Title: The influence of culture and religion on trust in the emerging financial market in Libya

Authors: Zainab Abdussalam

Addresses: Banking and Finance Department, Business School, University of Azzaytuna, Libya

Abstract: This study sets out to explore relations between culture, religion, trust and their impact on the emerging financial market in Libya. This research was conducted using qualitative method to obtain the data. The findings of this study are that the isomorphism of Western institutions to the financial market, without considering changes according to culture and religion may inhibit Muslims from investing and dealing with these institutions. Moreover, this study finds that culture and religion are dimensions that can lead to the enhancement of trust, which itself then can lead to successful financial market development in Libya.

Keywords: religion; culture; trust; MENA; Middle East; North Africa; emerging markets; Libya; stock markets; financial markets; Muslims; Islam; investment.

DOI: 10.1504/IJBAF.2014.063207

International Journal of Behavioural Accounting and Finance, 2014 Vol.4 No.3, pp.206 - 220

Published online: 30 Apr 2015 *

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