Equity finance of economic development: feasibility and ethical desirability

Seeking to avoid riba (interest) in financing, individuals in the Islamic world are looking at equity finance as a possible substitute for debt financing. However, equity markets are not as strong as desired in developing Muslim countries and the weakness of the market promotes uncertainty and speculative short-term approaches rather than the farsighted capital engagement needed. The author mentions unit trusts as a method that might provide more stability and lead to long-term investment.