Even though Sukuk market is attracting attention, the contraction of the Islamic banking industry is alarming. Islamic financial services board (IFSB, 2021) in its Islamic financial services stability report has presented the declining trend of the Islamic banking industry. Islamic finance has seen some uneven growth in the recent past. Is poor growth of Islamic companies partly responsible for the inferior growth and consistency of Islamic finance? Does Islamic finance have a monetary policy to support cross-border transaction, multinational company operation, taxation policy, and foreign exchange operation? How big is the foreign currency exposure of Islamic firms? This special issue is designed to address these questions. Islamic banking, being the largest segment (70%), of Islamic finance, has seen considerable decline in its growth since 2016. Aside to their screening requirement and presence in top ten systemically important Islamic finance countries, we do not much about their size, corporate finance policies, their financial requirement, and cross-border performance stories. Who drives the Islamic finance industry? The literature does not say much about Islamic non-financial firms. Who are the primary customers of Islamic financing? For the case of conventional finance, the growth and diversity of the large conventional, transnational corporations drive the conventional finance industry. Canterbury, CT1 1QU, Kent, United Kingdom
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