Islamic Finance
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Islamic Finance

Principles and Practice, Third Edition

Hans Visser

In this extensively updated third edition, Hans Visser explores the ideas and concepts that drive and shape Islamic finance. This incisive book reviews the products, institutions and markets offered by Islamic finance in the modern marketplace, offering a critical discussion of the ways in which fiscal and monetary policy can be adapted to Islamic financial institutions. Visser offers new directions for economics and finance students, as well as students of Islamic finance and Islam studies more broadly.
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Chapter 8: A tentative verdict and a question mark

Hans Visser

Abstract

Chapter 8 first looks at what Islamic finance does for a country’s economic development. Next, its claim of being fundamentally different from conventional finance and on an altogether higher ethical level is critically assessed. Related to this issue, we focus on areas where Islamic finance has some catching up to do. The chapter winds up with some musings on the directions Islamic finance might take. All the time, it must be kept in mind that judgements can only be of a tentative character, as Islamic banking and finance is a work in progress, even if it is by now an established fixture in the financial landscape.

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