Browsing by Topic Islamic capital markets

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Showing results 60 to 69 of 151
  • IB1006_islamic capital markets.pdf.jpg
  • Book


  • Authors: Bacha, Obiyathulla Ismath (2011)

  • This guide provides an overview of capital markets. It describes the many roles played by the capital market in modern economies. A description of the main components and instruments traded within are described.

  • item.jpg
  • PhD


  • Authors: Mohd Jaapar, Asmah (2018)

  • The changes in equity index composition have a dual impact, first, to the constituent stocks that make up the index and second, to the index funds that track the index. This study investigates the index effect at constituent stocks level and index funds level using Shari'ah blue-chip indices and their corresponding i-ETFs. The findings of this study provide a new evidence on price discovery contrary to index effect reported in conventional index studies. Specifically, the study discovers the index effect in an opposite direction, i.e., additions suffered negative abnormal returns while deletions gained positive abnormal returns around index revision period. Available in physical copy ...

  • impact_of_crude_oil_price_on_Islamic_stock_indices_monir_buerhan_mansur.pdf.jpg
  • Journal Article


  • Authors: Abdullah, Ahmad Monir; Saiti, Buerhan; Mohammed Masih, Abul Mansur (2016)

  • This paper is the first attempt at testing the "time-varying" and "time-scale dependent" volatilities of and correlations between the selected Islamic stock indices of South East Asian countries and selected commodities for enhancing portfolio diversification benefits. Consistent with the results of our VECM, our analysis based on the application of the recent wavelet technique MODWT, indicates that the Singapore Islamic index is leading the other Islamic indices and the commodities. From the point of view of portfolio diversification benefits, based on the extent of dynamic correlations between variables, our results suggest that an investor should be aware that the Philippine Islami...

  • The_impact_of_delisting_Shariah_compliant_stocks_on_Islamic_investments_Saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • Islamic investments as a critical component of the Halal supply chain received considerable attention in the global financial market when the Dow Jones Islamic market Index (DJIM) was established in 1999, followed by Financial Times Stock Exchange (FTSE), Standard and Poor (S&P) and others. Malaysia took global leadership in the construction of Shariah Indices in 1999 and launched the FTSE Bursa Malaysia Emas Shariah Index in 2007. One fundamental feature of the Shariah Indices is the screening process before the stock can be identified as Shariah compliant. The screening methodology differs to some degree among the major Shariah stock indices but essentially settle to affirm consensu...

  • incentive_compatible_sukuk_musharakah_private_sector_funding_ahcene_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Diaw, Abdou; Bacha, Obiyathulla Ismath; Lahsasna, Ahcene (2012)

  • Despite the huge potential on both the demand and supply sides of the sukuk market, the current sukukstructures fall short of adequately meeting the market’s needs as the Shari'ah compliance of many of them and/or their economic efficiency are questionable. Even though partnership-based sukuk are claimed to reflect the true spirit of Islamic finance, their underuse as a financing instrument is a notable fact. Such a situation, if not addressed, will impede the development of the sukuk market in the future. This paper proposes an innovative sukuk musharakah model for consideration by companies and revenue generating infrastructure projects. The model has an incentive-compatible feature...

  • innovation_key_commence_sukuk_market_aishath.PDF.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2016)

  • Maldives is a hundred percent Muslim country consisting more than thousand islands situated in the Indian Ocean. Nevertheless, the concept of Islamic finance is still new to the country as the first form of Islamic finance was introduced to the country in 2003 via the operations of Amana Takaful Maldives and it took about eight years from 2003 to establish the first Islamic Bank of the country. In 2011, the regulator of the capital markets in the country, the Capital Market Development Authority ('CMDA') undertook the project of pioneering a sukuk market in the country and this dream was realised only in 2013, when Housing Development Finance Corporation Plc ('HDFC') issued the first ...

