scholarly journals Analysis of the Sukuk Market Development in the Countries of The World

Author(s):  
Dr. Sirojiddin Z. Abrorov ◽  

Islamic securities sukuk, introduced as a new instrument of the global financial system in the 21st century, have grown rapidly in recent years. Interest in it is growing, as it showed a growth trend even during the global financial and economic crisis and the COVID-19 pandemic. The article analyzes the development of sukuk in 2001-2020. Statistics from Malaysia and Turkey are analysed separately.

2020 ◽  
Vol 2(15)/2020 (2(15)/2020) ◽  
pp. 169-192
Author(s):  
Przemysław Furgacz

Manifold and ongoing developments seem to hint that humanity is just ahead of historic shifts in global banking as well as the financial system. The landmark changes at this moment are unavoidable. The ultra-loose monetary policies practiced by the leading central banks in recent years for a record-breaking period have not resulted in a permanent enhancement of the global economic situation but barely extended the inevitable agony of the current global financial system for additional several years. The COVID-19 pandemic and resultant global economic crisis only made things worse. These simple facts beg the following questions: what future global financial system would probably look like? What currency is going to substitute the role hitherto fulfilled by the crumbling U.S. dollar? How painful the upcoming giant changes will be for societies? What the incoming revolution in geo-economics will mean for geopolitics? Unfortunately, financial boom and bust cycles are not the thing of the past but rather seem to be inextricably linked to the way the modern financial system works. This decisively needs to be reformed. The harbingers of epochal changes are on the horizon. The author will describe them in the paper.


2009 ◽  
Vol 3 (2) ◽  
pp. 245-250
Author(s):  
William Storrar

AbstractSince Public Theology for the 21st Century was first published, the world has witnessed the terrorist events of 9/11 and is now experiencing a growing economic crisis. While the contributors to the volume could not have addressed these events specifi cally, the discussions within the book contain valuable analyses of democracy, active citizenship and the notion of social capital that are highly pertinent in the current climate. Public theology must grapple with and adapt to these changed and changing social and political circumstances.


2013 ◽  
Vol 65 (1) ◽  
pp. 24-41
Author(s):  
Predrag Simic

In the early 21st century, globalization and the world economic crisis changed the balance of powers between the old (declining) and new (emerging) industrial states replacing the unilateral with a multilateral system of international relations and changing the way in which world politics was functioning. Globalization has increased the number of transnational problems (protection of human environment, international traffic and communications, flows of capital, energy, migrations, etc.) that require global governance. However, these trends also indicate that in the 21st century, international relations and world politics will function in a significantly different manner than they did within the bipolar and unipolar order, which characterized the second half of the 20th century.


1999 ◽  
Vol 5 (1) ◽  
pp. 103-144 ◽  
Author(s):  
Anwar Shaikh

AbstractDuring the late 1960s, the long post-war economic boom which had characterised the advanced capitalist countries began to fade away. In its wake came an equally long era of stagnation, decline, and political and economic turbulence. Unemployment, inflation, falling profitability, business failures and bankruptcies were the new order of the day, and it became commonplace to see fearful headlines about the possible collapse of the global financial system or even of accumulation itself.


10.26458/1831 ◽  
2018 ◽  
Vol 18 (3) ◽  
pp. 15-19
Author(s):  
Elena GURGU

A globally warning issued in September 2018 by the former president of the European Central Bank, Frenchman Jean-Claude Trichet says the world economy is exactly the way ahead of the economic crisis of 2008. He said that too many debts have done the global financial system as vulnerable as it was ten years ago in September 2008, when the American bank Lehman Brothers collapsed. Excessive indebtedness in advanced economies was a key factor in triggering the global financial crisis of 2007 and 2008, Jean-Claude Trichet said in an interview with AFP.Currently, debt growth in advanced countries, particularly in the private sector, has slowed, but this slowdown has been offset by an acceleration in emerging-nation debt growth. This makes the entire world financial system at least the same vulnerable as it was in 2008......


2008 ◽  
Vol 206 ◽  
pp. 74-82
Author(s):  
Dawn Holland ◽  
Ray Barrell ◽  
Tatiana Fic ◽  
Sylvia Gottschalk ◽  
Ian Hurst ◽  
...  

Over the past few weeks, the global financial system has appeared on the brink of collapse, as mounting bank losses and a lack of banking liquidity have resulted in a wave of collapsing financial institutions across Europe and the US. While the immediate threat to the financial system appears to have been averted, the continuing deleveraging process, declining asset prices and heightened uncertainty regarding the viability of financial institutions have sharply reduced the willingness and ability of banks to lend to each other and to other borrowers, and at the same time reduced the willingness of borrowers to increase their levels of debt. As the events of recent weeks have unfolded, it has become increasingly clear that the fallout from the financial market crisis will continue to restrict bank lending severely for at least the next several months, pushing the world's major economies into recession. As a consequence, growth in the OECD economies next year is projected to be the weakest since 1982, with output forecast to rise by just 0.4 per cent.


Author(s):  
Елена Зенкина ◽  
Elena Zenkina

Transformation of the world monetary mechanism during an era of formation of post-industrial economy is shown in the textbook. A new role of the monetary relations in post-industrial economy and also the main directions of integration of Russia into the system of the international monetary relations are considered. Trends in development of a world monetary system, including formation of a new monetary system (Initial coin offering) and development of cryptocurrencies as new instrument of mutual settlements are stated.


1998 ◽  
Vol 9 (4) ◽  
pp. 88-93

The Heads of State or Government of the G7 countries and the President of the European Commission met today, 15 May, to discuss the world economic and financial situation, and the challenges we face in strengthening the global financial system.


Author(s):  
E. J. Il'in

This article is devoted to the process of reforming the global financial system and world economic organizations since the foundation of the International Monetary Fund at the Bretton Woods Conference in 1944 to present time. Special attention is given to results of cooperation of the IMF and the "Group of Twenty"in the context of the world financial crisis 2008-2009. This article mentions the key benchmarks of the historical development of world economy: foundation of the Bretton Woods financial system, rejection of the gold standard at the Jamaica Conference, transition to the floating exchange rates, the wave of crises in the 1990-s, the world financial crisis of 2008-2009. The process of evolution of the IMF within the framework of these global events is considered here. The cooperation of EU, IMF and "Group of Twenty" is considered. The reforms of the IMF and their results are analyzed. The policy of the IMF at different historical stages of its evolution is estimated. As well as it results, the article also deals with the formation and development of the "Group of Twenty". The increasing role of the "Group of Twenty" in the global economic governance and reforming the IMF is considered. Especially is marked the necessity of the further reforms of the IMF and increasing of participation of the "G-20" in the world economic and politic system.


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