Munich Personal RePEc Archive

Islamic Stock Markets in a Global Context

Sheng, Andrew and Singh, Ajit (2013): Islamic Stock Markets in a Global Context. Published in: Economic Development and Islamic Finance: Directions in Development No. Chapter 10 (19. May 2013): 275 -296.

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Abstract

This study is a sequel to the 2012 Sheng and Singh article that identified and explained the significance of the two central tenets of Islamic finance: namely, its underpinning by a strong ethical system, and the absolute prohibition of the use of interest rates. That study also argued that the cooperation between the conventional Western system and the Islamic system is eminently sensible and will lead to a Pareto optimal increase in world welfare

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