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date: 09 May 2021

Abstract and Keywords

Islamic banking and finance (IBF) is a market in formation with factious voices claiming certain economic activity as ‘Shariah-compliant’ or ‘Islamic’ while other voices claim the same economic activity to be outside of, if not contrary to, Islam. This article explores the definitional anxiety surrounding IBF. It then surveys and critiques the social science literature, and explains why IBF so closely resembles conventional finance.

Keywords: Islamic banking, Islamic finance, social science, conventional finance

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