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Showing results 743 to 762 of 1189
  • nature_money_modern_economy_implications_consequences_stephen_robert_mabid.pdf.jpg
  • Journal Article


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2016)

  • Reforming the contemporary monetary and financial system has come under the limelight with the onset of the last international financial crisis. Zarlenga and Poteat focus on the elimination of credit money and the return of the exclusive right of issuing money to the government as a key to reforming the system. In this comment, I argue that they are right, but reform should be wider and more comprehensive. My arguments are inspired by al-Jarhi's model of an Islamic monetary system (1981).

  • new_evidence_from_an_alternative_methodological_approach_mansur_et_al.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Masih, Rumi; Hasan, Mohammad S. (1997)

  • Proposes to re-examine empirically the causal relationship between defence spending and economic growth in mainland China. First, using a VAR modelling technique with suitable diagnostics, e.g. Akaike's FPE statistics and a likelihood ratio test for over and under-fitting the causal model, the results indicate a positive unidirectional causality flowing from defence spending to economic growth. Second, by evaluating a dynamic vector error correction model, variance decomposition and impulse response functions, then analyses the direction, duration and strength of Granger-causality between defence spending and economic growth. The results broadly indicate that defence spending and econ...

  • new_issues_islamic_finance_economics_progress_challenges_cover.jpg.jpg
  • Book


  • Authors: Askari, Hossein; Iqbal, Zamir; Mirakhor, Abbas (2009)

  • This book provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

  • item.jpg
  • Newsletter & Bulletin


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

  • This article discusses one of the myths and the new realities of risk sharing. The myth is that risk sharing contracts are costly and demand more information than debt based contracts. The reality is that risk sharing contracts are incentive-compatible contract because there is an incentive structure in place to elicit truth-telling, trust, cooperation, hard work, and efficiency in resource management; factors that could not be written into contracts and enforced. Hence, the contracts attenuate coordination problem and improve the efficiency of outcomes.

  • PhD_A_new_regulatory_model_for_liquidity_management_of_Islamic_banks_Habib_Dolgun.pdf.jpg
  • PhD


  • Authors: Dolgun, Muhammed Habib (2017)

  • The main objective of this dissertation is to critically examine the factors that affect liquidity risk management of Islamic banks and then to develop an alternative regulatory framework appropriate for liquidity management of these banks. While there are several studies on the performance, growth, and efficiency of Islamic banks, empirical studies from the regulatory and supervisory perspectives are very limited. Primarily, this dissertation seeks to fill this gap by examining liquidity risk management of ... Available in physical copy and downloadable format (Call Number: t HG 1656 A3 D664)

  • New_strategic_directions_to_be_formulated_for_Islamic_capital_market_development_in_Maldives_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Capital Market Development Authority (CMDA), the Maldivian regulatory authority for the Islamic capital market (ICM), has stared work to formulate the ICM Strategic plan 2015-20. The primary strategies formulated include: enhance the depth of Islamic capital market products and services, strenghten the Capital Market Shariah Advisory Committee.

  • item.jpg
  • PhD


  • Authors: Iskandar Mirza, Azrul Azlan (2015)

  • This research aims to look into nomination practice and its issue for Takaful operators and social Takaful (Takaful Ijtima'i) from Shariah perspective. The major issue is to what extent the Takaful benefit is the estate of participants. Various practices by Takaful operators has established few perspectives on the matter. By adopting the qualitative research method specifically through content analysis, this research will begin with the review on fundamental concepts of insurance and Takaful based on the opinions of scholars from various schools of jurisprudence ... Available in physical copy only (Call Number: t HG 8051 A997)

  • PhD_Non_intermediation_activities_and_impacts_on_bank_performance_Mohsin_Ali.pdf.jpg
  • PhD


  • Authors: Ali, Mohsin (2017)

  • In the wake of increasing competition and financial deregulation, the traditional intermediation activities have been declining as proportion of total banking activities. Banks are left with no choice but to be more creative to survive in the market place. Therefore, banks have been attempting to offset this decline in profits with income generated from non-traditional / non-intermediation activities. After the recent global crisis, both Islamic and conventional banks in OIC countries have also shifted their business focus. This invites a thorough investigation into the impact of non-intermediation activities on bank performance as well as on the economic growth and volatility. In the...

