Corporate Islamic Financing In A Complex Economy

摘要

This paper examines a financing process between companies in a complex economic environment. Many researches tried to optimize the stream of money-flow between economic actors. In fact, companies can either return a profit (Cash surplus) or a loss (Cash deficit), so funds can be created to generate financing between these companies. Such financing can be flowed through different instruments, we choose conventional financing (Debt) and Islamic financing (Mark-up sale and Profit-Loss sharing). An Agent-Based simulation model is used in order to evaluate the effects of such financing within a complex economic environment. Our results show that mark-up sale and profit-loss sharing outperform each other depending on the level of economic competition. While debt financing with interest rates produces the least positive results in the micro-level as well as the macro-level.