Securitization across Borders: Organizational Mimicry in Islamic Finance

This article discusses the case of securitization in Islamic finance to tease out what is universal and what is specific about this technique. To do this, the article frames the spatial dispersal of securitization as a form of 'organizational mimicry', which highlights that techniques always rely for their functioning on locally rooted 'cultures of practice', suggesting that successful transplantations require adaptation in both context and technique. This article adds to the prevalent literature on mimicry a geographical perspective by investigating to what extent this double shift can also be traced in the geo-historical dispersal of securitization in Islamic markets.