Mohieldin, Mahmoud2012-08-132012-08-132012-03https://hdl.handle.net/10986/10051Islamic finance has been growing rapidly in recent years. Motivated by a heightened interest in financial instruments that emphasize risk sharing, it has been attracting greater attention in the wake of the recent financial crisis. This class of instruments appears to have avoided many of the most severe consequences of the crisis. Several features underpin the expansion and performance of Islamic finance. Addressing key regulatory and governance issues will be essential for Islamic finance to achieve its full potential. Several multilateral development institutions, including the World Bank, have longstanding programs to support the development of the industry and have used Islamic instruments, to varying extents, to tap capital markets. In the coming years, Islamic finance could account for a substantial share of financial services in several countries, meeting the preferences of significant numbers of people, enhancing financial inclusion and intermediation, and contributing more broadly to financial stability and development.CC BY 3.0 IGOACCOUNT HOLDERSACCOUNTINGADJUSTMENT MECHANISMANNUAL INCOMEASSET CLASSESASSET PRICESASSET QUALITYASSET RISKASSET TRANSFERSAUDITINGAUTONOMYBANK DEPOSITSBANK POLICYBANKING ASSETSBANKING BUSINESSBANKING SECTORBANKING SERVICESBANKING SYSTEMCAPITAL GAINSCAPITAL MARKETSCAPITAL REQUIREMENTSCAPITALSCOMMODITYCONTRACTUAL OBLIGATIONSCONVENTIONAL BANKINGCONVENTIONAL BANKSCONVENTIONAL FINANCECONVENTIONAL INSTRUMENTSCORPORATE BONDSCOST OF CAPITALCREDIT RISKCREDITORSCROSS-BORDER TRANSACTIONSDEBTDEBT INSTRUMENTSDEBT OBLIGATIONSDEBT SECURITIESDEFAULTSDEFERRED PAYMENTDEFERRED PAYMENT BASISDEMAND DEPOSITSDEPOSITDEPOSIT BALANCESDEPOSITORSDEVELOPMENT BANKDIVERSIFICATIONDOUBLE TAXATIONECONOMIC ACTIVITIESECONOMIC CONDITIONSECONOMIC JUSTICEECONOMIC POLICYENTREPRENEURSENTRY BARRIERSEXCESSIVE UNCERTAINTYEXPOSUREFINANCE CORPORATIONFINANCE PRODUCTSFINANCIAL ASSETSFINANCIAL CONTRACTSFINANCIAL CRISISFINANCIAL INSTRUMENTSFINANCIAL INTERMEDIARIESFINANCIAL INTERMEDIATIONFINANCIAL LITERACYFINANCIAL SECTORFINANCIAL STABILITYFINANCIAL SYSTEMFINANCIAL TRANSACTIONSFINANCING ARRANGEMENTSFINANCING OF TRADEFINANCING REQUIREMENTSFUTURE GROWTHGAMBLINGGLOBAL MARKETGLOBAL MARKETSGOOD GOVERNANCEGOVERNANCE ISSUESGOVERNANCE STANDARDSGROWTH RATEGUARANTEE AGENCYHUMAN CAPITALINCOME TAXINFORMATION SERVICESINFRASTRUCTURE INVESTMENTSINFRASTRUCTURE PROJECTSINSTRUMENTINSURANCEINSURANCE CONTRACTSINTERNATIONAL BANKINTERNATIONAL FINANCEINTERNATIONAL SETTLEMENTSINVESTMENT ACCOUNTINVESTMENT ACCOUNTSINVESTMENT INCOMEISLAMISLAMIC ACCOUNTINGISLAMIC ASSETSISLAMIC BANKISLAMIC BANKINGISLAMIC BANKSISLAMIC BONDISLAMIC BONDSISLAMIC CAPITALISLAMIC CAPITAL MARKETSISLAMIC DEVELOPMENTISLAMIC DEVELOPMENT BANKISLAMIC ECONOMICSISLAMIC FINANCEISLAMIC FINANCE INSTRUMENTSISLAMIC FINANCIAL INSTITUTIONISLAMIC FINANCIAL INSTITUTIONSISLAMIC FINANCIAL INSTRUMENTSISLAMIC FINANCIAL MARKETSISLAMIC FINANCIAL PRODUCTSISLAMIC FINANCIAL SERVICESISLAMIC FUNDSISLAMIC INSTRUMENTSISLAMIC MORTGAGEISSUANCEISSUANCESKEY CHALLENGESLEVEL PLAYING FIELDLIQUIDITYLIQUIDITY RISKLOAN CONTRACTSLOCAL CURRENCYLONG-TERM FUNDINGLONG-TERM LOANLOSS SHARINGMANAGEMENT PRACTICESMANDATESMARKET LEADERMARKET PARTICIPANTSMARKET PLAYERSMARKET RISKMARKET SHAREMARKETS DATABASEMONETARY FUNDMORTGAGE INDUSTRYMORTGAGESMUDARABAHMULTILATERAL DEVELOPMENTMULTINATIONALMURABAHAMURABAHAHMUSHARAKAHMUSLIMMUTUAL FUNDSOPERATIONAL RISKOUTREACHPORTFOLIOPORTFOLIO OF LEASESPORTFOLIOSPRIVATE EQUITYPROFIT MARGINPROJECT FINANCEPROPERTY RIGHTSPURE DEBTQURANRAPID EXPANSIONRAPID GROWTHRATE OF RETURNREAL ESTATEREAL SECTORREGULATORY FRAMEWORKREGULATORY OVERSIGHTRIBARISK MANAGEMENTRISK MITIGATIONRISK SHARINGRISK TAKINGRISK WEIGHTINGSALE OF GOODSSAVINGSSECONDARY TRADINGSHARIAHSHARIAH-COMPLIANT FINANCESOVEREIGN ENTITIESSTAMP DUTYSTOCK MARKETSSUKUKTAKAFULTANGIBLE ASSETSTAXTAX TREATMENTTECHNICAL ASSISTANCETIER 1 CAPITALTOTAL ASSETSTRANSACTIONTRANSACTION COSTSTRANSFER OF OWNERSHIPUNDERLYING ASSETUNDERLYING ASSETSUSURYVENTURE CAPITALWEALTHWorld Bank10.1596/10051