Islamic Banking And Finance

Author by : Munawar Iqbal
Languange : en
Publisher by : Edward Elgar Publishing
Format Available : PDF, ePub, Mobi
Total Read : 82
Total Download : 325
File Size : 54,6 Mb
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Description : It is a well-known fact that conventional commercial banks provide financial intermediation services on the basis of interest rates on assets and liabilities. However, since interest is prohibited in Islam, Islamic banks have developed several other modes through which savings are mobilized and passed on to entrepreneurs, none of which involve interest. Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored. The authors illustrate that in addition to some 200 Islamic banks operating in Muslim as well as non-Muslim countries, some of the biggest multinational banks are now offering Islamic financial products. This book will fascinate students, researchers and academics with a special interest in comparative banking, middle-eastern studies and international finance, and will also appeal to practitioners of banking and finance.


Shari Ah Compliant Private Equity And Islamic Venture Capital

Author by : Fara Madehah Ahmad Farid
Languange : en
Publisher by : Edinburgh University Press
Format Available : PDF, ePub, Mobi
Total Read : 33
Total Download : 153
File Size : 50,8 Mb
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Description : This book focuses on the applicability of Shari'ah-based structures and Islamic venture capital to the private equity industry. It includes case studies and examples of business financial appraisals to give an in-depth view of the application and operatio


Islamic Capital Markets

Author by : Kabir Hassan
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 13
Total Download : 772
File Size : 51,8 Mb
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Description : "This book covers all Islamic derivatives and structured products including state of the art Islamic short-selling methods used by hedge funds and gives a comprehensive overview of current Islamic capital markets. It takes a practical approach addressing practical issues in risk management and investing for both Islamic and non-Islamic readers"--Provided by publisher.


Risk Management For Islamic Banks

Author by : Imam Wahyudi
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 28
Total Download : 286
File Size : 50,9 Mb
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Description : Gain insight into the unique risk management challenges within the Islamic banking system Risk Management for Islamic Banks: Recent Developments from Asia and the Middle East analyzes risk management strategies in Islamic banking, presented from the perspectives of different banking institutions. Using comprehensive global case studies, the book details the risks involving various banking institutions in Indonesia, Malaysia, UAE, Bahrain, Pakistan, and Saudi Arabia, pointing out the different management strategies that arise as a result of Islamic banking practices. Readers gain insight into risk management as a comprehensive system, and a process of interlinked continuous cycles that integrate into every business activity within Islamic banks. The unique processes inherent in Islamic banking bring about complex risks not experienced by traditional banks. From Shariah compliance, to equity participation contracts, to complicated sale contracts, Islamic banks face unique market risks. Risk Management for Islamic Banks covers the creation of an appropriate risk management environment, as well as a stage-based implementation strategy that includes risk identification, measurement, mitigation, monitoring, controlling, and reporting. The book begins with a discussion of the philosophy of risk management, then delves deeper into the issue with topics like: Risk management as an integrated system The history, framework, and process of risk management in Islamic banking Financing, operational, investment, and market risk Shariah compliance and associated risk The book also discusses the future potential and challenges of Islamic banking, and outlines the risk management pathway. As an examination of the wisdom, knowledge, and ideal practice of Islamic banking, Risk Management for Islamic Banks contains valuable insights for those active in the Islamic market.


Islamic Finance

Author by : Nafis Alam
Languange : en
Publisher by : Springer
Format Available : PDF, ePub, Mobi
Total Read : 39
Total Download : 273
File Size : 53,8 Mb
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Description : This book provides a comprehensive and practical guide to Islamic finance. It covers a broad range of important topics including Islamic banking, capital markets, Takaful, wealth management, Fintech in Islamic finance, compliance and governance issues. It begins by introducing Islamic banking, covering its objectives, principles and evolution, before moving on to discuss the religious foundations of Islamic finance. The prohibition of Riba and Gharar and Islamic contracts are explored, before Islamic deposits, and financing are discussed in practice. A comparative analysis is provided between Islamic banking products and services in a range of counties throughout the world. Information technology including fintech, payment and settlement networks, opportunities and challenges are also addressed. Corporate governance, Islamic capital markets, and Islamic insurance (Takaful) are all explored, before concluding with a chapter on wealth management and Islamic investment funds. It features case studies based on the authors’ own experiences consulting with Islamic financial institutions. Ideal for those looking to improve their understanding of practical Islamic financing models, contracts, product structures and product features, this book will appeal to both students and practitioners in Islamic finance and banking, those based in Islamic financial institutions, and those based in conventional financial institutions who may be looking to enter the Islamic financial market.


