التكامل الاقتصادي
Volume 11, Numéro 6, Pages 532-550
2024-01-06

Theoretical Approach To Islamic Finance: Case Study Of Malaysia



Authors : Bensahla Tani Tewfik . Bencheriet Zahra .

Abstract

Islamic finance has existed for several centuries but has gained momentum in recent times due to the strong demand for Islamic products from both Muslims and non-Muslims. Often perceived as a financial system that excludes interest payments, Islamic finance is based on strict religious principles that banking institutions strive to uphold. Over the past few years, it has experienced remarkable growth worldwide. While the perception of Islamic finance as interest-free is accurate, it is incomplete, as the system is founded on other important principles that promote entrepreneurship, risk-taking, transparency, and ethical values such as justice and fairness in negotiations. It also emphasizes mutual cooperation and respect among contracting parties. We addressed in our practical study the adoption of Islamic banking by Malaysia, which has emerged as a pioneer in this field and serves as a model for other countries, including Algeria, in embracing Islamic banking practices. And as a case study, we have chosen Malaysia where Islamic finance is highly developed, with references and some comparisons to Algeria

Keywords

Islamic finance ; financial system ; religious principles - the study of malaysia

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