This service is more advanced with JavaScript available, learn more at http: Journal of Business Ethics. Islamic banking, based on the prohibition of interest, is well established throughout the Muslim world.

Attention has now turned towards applying Islamic principles in equity markets. The search for alternatives to Western style markets has been given added impetus in Muslim countries by the turmoil in Asian financial markets in Common stocks are a legitimate form of instrument in Islam, but many of the practices associated with stock trading are not.

Conventional and Islamic stock markets: what about financial performance? - Munich Personal RePEc Archive

In this paper the instruments traded and the structure and practices of stock markets are examined from an Islamic perspective. Speculation is not acceptable in Islam and measures would have to be taken to ethics and efficiency in islamic stock markets speculative trading. In addition short selling and ethics and efficiency in islamic stock markets trading are severely restricted.

Role of the Stock Exchange | Stock Exchange | Public Company

The use of stock index and equity mcclatchy stock market and options are also unlikely to be acceptable within stock brokerage test Islamic market.

Regulatory authorities in Muslim countries will therefore find a vast array of problems in attempting to structure a trading system that will be acceptable.

Part of Springer Nature. Not logged in Not affiliated Religion, Ethics and Stock Trading: The Case of an Islamic Equities Market. Cite this article as: Journal of Business Ethics JIBF Journal of Islamic Banking and Finance: Analysis and Management5th Ed.

Evidence and Applications The Dryden Press, Chicago. Publisher Name Kluwer Academic Publishers Print ISSN Online ISSN About this journal Reprints and Permissions.

Price Reaction of Ethically Screened Stocks: A Study of the Dow Jones Islamic Market World Index | SpringerLink

Source Sans Pro, Helvetica, Arial, sans-serif; font-size: Unlimited access to the full article Instant download Include local sales tax if applicable. Get Access to Journal of Business Ethics.

Learn about institutional subscriptions. RIS Papers Reference Manager RefWorks Zotero. BIB BibTeX JabRef Mendeley. Share article Email Facebook Twitter LinkedIn. Cookies We use cookies to improve your experience with our site. Over 10 million scientific documents at your fingertips Switch Edition Academic Edition Corporate Edition.