The Stability Of Islamic Finance

Author by : Hossein Askari
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 36
Total Download : 787
File Size : 42,7 Mb
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Description : The Stability of Islamic Finance main focus is on thequestion of the sources of financial instability which seemsinherent in the conventional system. As a core component of thisfocus, the book will consider episodes of turbulence andinstability in a historical context recalling the occurrence ofsuch events from mid-19th century to the present. It will presentvarious theoretical explanations along with solutions andalternative financial systems that avoid instability provided byvarious scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of anIslamic financial system and show that at its core, this systemshares many characteristics of an stable financial system proposedby Western scholars throughout history to avoid the inherentinstability of the present dominant system. Particular emphasiswill be placed on the present financial crisis and its causes aswell the financial crisis of the 1997 in Southeast Asia, Russia,and Latin America relating these episodes to the fundamentalfeatures of the dominant system. The debt crisis of the low incomecountries will also be part of this discussion. It will then arguethat these crises could be mitigated under an Islamic system or anyother system with similar architecture.


The Islamic Debt Market For Sukuk Securities

Author by : Mohamed Ariff
Languange : en
Publisher by : Edward Elgar Publishing
Format Available : PDF, ePub, Mobi
Total Read : 30
Total Download : 415
File Size : 43,9 Mb
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Description : The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a highly unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich. The internationally renowned contributors present an in-depth study of sukuk securities, beginning with a comprehensive definition and history. They go on to discuss Islamic financial concepts and practices that govern how sukuk securities are issued, how markets are carefully regulated to protect investors, and how securities are designed to safeguard invested money. The prospects and challenges of developing sukuk Islamic debt markets across the world are also illustrated. This comprehensive guide to sukuk markets will prove a fascinating and useful reference tool for academics, students, researchers and practitioners with an interest in Islamic finance, and, more specifically, in the nascent field of sukuk securities.


Profit And Loss Sharing

Author by : Shahrukh Rafi Khan
Languange : en
Publisher by : Oxford University Press, USA
Format Available : PDF, ePub, Mobi
Total Read : 11
Total Download : 375
File Size : 53,6 Mb
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Description : With emphasis on the Pakistan Islamic banking venture, 1979-1985.


Dilemmas And Challenges In Islamic Finance

Author by : Yasushi Suzuki
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 18
Total Download : 810
File Size : 45,9 Mb
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Description : The phenomenal growth of Islamic finance in the last few decades has been accompanied by a host of interesting questions and challenges. One of the critical challenges is how Islamic financial institutions can be motivated to participate in the 'equity-like' profit-and-loss sharing (PLS) contracts. It is observed that Islamic banks are reluctant to participate in the pure PLS scheme which is manifested by the rising concentration of investment on murabaha or mark-up financing. This phenomenon has been the hotbed of academic criticism on the contemporary practice of Islamic banking. This book explains the 'murabaha syndrome' in light of the incentive provided by the current institutional framework and what are the changes required in the governance structure to mend this anomaly.


