Belief and Rule Compliance: An Experimental Comparison of Muslim and Non-Muslim Economic Behavior uses modern behavioral science and game theory to examine the behavior and compliance of Muslim populations to Islamic Finance laws and norms. The work identifies behaviors characterized by unexpected complexity and profound divergence, including expectations for sharing, cooperation and entrepreneurship gleaned from studies. Adopting a unique set of recent empirical observations, the work provides a reliable behavioral foundation for practitioners seeking to evaluate, create and market Islamic financial products.Covers the economic behavior of Muslims and non-MuslimsIndicates when, and if, economic behavior confirms/opposes rational self-interest assumptionsLinks rule compliance with risk sharing concepts in Islamic FinanceApplies game theory to understand behavioral rules compliance regarding Islamic Finance lawsExplores behavioral implications for creating and marketing new financial products

Belief and Rule Compliance: An Experimental Comparison of Muslim and Non-Muslim Economic Behavior (Perspectives in Behavioral Economics and the Economics of Behavior)

Business & Money

Mirakhor, Abbas

Mohamed, Hazik

Erbaş, Nuri

Economics

Academic Press

<p>The digital revolution in financial services is under way, and digital disruption has the potential to shrink the role and relevance of today’s banks, while simultaneously creating better, faster, cheaper services that will be an essential part of everyday life. This forward-looking book discusses the crucial innovation, structural and institutional development for financial technologies (fintech) in Islamic Finance. Fintech has inadvertently created new forms of financial standards by virtue of its products and services, and in doing so, offers the ability to create new ways to fully enable compliance with Islamic values in order to rebuild trust and confidence in the financial system. The potential to enhance the existing economic systems and banking products with better products that serve all customers throughout the world equally is crucial to flourish and sustain the Islamic economy. This book discusses the need to develop new strategies for all readers, including consumers, government agencies and financial institutions, to cope with the digital economic evolution. The authors explain concepts in fintech and blockchain technology and follow through with their applications, challenges and evolving nature. The book provides insights into the disruptive technology which can also enhance prescribed Islamic behaviors in modern economic transactions. Case studies highlight how to cope with modern transactional behavior with the advent of global online/mobile markets, shorter attention spans, and impersonal trade exchange.</p>

Blockchain, Fintech, and Islamic Finance: Building the Future in the New Islamic Digital Economy

Ali, Hassnian

De|G Press

de Gruyter

See the best price to sell, buy, or rent books by Mohamed, Hazik. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Mohamed, Hazik