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Author : Ibrahim Warde
Publisher : Edinburgh University Press
Page : 289 pages
File Size : 16,13 MB
Release : 2014-03-11
Category : Religion
ISBN : 0748696474
A second edition of Islamic Finance in the Global Economy, substantially revised and updated to take into account the recent developments in the field.
Author : Gairuzazmi M Ghani
Publisher :
Page : 0 pages
File Size : 22,67 MB
Release : 2019
Category :
ISBN :
Many Muslims are marginalized from the global economy because mainstream interest-based financial system is in conflict with the principles of sharÊÑah (Islamic law). To address the issue, IBF has developed which offer instruments that are compliant with sharÊÑah. The ultimate objective of IBF is to promote Islamic norms of economic behavior, and ultimately to realise the maqÉsid of sharÊÑah in creating a just economic system thru the elimination of ribÉ'. The PLS instruments employed by IBF institutions, such as muÌārabah, are considered the ideal mode of Islamic finance. In contrast to conventional interest-based finance, PLS instruments counter unequal distributions of income and wealth, leading to an optimal allocation of resources. PLS instruments ensure justice in the relationships between the parties involved, as returns to the bank are dependent on the operational results of entrepreneurs.The growth of IBF institutions has been phenomenal since their introduction in the 1960s. The expansion has been especially pronounced in the 1970s and since the late 1990s. The upsurge of IBF in the 1970s was driven by oil price rises, competition for regional power between Egypt and Saudi Arabia, and a general Islamic resurgence. The second upsurge has involved similar drivers, but with the added benefit of standardized regulation and management, as well as improved overall business decision-making. The aftermath of 11 September 2001 reinforced the second surge in Islamic finance. The sense that Islam was under siege strengthened the quest for common ground in the operations of IBF institutions. Divergent interpretations of the sharÊÑah had previously divided the industry.
Author : Zamir Iqbal
Publisher : World Bank Publications
Page : 376 pages
File Size : 43,53 MB
Release : 2013-08-05
Category : Business & Economics
ISBN : 0821399535
Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth.
Author : Amr Mohamed El Tiby Ahmed
Publisher : John Wiley & Sons
Page : 166 pages
File Size : 16,27 MB
Release : 2010-11-17
Category : Business & Economics
ISBN : 047093011X
A detailed look at the fast-growing field of Islamic finance and banking The guiding principle of Islamic finance has existed throughout Islamic history, yet modern Islamic banking has been around for a relatively short period of time. Author Amr Mohamed El Tiby is an expert in this field, and with this new book, he reveals how you can benefit from the use of Islamic banking strategies in your financial endeavors. Engaging and accessible, Islamic Banking shows the impact this approach has made on conventional banking since the 1950s, and why it's such a big player in the current market. It offers a unique look at various aspects of this field, including the salient features of Islamic banking that distinguishes it from non-Islamic banking, the development of the regulatory bodies and supervisory agencies that support the Islamic banking system, and much more. It also explores the nature of risk in Islamic banking and the issues of capital adequacy, corporate governance, transparency, and risk associated with Islamic banking. Discusses the history and development of Islamic finance Offers straightforward strategies for implementing Islamic finance into your business activities Sheds light on the effect of the global economic crisis on Islamic banks versus conventional banks Filled with in-depth insights and expert advice, this detailed analysis of Islamic finance will help you gain a firm understanding of how effective this proven approach can be.
Author : Hussein Elasrag
Publisher : Hussein Elasrag
Page : 122 pages
File Size : 39,11 MB
Release : 2018-02-08
Category : Business & Economics
ISBN : 8827566910
The world economy is still suffering the crisis, considered the most severe since the Great Depression, where economic downturn at historic magnitude and many countries across the globe, irrespective of their development level, are still under strain dealing with this crisis.This book tries to note the main causes and the impacts of the current financial and economic crisis. In addition to discuss the belief that the Islamic Finance and its prospective is a viable alternative to the ailing global financial system
Author : Mondher Bellalah
Publisher : Cambridge Scholars Publishing
Page : 295 pages
File Size : 23,12 MB
Release : 2013-07-16
Category : Business & Economics
ISBN : 1443849995
Islamic finance is founded on principles that constitute the guidelines governing any Islamic economic or financial dealings. Innovative financial engineering today constitutes one of the most critical needs of Islamic financial institutions. It represents the forces that will drive Islamic finance toward continuous growth and efficiency. The structuring of new financing and Shariah-complaint instruments plays an important role in the enhancement of Islamic financial markets, and Islamic risk management practices, combining basic Shariah-complaint financial instruments within Shariah structures to precise identified needs. The financial engineering process in Islamic finance is a process that is very sensitive and complex. It requires multidisciplinary considerations, involving deep knowledge of finance, economy, Shariah law and commercial law. Divergence of opinions among different Shariah scholars and boards, as well as the absence or lack of effectiveness of a central regulatory body, is perceived as an obstacle to the growth of investment confidence in Islamic finance. Hence, innovation, along with greater uniformity, is essential to make Islamic finance an international financial system and to attract a greater number of customers. This book addresses the main issues of concern within Islamic banking, namely the development of conceptual framework, the viability of interest-free banking, and the assessment of its performance and future. In a world where conventional interest-based finance is the dominant framework, Islamic banking faces many challenges that must be addressed. This book discusses these issues and challenges and will be of great interest to both researchers and practitioners. It analyses the past experiences of Islamic banks worldwide, and provides an objective assessment of their successes and failures.
