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Islamic Finance by Cedomir Nestorovic, Professor, Department Management, ESSEC Asia Pacific

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Published on Jul 16, 2012

http://www.essec.edu | Cedomir Nestorovic has been a Professor at ESSEC Business School for more than 15 years. He teaches Geopolitics and International Marketing and now focuses his research on Islam and Business. Professor Nestorovic is now based at ESSEC Asia Pacific in Singapore.

Professor Nestorovic explains some key principles of Islamic Finance which revolves around prohibition and compulsory rules. Among prohibitions, the main principle is Riba (Interest rates). Islamic Finance is definitely against interest rates. Among the positive principle, you have profitable sharing: companies do not borrow money; they enter into partnerships with banks for certain ventures or business they want to achieve.

Islamic Finance is successful because it is mainly coming from public institutions and also governments. If you want to open a plant in one of the Muslim countries, there is always a compulsory finance backing behind. So by investing there, you are investing in Islamic Finance as well.

The latest numbers are one thousand one hundred billion dollars for Islamic Finance. It is expending, year after year. However it represents about 3 or 4% of conventional finance. All companies and banks are interested in others to enter this business. However it can not replace conventional finance.


Articles about Cedomir Nestorovic & Islamic Finance
- Islamic finance: Notion of stewardship imbues business ethics:
http://www.ft.com/intl/cms/s/2/8f79c2...

Professor of the week:
http://www.ft.com/intl/cms/s/2/79a522...

More information:
http://www.essec.edu/faculty/cedomir-...

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