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Author: Syed Adam Alhabshi Publisher: Walter de Gruyter GmbH & Co KG ISBN: 3110562758 Category : Business & Economics Languages : en Pages : 192
Book Description
Risk-sharing investment is currently the buzz word in Islamic finance. However, there is an incongruence in applying multilayered and opaque Tijarah contracts for investment purposes. This has contributed to the divergence between Shariah and Common Law and caused tremendous problems and systemic legal risks to Islamic finance. The authors of Shariah Investment Agreement introduce a legal tool in the form of a Shariah Investment Agreement carefully drafted to ensure that it is Shariah-compliant and can be applied in Common Law jurisdictions as well, so as to allow for the execution of risk-sharing investment in Islamic finance. It details the building blocks and key considerations that must be noted when drafting such agreements so the investor and investee will know what to expect when entering into such a contract. Proper implementation of the Shariah Investment Agreement will pave a clear route to a harmonious convergence between Shariah and Common Law and lead to Islamic finance developing further to become a stronger, unstoppable force in the finance industry.
Author: Syed Adam Alhabshi Publisher: Walter de Gruyter GmbH & Co KG ISBN: 3110562758 Category : Business & Economics Languages : en Pages : 192
Book Description
Risk-sharing investment is currently the buzz word in Islamic finance. However, there is an incongruence in applying multilayered and opaque Tijarah contracts for investment purposes. This has contributed to the divergence between Shariah and Common Law and caused tremendous problems and systemic legal risks to Islamic finance. The authors of Shariah Investment Agreement introduce a legal tool in the form of a Shariah Investment Agreement carefully drafted to ensure that it is Shariah-compliant and can be applied in Common Law jurisdictions as well, so as to allow for the execution of risk-sharing investment in Islamic finance. It details the building blocks and key considerations that must be noted when drafting such agreements so the investor and investee will know what to expect when entering into such a contract. Proper implementation of the Shariah Investment Agreement will pave a clear route to a harmonious convergence between Shariah and Common Law and lead to Islamic finance developing further to become a stronger, unstoppable force in the finance industry.
Author: David Price Publisher: Taylor & Francis ISBN: 1040030793 Category : Law Languages : en Pages : 218
Book Description
This book examines the international investment agreements and the dispute settlement mechanisms contained therein, which bind the Gulf Cooperation Council member States. The Gulf Cooperation Council (GCC), comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, is complex and unique. Recently, all member States have experienced increasing investor–state arbitration claims, while their nationals are increasingly instituting investor–state arbitrations to protect their own foreign investments. Intra-GCC disputes, though relatively rare, have also appeared, largely as a result of the recent Gulf crisis. While focussing particularly upon the investor–state dispute settlement experience of member States as respondents, the book also explores the experiences of their nationals as claimants to determine how they can approach investor– state dispute settlement in the future. The book also reflects on existing treaty-making practices, making recommendations for regional-level dispute settlement to improve upon investor–state dispute settlement outcomes. This book provides a detailed analysis of the global investor–state dispute settlement regime and international investment agreements, and it will be of interest to students, academics, and practitioners with an interest in international investment law and arbitration.
Author: MONZER KAHF Publisher: Al Manhal ISBN: Category : Business & Economics Languages : en Pages : 508
Book Description
This book deals with an old subject, Islamic Finance contracts. Yet, it is very new and unique in its approach, ideas and arguments. The book classifies Islamic finance contracts in three categories; the first category consists of seven classical finance contracts whose details are given in the classical writings of Islamic jurisprudence (Fiqh), although in no other Fiqh publication these contracts are depicted and distinguished as specifically financing contracts. The second category consists of what I call traditional hybrid Islamic contracts which came about as a result of the 1970s startup stage of Islamic banking and the search of Shariah compliant contracts which fit a process of financial intermediation. The third category consists of Islamic finance contracts which came about during the takeoff and open expansion stage of Islamic banking especially in the first decade of the new millennium. The uniqueness of the book comes from its approach of blending the legal description, conditions and requirements of each Islamic Finance contract with the economic and financial circumstances within which the contract fits and also from the emphasis on the financial consequences of each of the Islamic finance contracts. The book is also unique in bringing about comparison with contracts used in the conventional Western style finance transactions. It is an attempt of formulating the main elements of a general theory of Islamic finance which is internally coherent and also consistent with other components of Islamic economics. Descriptor(s): ISLAMIC ECONOMICS | FINANCING | CONTRACTS | TRANSACTIONS (ISLAMIC JURISPRUDENCE) | SILENT PARTNERSHIP | OWNERSHIP | INVESTMENTS | PROFITS | ISLAMIC BANKS
Author: Mr.Mumtaz Hussain Publisher: International Monetary Fund ISBN: 1513565621 Category : Business & Economics Languages : en Pages : 35
Book Description
Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.
