Islamic finance tools as an alternative way to attract investment

Archakova-Uzhakhova M.B.1
1 Финансовый университет при Правительстве Российской Федерации

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Journal paper

*
Volume 4, Number 2 (April-June 2017)
* Этот журнал не выпускается в Первом экономическом издательстве

Citation:

Archakova-Uzhakhova, M. B. (2017). Islamic finance tools as an alternative way to attract investment. , 4(2), 133-146. https://doi.org/10.18334/grfi.4.2.38625

Abstract:
In recent years, Islamic finances have occupied a significant niche in the global economy. The number of Islamic banks that fully meet the requirements of the Islamic economic model has significantly increased. At the same time, due to the globalization in the world economy, the Shariah-compliant finance tools are provided not only by Islamic banks, but also by traditional European banks. The author of the article has studied the features of Islamic finance transactions, has made a comparative analysis of the financial contracts based, on the one hand, on the Shariah standards and requirements and offered by traditional economy on the other hand. We also assess the effect and consequences of the introduction and application of Islamic finance tools in Russia.

Keywords: international financial reporting standards, islamic finance, riba, sukuk, mudaraba, musharaka, murabaha, salam, istisna, ijara

JEL-classification: G11, G23, G15

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References:

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Iasplus. Retrieved July 11, 2017, from https://www.iasplus.com/en/resources/topics/islamic-accounting
Islamic finance investments in LuxembourgDeloitte. Retrieved July 02, 2017, from https://www2.deloitte.com/lu/en/pages/islamic-finance/articles/islamic-finance-invest-luxembourg
Islamic finance. Creating valuePwc. Retrieved July 15, 2017, from http://www.pwc.com
Kuliev E.R. (2004). Perevod Korana [Translations of the Quran] M.: UMMA. (in Russian).
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Porokhova V. (2005). Perevod Korana [Translations of the Quran] M.: Ripol Klassik. (in Russian).

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