankruptcy; The Stock Market and Islamic Finance; Interim Summary of the Main Findings and Two Further Questions; Islamic Finance and Economic Development; The Real Challenge of Islamic Finance; Conclusion; Notes; References 327 $aChapter 3 The Foundational Market Principles of Islam, Knightian Uncertainty, and Economic JusticeIntroduction; The Foundational Islamic Market Principles; Knightian Uncertainty and the Islamic View of Uncertainty; Institutional Development, Trust, and Uncertainty; Islamic Contracts and Risk Sharing; Research Agenda for Islamic Economics: A Proposal; Concluding Remarks; Notes; References; PART 2 Developmental Aspects; Chapter 4 Finance and Development in Islam: A Historical Perspective and a Brief Look Forward; Introduction; Basic Characteristics of an Islamic Economy and Finance 327 $aImplementationHistorical Evidence; Stagnation and Decline; Relevance for Today: What Needs to Be Done?; Conclusion; Notes; References; Chapter 5 Economic Development in Islam; The Evolution of Western Thinking on Development; Economic Development in Islam; Concluding Comments; Notes; References; Chapter 6 Islam's Perspective on Financial Inclusion; What Is Financial Inclusion and Why Is It Important?; Issues with the Conventional Approach to Financial Inclusion; The Concept of Financial Inclusion in Islam; Redistributive Instruments of Islam; Public Policy Implications 327 $aGovernment as the Risk Manager Promoting Risk SharingNeed for Developing a Supportive Institutional Framework; Institutionalization of Islamic Redistributive Instruments; Conclusion; Notes; References; Chapter 7 Financial Inclusion and Islamic Finance: Organizational Formats, Products, Outreach, and Sustainability; Introduction; Inclusive Finance: Scope and Constraints; Islamic Finance and Inclusive Finance; Islamic Inclusive Finance: An Overview and Comparison; Organizational Formats, Services, Outreach, and Sustainability; Conclusion; Notes; References 327 $aChapter 8 Theory and Instruments of Social Safety Nets and Social Insurance in Islamic Finance: Takaful and Ta'min 330 $aOver the last three decades, the concepts of Islamic finance and Islamic economics have captured the attention of researchers. The growing market for transactions compatible with Islamic law (Shari-a?h) is further evidence of growing interest in this mode of finance. By some estimates, the total volume of Islamic financial assets has grown by 15 to 20 percent a year since 1990 and now exceeds 1.3 trillion. The growth of the Islamic financial sector in 2006-10 period surpassed the growth of conventional financial sector in all segments of the market, ranging from commercial banking, investment b 410 0$aWorld Bank e-Library. 606 $aFinance$zIslamic countries 606 $aFinance$xReligious aspects$xIslam 606 $aEconomic development$zIslamic countries 615 0$aFinance 615 0$aFinance$xReligious aspects$xIslam. 615 0$aEconomic development 676 $a332.0917/67 701 $aIqbal$b Zamir$0698698 701 $aMirakhor$b Abbas$0862217 801 0$bDLC 801 1$bDLC 906 $aBOOK 912 $a9910822025503321 996 $aEconomic development and Islamic finance$94065335 997 $aUNINA