Credit in the Structure of the Market Quotation of Financial Assets in Relation to the Islamic Financial Law

11 Pages Posted: 18 Sep 2011

See all articles by Magomet Yandiev

Magomet Yandiev

Moscow State University - Faculty of Economics

Renat Bekkin

Moscow State University - Institute of International Relations, Mardjani Foundation

Date Written: September 17, 2011

Abstract

The authors analyze the structure of the market quotation of financial assets and come to the conclusion that one of its components is a financial asset identical with a commercial credit. Hence, in terms of the Islamic financial system any financial asset is inappropriate for investment because its quotation contains elements of danism. The authors demonstrate a new approach to the structure of the Islamic infrastructure of exchange trading by financial assets, which would allow excluding elements unacceptable from the point of view of Sharia

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

JEL Classification: G12, G14, F29, F30, E44

Suggested Citation

Yandiev, Magomet and Bekkin, Renat, Credit in the Structure of the Market Quotation of Financial Assets in Relation to the Islamic Financial Law (September 17, 2011). Available at SSRN: https://ssrn.com/abstract=1929384 or http://dx.doi.org/10.2139/ssrn.1929384

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/

Renat Bekkin

Moscow State University - Institute of International Relations, Mardjani Foundation ( email )

Moscow
Russia

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
103
Abstract Views
1,024
rank
306,208
PlumX Metrics