View source for Potential Islamic Certificates for Resource Mobilization

The title is a research paper by Mohamed El-Hennawi<ref>Faculty of Commerce, University of Alexandria, Alexandria, Egypt</ref> published in “Islamic Economic Studies”, Vol. 1, No. 1, 1993,18 Pages.<ref>https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3168376</ref> The following is an excerpt from its abstract.

==Islamic banks and investment==

Islamic banks, national and international, have recently come into existence to play an important intermediary role in pooling savings, especially from small investors, and channelling them into productive investments. 

==Islamic banks and the funds of the Islamic Ummah==

This role has been constrained, to a great extent, by the absence of capital markets and financial instruments based on shari'ah. Islamic banks, therefore, have embarked on a serious effort to develop their own instruments for mobilizing the funds of the Islamic Ummah and using them to foster economic and social development of the ummah. 

==Objective of the paper==

The Islamic Development Bank (IDB) and other Islamic banks have felt the need for a serious investigation, which would explore the possibilities for devising new financial instruments based on the shari'ah. The paper addresses this issue. 

==Notes==