search query: @indexterm Social environment / total: 216
reference: 17 / 216
| Author: | Schramm, M. Taube, M. |
| Title: | Evolution and institutional foundation of the hawala financial system |
| Journal: | International Review of Financial Analysis
2003 : VOL. 12:4, p. 405-420 |
| Index terms: | FINANCIAL SERVICES Islam Social environment |
| Language: | eng |
| Abstract: | The evolution and the institutional foundation of the century-old Islamic hawala financing system is examined. It is shown in the analysis of the functional principles of this system that it is a highly efficient, extremely robust institutional arrangement for overcoming the risks of opportunism among the transaction partners. It is an institution that was developed against the backdrop of a lack of formal legal systems. |
SCIMA