  • item.jpg
  • Master


  • Authors: Wan Ayub, Wan Nor Aishahton (2015)

  • This paper aims to empirically study the impact of interest rate and exchange rate risks on Islamic bank stock returns. The data for this study is obtained from the Datastream for the period between 1996 and 2013. The methodology employed is the standard linear regression and EGARCH estimation models. The dataset used in this study involves 39 full-fledged Islamic banks across the globe. The empirical evidence reveals that market risk is the major determinant of the sensitivity of Islamic bank stock returns. Both methods are used in this study indicates that the coefficients of market rate returns ... Available in physical copy only (Call Number: t HG 4551 W244I)

  • introduction to sukuk islamic debt.pdf.jpg
  • Chapter in Book


  • Authors: Ariff, Mohamed; Iqbal, Munawar; Ramadili Mohd, Shamsher Mohamad (2012)

  • This book is the outcome of a joint effort of a number of senior practising professionals as well as leading research scholars and educators in Islamic finance. The result is a reliable book on the subject of sukuk securities. Though this type of security is new ro modern Islamic finance, it has its historical roots some centuries earlier as a novel instrument developed in the Turkish Empire based on earlier practices of government treasuries to raise money. Available in physical copy only (Call Number: HG 4651 I82I)

  • IRTI_collaborates_CMDA_maldives_conduct_training_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • The Islamic Research and Training Institute (IRTI) of the IDB has collaborated with the Capital Market Development Authority (CMDA) of the Maldives to successfully conduct a three day training program with the theme "Islamic Capital Market". The training was conducted after a five-year gap. The purpose of the training, held from the 25th-27th June 2018 at Champa Central Hotel, was to provide training on Islamic capital market matters for finance industry stakeholders.

  • Is_the_long_term_profit_rate_of_Malaysian_shamsher.pdf.jpg
  • Journal Article


  • Authors: Adejoke, Adesina-Uthman Ganiyat; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad; Hassan, M. Kabir (2013)

  • Decomposition of yield curves is important for pricing of fixed income instruments, inflation management, and modeling term structure of interest rates. Therefore, this study investigates whether the long term profit rate of different classes of Sukuk (Islamic bond) is a viable predictor of future spot profit rates. Data on Malaysian Sukuk from 2001-2010 was used to estimate yield curves and forward rates. Regression findings suggest that the forward rate is a weak predictor of future spot profit rate, implying long term profit rates are not average of future spot rate s on long term Sukuk. The findings do not support the expectation hypothesis. However, comparison with securities of ...

Browsing by Topic Islamic capital markets

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 60 to 69 of 151
  • IB1006_islamic capital markets.pdf.jpg
  • Book


  • Authors: Bacha, Obiyathulla Ismath (2011)

  • This guide provides an overview of capital markets. It describes the many roles played by the capital market in modern economies. A description of the main components and instruments traded within are described.

  • item.jpg
  • PhD


  • Authors: Mohd Jaapar, Asmah (2018)

  • The changes in equity index composition have a dual impact, first, to the constituent stocks that make up the index and second, to the index funds that track the index. This study investigates the index effect at constituent stocks level and index funds level using Shari'ah blue-chip indices and their corresponding i-ETFs. The findings of this study provide a new evidence on price discovery contrary to index effect reported in conventional index studies. Specifically, the study discovers the index effect in an opposite direction, i.e., additions suffered negative abnormal returns while deletions gained positive abnormal returns around index revision period. Available in physical copy ...

  • impact_of_crude_oil_price_on_Islamic_stock_indices_monir_buerhan_mansur.pdf.jpg
  • Journal Article


  • Authors: Abdullah, Ahmad Monir; Saiti, Buerhan; Mohammed Masih, Abul Mansur (2016)

  • This paper is the first attempt at testing the "time-varying" and "time-scale dependent" volatilities of and correlations between the selected Islamic stock indices of South East Asian countries and selected commodities for enhancing portfolio diversification benefits. Consistent with the results of our VECM, our analysis based on the application of the recent wavelet technique MODWT, indicates that the Singapore Islamic index is leading the other Islamic indices and the commodities. From the point of view of portfolio diversification benefits, based on the extent of dynamic correlations between variables, our results suggest that an investor should be aware that the Philippine Islami...

  • The_impact_of_delisting_Shariah_compliant_stocks_on_Islamic_investments_Saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • Islamic investments as a critical component of the Halal supply chain received considerable attention in the global financial market when the Dow Jones Islamic market Index (DJIM) was established in 1999, followed by Financial Times Stock Exchange (FTSE), Standard and Poor (S&P) and others. Malaysia took global leadership in the construction of Shariah Indices in 1999 and launched the FTSE Bursa Malaysia Emas Shariah Index in 2007. One fundamental feature of the Shariah Indices is the screening process before the stock can be identified as Shariah compliant. The screening methodology differs to some degree among the major Shariah stock indices but essentially settle to affirm consensu...

