Islamic finance has been growing rapidly in recent years. Motivated by a heightened interest in financial instruments that emphasize risk sharing, it has been attracting greater attention in the wake of the recent financial crisis. This class of instruments appears to have avoided many of the most severe consequences of the crisis. Several features underpin the expansion and performance of Islamic finance. Addressing key regulatory and governance issues will be essential for Islamic finance to achieve its full potential. Several multilateral development institutions, including the World Bank, have longstanding programs to support the development of the industry and have used Islamic instruments, to varying extents, to tap capital markets. In the coming years, Islamic finance could account for a substantial share of financial services in several countries, meeting the preferences of significant numbers of people, enhancing financial inclusion and intermediation, and contributing more broadly to financial stability and development.
Detalhes
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Autor
Mohieldin, Mahmoud
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Data do documento
2012/03/01
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TIpo de documento
Informativo
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No. do relatório
67644
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2012/03/27
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Disclosure Status
Disclosed
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Nome do documento
Realizing the potential of Islamic finance
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Palavras-chave
Poverty Reduction & Economic Management;multilateral investment guarantee agency;risk sharing;financial instrument;financial crisis;sale of good;real sector;share of profit;cost of capital;tier 1 capital;risk management need;concerns about liquidity;sum of money;share in ownership;equitable risk allocation;sovereign wealth fund;Certificate of Ownership;real estate price;portfolio of lease;return on saving;exchange of good;financing of trade;multilateral development institution;trade in goods;sanctity of contract;property right;banking asset;financial inclusion;conventional instrument;global market;
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