Abstract
Global Islamic financial system is undergoing the process of active institutionalization: from simple interpretation of the Islamic norms in order to legitimate the establishment of Islamic financial institutions in terms of shari’a law to the stage of formation of international Islamic financial regulators and other elements of the financial infrastructure, to the development and implementation of international Islamic financial standards, to expanding the number and types of Islamic financial products, and o the introduction of Islamic financial rules into the law of the Western countries. The new reality requires a thorough study of the legal status of Islamic financial regulators and their financial products, a clearer shari’a identification of these financial products, and the potential of their implementation in Islamic and non-Islamic jurisdictions.
Highlights
Global Islamic financial system is undergoing the process of active institutionalization: from simple interpretation of the Islamic norms in order to legitimate the establishment of Islamic financial institutions in terms of shari’a law to the stage of formation of international Islamic financial regulators and other elements of the financial infrastructure, to the development and implementation of international Islamic financial standards, to expanding the number and types of Islamic financial products, and to the introduction of Islamic financial rules into the law of the Western countries
The new reality requires a thorough study of the legal status of Islamic financial regulators and their financial products, a clearer shari’a identification of these financial products, and the potential of their implementation in Islamic and non-Islamic jurisdictions
В отличие от традиционных международных финансовых стандартов, которые квалифицируются как «мягкое право» ввиду отсутствия правовых механизмов принудительного исполнения, исламские стандарты еще не получили своего теоретического обоснования и квалификации, но, видимо, такое событие назревает
Summary
В настоящее время в мире насчитывается более 300 исламских финансовых институтов, исламский банкинг применяется в 117 странах 2. Этот процесс возник не на пустом месте: исламские финансовые регуляторы активно изучают опыт международных регуляторов — Совета по финансовой стабильности, Базельского комитета по банковскому надзору, Международной организации комиссий по ценным бумагам ИОСКО и др., в некоторых случаях принимая международные финансовые стандарты в том виде, в каком они есть, в других — адаптируя их к требованиям шариата.
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