Author : Brian Kettell
Publisher : John Wiley & Sons
Page : 193 pages
File Size : 15,83 MB
Release : 2011-08-15
Category : Business & Economics
ISBN : 047097804X
Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from conventional banking. This detailed book illustrates how Islamic banking is consistent with the Sharia'a, a key element of which is the prohibition on collecting and paying interest. This central religious precept appears to rule out most aspects of modern finance but it does allow money to be used for trading tangible assets and business, which can then generate a profit. Brian Kettell's book looks at all aspects of Islamic banking, including chapters on its creation and evolution through to detailed discussions of the issues involved in the Sharia'a contracts of Murabaha, Mudaraba, Musharaka, Ijara, Istisna'a, and Salam. Islamic insurance (Takaful) is also covered. Finally the book takes a look at Sharia'a law and Sharia'a boards, indicating the roles and responsibilities that come with membership. Islamic banks have been operating in places such as Bahrain, Saudi Arabia, Malaysia and Dubai for some time. Conventional bankers have traditionally viewed the sector as a small, exotic niche but recent years have seen a dramatic surge in popularity. A number of Western investment banks have started working with Muslim clerics to create new ranges of financial products designed for devout Muslims, a large and growing market. Although estimates of the size of the Islamic finance industry vary greatly, everyone agrees that it is expanding rapidly and this is the perfect book for anyone looking to understand the industry.
Author : Brian Kettell
Publisher : John Wiley & Sons
Page : 370 pages
File Size : 23,39 MB
Release : 2011-10-20
Category : Business & Economics
ISBN : 0470710039
The recent turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance, which has so far remained on the sidelines of the unrest. Islamic Finance in a Nutshell is a quick and easy guide to understanding the fundamentals of Islamic Finance and how the Islamic Financial markets work. Designed as a quick read for practitioners needing to pick up the basics of the industry, it will enable readers to understand the differences Islamic and Western finance. Starting with the rise of Islamic finance, the book highlights the key areas which practitioners need to grasp to understand the marketplace including financial statement analysis, Sharia’a law, making money in the absence of interest and regulation. The book also provides readers with a basic guide to Arab terminology and a guide to the top financial institutions within the Islamic markets. This is an ideal guide for anyone with an interest in how these financial markets work, but who do not want to be bogged down in complex and unnecessary terminology.
Author : M. Kabir Hassan
Publisher : Emerald Group Publishing
Page : 328 pages
File Size : 42,9 MB
Release : 2022-01-20
Category : Business & Economics
ISBN : 1800716257
In Towards a Post-Covid Global Financial System a team of experts explore how COVID-19 has affected the most vulnerable parts of the global economy; how it has been met by Islamic banking and finance; and how the principles of Islamic social finance could be used to have a fairer, more resilient Islamic finance system for all.
Author : REDmoney
Publisher : John Wiley & Sons
Page : 578 pages
File Size : 37,93 MB
Release : 2014-04-07
Category : Business & Economics
ISBN : 1118814436
Get up to speed quickly on the world's fastest growing financial sector The Islamic Finance Handbook: A Practitioner's Guide to the Global Markets is the definitive report for the Islamic finance industry. Written by the industry's leading practitioners, the book provides a country-by-country breakdown of the current state of the Islamic market, including league tables by region and by country. Relevant case studies are used throughout to illustrate the practical aspect of the information presented. Organized for easy navigation, each chapter features sub-sections that allow instant comparison between countries in a specific area of interest. The Islamic finance industry is the world's fastest growing sector, valued at over U.S. $1.3 trillion by the UK Islamic Finance secretariat, with an annual growth of 24% for the past five years. To compete globally, practitioners need a true understanding of key markets within the industry. The Islamic Finance Handbook paints a clear picture of where each country stands in its development and role within the market, and provides a straightforward comparison between markets. Features include: Current macroeconomic and microeconomic conditions Regulatory and political situations Recent transactions, key participants, and the investor climate Real-world cases, as opposed to speculative scenarios The book places a clear focus on current conditions versus past performance, and on practical applications versus theoretical speculation. Each chapter is authored by a leading practitioner from within each country, allowing a true glimpse inside the day-to-day workings of the Islamic markets. For finance professionals who need to get up to speed on this rapidly growing sector, The Islamic Finance Handbook: A Practitioner's Guide to the Global Markets is a clear, comprehensive guide.