PRINCIPI I INSTRUMENTI ISLAMSKOG FINANSIJSKOG TRŽIŠTA
THE PRINCIPLES AND INSTRUMENTS OF THE ISLAMIC FINANCIAL MARKET

Summary/Abstract: The financial market (Finanzmarkt) or the money markets in a conventional economy represents a set of institutions and transactions where buyers and sellers meet and where trading of capital takes place, that is, these are places, persons, instruments, techniques and flows that allow for the exchange of cash surpluses and shortages, i.e. money, capital and foreign exchange. Undeveloped financial markets are reduced to deposits, loans and banks, and developed markets are abound with financial instruments, various financial institutions, complex financial techniques and numerous financial flows, so they are divided into the money market and short-term securities market, the capital market and the foreign exchange market. A current and important question is raised as to whether and how such a defined financial market can function under the conditions of excluding of interest from financial operations?

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