Islamic Finance

Author by : Muhammad Hanif
Languange : en
Publisher by : CreateSpace
Format Available : PDF, ePub, Mobi
Total Read : 84
Total Download : 315
File Size : 47,7 Mb
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Description : This book is result of five years teaching of Islamic finance course to MBA Finance students. This book is written with a clear focus on learning of Islamic banking & finance by accounting, banking, business and finance students/professionals. Resources available, so for, on the subject have focused on legal side and very negligible work is available on financial front for a common user. This book is written in financial perspective and author has focused upon financial impacts, generated by application of Islamic financial laws. However a summary of Islamic commercial laws of each chapter has been provided. Author has adopted balance sheet method to inculcate the knowledge; hence, understanding of elementary balance sheet is recommended to get maximum out of this book. This book is divided into five parts. Part-1 presents an update on Islamic finance. Part two is about asset backed financing provided by IFIs. It includes trading (selling) modes of financing including Murabaha, Salam and Istisna'a; it also includes Ijarah financing. At the start of part two, summary of Shari'a rulings about sales is reported. Part three of the book deals with profit and loss sharing modes of financing including Musharaka, diminishing Musharaka and Mudaraba. A special section is devoted to discuss the causes of lesser application of Musharaka in operations of IFIs, in addition to Shari'a rulings and financial impact. Chapter seven is about Diminishing Musharaka; a form of gradually declining partnership between an IFI and clients; generally used to finance real estates. Under diminishing Musharaka, I have discussed the basic Shari'a rulings, Islamic house financing, comparative study of conventional and Islamic mortgages and installment calculation under different assumptions for house financing. Chapter eight is about Mudaraba. Under this scheme of financing IFIs provide capital to financially weak but skilful people to do the business and share outcome with IFIs. Part four is about deposits management. Part five of the book presents special topics in Islamic Finance. In this part areas of liquidity management and Islamic insurance are discussed. Under Islamic capital market two dedicated chapters have been included; each for equities and Sukuk. Chapter 12 is dedicated for Islamic insurance. Last chapter has focused on challenges to Islamic finance industry. Third edition is definitely outcome of very encouraging response by academic community to earlier editions. In this edition due attention has been given to present material in reader friendly mode in addition to thorough review of content, exercises and figures. In this edition Islamic capital market is re-written by including separate chapters on equities and Sukuk. Also a special chapter is devoted to Islamic insurance. Updated figures on global volume of assets, regional shares, equity funds and Sukuk are also part of this edition. Also more examples included in the text to make the concept clear. In appendix guidance for establishment of Islamic bank and appointment of Shari'a advisor as provided by local central bank is included. Increased number of true/false, multiple choice questions and mini cases are also forming part of updated edition. This book is useful for MBA/BBA students as a three credit hour course as well as for banking/finance students and practitioners of Islamic banking & finance. It is also useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance. I hope this book will serve its purpose through imparting knowledge of Islamic banking & finance among accounting, business and finance graduates as well as practitioners of Islamic financial system, investors and general public.


On Islamic Banking Performance And Financial Innovations

Author by : Mondher Bellalah
Languange : en
Publisher by : Cambridge Scholars Publishing
Format Available : PDF, ePub, Mobi
Total Read : 86
Total Download : 888
File Size : 41,7 Mb
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Description : Islamic banking has seen rapid growth during the last two decades. This is a result of the liberalization of financial regulation, the globalization of financial markets, technological changes, product innovation, the birth of several new Islamic States, and a growing Islamic presence in the West, among other factors. New innovations have allowed economists and religious scholars to bring new products to almost all areas of banking and insurance, products which would previously have been extremely controversial. This book provides a better understanding of the Muslim community around the world of Islamic economics and its importance, especially in these days of financial crisis. The book will also serve as a reference manual for teaching the theory and practice of Islamic banking and Islamic financial innovations around the world. Islamic finance courses at universities are highly important since Islamic financial innovations remain very limited, and additional efforts have to be made in this area.


Islamic Finance Why It Makes Sense For You Understanding Its Principles And Practices 2nd Edition

Author by : Abdullah, Daud Vicary
Languange : en
Publisher by : Marshall Cavendish International Asia Pte Ltd
Format Available : PDF, ePub, Mobi
Total Read : 41
Total Download : 676
File Size : 44,9 Mb
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Description : Islamic finance has been growing faster than conventional finance for most of the past decade. It has done this on a model of finance that rejects interest and promotes profit sharing. How is this possible? Yet the wealth potential of Islamic finance is far from being its most attractive feature. What is most compelling about Islamic finance are its ethical principles and strong corporate governance based on Shariah law. This SECOND EDITION explains and updates how conventional financial products work — from mortgages and leases to trade finance and insurance — before delving into their Islamic versions and contains three new topics on microfinance, the ethical company and wealth successionAbout the Authors Daud Vicary Abdullah has been in the finance and consulting industry for more than 40 years, and has focused solely on Islamic finance since 2002. At Hong Leong Islamic Bank, he was instrumental in transforming an Islamic banking window into a full-fledged Islamic banking subsidiary. Today, he helms INCEIF (International Centre for Education in Islamic Finance), the global university for Islamic finance set up by Bank Negara (Central Bank of Malaysia) in December 2005. He is also a frequent speaker and commentator on matters relating to Islamic finance. Keon Chee is a senior executive in Singapore where he oversees the wills, trusts and corporate services businesses in his firm. He has many years' experience in investment research, derivatives, financial training and insurance. He obtained an MBA from Columbia University and an LL.B (Hons) from the University of London, and enjoys using his broad background in helping clients with their estate planning needs. He is also co-author of the best-selling Make Your Money Work For You.