  • Nonfinancial_traits_and_financial_smartness_wajahat_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2018)

  • This paper examines the flow-performance relationship and the presence of "Smart money effect" in Socially responsible funds (SRFs) and Shariah compliant funds (SCFs). A survivorship bias free sample of 686 funds comprising of 212 SCFs and 474 SRFs were analysed with investment focus in the Asia pacific, Emerging markets, Europe, Global (with no focus to any specific country or region), Middle East and North Africa (MENA) and North America. The findings show that flow-performance relationship is asymmetric for both the funds as the response to positive returns is more as compare to the negative returns for the last/current year as well as the last/current month. There is also a signif...

  • item.jpg
  • Journal Article


  • Authors: Hasan, Zubair (2009)

  • The year 2008, recorded some elating developments in the area of Islamic finance worldwide. The size of Shari’ah compliant assets rose to around $500 billion. The market share of Islamic Financial Institutions stood, it is estimated, at 12 percent in Malaysia and at 17 percent in the GCC countries where it is currently expanding much faster than anywhere else. Some leading rating agencies believe that the market potential of Islamic financial services is a close to $4 trillion, of which no more than 10 percent has so far been realized (Al-Amine, 2008, p. 1). The current financial meltdown is diverting global attention to Islamic finance as a better and safer alternative. Thus, the fut...

  • oil_food_prices_malaysia_nonlinear_ardl_analysis_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2015)

  • The present paper analyses the relations between food and oil prices for Malaysia using a nonlinear autoregressive distributed lags (NARDL) model. The bounds test of the NARDL specification suggests the presence of cointegration among the variables, which include the food price, oil price and real GDP. The estimated NARDL model affirms the presence of asymmetries in the food price behavior. Namely, in the long run, we find a significant relation between oil price increases and food price. Meanwhile, the long run relation between oil price reduction and the food price is absent. Furthermore, in the short run, only changes in the positive oil price exert significant influences on the fo...

  • item.jpg
  • Master


  • Authors: Haidarah Taher, Sumaiyah Saleh (2016)

  • This paper analyses the relationship between oil price and bank performance in net oil exporting countries and non-net oil exporting countries. Using data on 74 Islamic banks consisting of 36 Islamic banks in net oil exporting countries and 38 Islamic banks in non-net oil exporting for a period of 2005-2015, we test the hypotheses of oil price direct and indirect effects on banks performance. Our results indicate that oil price has a significant negative direct and indirect effect on bank performance, through its bank-specific variables and macroeconomic variables in net oil exporting countries while, none was found in non-net oil exporting countries ... Kindly email to kmc@inceif...

  • oil_price_risk_in_selected_asean_market_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2014)

  • This paper analyzes the oil price risk in four ASEAN markets using a two-factor "market and oil" model and EGARCH(1, 1) variance specification. In the analysis, three alternative non-linear measures of oil prices are used and robustness check of basic results is also performed. The results suggest a direct relation between oil price changes and stock market returns and indicate no evidence for asymmetric oil price risk for Indonesia. Meanwhile, the asymmetric oil price risk seems apparent for the markets of Malaysia, Singapore and Thailand. For an oil exporting Malaysia, the oil price decline tends to compromise its market performance while the oil price increase does not seem to be b...

  • item.jpg
  • Master


  • Authors: Azzi, Abdelkebir (2017)

  • Oil prices in the global market is usually found to be correlated with the economic growth of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between oil prices and macroeconomic variables in the Moroccan economy. Using the Moroccan monthly data from 2007-2016 and the time series techniques such as co-integration, long run structural modelling, vector error correction, and variance decomposition, we found a significant statistical relationship existing between inflation, oil price, trade balance, interest rate, and economic growth, whereby oil price and interest rate are significant macroeconomic ... Available in physical c...

  • PhD_oil_revenue_financial_development_role_institutions_Ruslan_Nagayev.pdf.jpg
  • PhD


  • Authors: Nagayev, Ruslan (2017)

  • Almost every second barrel of oil is produced in the OIC region. It is expected that the influx of oil revenue will help in developing the financial markets and the economies of these countries. So, the accelerated growth of Islamic financial industry at a double-digit rate annually has been attributed to the liquidity generated from the oil production. However, the recent adverse shocks emanating from the international oil market (quadruple drop in oil price) have cast scepticism about the sustainability of financial sectors in OIC oil-producing countries in general and the growth of Islamic banking industry, in particular. Slumping oil prices are expected to reduce the liquidity ......

