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Author: Sabariah Nordin Publisher: UUM Press ISBN: 9670876737 Category : Business & Economics Languages : en Pages : 106
Book Description
The Islamic way of dealing with business transactions is unique. With the guidance from Syariah principles, Muslims are prohibited to engage in any activity which can cause harm to other traders or consumers. Nowadays, Islamic Finance is accepted and is gaining popularity in the financial market environment due to its success in attracting people, especially investors from the Gulf Countries. It is also due to the rising demand from Non-Muslim investors for ethical financing and investment. This change in the financial landscape led to the idea to write this book, which gives an in-depth insight into the basic idea or concepts used in Islamic finance. Although this book emphasizes on the application of Islamic finance in Malaysia, the underlying application is more or less the same for other countries adopting Islamic finance tools. This book is divided into five chapters. Chapter 1 looks at the overview of Islamic finance and banking. A thorough understanding of the function of money, capitalist economy and commonly used modes in Islamic finance and banking, such as Musyarakah, Mudharabah, Murabahah and Ijarah, are essential for understanding the other topics covered in this book. Chapter 2 provides an understanding on interest rates in the context of time value of money, price expectation and business cycles. Chapter 3 is on riba from an Islamic perspective; it looks at the definition of riba, the prohibition of riba, types and classification of riba and the difference between riba and profit. Chapter 4 focusses on the Islamic Capital Market, which includes Islamic Money Market, Islamic Banking and Islamic Insurance. The chapter shows the commonly used Islamic capital market instruments, such as Sukuk, Islamic Syariah Equity and Islamic Real Estate Investment Trust (REITs). Finally, Chapter 5 deals with Islamic Financial Institutions and Market Regulators which lay the foundation for and development of Islamic finance. These international bodies and regulators are the Islamic Financial Services Board (IFSB), International Islamic Financial Market (IIFM) and Accounting and Auditing Organization for Islamic Financial Institutions (AAOFI). The chapter also discusses regulators in Malaysia, such as Bank Negara Malaysia (BNM), Securities Commission (SC) and Labuan Financial Services Authority (FSA). In addition, this final chapter explains some laws in Malaysia which relate to Islamic Finance and Banking.
Author: Sabariah Nordin Publisher: UUM Press ISBN: 9670876737 Category : Business & Economics Languages : en Pages : 106
Book Description
The Islamic way of dealing with business transactions is unique. With the guidance from Syariah principles, Muslims are prohibited to engage in any activity which can cause harm to other traders or consumers. Nowadays, Islamic Finance is accepted and is gaining popularity in the financial market environment due to its success in attracting people, especially investors from the Gulf Countries. It is also due to the rising demand from Non-Muslim investors for ethical financing and investment. This change in the financial landscape led to the idea to write this book, which gives an in-depth insight into the basic idea or concepts used in Islamic finance. Although this book emphasizes on the application of Islamic finance in Malaysia, the underlying application is more or less the same for other countries adopting Islamic finance tools. This book is divided into five chapters. Chapter 1 looks at the overview of Islamic finance and banking. A thorough understanding of the function of money, capitalist economy and commonly used modes in Islamic finance and banking, such as Musyarakah, Mudharabah, Murabahah and Ijarah, are essential for understanding the other topics covered in this book. Chapter 2 provides an understanding on interest rates in the context of time value of money, price expectation and business cycles. Chapter 3 is on riba from an Islamic perspective; it looks at the definition of riba, the prohibition of riba, types and classification of riba and the difference between riba and profit. Chapter 4 focusses on the Islamic Capital Market, which includes Islamic Money Market, Islamic Banking and Islamic Insurance. The chapter shows the commonly used Islamic capital market instruments, such as Sukuk, Islamic Syariah Equity and Islamic Real Estate Investment Trust (REITs). Finally, Chapter 5 deals with Islamic Financial Institutions and Market Regulators which lay the foundation for and development of Islamic finance. These international bodies and regulators are the Islamic Financial Services Board (IFSB), International Islamic Financial Market (IIFM) and Accounting and Auditing Organization for Islamic Financial Institutions (AAOFI). The chapter also discusses regulators in Malaysia, such as Bank Negara Malaysia (BNM), Securities Commission (SC) and Labuan Financial Services Authority (FSA). In addition, this final chapter explains some laws in Malaysia which relate to Islamic Finance and Banking.
Author: Mondher Bellalah Publisher: Cambridge Scholars Publishing ISBN: 1443849995 Category : Business & Economics Languages : en Pages : 295
Book Description
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: Hans Visser Publisher: Edward Elgar Publishing ISBN: 1786433508 Category : Business & Economics Languages : en Pages : 296
Book Description
In this extensively updated third edition, Hans Visser explores the ideas and concepts that drive and shape Islamic finance. This incisive book reviews the products, institutions and markets offered by Islamic finance in the modern marketplace, offering a critical discussion of the ways in which fiscal and monetary policy can be adapted to Islamic financial institutions. Visser offers new directions for economics and finance students, as well as students of Islamic finance and Islam studies more broadly.