Islamic Capital Markets A Comparative Approach Second Edition

Author by : Obiyathulla Ismath Bacha
Languange : en
Publisher by : World Scientific
Format Available : PDF, ePub, Mobi
Total Read : 33
Total Download : 196
File Size : 53,7 Mb
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Description : Islamic Capital Markets: A Comparative Approach (2nd Edition) looks at the similarities and differences between Islamic capital markets and conventional capital markets. The book explains each topic from both the conventional and the Islamic perspective, offering a full understanding of Islamic capital markets, processes, and instruments. In addition to a full explanation of Islamic products, the book also ensures a holistic understanding of the dual markets within which Islamic capital markets operate.Ideal for both students and current practitioners, the second edition of the highly successful Islamic Capital Markets: A Comparative Approach fills a large gap in the current literature on the subject, featuring case studies from Malaysia, Indonesia, Europe, and the Middle East. One of the few comprehensive, dedicated guides to the subject available, the book offers comprehensive and in-depth insights on the topic of Islamic finance for students and professionals alike.


Islamic Finance Risk Sharing And Macroeconomic Stability

Author by : Muhamed Zulkhibri
Languange : en
Publisher by : Springer
Format Available : PDF, ePub, Mobi
Total Read : 50
Total Download : 236
File Size : 48,5 Mb
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Description : The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic finance. Many theoretical studies generally claim superiority of an Islamic financial system based on pure equity and participatory modes of financing, while empirical studies provide mixed results. Studies and discussions are needed to fully understand how Islamic finance could contribute to the ongoing discussion of financial stability. Against this background, this book addresses various aspects of Islamic finance and the risk-sharing mechanism contributions to the overall macroeconomic and financial stability. Undoubtedly, the findings and recommendation from this book should be of great interest not only to future academic researchers in the field of macroeconomic stability and Islamic finance, but also to policy makers and regulators who are keen on drawing lessons from Islamic finance experiences to prevent similar crisis in the future.


Profit Loss Sharing

Author by : Muhammad Hanif
Languange : en
Publisher by : CreateSpace
Format Available : PDF, ePub, Mobi
Total Read : 31
Total Download : 552
File Size : 47,7 Mb
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Description : Islamic banking and finance industry is expanding world over with an unprecedented growth. The global volume of Shari'a compliant assets has reached to US $ 1,700 Billion by the end of 2013, displaying a growth of 21% from 2007-13 (GIBCR-2014) Middle East and North Africa (MENA) region is the centre of Islamic finance market and contributes 74% share in global assets under Islamic finance, followed by East Asian region with a share of 17% while 9% from rest of the world. (IFSL, 2013). Share of Bank assets is 90% followed by equity funds 5% and rests are others in the global volume of assets under Islamic finance. In Pakistan Islamic financial services are expanding nationwide; and by the end of September 2013, number of Islamic Banking Institutions (IBIs) has reached to 19 with the branch network of 1,161. Islamic finance has grown at 28% per annum for 2008-13 (SBP-2013). For Islamic financial industry, deposit collection is not as much difficult as is financing and investments in business and industry. The investment avenues are limited due to Shari'a compliance restrictions as compared to conventional banks. For IFIs, Shari'a compliant modes of investments are a must. Conventional interest based bonds, leasing and insurance companies' certificates and government securities are not in line with Islamic financial system. However investment in equities, which are primarily profit and loss sharing based, fall within Shari'a compliant investment universe. This book is result of Six years teaching of Islamic finance course to MBA Finance students. This book is written with a clear focus on learning of profit and loss sharing mechanism (developed under Islamic financial system) by accounting, banking, business and finance students/professionals. This book deals with profit and loss sharing modes of financing including Musharaka, diminishing Musharaka and Mudaraba. A special section is devoted to discuss the causes of lesser application of Musharaka in operations of IFIs, in addition to Shari'a rulings and financial impact. Chapter two is about Diminishing Musharaka; a form of gradually declining partnership between an IFI and clients; generally used to finance real estates. Under diminishing Musharaka, I have discussed the basic Shari'a rulings, Islamic house financing, comparative study of conventional and Islamic mortgages and installment calculation under different assumptions for house financing. Chapter three is about Mudaraba. Under this scheme of financing IFIs provide capital to financially weak but skilful people to do the business and share outcome with IFIs. Increased number of true/false, multiple choice questions and mini cases are also forming part of updated edition. This book useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance. I hope this book will serve its purpose through imparting knowledge of Islamic banking & finance among accounting, business and finance graduates as well as practitioners of Islamic financial system, investors and general public.


