Obiyathulla Ismath Bacha - Head of Graduate Studies in International Center for Education in Islamic Finance (INCEIF)

Given the frequency, depth and the diverse nature of economies that have had to suffer from financial crises, make it appropriate to question the system. We argue that conventional capital markets that are heavily biased towards debt and debt based instruments are inherently unstable and mere reregulation would miss the point. We propose therefore, a risksharing framework that minimizes if not avoid debt completely and brings about renewed stability.