Rationalizing Hybrid Financial Instruments from an Uṣūlī Perspective

This article attributes the prime reason for the underdevelopment of the Arab and Muslim world to the lack of advancement of their financial intermediation systems. We instigate the employment of hybrid financial instruments to re-invigorate their financial architecture. Not only does this solution...

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Bibliographic Details
Published in:	Arab law quarterly Vol. 28; no. 3; pp. 295 - 306
Main Authors:	Ebrahim, Muhammed Shahid, Salleh, Murizah Osman, Sheikh, Mustapha
Format:	Journal Article
Language:	English
Published:	The Netherlands Brill 01-01-2014 Brill Academic Publishers
Online Access:	Get full text
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Summary:	This article attributes the prime reason for the underdevelopment of the Arab and Muslim world to the lack of advancement of their financial intermediation systems. We instigate the employment of hybrid financial instruments to re-invigorate their financial architecture. Not only does this solution satisfy the economic efficiency prerequisites, it is also in congruent with uṣūl al-fiqh (principles of Islamic jurisprudence).
ISSN:	0268-0556 1573-0255 0268-0556
DOI:	10.1163/15730255-12341284