Public Finance And Islamic Capital Markets

Author by : Syed Aun R. Rizvi
Languange : en
Publisher by : Springer
Format Available : PDF, ePub, Mobi
Total Read : 30
Total Download : 375
File Size : 40,8 Mb
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Description : This book addresses the financing of government budgets with non-debt-creating flows through risk-sharing capital market instruments. It offers a comparative analysis with conventional finance to demonstrate the ability of Islamic capital market instruments to create an impetus for economic stability and growth. Rizvi, Bacha, and Mirakhor guide readers chronologically through the unfolding effects of macroeconomic policy implemented to reduce crippling sovereign debt, increase government financing, and guide governments to the path of economic progress.


Risk Sharing Finance

Author by : Saad Bakkali
Languange : en
Publisher by : Walter de Gruyter GmbH & Co KG
Format Available : PDF, ePub, Mobi
Total Read : 28
Total Download : 823
File Size : 55,9 Mb
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Description : The contemporary finance deals mainly with multilateral and multi-counterparty transactions. Islamic Jurisprudence (Fiqh) has yet to develop its conceptualization of this modality of financing. Thus far, it has become a norm for large financing projects to rely on a complex structure of interconnected bilateral contracts that in totality becomes opaque, complex and costly. An unfortunate result of the unavailability of an efficient Fiqhi model applicable to modern multilateral and multi-counterparty contracts has been the fact that the present Islamic finance has been forced to replicate conventional risk-transfer (interest rate based) debt contracts thus drawing severe criticisms of duplicating conventional finance. In 2012, a gathering of some of the Muslim world’s most prominent experts in Jurisprudence (Fuqaha) and economists issued the Kuala Lumpur Declaration (Fatwa) in which they identified risk sharing as the essence of Islamic finance. The Declaration opened the door for a new Fiqh approach to take the lead in developing the jurisprudence of multilateral and multi-counterparty transactions. This Declaration (Fatwa) provides a prime motivation to search for a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions. From the perspective of Islamic Jurisprudence (Fiqh), the technicalities of the concept of risk sharing in contemporary finance have yet to be defined in Islamic literature. This book attempts to clarify and shed light on these technicalities from the perspective of Fiqh. It is a comprehensive study that relies on the fundamental Islamic sources to establish a theoretical and practical perspective of Fiqh encompassing risk-sharing Islamic finance as envisioned in the Kuala Lumpur Declaration of 2012. This new paradigm should lead to a more efficient approach to multilateral and multi-counterparty Islamic contracts which, here-to-fore has been lacking in the current configuration of Islamic finance.


Islamic Corporate Finance

Author by : M. Kabir Hassan
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 21
Total Download : 486
File Size : 53,8 Mb
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Description : Most existing texts covering topics in Islamic finance discuss the potential of Islamic banking; very few talk about other forms of financing and the investment activities of Islamic firms from the standpoint of owners and managers. This book fills this gap by looking at the traditional as well as non-traditional financing and investment activities of shariah-compliant companies. The chapters in this edited text offer a full range of topics on corporate finance for Islamic firms, including global comparisons of shariah screening, dividend policy and capital structure of Islamic firms, details of global Islamic equity markets, trends and performance of sukuk markets, and a brief account of derivative securities that can be used in Islamic finance. This is a useful reference for anyone who wishes to learn more about the performance of shariah-compliant companies vis-à-vis conventional firms. The book includes both technical and non-technical information that would be suitable for classroom teaching as well as a reference for postgraduate research students.