Author: Nafis Alam Publisher: Springer ISBN: 3319459104 Category : Business & Economics Languages : en Pages : 159
Book Description
This book focuses on current issues impacting the Islamic banking system globally. The contributions introduce readers to existing research and literature in the field and highlight areas of potential scholarly development within Islamic banking studies. The chapters are a variety of case studies, theoretical reviews, and empirical research within the world of Islamic banking. The contributions analyse new developments within Islamic banks from OIC member countries, Malaysia and the GCC. Particular attention is paid to the formative insolvency case of Arcapita Bank in chapter 6. Other chapters provide detailed discussion of the structures, marketing activities and products of Islamic banks, and contrast them with those of counterpart conventional banks. Through this edited collection, readers are given expert insight into contemporary, critical issues facing the growing sphere of Islamic banking.
Author: Azura Othman Publisher: Springer ISBN: 1137531592 Category : Business & Economics Languages : en Pages : 304
Book Description
This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah. It attempts to holistically analyze issues related to public finance, which has been criticized for lack of transparency and justice in wealth distribution. This book explores these criticisms and discusses the principles of Islamic finance that may be applied to macroeconomic policymaking to create a better economy overall. It presents a case for a flat tax system, to make the economy more resilient to shocks, and financing methods that limit interest-rate-based debt contracts and allow greater risk sharing among the market participants on a broad scale. Using both qualitative and quantitative methods, this book models the Malaysian economy based on policies that apply the fundamental Islamic finance principle of risk sharing to demonstrate its benefits in spurring growth, promoting distributive justice, rendering the economy more stable, strengthening the potency of monetary policy, enhancing fiscal governance, and improving financial inclusion. The book will be of interest to students, policymakers, financial institutions, researchers, ministries of finance, central banks, securities commissions, and anyone interested in alternative economic paradigms.
Author: Angelo M. Venardos Publisher: World Scientific ISBN: 9812833935 Category : Business & Economics Languages : en Pages : 328
Book Description
The phenomenal worldwide development over the past decade of Islamic banking and finance is drawing much attention to South East Asia, which, on the platform of its own economic growth success, is also proving to be the gateway for Middle Eastern petrodollar investments into the two great emerging markets of India and China. This book provides a timely examination of the issues confronting this US$300-US$500 billion market growing at 15 per cent - 20 per cent per annum, with reviews of the different financial markets, be they capital (sukuk), retail or wealth management.It further includes reviews from the various jurisdictions including Malaysia (the front-runner), Singapore (the regional financial hub), Brunei (an offshore Islamic market player) and the sleeping giant, Indonesia, as well as newly emerging participants such as Japan and the United States. Contributors, all well-known leading practitioners in their fields, range from lawyers, accountants, bankers and educators to policy advisors, and come from institutions like CIMB, Kuwait Finance House, OCBC Bank and PricewaterhouseCoopers, among others.This book, the first of its kind, will be of great benefit to those seeking to better understand current developments and issues affecting Islamic banking in South East Asia, from both global and regional perspectives.
Author: Abdullah, Daud Vicary Publisher: Marshall Cavendish International Asia Pte Ltd ISBN: 9814516821 Category : Business & Economics Languages : en Pages : 216
Book 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.
Author: Angelo M. Venardos Publisher: World Scientific ISBN: 9812568883 Category : Business & Economics Languages : en Pages : 259
Book Description
To truly understand the current interest in the development of Islamic banking and finance in South-East Asia and how it is different from the conventional banking system, one must first understand the religious relationship originating from the Qur'an, and then trace the historical geographic and political developments of Islam over recent centuries. Only on this basis can the reader, without prejudice or cynicism, begin to appreciate Shari'ah law and Islamic jurisprudence. With this platform established in the first part of the book, readers are invited to learn about the financial products and services offered, understand the challenges in their development, and ultimately recognize the significant opportunities that Islamic banking and finance can provide both Muslims and non-Muslims.This second edition contains updates of statistics and dates with regards to the development of Islamic banking in Malaysia, Singapore, Indonesia and Brunei. In particular, the chapter on Singapore details significant developments such as the direction which major banks are taking towards Islamic banking and the increase in Islamic banking products being offered.Although written by a non-Muslim author, this highly-regarded book is being translated into Arabic by a leading Islamic university in the Middle East.
Author: Kabir Hassan Publisher: Edward Elgar Publishing ISBN: 9781847205414 Category : Business & Economics Languages : en Pages : 472
Book 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.
Author: Fouad H. Beseiso Publisher: Emerald Group Publishing ISBN: 1783508183 Category : Business & Economics Languages : en Pages : 227
Book Description
This volume highlights a vital developmental stage of Islamic Banking and Finance, focusing on regulatory aspects, regional case studies and International Financial Crisis impacts. It aims to help decision makers identify key factors for the real, sustained development of the Islamic Banking System, nationally, regionally and internationally.
Author: Sabariah Nordin
Author: Sabariah Nordin
Author: Mondher Bellalah
Author: Hans Visser
Author: Nafis Alam
Author: Azura Othman
Author: Angelo M. Venardos
Author: Abdullah, Daud Vicary
Author: Angelo M. Venardos
Author: Kabir Hassan
Author: Fouad H. Beseiso