Factors Affecting the Efficiency of Stock Markets: Selected Cases of Muslim Countries

This research is to explicate the factors affecting the efficiency of stock markets, stock market role in financial system and its contribution to economic development. Selecting an explanatory approach covering Muslim developing countries to be the focus of this thesis. Stock market ability in allocating investable funds and its compatibility to Islamic modes of finance is the pillar of the research. In addition to laying a background for the current status and structure of the selected Muslim Developing countries.