Islamic Capital Market

Author by : Muhammad Hanif
Languange : en
Publisher by : CreateSpace
Format Available : PDF, ePub, Mobi
Total Read : 78
Total Download : 415
File Size : 41,7 Mb
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Description : Islamic banking and finance industry is expanding world over with an unprecedented growth. The global volume of Shari'a compliant assets has reached to US $ 1,700 Billion by the end of 2013, displaying a growth of 21% from 2007-13 (GIBCR-2014) Middle East and North Africa (MENA) region is the centre of Islamic finance market and contributes 74% share in global assets under Islamic finance, followed by East Asian region with a share of 17% while 9% from rest of the world. (IFSL, 2013). Share of Bank assets is 90% followed by equity funds 5% and rests are others in the global volume of assets under Islamic finance. For Islamic financial industry, deposit collection is not as much difficult as is financing and investments in business and industry. The investment avenues are limited due to Shari'a compliance restrictions as compared to conventional banks. For IFIs, Shari'a compliant modes of investments are a must. Conventional interest based bonds, leasing and insurance companies' certificates and government securities are not in line with Islamic financial system. However investment in equities, which are primarily profit and loss sharing based, fall within Shari'a compliant investment universe. Capital market is one of the major sources of diverting funds from savers to investors. Islamic finance is expanding in capital market in the form of Islamic indexes, Sukuk, money market funds and equity market funds. To address the issue of investment in marketable equities (which are primarily based on profit and loss sharing principle), Shari'a screening filters have been developed and we have above ten Islamic Indexes operating worldwide including DJIM, FTSE, S&P, MSCI, HSBC, Ameri, BID, Azzad and KMI. There exist differences in filtering criteria of these indexes and it is quite possible that a company is Shari'a compliant under one index and not under other(s) [see Derigs & Marzban, 2008]. This difference exists among all followers of revealed books (Jews, Christians and Muslims), in explanation and detailed rules development based on revelations. There are at least five schools of thoughts based on solid reasons and logic among Muslims including Hanfi, Shafai, Malki, Hanbali and Jaafari. In Pakistan Al-Meezan Investment Management Ltd (AIML), subsidiary of a leading IFI (Meezan Bank) took the initiative and started screening of KSE listed securities through Shari'a compliance filters and developed KSE-Meezan Index (KMI-30). Test of Shari'a compliance of stocks is done under the guidance of qualified and reputed Shari'a experts. For a security, to be “Shari'a compliant” based on KMI Criteria, it must meet ALL the six key tests given below (KMI-2008).This book is written with a clear focus on learning of Islamic capital market by accounting, banking, business and finance students/professionals. Under Islamic capital market two dedicated chapters have been included; each for equities and Sukuk. Shari'a compliance of equity securities, trading rules and valuation mechanism discussed under equity chapter. Chapter-2 on Sukuk includes origin, development, types and Sukuk process along with Shari'a rulings. In this edition due attention has been given to present material in reader friendly mode in addition to thorough review of content, exercises and figures. Updated figures on equity funds and Sukuk are also part of this edition. This book is useful for MBA/BBA students as well as for banking/finance students and practitioners of Islamic banking & finance. It is also useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance.


Sukuk Securities

Author by : Meysam Safari
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 98
Total Download : 452
File Size : 48,7 Mb
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Description : The essential guide to global sukuk markets worldwide Sukuk Securities provides complete information and guidance on the latest developments in the burgeoning sukuk securities markets. Written by leading Islamic finance experts, this essential guide offers insight into the concepts, design features, contract structures, yields, and payoffs in all twelve global sukuk markets, providing Islamic finance professionals with an invaluable addition to their library. The first book to fully introduce the market, this book provides a detailed overview of the sukuk market, with practical guidance toward applying these instruments in real-world scenarios. Readers will learn how sukuk securities are regulated and the issues that arise from regulations, and gain insight into the foundation and principles of Islamic finance as applied to these instruments. Extensive tables illustrate t-test comparisons between conventional bonds and sukuk, risk factors, and the issuance of different types of sukuk securities by country to give readers a deeper understanding of the markets. In 2010, the World Bank recommended sukuk as the best form of lending for growth in developing countries; since then, the value of new issues has grown at 45 percent per year. The market's present size is close to US $1,200 billion, with private markets in major financial centers like London, Zurich, and New York. This book provides comprehensive guidance toward understanding and using these instruments, and working within these markets. Get acquainted with the sukuk market, definitions, classification, and pricing Learn the different approaches to structuring and contract design Discover how sukuk is applied, including regulations, ratings, and securitization Examine payoff structures and suggested sukuk valuation in the context of Islamic finance principles With the sukuk market growing the way it is, regulators, investors, and students need to fully understand the mechanisms at work. Sukuk Securities is the complete guide to the sukuk markets, with expert insight. July 2014 saw the first sukuk listing in London. Hong Kong and Seoul have also entered this niche market. Predictions are that there will be continued high growth of sukuk debt markets around the world, all providing targeted funding via sukuk contracting modes.


