The phenomenal growth of Islamic finance in the last few decades has been accompanied by a host of interesting questions and challenges. One of the critical challenges is how Islamic financial institutions can be motivated to participate in the 'equity-like' profit-and-loss sharing (PLS) contracts. It is observed that Islamic banks are reluctant to participate in the pure PLS scheme which is manifested by the rising concentration of investment on murabaha or mark-up financing. This phenomenon has been the hotbed of academic criticism on the contemporary practice of Islamic banking. This book explains the 'murabaha syndrome' in light of the incentive provided by the current institutional framework and what are the changes required in the governance structure to mend this anomaly.

About the Author
Yasushi Suzuki is Professor at the Ritsumeikan Asia Pacific University, Japan. Mohammad Dulal Miah is Assistant Professor at the University of Nizwa, Oman.

Reviews

"The book addresses many recent and major issues in Islamic economics and finance; the concentration of services in Murabaha and its syndrome throughout the world, the critique on the comparison of Riba vs. interest, and Gharar vs. uncertainty, lack of emphasis on Islamic microfinance, the arguments on Sukuk, the emergence of Islamic venture capital and many others..." Turkish Journal of Islamic Economics, Volume 6, Issue 2, 2019

Book Information
ISBN 9780367504267
Author Yasushi Suzuki
Format Paperback
Page Count 234
Imprint Routledge
Publisher Taylor & Francis Ltd
Weight(grams) 430g