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  • statistical_field_theory_of_futures_commodity_prices_Belal_Miao.pdf.jpg
  • Journal Article


  • Authors : Baaquie, Belal E.; Miao, Yu (2018)

  • The statistical theory of commodity prices has been formulated by Baaquie (2013). Further empirical studies of single (Baaquie et al., 2015) and multiple commodity prices (Baaquie et al., 2016) have provided strong evidence in support the primary assumptions of the statistical formulation. In this paper, the model for spot prices (Baaquie, 2013) is extended to model futures commodity prices using a statistical field theory of futures commodity prices. The futures prices are modeled as a two dimensional statistical field and a nonlinear Lagrangian is postulated. Empirical studies provide clear evidence in support of the model, with many nontrivial features of the model finding unexpec...

  • Waqf_shares_a_fundraising_scheme_for_community_development_projects_and_humanitarian_magda.PDF.jpg
  • Industry Article


  • Authors : Ismail Abdel Mohsin, Magda (2018)

  • The waqf-share scheme is a 21st century Islamic social finance tool that has been used successfully in Muslim and Muslim-minority countries (Cizakca, 2000). It is a fundraising scheme organized by a charitable institution that issues "waqf-shares" for sale to different contributors for various projects. Since a waqf-share is a movable waqf, it has to follow the strict conditions of waqf in terms of its irrevocability, its inalienability, and its perpetuity. This means that contributors cannot sell or transfer their waqf shares; they can only receive and hold a waqf-share certificate as evidence of theircontributions to the project if the created waqf is public waqf.

  • risky_forward_interest_rates_and_swaptions_Belal_Miao_Jitendra.pdf.jpg
  • Journal Article


  • Authors : Baaquie, Belal E.; Miao, Yu; Bhanap, Jitendra (2018)

  • Risk free forward interest rates (Diebold and Li, 2006 [1]; Jamshidian, 1991 [2]) and their realization by US Treasury bonds as the leading exemplar have been studied extensively. In Baaquie (2010), models of risk free bonds and their forward interest rates based on the quantum field theoretic formulation of the risk free forward interest rates have been discussed, including the empirical evidence supporting these models. The quantum finance formulation of risk free forward interest rates is extended to the case of risky forward interest rates. The examples of the Singapore and Malaysian forward interest rates are used as specific cases. The main feature of the quantum finance model i...

  • seeking_specific_relies_in_cases_of_Islamic_banking_in_Malaysia_an_analysis _aishath.pdf.jpg
  • Journal Article


  • Authors : Muneeza, Aishath (2018)

  • Islamic Banking is a concept that has a universal meaning to it in the world today. However, though the meaning of it is uniform and the lex loci applicable to it is same, the substantive and the procedural laws operating in the respective jurisdictions where it works is still applicable to it. As such, though in the product offering stage and the documentation signing stage, Shari'ah compliance certainty can be easily assured, in the dispute resolution stage especially in the case of litigation, it is impossible to restrict the courts applying only Shar??ah which is often unwritten laws of the countries.

  • Islamic_economics_and_Islamic_finance_in_the_world_economy_mansor_nafis.pdf.jpg
  • Journal Article


  • Authors : Ibrahim, Mansor H.; Alam, Nafis (2018)

  • This paper places the articles in this special issue in the contexts of Islamic economics and finance research. It highlights the foundations of Islamic economics, which are in practice manifested in Islamic finance. Then, the paper brings up three key issues in Islamic finance today: the Islamicity of Islamic banking, real contributions of Islamic finance, and Islamic finance in the present monetary framework. While there are some promising theoretical and empirical findings pointing to positive contributions of Islamic finance, there is still a need for Islamic finance to distinguish itself from the conventional finance and to further demonstrate its real effect

  • establishment_of_Islamic_capital_market_in_jurisdictions_with_limited_Islamic_financial_services_aishath.pdf.jpg
  • Journal Article


  • Authors : Muneeza, Aishath (2018)

  • It is said that to establish an Islamic Capital Market, the first step would be to have a strong Islamic finance industry with numerous institutions offering Islamic financial services. This way it is easy to know that the demand for Islamic capital market would be there and that market will be sophisticated enough to comprehensive the nature of shariah compliant products. Generally, in most of the jurisdictions this is how the Islamic capital market is created. This paper will look at the establishment of Islamic capital market in Maldives, small island nation where the establishment of Islamic capital market happened when at a time there was only one takaful company and one Islamic ...

