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The Notions of Islamic Economics and Finance in the Global Era

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Islamic Finance Alternatives for Emerging Economies: Empirical Evidence from Turkey

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Abstract

The most popular debate in Islamic finance centers on the legalization of interest and its derivatives, which are seen in conventional institutions as a means of profit. Since the principles are religious in nature, the arguments mostly focus around legal rather than purely economic issues.

In this chapter, the research will analyze the current situation of Islamic economics and finance practices in light of global economic developments. The scope of the research is to evaluate the contribution of Islamic finance applications in emerging Islamic countries such Turkey and Malaysia by focusingon economic growth which will be discussed in future chapters. This chapter is aimed at filtering the definition of Islamic economics and finance from global perspectives.

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Authors
  1. Rubaa Saleh
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  2. Murat Ustaoğlu
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Editor information

Editors and Affiliations

  1. Istanbul University, Turkey

    Murat Ustaoğlu (Assistant Professor of Economics) & Ahmet İncekara (Professor of Economics) (Assistant Professor of Economics) &  (Professor of Economics)

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© 2014 Murat Ustaoğlu & Ahmet İncekara

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Saleh, R., Ustaoğlu, M. (2014). The Notions of Islamic Economics and Finance in the Global Era. In: Ustaoğlu, M., İncekara, A. (eds) Islamic Finance Alternatives for Emerging Economies: Empirical Evidence from Turkey. Palgrave Pivot, New York. https://doi.org/10.1057/9781137413307_3

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