UNT Digital Library

Islamic Finance: Overview and Policy Concerns

Description:

The international market for Islamic finance has grown between 10% to 15% annually in recent years. Islamic finance historically has been concentrated in the Persian Gulf countries, but has expanded globally to both Muslim and non-Muslim countries. There is a small but growing market for Islamic finance in the United States. Through international and domestic regulatory bodies, there has been effort to
standardize regulations in Islamic finance across different countries and financial institutions, although challenges remain. Critics of Islamic finance express concerns about possible ties between Islamic finance and political agendas or terrorist financing and the use of Islamic finance to circumvent U.S. economic sanctions. Proponents argue that Islamic finance presents significant new business opportunities and provides alternate methods for capital formation and economic development.
Creator: Ilias, Shayerah
Creation Date: 2008-07-29
Partner(s):
UNT Libraries Government Documents Department
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Collection(s):
Congressional Research Service Reports
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Creator (Author):
Ilias, Shayerah
Islamic Finance: Overview and Policy Concerns
Creator (Author):
Foreign Affairs, Defense, and Trade Division
Publisher Info:
Place of Publication: Washington, D.C.
Original Creation Date: 2008-07-29
Coverage:
Era
2008 - 2008
Date
2008-07-29
Description:

The international market for Islamic finance has grown between 10% to 15% annually in recent years. Islamic finance historically has been concentrated in the Persian Gulf countries, but has expanded globally to both Muslim and non-Muslim countries. There is a small but growing market for Islamic finance in the United States. Through international and domestic regulatory bodies, there has been effort to
standardize regulations in Islamic finance across different countries and financial institutions, although challenges remain. Critics of Islamic finance express concerns about possible ties between Islamic finance and political agendas or terrorist financing and the use of Islamic finance to circumvent U.S. economic sanctions. Proponents argue that Islamic finance presents significant new business opportunities and provides alternate methods for capital formation and economic development.
Language: English
Subject(s):
Partner:
UNT Libraries Government Documents Department
About | Browse Partner's Holdings
Collection:
Congressional Research Service Reports
About | Browse this Collection
Identifier:
  • CRS: RS22931
  • LOCAL-CONT-NO: RS22931_2008Jul29
  • ARK: ark:/67531/metacrs10779
Resource Type: Text
Format: Text

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