Fundamentals Of Islamic Money And Capital Markets

Author by : Azmi Omar
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 89
Total Download : 134
File Size : 46,8 Mb
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Description : The first comprehensive guide to Islamic financial markets Based on the course taught at the International Islamic University Malaysia, this is the first book on Islamic finance to focus exclusively on money and capital markets. Covering basic concepts as well as current practices in Islamic financial markets, the book features case studies from real markets. It outlines the theory of money in terms of value, supply, and demand, while explaining the Islamic capital markets in terms of classifications, types of operations, valuations of securities, Islamic unit trust, ETFs, Islamic stock broking, and much more. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance The first guide to Islamic finance focused solely on money and capital markets An excellent introduction to money market principles for students in Islamic banking and finance, as well as researchers and current practitioners, Fundamentals of Islamic Money and Capital Markets is a vital resource on the subject.


Handbook Of Islamic Banking

Author by : Kabir Hassan
Languange : en
Publisher by : Edward Elgar Publishing
Format Available : PDF, ePub, Mobi
Total Read : 26
Total Download : 810
File Size : 40,6 Mb
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Description : The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field. From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.


Case Studies In Islamic Banking And Finance

Author by : Brian Kettell
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 85
Total Download : 295
File Size : 45,5 Mb
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Description : Case Studies in Islamic Banking and Finance is a pioneering resource that provides practical insights into the real world of Islamic financial transactions, and illustrates the complexities of this rapidly growing mode of modern finance. Based around 12 individual cases, the book stimulates discussion and develops the reader's understanding of Islamic finance by contrasting the theoretical concepts discussed in the author's companion text Introduction to Islamic Banking and Finance with practical real world situations. The cases cover core Islamic banking and finance topics including the Ijara, Mudaraba and Musharaka contracts; Islamic mortgages for home finance; leverage; and issues involved in opening an Islamic bank. Financial statement analysis for Islamic banks, the implications for fund management for equity investing and the impact of loan defaults on Islamic and conventional banks are also included. Each chapter concludes with a set of questions designed to test the reader's understanding of each case, with suggested solutions at the end of the book. This book is a must have resource for those wishing to apply their understanding of this complex subject and is an essential read for anyone seeking practical examples of how to apply the concepts in a real world environment.


The Foundations Of Islamic Economics And Banking

Author by : Abdulrahman Haitham Shoukat Kabbara
Languange : en
Publisher by : Partridge Publishing Singapore
Format Available : PDF, ePub, Mobi
Total Read : 26
Total Download : 799
File Size : 43,5 Mb
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Description : The first part of this book is designed to display the sources and principles of economics and trade transactions in the Islamic community. It analyzes the judicial injunctions against riba and proves that riba including interest is prohibited. Basing the argument on theoretical (Quran and Sunna) as well as the customary practice during the life of the messenger of God in Mekka and Al-Madina. Notably, the Islamic teachings covers both the worldly and religious affairs. This is a very revealing indication that “Islam” does not only regulate the relations of the human beings with God, but also extends to regulating (i) the relationship of the ruler with the ruled through “al-shura”, and (ii) economic and financial transactions in the market. Notable among these transactions: a) the abolition of riba and instigating interest-free economy, (b) providing the basic needs of society, (c) achieving social justice by applying zakat levy and other ordinances, and last but not least inheritance law and redistribution of State land for public benefits. The second and third part of the book explains and proves that prohibition of riba does not circumvent trade or paralyze the economy. On the contrary by eliminating injustice inherent in riba, the banking system will be liberated from discrepancies and the economy will perform more efficiently by mitigating the evils of riba.


Shari Ah Compliant Private Equity And Islamic Venture Capital

Author by : Fara Madehah Ahmad Farid
Languange : en
Publisher by : EUP
Format Available : PDF, ePub, Mobi
Total Read : 30
Total Download : 141
File Size : 43,7 Mb
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Description : The first guide to the application and operation of Shari'ah-based structures and Islamic venture capital. These case studies and examples of business financial appraisals give an in-depth view of areas including: the Islamic banking industry; its use as a source of funding in the biotechnology industry, pharmaceuticals, ICT, agriculture and fisheries; and how it is used by investment companies as part of their asset management strategies. Key features: Combines theory and practice to build a complete picture of the field. Gives an overview of the industry before focusing on key areas within it, such as profit sharing, valuation, risk mitigation, exit strategies, trust, monitoring methods and due diligence. Looks at private equity and venture capital in the MENA and ASEAN regions, the UK, Europe and the USA. Case studies are accompanied by questions for classroom discussion or assignments.


