Problematics of Islamic finance: has replication become excessive? (revised)Written by Abdul Karim Abdullah
When Islamic finance first appeared in its modern form in the 1990s, expectations were high. It was hoped that Islamic finance would provide a more stable – and just – alternative to the conventional system, based on riba and characterised by roller-coaster cycles of boom and bust. Islamic finance would avoid the pitfalls of conventional finance, among them the rise of large and growing levels of debt – public and private.......... Download the full article in pdf attachment (below)
Abdul Karim Abdullah @ Leslie Terebessy is an Assistant Research Fellow at IAIS Malaysia.