  • on_building_social_capital_islamic_finance_ng.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2015)

  • Purpose – The purpose of this paper is to set forth seven broad recommendations and 15 specific initiatives within a four-dimensional framework for the development of social capital in Islamic finance, particularly the stock market, given its role as the first best means of risk sharing. Design/methodology/approach – The four-dimensional framework comprises dimensions of principle and value, trust-reinforcing regulation, investment opportunity and infrastructure, as well as reputational intermediaries. Findings – A web of multi-pronged initiatives that are mutually reinforcing is proposed considering the multifaceted dimensions of social capital and the various possible transmission...

  • on_islamic_economic_abbas.pdf.jpg
  • Chapter in Book


  • Authors: Mirakhor, Abbas (2015)

  • Most people do not make a connection between the religion of Islam and the vital issues of economic and social development; andd when they do, it is often to disparage Islam as a hindrance, even a retrograde force, in the progress of Muslim societies. The attempts by Muslim social scientists and economists in the past decades to develop a coherent discipline of 'Islamic Economics' have not gone beyond the confines of the academic world, and with the limited exception of Islamic banking, have not had a serious impact on either policy planners or the general public. They have also failed, I believe, to make the case that Islam has something distinctive to offer to the resolution of the...

  • on_sukuk_insolvencies.pdf.jpg
  • Chapter in Book


  • Authors: Zada, Najeeb, Lahsasna, Achene & Saleem, Muhammad Yusuf (2016)

  • An effective and universally acceptable legal, regulatory, and insolvency framework for Islamic finance in general and sukuk in particular is currenly lacking. Of particular concern is the question of how a secular court may protect the rights of sukuk holders. East Cameron Partner (ECP) sukuk is an interesting case where many of issues in sukuk insolvencies have been highlighted. The current study is concerned with the background of ECP sukuk issuance, its insolvency, its filing for bankruptcy under Chapter 11 of the United States' Bankruptcy Code and the behaviour of the US bankruptcy court towards the issue of the ownership of the sukuk holders...

Browsing by Title

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 743 to 762 of 1189
  • nature_money_modern_economy_implications_consequences_stephen_robert_mabid.pdf.jpg
  • Journal Article


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2016)

  • Reforming the contemporary monetary and financial system has come under the limelight with the onset of the last international financial crisis. Zarlenga and Poteat focus on the elimination of credit money and the return of the exclusive right of issuing money to the government as a key to reforming the system. In this comment, I argue that they are right, but reform should be wider and more comprehensive. My arguments are inspired by al-Jarhi's model of an Islamic monetary system (1981).

  • new_evidence_from_an_alternative_methodological_approach_mansur_et_al.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; Masih, Rumi; Hasan, Mohammad S. (1997)

  • Proposes to re-examine empirically the causal relationship between defence spending and economic growth in mainland China. First, using a VAR modelling technique with suitable diagnostics, e.g. Akaike's FPE statistics and a likelihood ratio test for over and under-fitting the causal model, the results indicate a positive unidirectional causality flowing from defence spending to economic growth. Second, by evaluating a dynamic vector error correction model, variance decomposition and impulse response functions, then analyses the direction, duration and strength of Granger-causality between defence spending and economic growth. The results broadly indicate that defence spending and econ...

  • new_issues_islamic_finance_economics_progress_challenges_cover.jpg.jpg
  • Book


  • Authors: Askari, Hossein; Iqbal, Zamir; Mirakhor, Abbas (2009)

  • This book provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

  • item.jpg
  • Newsletter & Bulletin


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

  • This article discusses one of the myths and the new realities of risk sharing. The myth is that risk sharing contracts are costly and demand more information than debt based contracts. The reality is that risk sharing contracts are incentive-compatible contract because there is an incentive structure in place to elicit truth-telling, trust, cooperation, hard work, and efficiency in resource management; factors that could not be written into contracts and enforced. Hence, the contracts attenuate coordination problem and improve the efficiency of outcomes.

