Islamic Finance: Overview and Policy Concerns Metadata

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Title

  • Main Title Islamic Finance: Overview and Policy Concerns

Creator

  • Author: Ilias, Shayerah
    Creator Type: Personal
    Creator Info: Foreign Affairs, Defense, and Trade Division

Publisher

  • Name: Library of Congress. Congressional Research Service.
    Place of Publication: Washington D.C.

Date

  • Creation: 2008-07-29

Language

  • English

Description

  • Content 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.

Subject

  • Legislative Indexing Vocabulary: Finance
  • Legislative Indexing Vocabulary: Religion
  • Legislative Indexing Vocabulary: Islam

Collection

  • Name: Congressional Research Service Reports
    Code: CRSR

Institution

  • Name: UNT Libraries Government Documents Department
    Code: UNTGD

Resource Type

  • Report

Format

  • Text

Identifier

  • CRS Report Number: RS22931
  • Accession or Local Control No: RS22931_2008Jul29
  • Archival Resource Key: ark:/67531/metacrs10779