المستخلص: |
This study explores and discusses the results and summaries of about fifty studies conducted by the International Monetary Fund (IMF) and the World Bank (WB) relating to various aspects; theoretical and practical, of Islamic finance(IF) over a period of thirty-four years; 1982-2016. The discussion has covered eight important topics. These are: IF and financial stability, the impact and role of morals on financial decisions and behavior, IF and money laundering and the financing of terrorism, cooperative banks and Islamic banks, IF and financial inclusion, the role of IF in development and economic growth, derivatives, risk management and Sukuk, and finally governance and Shari’sh compliance. The paper concludes with many prominent issues and recommendations. Among these are: most of the studies have been carried out in the aftermath of the American financial crisis of 2007-2008 and, practical and financial topics were dominant in the sample of the explored studies. Moreover, the results also show that the sample of the researches covered in the study look at Islamic finance as a complement component of the ‘Globalized’ financial system rather than as an alternative as some traits in the Islamic finance literature would look at it.
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