Continuation
SUMMARY
Islamic
financial instruments share the merits of conventional financial system.
Also,
they have certain distinct features that differentiate them from their
counterparts.
In
the paper the section 3 provides an insight into some of these features,
highlighting the issue of risk.
It
compares the risks associated with Islamic finance with those faced in the
conventional financial system.
It
also:
§ provides
a comparison between ethical and Islamic investments;
§ and
notes the proximity of Islamic finance to socially responsible investment.
The
final part of this section considers the extent to which Islamic instruments and
principles can be incorporated into conventional finance.
From the research
paper of European Central Bank
(Authors:
F.Mauro, P.Caristi, S.Couderc, A.D.Maria,
L.Ho, B.K.Grewal, S.Masciantonio, S. Ongena and S.Zaher)
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