Islamic finance, consumer protection, and financial stability

by Inutu Lukonga

Consumer protection and financial literacy are essential pillars of a well functioning and stable financial system. As the global financial crisis demonstrated, inadequate attention to consumer protection and financial literacy can lead to financial instability. Though Shari'ah principles provide a strong foundation for consumer protection, the principles alone cannot provide adequate protection because not all providers are guided by ethical precepts and the practices have deviated from the principles. To safeguard the stability of the Islamic finance industry, consumer protection frameworks

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Year of publication:	2015
Authors:	Lukonga, Inutu
Publisher:	Washington, DC : IMF
Subject:	Islamisches Finanzsystem \| Islamic finance \| Verbraucherschutz \| Consumer protection \| Bankenregulierung \| Bank regulation

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Extent:	Online-Ressource (39 S.) graph. Darst.
Series:	IMF working papers. - Washington, DC : IMF, ZDB-ID 2108494-4. - Vol. 15/107
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Description based upon print version of record Systemvoraussetzungen: Acrobat Reader Cover Page; Title Page; Copyright Page; Contents; Tables; Figures; Boxes; Appendixes; Annexes; II. Consumer Protection and Financial Stability; A. The Financial Stability Nexus; B. Elements of Consumer Protection; 1. A Framework for Consumer Protection in Islamic Finance; III. The Case for Consumer Protection in Islamic Finance; A. Industry Growth But Limited Consumer Choice; 2. Growth of Islamic Finance Assets; 3. Sukuk Market Size, Growth, and Structure; 4. Concentration in the Islamic Banking Sector; B. Product Characteristics; 1: Sukuk Defaults and Legal Risks C. Conventional Deposit Insurance SchemesIV. Current Practices in Consumer Protection; 1. Status of Legal Frameworks for Consumer Protection; 5. Strength of Legal Rights; V. Conclusions and Options for Strengthening Consumer Protection; 1. Sukuk Structures; 1. Characteristics of Selected Islamic Financial Products; References; I. Introduction; Footnotes
ISBN:	978-1-5135-1510-6
Other identifiers:	10.5089/9781513515106.001 [DOI]
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011281194