Nikonova, Tatiana V.; Yusupova, Liliya M.; Nugaev, Fatich Sh.
May 2016
Journal of Economics & Economic Education Research;2016 Special Issue, Vol. 17, p144
Academic Journal
As result of non-satisfaction by outputs of capitalist and socialist economic systems evolution, at the end of XX century the interest to alternative Islamic economic model gradually grows. In practice, Islamic economic model confirms its vitality in market conditions of economic too. In recent years Islamic financial system showed an active development in non- Moslem countries. At this should be taken into account that Islamic financial model requires retaliatory actions from market institutions. Arguments for high potential of Islamic financial institutes and instruments in countries of Europe are brought forward in article. But at present moment only Great Britain among European countries had made significant efforts on implementation of Islamic banking products, in spite of the face that Islamic banking and financial services were offered to Europe nearly thee decades ago. In many aspects this branch is still in infancy. In article, reasons that, in opinion of authors, represent barriers for promotion of Islamic financial institutes and Islamic financial products in European economic and explain insignificance of observed share of Islamic financial instruments at contemporary European market are characterized.


Related Articles

  • PUSHING LIMITS IN EUROPE. Burns, Mairin // Investment Dealers' Digest;1/7/2002, Vol. 68 Issue 1, p44 

    Focuses on the perspective of financial institutions about the condition of financing in Europe. Effect of the abolition of capital gains tax in Germany on the economy of Europe; Inactiveness of the insurance sector despite the steady investment; Benefit of the Germans and Europeans on the...

  • Kuwait regulator calls for transparent Islamic finance monitoring.  // MiddleEast Insurance Review;Mar2013, p17 

    The article focuses on the call of the Capital Market Authority (CMA) to have transparent Islamic finance monitoring for financial institutions in Kuwait.

  • THE EFFECT OF SOCIAL CAPITAL ON LOAN REPAYMENT BEHAVIOR OF THE POOR: A Study on Group Lending Model (GLM) Application in Islamic Microfinance Institution. Sanrego, Yulizar D.; Antonio, M. Syafi'i // Journal of Indonesian Economy & Business;May2013, Vol. 28 Issue 2, p188 

    Market failures in the financial system may be indicated by the absence of opportunities for the poor to get financial services. This also happens in the practice of Islamic banking. For this reason it is popping up a lot of non-market institutions - Islamic Microfinance Institutions (IMFi) is...

  • CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE BY ISLAMIC FINANCIAL INSTITUTIONS: AN AUSTRALIAN CASE STUDY. Babacan, Alperhan // International Journal of Business Research;2012, Vol. 12 Issue 5, p119 

    Islamic Financial Institutions (IFIs) aim to apply Islamic traditions and principles to banking and financial transactions. Unlike conventional banks and financial institutions, operating under an Islamic framework necessitates that IFIs, in their capacity as Islamic institutions, also aim to...

  • BALANCED SCORE CARD APPROACH FOR BETTER SHARI'AH CORPORATE GOVERNANCE. Nu Htay, Sheila Nu; Salman, Syed Ahmed // American Journal of Applied Sciences;2013, Vol. 10 Issue 12, p1553 

    Islamic financial institutions have emerged due to the non-Shari'ah compliant nature of conventional financial from interest, uncertainty, gambling and prohibited activities from the Islamic perspective. In order to achieve the mission of Shari'ah compliance, organizations such as Accounting and...

  • It's euro Libor v. Euribor in dueling benchmarks. O'Leary, Christopher // Investment Dealers' Digest;03/08/99, Vol. 65 Issue 10, p6 

    Reports on developments related to capital market in Europe as of March 8, 1999. Euro-denominated bond issuers' use of the Euribor money rate as market benchmark; Implications for the London Interbank Offered Rate (LIBOR); Comparison between Euribor and euro LIBOR.

  • COMPARISON OF MODELS SOCIALLY-ORIENTED ECONOMIES. Chornodid, Ihor // Technology Audit & Production Reserves;2014, Vol. 2 Issue 2(16), p34 

    In the paper the models of socially-oriented economies are characterized. It is revealed the concept of social market economy and social functions of the state. The composition of social policy is determined. It is characterized such models of socially-oriented economies as continental,...

  • REGULATORY CHANGES FUEL GROWTH OF SUKUK MARKET.  // MEED: Middle East Economic Digest;12/24/2014 Yearbook2015, p19 

    The article reports on the importance of a resilient development of Islamic financing on the growth of the capital market in the Middle East and North Africa.

  • EL IMPACTO DE LOS FACTORES INSTITUCIONALES EN LA ACTIVIDAD EMPRENDEDORA: UN ANÁLISIS DEL COOPERATIVISMO EUROPEO. Buendía Martinez, Inmaculada; Carrasco Monteagudo, Inmaculada // Revista de Economía Mundial;2014, Issue 38, p175 

    The economic literature has given little attention to cooperatives. The research on them has focused on differential microeconomic behavior being macroeconomic viewpoint less frequent. Since this macroeconomic perspective, the Institutional Economics gives an interesting framework for studying...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics