Topical Issues Related to the Formation of the Islamic Finance System: At the Intersection of Philosophy and Practice

7 Pages Posted: 18 Sep 2011

See all articles by Magomet Yandiev

Magomet Yandiev

Moscow State University - Faculty of Economics

Date Written: September 17, 2011

Abstract

An intensively developing segment of the world finance – the so-called Islamic finance – puts a great amount of not so much practical but complex theoretical questions to the financial regulator and professional participants of financial markets. In search of answers financial analytics will have to resort to the philosophical tools of scientific analysis and decision-making. A question to illustrate the problem: “On what level (protein, cell, DNA, molecule, atom, proton, etc.) does pork cease to be meat tabooed for Muslims and become a biological material that may be used?”

Keywords: Islamic finance, Islamic banking, Riba, Gharar, Maisir

JEL Classification: F29, F30, G00, E44

Suggested Citation

Yandiev, Magomet, Topical Issues Related to the Formation of the Islamic Finance System: At the Intersection of Philosophy and Practice (September 17, 2011). Available at SSRN: https://ssrn.com/abstract=1929363 or http://dx.doi.org/10.2139/ssrn.1929363

Magomet Yandiev (Contact Author)

Moscow State University - Faculty of Economics ( email )

1-46 Leninskiye Gory
Moscow, 119991
Russia
+79037699393 (Phone)

HOME PAGE: http://www.econ.msu.ru/departments/fincred/staff/M.I.Yandiev/

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