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 The Islamic Chamber of Commerce , Industry and Agriculture (ICCIA)

Islamic Finance: Opportunities, Challenges, and Policy Options

Source : IMF

Category : Economy‏

Publish Date : April 1, 2015

ABOUT PUBLICATION

Islamic finance has the potential for further contributions in at least three dimensions. First, it promises to foster greater financial inclusion, especially of large underserved Muslim populations. Second, its emphasis on asset-backed financing and risk-sharing feature means that it could provide support for small and medium–sized enterprises (SME), as well as investment in public infrastructure. Finally, its risk-sharing features and prohibition of speculation suggest that Islamic finance may, in principle, pose less systemic risk than conventional finance. For this potential to be realized, however, and to allow this industry to develop in a safe and sound manner, a number of challenges will need to be addressed

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