Islamic Finance: Prospects and Significance

18 Southwestern Journal of International Law 113-123 (2012)

12 Pages Posted: 31 Jan 2015

Date Written: January 29, 2015

Abstract

This paper provides a brief overview of the development, nature, and prospects for Islamic finance. Islamic finance refers to banking, finance, investment, and insurance services that are structured so as to comply with Islamic law. Initially Islamic finance was limited to retail and commercial banking services. The industry has grown to include a range of investment vehicles as well as religiously approved insurance. Islamic banks now exist in more than sixty countries, and the industry is estimated to be worth over one-trillion dollars.

Suggested Citation

Cammack, Mark, Islamic Finance: Prospects and Significance (January 29, 2015). 18 Southwestern Journal of International Law 113-123 (2012), Available at SSRN: https://ssrn.com/abstract=2557571

Mark Cammack (Contact Author)

Southwestern Law School ( email )

3050 Wilshire Blvd.
Los Angeles, CA 90010
United States

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