  • incentive_compatible_sukuk_musharakah_private_sector_funding_ahcene_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Diaw, Abdou; Bacha, Obiyathulla Ismath; Lahsasna, Ahcene (2012)

  • Despite the huge potential on both the demand and supply sides of the sukuk market, the current sukukstructures fall short of adequately meeting the market’s needs as the Shari'ah compliance of many of them and/or their economic efficiency are questionable. Even though partnership-based sukuk are claimed to reflect the true spirit of Islamic finance, their underuse as a financing instrument is a notable fact. Such a situation, if not addressed, will impede the development of the sukuk market in the future. This paper proposes an innovative sukuk musharakah model for consideration by companies and revenue generating infrastructure projects. The model has an incentive-compatible feature...

  • innovation_key_commence_sukuk_market_aishath.PDF.jpg
  • Journal Article


  • Authors: Muneeza, Aishath (2016)

  • Maldives is a hundred percent Muslim country consisting more than thousand islands situated in the Indian Ocean. Nevertheless, the concept of Islamic finance is still new to the country as the first form of Islamic finance was introduced to the country in 2003 via the operations of Amana Takaful Maldives and it took about eight years from 2003 to establish the first Islamic Bank of the country. In 2011, the regulator of the capital markets in the country, the Capital Market Development Authority ('CMDA') undertook the project of pioneering a sukuk market in the country and this dream was realised only in 2013, when Housing Development Finance Corporation Plc ('HDFC') issued the first ...

  • item.jpg
  • Master


  • Authors: Wan Ayub, Wan Nor Aishahton (2015)

  • This paper aims to empirically study the impact of interest rate and exchange rate risks on Islamic bank stock returns. The data for this study is obtained from the Datastream for the period between 1996 and 2013. The methodology employed is the standard linear regression and EGARCH estimation models. The dataset used in this study involves 39 full-fledged Islamic banks across the globe. The empirical evidence reveals that market risk is the major determinant of the sensitivity of Islamic bank stock returns. Both methods are used in this study indicates that the coefficients of market rate returns ... Available in physical copy only (Call Number: t HG 4551 W244I)

  • introduction to sukuk islamic debt.pdf.jpg
  • Chapter in Book


  • Authors: Ariff, Mohamed; Iqbal, Munawar; Ramadili Mohd, Shamsher Mohamad (2012)

  • This book is the outcome of a joint effort of a number of senior practising professionals as well as leading research scholars and educators in Islamic finance. The result is a reliable book on the subject of sukuk securities. Though this type of security is new ro modern Islamic finance, it has its historical roots some centuries earlier as a novel instrument developed in the Turkish Empire based on earlier practices of government treasuries to raise money. Available in physical copy only (Call Number: HG 4651 I82I)

  • IRTI_collaborates_CMDA_maldives_conduct_training_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • The Islamic Research and Training Institute (IRTI) of the IDB has collaborated with the Capital Market Development Authority (CMDA) of the Maldives to successfully conduct a three day training program with the theme "Islamic Capital Market". The training was conducted after a five-year gap. The purpose of the training, held from the 25th-27th June 2018 at Champa Central Hotel, was to provide training on Islamic capital market matters for finance industry stakeholders.

  • Is_the_long_term_profit_rate_of_Malaysian_shamsher.pdf.jpg
  • Journal Article


  • Authors: Adejoke, Adesina-Uthman Ganiyat; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad; Hassan, M. Kabir (2013)

  • Decomposition of yield curves is important for pricing of fixed income instruments, inflation management, and modeling term structure of interest rates. Therefore, this study investigates whether the long term profit rate of different classes of Sukuk (Islamic bond) is a viable predictor of future spot profit rates. Data on Malaysian Sukuk from 2001-2010 was used to estimate yield curves and forward rates. Regression findings suggest that the forward rate is a weak predictor of future spot profit rate, implying long term profit rates are not average of future spot rate s on long term Sukuk. The findings do not support the expectation hypothesis. However, comparison with securities of ...