Central Counterparties from the Islamic Finance Perspective
نویسندگان
چکیده
منابع مشابه
Islamic Finance
The notion of " Islamic finance " was born during the tumultuous identity-politics years of the mid-twentieth century. Indian, Pakistani, and Arab thinkers contemplated independence from Britain, and independence of Pakistan from India, within a context of " Islamic society. " Islam was assumed to inspire political, economic, and financial systems that are distinctive and independent of the Wes...
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In the wake of the September 11, 2001, terrorist attacks on the United States, the UN Security Council passed a resolution targeting transnational sources of terrorist funds. At least one offshore Islamic bank was shut down, and American officials, ignorant about Islamic finance, viewed any “Islamic” bank with heightened suspicion. The Bush Administration targeted Al-Baraka in particular, confu...
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متن کاملThe Emergence and Future of Central Counterparties
We explain why central counterparties (CCPs) emerged historically. With standardized contracts, it is optimal to insure counterparty risk by clearing those contracts through a CCP that uses novation and mutualization. As netting is not essential for these services, it does not explain why CCPs exist. In over-the-counter markets, as contracts are customized and not fungible, a CCP cannot fully g...
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It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the implausibility of interest payment in connection with Bitcoin, (ii) viewing a Bitcoin-like system as a mone...
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ژورنال
عنوان ژورنال: Kwartalnik Kolegium Ekonomiczno-Społecznego. Studia i Prace
سال: 2015
ISSN: 2082-0976
DOI: 10.33119/kkessip.2015.3.3.2