  • PhD_A_new_regulatory_model_for_liquidity_management_of_Islamic_banks_Habib_Dolgun.pdf.jpg
  • PhD


  • Authors: Dolgun, Muhammed Habib (2017)

  • The main objective of this dissertation is to critically examine the factors that affect liquidity risk management of Islamic banks and then to develop an alternative regulatory framework appropriate for liquidity management of these banks. While there are several studies on the performance, growth, and efficiency of Islamic banks, empirical studies from the regulatory and supervisory perspectives are very limited. Primarily, this dissertation seeks to fill this gap by examining liquidity risk management of ... Available in physical copy and downloadable format (Call Number: t HG 1656 A3 D664)

  • New_strategic_directions_to_be_formulated_for_Islamic_capital_market_development_in_Maldives_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Capital Market Development Authority (CMDA), the Maldivian regulatory authority for the Islamic capital market (ICM), has stared work to formulate the ICM Strategic plan 2015-20. The primary strategies formulated include: enhance the depth of Islamic capital market products and services, strenghten the Capital Market Shariah Advisory Committee.

  • item.jpg
  • PhD


  • Authors: Iskandar Mirza, Azrul Azlan (2015)

  • This research aims to look into nomination practice and its issue for Takaful operators and social Takaful (Takaful Ijtima'i) from Shariah perspective. The major issue is to what extent the Takaful benefit is the estate of participants. Various practices by Takaful operators has established few perspectives on the matter. By adopting the qualitative research method specifically through content analysis, this research will begin with the review on fundamental concepts of insurance and Takaful based on the opinions of scholars from various schools of jurisprudence ... Available in physical copy only (Call Number: t HG 8051 A997)

  • PhD_Non_intermediation_activities_and_impacts_on_bank_performance_Mohsin_Ali.pdf.jpg
  • PhD


  • Authors: Ali, Mohsin (2017)

  • In the wake of increasing competition and financial deregulation, the traditional intermediation activities have been declining as proportion of total banking activities. Banks are left with no choice but to be more creative to survive in the market place. Therefore, banks have been attempting to offset this decline in profits with income generated from non-traditional / non-intermediation activities. After the recent global crisis, both Islamic and conventional banks in OIC countries have also shifted their business focus. This invites a thorough investigation into the impact of non-intermediation activities on bank performance as well as on the economic growth and volatility. In the...

  • Nonfinancial_traits_and_financial_smartness_wajahat_shamsher_eskandar.pdf.jpg
  • Journal Article


  • Authors: Naeem Azmi, Choudhari Wajahat; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2018)

  • This paper examines the flow-performance relationship and the presence of "Smart money effect" in Socially responsible funds (SRFs) and Shariah compliant funds (SCFs). A survivorship bias free sample of 686 funds comprising of 212 SCFs and 474 SRFs were analysed with investment focus in the Asia pacific, Emerging markets, Europe, Global (with no focus to any specific country or region), Middle East and North Africa (MENA) and North America. The findings show that flow-performance relationship is asymmetric for both the funds as the response to positive returns is more as compare to the negative returns for the last/current year as well as the last/current month. There is also a signif...

  • item.jpg
  • Journal Article


  • Authors: Hasan, Zubair (2009)

  • The year 2008, recorded some elating developments in the area of Islamic finance worldwide. The size of Shari’ah compliant assets rose to around $500 billion. The market share of Islamic Financial Institutions stood, it is estimated, at 12 percent in Malaysia and at 17 percent in the GCC countries where it is currently expanding much faster than anywhere else. Some leading rating agencies believe that the market potential of Islamic financial services is a close to $4 trillion, of which no more than 10 percent has so far been realized (Al-Amine, 2008, p. 1). The current financial meltdown is diverting global attention to Islamic finance as a better and safer alternative. Thus, the fut...

  • oil_food_prices_malaysia_nonlinear_ardl_analysis_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2015)

  • The present paper analyses the relations between food and oil prices for Malaysia using a nonlinear autoregressive distributed lags (NARDL) model. The bounds test of the NARDL specification suggests the presence of cointegration among the variables, which include the food price, oil price and real GDP. The estimated NARDL model affirms the presence of asymmetries in the food price behavior. Namely, in the long run, we find a significant relation between oil price increases and food price. Meanwhile, the long run relation between oil price reduction and the food price is absent. Furthermore, in the short run, only changes in the positive oil price exert significant influences on the fo...

  • item.jpg
  • Master


  • Authors: Haidarah Taher, Sumaiyah Saleh (2016)

  • This paper analyses the relationship between oil price and bank performance in net oil exporting countries and non-net oil exporting countries. Using data on 74 Islamic banks consisting of 36 Islamic banks in net oil exporting countries and 38 Islamic banks in non-net oil exporting for a period of 2005-2015, we test the hypotheses of oil price direct and indirect effects on banks performance. Our results indicate that oil price has a significant negative direct and indirect effect on bank performance, through its bank-specific variables and macroeconomic variables in net oil exporting countries while, none was found in non-net oil exporting countries ... Kindly email to kmc@inceif...

