02001cas a2200265 a 4500 AALejournalIMF015274 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513590745 1018-5941 BD-DhAAL BD-DhAAL Hussain, Mumtaz. An Overview of Islamic Finance / Mumtaz Hussain, Asghar Shahmoradi, Rima Turk. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations. Mode of access: Internet Shahmoradi, Asghar. Turk, Rima. IMF Working Papers; Working Paper ; No. 2015/120 Full text available on IMF http://elibrary.imf.org/view/journals/001/2015/120/001.2015.issue-120-en.xml IMF e-Library