search query: @author Aggarwal, R. / total: 40
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| Author: | Aggarwal, R. Yousef, T. |
| Title: | Islamic banks and investment financing |
| Journal: | Journal of Money, Credit and Banking
2000 : FEB, VOL. 32:1, p. 93-120 |
| Index terms: | ISLAM BANKS INVESTMENT |
| Language: | eng |
| Abstract: | Islamic law prohibits charging interest. The authors study financial instruments used by Islamic banks and find that most are not based on profit-and-loss sharing (equity) but, instead, are very debtlike in nature. The authors see some bias against providing financing for agriculture and industry. Long-term financing is rarely offered to entrepreneurs. The authors' model shows that debtlike instruments are a rational response by Islamic banks to their contracting environments. |
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