The Negotiability of Debt in Islamic Finance: An Analytical and Critical Study

Abstract

Islamic finance is a new, promising, and growing industry that serves Muslims and non-Muslims around the world. Many Western countries host Islamic financial institutions to benefit from Islamic financial businesses in their jurisdictions. Yet, while some aspects of Islamic finance are growing rapidly, others, such as the Islamic debt market, still face challenges. Among the challenges that the Islamic debt market still faces are: non-liquidity and non-diversity.