This paper analyzes detailed differences in patterns of financial development across the major Asian economies, including three of the region's largest economies (China, Japan and South Korea), to understand how these differences might affect possibilities for greater regional financial...

The paper is about strength of Islamic financial system. It is based on real study of some failed Islamic financial institutions. The study of causes of the failure reveals the real problem behind the failure. It suggests the areas to overcome to save failures

The main characteristics of an Islamic financial system are described relying on recent writings on the subject and on the actual practice of Islamic banking. A theoretical model of an Islamic economic system is developed by generalizing the standard IS-LM model in order to study the effects of...

Nowadays Islamic finance is experiencing rapid growth. In this paper author summarizes the research that has been conducted in the study of Islamic finance up to now. 170 scientific studies by authors and academics from different countries, various universities and international organizations...

In an Islamic economy, the financial sector functions to support the real sector. There are no interest rate based debt instruments. Financial assets are based on risk and return sharing and are contingent claims. Real as well as monetary forces determine the rate of return. As in traditional...

Khan and Mirakhor have imposed on their model a structure and constraints which lend a tautological character to their exercise (13). The indiscreet replacement of the rate of interest in the secular model by a profit rate makes their conclusions tentative and questionable. Formulation...