  • Maldives_hub_Islamic_finance_south_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors : Muneeza, Aishath (2018)

  • Maldives is a hundred percent Muslim country with a population of less than four hundred thousand. The country has a unique geography as it consists of 1,190 islands scattered in the Indian ocean. According to Article 2 of the Constitution of Maldives, Maldives is a sovereign, independent, democratic Republic based on the principles of Islam, and is a unitary State, to be known as the Republic of Maldives. According to Article 9 (d) of the Constitution of Maldives, a non-Muslim will not become a citizen of Maldives even if the person fulfills all the conditions to become a citizen of Maldives as prescribed in the Constitution. Article 10 of the Constitution states that the religion of...

  • 270317 - ISLAMIC FINANCE, DEVELOPMENT & GROWTH.pdf.jpg
  • Academic Presentation


  • Authors : Alhabshi, Syed Othman (2017-03-27)

  • The slides "Islamic finance in Malaysia: development and growth" presented by Prof. Datuk Dr. Syed Othman Alhabshi to the Delegates from Ministry of Finance, Ghana, at INCEIF.

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  • Chapter in Book


  • Authors : Abdul Hamid, Baharom; Ali, Mohsin; Naeem Azmi, Choudhari Wajahat; Anwer, Zaheer (2017)

  • The primary goal of this paper is to explore the viability of initiating Islamic finance (IF) in an unchartered economy. Canada is taken as a case study for this paper. To achieve our objective, we proceed in two stages. The first stage involves the analysis of market opportunities for IF. More precisely, the first stage involves the cost/benefit analysis which would enable the IF industry to see whether it is feasible for them to initiate. Second, the more challenging stage involves the analysis with regard to the barriers in offering IF products. Available in e-book only (Call Number: HG 3368 A6 D489 2017 ebk)

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  • Chapter in Book


  • Authors : Chowdhury, Mohammad Ashraful Ferdous; Mohd Rasid, Mohamed Eskandar Shah (2017)

  • The main objective of this study is to identify the main determinants of the Islamic banks' performance in Gulf Cooperation Council (GCC) regions. The research uses both static model (fixed effects and random effects) and Generalized method of Moments (GMM). The data for this study are obtained from the annual reports of 29 Islamic banks from GCC countries using Bankscope database for the period from 2005 to 2013. The empirical findings reveal that Islamic banks' specific factors such as the equity financing and bank size are positive and statistically significant to the profitability of Islamic banks. The operating efficiency ratio is negatively and statistically significant to retur...

  • marketing_effectiveness_Islamic_conventional_banks.pdf.jpg
  • Chapter in Book


  • Authors : Abdul Hamid, Baharom; Najibullah, Syed; Habibullah, Muzafar Shah (2017)

  • The study aims to address marketing effectiveness of both Islamic banks and conventional banks (CBs) by using a modified "chain-of-effect" framework. Against current literature, which is based on customer surveys, reports do not include marketing activities by the Islamic banks (IB); this study adopts a bank perspective to explore the IB's behavior in this regard. Applying fixed-effect panel regression on the quarterly data of five IBs and five CBs in Malaysia, the study aims to explore the influence of marketing efforts on performance... Available in physical copy only (Call Number: HG 3368 A6 I82Na)

  • Comment_on_labour_regulations_employment_Mohamed Ariff.pdf.jpg
  • Journal Article


  • Authors : Abdul Kareem, Mohamed Ariff (2017)

  • Based on solid research, Hasan et al. (2017) has an interesting insight to share about India's apparel sector. Notwithstanding the fact that India is among the largest producers and exporters of apparel products, the study suggests that the main reason why the sector has not been up to its potential lies in the firm size distribution which is heavily dominated by small firms. Hasan et al. argue that small firms suffer from a serious lack of scale economies which deprives them of access to modern production and management technologies, and attribute it largely to India's labor regulations and enforcement regime.

  • PhD_Determinants_of_perceptions_of_Islamic_banks_performance_Ahmed_Abdelgadir.pdf.jpg
  • PhD


  • Authors : Elobeid Mohamed, Ahmed Abdelgadir (2017)

  • This imbalance nature of Islamic bank's performance is of great concern, which motivates this research, which is to examine the determinants of the imbalance of the imbalance nature of Islamic banks' performance in Sudan. In doing so, it seeks to fulfill three main objectives, namely examining the imbalance nature of Islamic banks' performance in Sudan, examining the awareness of the policy makers and the Islamic banks' managers to this imbalance nature, and to investigate its determinants ... Available in physical copy and downloadable format (Call Number: t HG 3393 E48)

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  • Academic Presentation


  • Authors : Ng, Adam Boon Ka; Dewandaru, Ginanjar (2017)

  • The slides highlight: 1) enhancing responsible business and sustainability practices; 2) enhancing positive impact while minimizing negative impact; 3) incorporating sustainability demands big data and robust research methodology.

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  • Academic Presentation


  • Authors : Ismail Abdel Mohsin, Magda (2017)

  • The slides highlight: 1) definition of waqf; 2) current scenation of waqf; 3) transforming old waqf properties into productive waqf.