Globalization And Islamic Finance

Author by : Hossein Askari
Languange : en
Publisher by : John Wiley & Sons
Format Available : PDF, ePub, Mobi
Total Read : 19
Total Download : 555
File Size : 48,6 Mb
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Description : This is an extremely valuable book written by three highlyqualified scholars whose credentials for writing such a book aredifficult to match. The timing of the book is also perfect, havingcome at a time when the worst financial crisis in living memory hasintensified the quest for reform of the international architecture.The proposals made by the authors should go a long way in not onlyreforming the system but also in accelerating the move towardsfinancial globalization and convergence of the conventional andIslamic financial systems. Dr. Umer Chapra Prominent Scholar of Islamic Economics and currently ResearchAdvisor Islamic Research and Training Institute (IRTI), Islamic DevelopmentBank (IDB) Globalization and Islamic Finance, by threewell-respected authors in Islamic finance, provides athought-provoking analysis of an important and topical issue,particularly, given the global impact of the current financial andeconomic crises. The book is the first attempt to make a compellingcase of convergence between globalization and Islamic finance.Askari, Iqbal and Mirakhor should be praised for this seriouseffort, which is a must-read for academics and practitionersinterested in Islamic finance. Professor Rifaat Ahmed Abdel Karim Secretary General Islamic Financial Services Board (IFSB) This book has a robust discussion of the growth and spread ofIslamic finance within the umbrella of globalization. The bookprovides a unique view of Islamic finance, not only from theperspective of how Islamic finance fits within globalization ingeneral, but globalization of finance in particular. This is a mustread for anyone interested in the complex and complicated world ofIslamic finance. Scheherazade S. Rehman, Ph.D. Director, European Union Research Center Professor of International Finance, School of Business The George Washington University I have not come across any literature that has delved sointensely in financial globalization, in particular Islamicfinance. Due to this reason, I would encourage all interested inthis area to read this book. Hajah Salma Latiff Managing Director, Crescent Sdn. Bhd. Former Director, Centre for Islamic Banking, Finance and Management(CIBFM), Universiti Brunei Darussalam The recent crisis has evoked wide interest in Islamic financepublications. Globalization and Islamic Finance is bothtimely and needed. Sani Hamid Director, Wealth Management Financial Alliance (Singapore)


Islamic Corporate Finance

Author by : M. Kabir Hassan
Languange : en
Publisher by : Routledge
Format Available : PDF, ePub, Mobi
Total Read : 35
Total Download : 713
File Size : 51,9 Mb
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Description : Most existing texts covering topics in Islamic finance discuss the potential of Islamic banking; very few talk about other forms of financing and the investment activities of Islamic firms from the standpoint of owners and managers. This book fills this gap by looking at the traditional as well as non-traditional financing and investment activities of shariah-compliant companies. The chapters in this edited text offer a full range of topics on corporate finance for Islamic firms, including global comparisons of shariah screening, dividend policy and capital structure of Islamic firms, details of global Islamic equity markets, trends and performance of sukuk markets, and a brief account of derivative securities that can be used in Islamic finance. This is a useful reference for anyone who wishes to learn more about the performance of shariah-compliant companies vis-à-vis conventional firms. The book includes both technical and non-technical information that would be suitable for classroom teaching as well as a reference for postgraduate research students.


Partnership And Profit Sharing In Islamic Law

Author by : Muhammad Nejatullah Siddiqi
Languange : en
Publisher by : Unknown
Format Available : PDF, ePub, Mobi
Total Read : 48
Total Download : 373
File Size : 42,6 Mb
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Description : These principles governing participatory finance and joint ventures are derived from juristic sources - the four principal schools of Islamic law


Islamic Finance Instruments And Markets

Author by : Bloomsbury Publishing
Languange : en
Publisher by : A&C Black
Format Available : PDF, ePub, Mobi
Total Read : 29
Total Download : 581
File Size : 43,9 Mb
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Description : Islamic Finance: Instruments and Markets looks at the application of Sharia law to the world of banking and finance. It provides you with an understanding of the rationale behind the instruments and the rapidly developing Islamic financial markets. Coverage includes in-depth analysis of the financial instruments within the Sharia framework and how they are applied in various sectors including insurance, investment and capital markets. Regulatory issues are also discussed both from the role of the Sharia board to reporting financial risk to legal bodies. It addresses issues such as bringing a New Ethical Dimension to Banking through to The International Role of Islamic Finance and provides you with a range of checklists from Business Ethics in Islamic Finance to The Role of the Shariah Advisory Board in Islamic Finance and Regulatory and Capital Issues under Shariah Law.