Islamic Finance and the New Financial System

This book examines the different regimes of financial systems and their impact on the world economy in general and individual countries in particular. It also discusses the prevention of future financial crises from an ethical point of view. The author believes that Islamic finance is a complete, broad and inclusive way for the stability of the financial system in contrast to the other approaches which governed the financial markets in recent decades all over the world. As such, this is an important volume which summarises global financial crises and their impact on the economy. The world has witnessed different financial crises and their impact on the developed as well as developing countries, especially over the last three decades, raises different questions about the neoclassical and neoliberal models. Global finance learned many lessons from the global financial crises of 2008. At the same time, the rapid growth and progress of Islamic finance has caught the attention of the gurus of the financial market. Islamic finance is distinctly different from conventional Western models. Keeping this in view, this book under review makes a remarkable contribution to the debate on ethical and conventional financial system. This volume will be of a great use to academics, practitioners and policy makers in the developed and developing worlds.