An Alternate Financial System- Relevance and Challenges

An Alternate Financial System- Relevance and Challenges

Registration ID: IJNRD_201021

Published ID: IJNRD2307067

DOI: Click Here to Get

Dr. Rakhshandah Hani

Alternate system, interest, relevance, challenges

Global economic crises have exposed the weaknesses of financial systems established by the advocates of capitalism. Unchecked speculative activities and corruptive practices of market players have damaging effects on the functioning of the economy. There is lack of coordination between suppliers and users of capital creating a conflict of interest. Those in need of funds are put in disadvantageous positions and are likely to face exploitation. Economic thinkers and policy makers are revisiting the proponents of conventional financial system so that inequalities of system can be dealt with. Profit and loss sharing models of finance are being proposed as more egalitarian models. The distinguishing feature of an alternate system is the prohibition of interest and other usurious transactions, the ill-effects of which are not hidden from economic thinkers. This paper presents principles on which such a system rests and its relevance in recent times. However, several challenges are involved in the transition from a conventional system to another order.

Published Paper   E-Certificate

"An Alternate Financial System- Relevance and Challenges", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 7, page no.a531-a537, July-2023, Available :https://ijnrd.org/papers/IJNRD2307067.pdf

Volume 8 Issue 7, July-2023

Pages : a531-a537

Paper Reg. ID: IJNRD_201021

Published Paper Id: IJNRD2307067

Downloads: 000121131

Research Area: Arts

Country: Mumbai, Maharashtra, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2307067.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2307067

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJNRD (IJ Publication) Janvi Wave

This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

Call For Paper - Volume 10 | Issue 8 | August 2025

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