Financial innovation intra Muslim capital markets and inter global counterparts: implications of differences

What is it about?

Different schools of Islamic jurisprudence are applied in regional Muslim markets, creating uncertainty regarding the acceptable boundaries of financial innovation and the design of new products. These differences result in products not being freely traded across markets, reducing liquidity and investor choice, and increasing costs. This study examines the implications of these differences for conventional financial institutions looking to open Islamic windows in regional Muslim markets.

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