한국의 이슬람 금융 도입 가능성과 전망 = Adoption of Islamic Funds in Korean Financial System: Possibilities and Prospects

다국어 초록 (Multilingual Abstract)

Islamic Fund has become one of the most prospect blue chip in the financial market since the beginning of the year 2000. Rapid growth of Islamic Fund was steered by accumulation of oil revenues and active development policies of Islamic states both in economic and political spheres. Moreover, expectations are high since this trend is expected to continue over middle and long term period. In case of Korea, the government has been actively asserting larger efforts in this field since they are the late comers. The Korean government has taken gradual steps in institutionalizing Islamic Funds in its financial market; this includes establishing invigorating policies and modifying both legislative and taxation systems. In spite of these efforts, some of the constraints need to be settled. Domestic financial institutions and companies do not have sufficient understanding and information on this specific field. These restrictions will demand larger initial costs and efforts until they accumulate more experience and business routes. One of the other, and probably one of the larger drawback derives from the political spheres. Adjustment of taxation and legislative systems cannot be solved in a brief season. In this research, therefore, some of the solutions will be introduced in order to resolve these restrictions. By analyzing some of the states who have adopted the Islamic Funds in global financial market, which are Iran, Saudi Arabia, Singapore, Malaysia and Pakistan, possibilities and prospects of its success will be dealt with. Moreover, this research will also provide some of the basic directional guidelines in adopting Islamic Funds.