Author: John A. Sandwick Publisher: Edward Elgar Publishing ISBN: 1800378408 Category : Business & Economics Languages : en Pages : 224
Book Description
This original book examines how investment theory and regulatory constraints are linked to the professional processes of portfolio investments, and how the principles of Islam as defined by sharia fit into these processes. It also explores the measures required to create and grow a global Islamic asset management industry.
Author: Mahmoud A. El-Gamal Publisher: Cambridge University Press ISBN: 1139457160 Category : Business & Economics Languages : en Pages : 239
Book Description
This book provides an overview of the practice of Islamic finance and the historical roots that define its modes of operation. The focus of the book is analytical and forward-looking. It shows that Islamic finance exists mainly as a form of rent-seeking legal-arbitrage. In every aspect of finance - from personal loans to investment banking, and from market structure to corporate governance - Islamic finance aims to replicate in Islamic forms the substantive functions of contemporary financial instruments, markets, and institutions. By attempting to replicate the substance of contemporary financial practice using pre-modern contract forms, Islamic finance has arguably failed to serve the objectives of Islamic law. This book proposes refocusing Islamic finance on substance rather than form. This approach would entail abandoning the paradigm of 'Islamization' of every financial practice. It would also entail reorienting the brand-name of Islamic finance to emphasize issues of community banking, micro-finance, and socially responsible investment.
Author: Andreas Jobst Publisher: International Monetary Fund ISBN: 1463948298 Category : Business & Economics Languages : en Pages : 33
Book Description
Derivatives are few and far between in countries where the compatibility of financial transactions with Islamic law requires the development of shari'ah-compliant structures. Islamic finance is governed by the shari'ah, which bans speculation and gambling, and stipulates that income must be derived as profits from the shared generation of goods and services between counterparties rather than interest or a guaranteed return. The paper explains the fundamental legal principles underpinning Islamic finance with a view towards developing a cohesive theory of derivatives subject to shari'ahprinciples. After critically reviewing accepted contracts and the scholastic debate surrounding existing financial innovation in this area, the paper offers an axiomatic perspective on a principle-based permissibility of derivatives under Islamic law.
Author: Mr.Luca Errico Publisher: International Monetary Fund ISBN: 1451980418 Category : Business & Economics Languages : en Pages : 33
Book Description
This paper analyzes the implications of Islamic precepts on banks’ structure and activities, focusing on banking supervision issues. It points out and discusses these issues in the context of a paradigm version of Islamic banking, as well as in frameworks that fall between the paradigm version and conventional banking. The case of Islamic banks operating in a conventional system is also examined.
Author: Malaysia. Suruhanjaya Sekuriti Publisher: ISBN: 9789835371127 Category : Capital market Languages : en Pages : 0
Book Description
Islamic Capital Market is a series of six titles endorsed by the Securities Commission Malaysia and published by LexisNexis. The publication of the books is in response to the expanding role of Islamic capital market, resulting from the phenomenal growth of Islamic capital market globally. The six titles provide an understanding of the basic concepts of Islamic capital market, its features and philosophy, the applicable regulatory principles, legal and accounting frameworks, important challenges, key trends, fundamentals and the governing principles of Islamic commercial law (Fiqh al-muamalat), as well as the distinctive features and structures of Islamic equities and Islamic securities (sukuk).It is an excellent reference for professionals in both Islamic and conventional capital markets. Anyone aspiring to become a practitioner or be engaged in the Islamic capital market will find these books useful as reference materials. The six titles in the Islamic Capital Market series are:(1) Introduction to Islamic Capital Market(2) Islamic Commercial Law (Fiqh al-Muamalat) (3) Regulatory Requirements, Legal Documentation, Accounting, Auditing and Taxation in the Islamic Capital Market (4) Islamic Equity Market(5) Islamic Securities (Sukuk) Market(6) Valuation of Securities
Author: Syed Adam Alhabshi
Author: Syed Adam Alhabshi
Author: David Price
Author: MONZER KAHF
Author: John R. Dewar
Author: Mr.Mumtaz Hussain
Author: John A. Sandwick
Author: Mahmoud A. El-Gamal
Author: Andreas Jobst
Author: Mr.Luca Errico
Author: Malaysia. Suruhanjaya Sekuriti