Problematics of Islamic finance: has replication become excessive? (revised)

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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

Abdul Karim Abdullah @ Leslie Terebessy is an Assistant Research Fellow at IAIS Malaysia.