Chapter

The Evolution of Modern Islamic Finance

Ibrahim Warde

in Islamic Finance in the Global Economy

Published by Edinburgh University Press

Published in print February 2000 | ISBN: 9780748612161
Published online March 2012 | e-ISBN: 9780748653072 | DOI: http://dx.doi.org/10.3366/edinburgh/9780748612161.003.0005
The Evolution of Modern Islamic Finance

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Modern Islamic finance started in the 1970s, its emergence driven largely by the oil boom. However, it was bound to be transformed by the collapse of oil prices in the 1980s, and by the changes in the global political and economic system. This chapter focuses on the evolution of modern Islamic finance, placing emphasis on three distinct stages: the early years (1975 to 91); the age of globalisation (1991 to 2001); and the post-September 11, 2001 period.

Keywords: modern Islamic finance; oil boom; evolution; age of globalisation; post-September 11

Chapter.  11130 words. 

Subjects: Society and Culture

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