MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE
The article sketches the history of the Malaysian financial system which is a unique two-component system combining conventional and Islamic financial institutions in the banking, insurance and stock market areas. Malaysia was the first state to adopt in 1983 the law “On Islamic Finance”, which allo...
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| Format: | Article |
| Language: | Russian |
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Government of the Russian Federation, Financial University
2017-10-01
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| Series: | Финансы: теория и практика |
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| Online Access: | https://financetp.fa.ru/jour/article/view/275 |
| _version_ | 1797878798652276736 |
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| author | I. A. Zaripov |
| author_facet | I. A. Zaripov |
| author_sort | I. A. Zaripov |
| collection | DOAJ |
| description | The article sketches the history of the Malaysian financial system which is a unique two-component system combining conventional and Islamic financial institutions in the banking, insurance and stock market areas. Malaysia was the first state to adopt in 1983 the law “On Islamic Finance”, which allowed in a short time to create a complete financial system based on fair competition and interconnection of two financial models: the traditional loan model and the Islamic model. The author shows an important role of government bodies (in particular, of the Central Bank and the Securities Commission of Malaysia) in the establishment, management and development of the Islamic financial sector and monitoring the integrity of the entire financial system. The author briefly describes characteristics of Islamic finance and Islamic finance products. Currently, Malaysia is an acknowledged leader in Islamic finance, it occupies the first places in terms of number of operations on the Islamic capital markets, in the banking and insurance areas and it continues to set ambitious goals and achieve them; it shows to other states how function the two-component financial system. |
| first_indexed | 2024-04-10T02:38:57Z |
| format | Article |
| id | doaj.art-59040d54d390419192f42ce1fde78aa0 |
| institution | Directory Open Access Journal |
| issn | 2587-5671 2587-7089 |
| language | Russian |
| last_indexed | 2024-04-10T02:38:57Z |
| publishDate | 2017-10-01 |
| publisher | Government of the Russian Federation, Financial University |
| record_format | Article |
| series | Финансы: теория и практика |
| spelling | doaj.art-59040d54d390419192f42ce1fde78aa02023-03-13T07:49:25ZrusGovernment of the Russian Federation, Financial UniversityФинансы: теория и практика2587-56712587-70892017-10-0120411812910.26794/2587-5671-2016-20-4-118-129312MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCEI. A. Zaripov0Российская ассоциация экспертов по исламскому финансированиюThe article sketches the history of the Malaysian financial system which is a unique two-component system combining conventional and Islamic financial institutions in the banking, insurance and stock market areas. Malaysia was the first state to adopt in 1983 the law “On Islamic Finance”, which allowed in a short time to create a complete financial system based on fair competition and interconnection of two financial models: the traditional loan model and the Islamic model. The author shows an important role of government bodies (in particular, of the Central Bank and the Securities Commission of Malaysia) in the establishment, management and development of the Islamic financial sector and monitoring the integrity of the entire financial system. The author briefly describes characteristics of Islamic finance and Islamic finance products. Currently, Malaysia is an acknowledged leader in Islamic finance, it occupies the first places in terms of number of operations on the Islamic capital markets, in the banking and insurance areas and it continues to set ambitious goals and achieve them; it shows to other states how function the two-component financial system.https://financetp.fa.ru/jour/article/view/275малайзиядвухкомпонентная финансовая системаисламские финансовые принципыфлагман исламских финансов |
| spellingShingle | I. A. Zaripov MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE Финансы: теория и практика малайзия двухкомпонентная финансовая система исламские финансовые принципы флагман исламских финансов |
| title | MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE |
| title_full | MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE |
| title_fullStr | MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE |
| title_full_unstemmed | MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE |
| title_short | MALAYSIA IS THE FLAGSHIP OF ISLAMIC FINANCE |
| title_sort | malaysia is the flagship of islamic finance |
| topic | малайзия двухкомпонентная финансовая система исламские финансовые принципы флагман исламских финансов |
| url | https://financetp.fa.ru/jour/article/view/275 |
| work_keys_str_mv | AT iazaripov malaysiaistheflagshipofislamicfinance |