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The Role Of Islamic Capital Market In Developing Muslim Economy

Abd Jalil, Borham and Muhammad Azizur Rahman, Ramli and Mohd Firdaus, Shahidin (2014) The Role Of Islamic Capital Market In Developing Muslim Economy. In: 6th Islamic Banking Accounting and Finance Conference (iBAF2014), 23-24 September 2014 , Universiti Sains Islam Malaysia. . (Unpublished)

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Abstract

The role Islamic capital market is to raise funds, trading and mobilizing funds from one sector to another sector of the economy to ensure the humankind life. Unlike the conventional capital market it objectives is maximization of profit. Islamic capital market has two objectives; firstly is to eliminate usury and secondly to develop Islamic economics and the global economy. These two objectives should be the role of Islamic Capital Market in developing muslim economy. The Islamic capital market comprises two main components: the debt market and the equity market. Sukuk, known as Islamic bonds, have been the most active Islamic debt Market. Nevertheless it is active but the objective of the Islamic social development must be complying. It’s not just to boost the rich corporate economy but its role has to be helping muslim community to develop their economy power. This paper discusses the relationship between Islamic Capital Market and Maqasid. Also discuss its roles in developing real estate industry and halal industry. Many scholars agree that innovation in Islamic capital market must be actively discuss as the Islamic capital market broadly use in term of development of Muslim economy.

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > HB Economic Theory
Faculty/Division: Centre For Modern Languages and Human Sciences
Depositing User: Prof. Dr. Abd Jalil Borham
Date Deposited: 17 Dec 2014 03:16
Last Modified: 03 Mar 2015 09:36
URI: http://umpir.ump.edu.my/id/eprint/7444
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