  • oil_price_risk_in_selected_asean_market_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2014)

  • This paper analyzes the oil price risk in four ASEAN markets using a two-factor "market and oil" model and EGARCH(1, 1) variance specification. In the analysis, three alternative non-linear measures of oil prices are used and robustness check of basic results is also performed. The results suggest a direct relation between oil price changes and stock market returns and indicate no evidence for asymmetric oil price risk for Indonesia. Meanwhile, the asymmetric oil price risk seems apparent for the markets of Malaysia, Singapore and Thailand. For an oil exporting Malaysia, the oil price decline tends to compromise its market performance while the oil price increase does not seem to be b...

  • item.jpg
  • Master


  • Authors: Azzi, Abdelkebir (2017)

  • Oil prices in the global market is usually found to be correlated with the economic growth of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between oil prices and macroeconomic variables in the Moroccan economy. Using the Moroccan monthly data from 2007-2016 and the time series techniques such as co-integration, long run structural modelling, vector error correction, and variance decomposition, we found a significant statistical relationship existing between inflation, oil price, trade balance, interest rate, and economic growth, whereby oil price and interest rate are significant macroeconomic ... Available in physical c...

  • PhD_oil_revenue_financial_development_role_institutions_Ruslan_Nagayev.pdf.jpg
  • PhD


  • Authors: Nagayev, Ruslan (2017)

  • Almost every second barrel of oil is produced in the OIC region. It is expected that the influx of oil revenue will help in developing the financial markets and the economies of these countries. So, the accelerated growth of Islamic financial industry at a double-digit rate annually has been attributed to the liquidity generated from the oil production. However, the recent adverse shocks emanating from the international oil market (quadruple drop in oil price) have cast scepticism about the sustainability of financial sectors in OIC oil-producing countries in general and the growth of Islamic banking industry, in particular. Slumping oil prices are expected to reduce the liquidity ......

  • on_building_social_capital_islamic_finance_ng.pdf.jpg
  • Journal Article


  • Authors: Ng, Adam Boon Ka; Ibrahim, Mansor H.; Mirakhor, Abbas (2015)

  • Purpose – The purpose of this paper is to set forth seven broad recommendations and 15 specific initiatives within a four-dimensional framework for the development of social capital in Islamic finance, particularly the stock market, given its role as the first best means of risk sharing. Design/methodology/approach – The four-dimensional framework comprises dimensions of principle and value, trust-reinforcing regulation, investment opportunity and infrastructure, as well as reputational intermediaries. Findings – A web of multi-pronged initiatives that are mutually reinforcing is proposed considering the multifaceted dimensions of social capital and the various possible transmission...

  • on_islamic_economic_abbas.pdf.jpg
  • Chapter in Book


  • Authors: Mirakhor, Abbas (2015)

  • Most people do not make a connection between the religion of Islam and the vital issues of economic and social development; andd when they do, it is often to disparage Islam as a hindrance, even a retrograde force, in the progress of Muslim societies. The attempts by Muslim social scientists and economists in the past decades to develop a coherent discipline of 'Islamic Economics' have not gone beyond the confines of the academic world, and with the limited exception of Islamic banking, have not had a serious impact on either policy planners or the general public. They have also failed, I believe, to make the case that Islam has something distinctive to offer to the resolution of the...

  • on_sukuk_insolvencies.pdf.jpg
  • Chapter in Book


  • Authors: Zada, Najeeb, Lahsasna, Achene & Saleem, Muhammad Yusuf (2016)

  • An effective and universally acceptable legal, regulatory, and insolvency framework for Islamic finance in general and sukuk in particular is currenly lacking. Of particular concern is the question of how a secular court may protect the rights of sukuk holders. East Cameron Partner (ECP) sukuk is an interesting case where many of issues in sukuk insolvencies have been highlighted. The current study is concerned with the background of ECP sukuk issuance, its insolvency, its filing for bankruptcy under Chapter 11 of the United States' Bankruptcy Code and the behaviour of the US bankruptcy court towards the issue of the ownership of the sukuk holders...