Globalisation of Islamic Financial Services and World City Networks

Searching for the Mecca of finance: Islamic financial services and the world city network

This paper presents an analysis of the geography of the booming ‘Islamic financial services’ (IFS) sector, which provides a host of financial services based on Islamic religious grounds. The relevance of such an analysis is discussed against the conceptual backdrop of the world city network literature. It is argued that a focus on the globalization of the IFS sector may provide an alternative t...

“islamic Financial Services Industry: the European Challenges”

What is Islamic Finance? There are at least three characteristics which makes it different from the conventional debt finance. First, it prohibits riba or interest, or in other words a fixed and pre-determined rate of return to be paid on the deposits or to be received from the borrowers. The rate of return is variable and determined by the profit and loss that the bank makes during a given per...

Integrating Islamic Finance to Global Financial System: the Role of the Islamic Financial Services Board (IFSB)

A prudential framework is an important element in facilitating the successful integration of Islamic financial services to the global financial system. In recognition of this need, various stakeholders decided to establish the Islamic Financial Services Board (IFSB) to spearhead the development of a uniform set of prudential, supervisory and disclosure standards for the Islamic financial s...

Financial Globalisation and Child Wellbeing

This paper addresses the relationship between financial crises associated with foreign capital flows on the one hand and the wellbeing of children in emerging market countries on the other. The literature on child welfare in crises suggests that the level of employment and labour incomes are the key linkage, because these constitute the major component of the incomes of poor families and affect...

The Changing Configurations of World City Networks