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 126 to 135 of 151
  • item.jpg
  • Journal Article


  • Authors: Sabetfar, Pooya; Cheng, Fan Fah; Ramadili Mohd, Shamsher Mohamad; Amin Noordin, Bany Ariffin (2011)

  • This paper provides weak evidence in support for the application of Arbitrage Pricing Theory (APT) on the Iranian stock market in the Sharia is the sacred law of Islam faith.) based close economy. Tests conducted using the principal component analysis and canonical correlation model showed that at least one to three factors that can explain the cross-section of expected returns in this market. Financial and economical sanctions possibly explain the negative stock market returns which reflect the reaction of investors to the announcement of sanctions. Overall, the results suggest that there are four groups of macroeconomic variables in the test period that affect stock returns for the ...

  • item.jpg
  • PhD


  • Authors: Saiti, Buerhan (2012)

  • This study is motivated by the desire to test empirically whether the contagion seen in conventional stock indexes are also present amongst Sharia'ah-compliant stock indexes. This study is the first attempt at testing whether there has been any contagion among the Shari'ah-compliant stock indexes during the most recent international financial crisis - the US subprime crisis of 2007-2009. The study uses a technique known as the "wavelet approach" which has been very recently imported to finance from engineering sciences ... Available in physical copy only (Call Number: t KBP 940.2 B928 )

  • IFHubEd6_testing_contagion_conventional_shariah_compliant_stock_indexes_buerhan.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Saiti, Buerhan (2017)

  • Recently there has been heightened concern over "contagion" in the conventional financial markets. This study is motivated by the desire to test empirically whether the contagion seen in conventional stock indexes are also present amongst Shari'ah-compliant stock indexes. A key issue in testing for both Islamic and conventional financial market contagion is to draw a distinction between "excessive" and normal co-movements across financial markets. A distinction between contagion and interdependence during periods of high volatility in financial markets has important implications for the asset allocation strategy of risk managers and for policymakers' optimal policy response to a crisi...

  • testing_conventional_islamic_financial_market_contagion_evidence_wavelet_analysis_obiyathulla_mansur.pdf.jpg
  • Journal Article


  • Authors: Saiti, Buerhan; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2015)

  • This study is a first attempt at testing the extent of contagion for conventional and Shari’ah-compliant stock indices. We examine the period surrounding the U.S. subprime crisis of 2007–9 and the Lehman Brothers collapse of 2008 to determine the relative extent of contagion. We find no clear evidence of contagion during the subprime crisis however, during the Lehman collapse most conventional indices showed contagion. Interestingly, the Shari’ah-compliant indices mostly do not show evidence of contagion. Collectively, our results have important implications for fund managers in terms of asset allocation risk and policymakers seeking an optimal policy response to crises.

  • Testing_the_financial_2679.jpg.jpg
  • Chapter in Book


  • Authors: Mohamad Shafi, Roslina; Syed Mohd Zain, Syed Raihan; Mohd Rasid, Mohamed Eskandar Shah; Mydin Meera, Ahamed Kameel (2017)

  • Similar to any type of financial asset, sukuk are vulnerable to macroeconomic conditions and business cycles. In 1999, there were a series of high-profile sukuk defaults globally that tarnised the market's confidence in sukuk. Among these were the East Cameron Partners (ECP), in which the company failed to pay the periodic returns that amounted to US$166 million (Zaheer and Wijnbergen, 2013). Nakheel Sukuk of Dubai are issued by the Gulf Cooperation Council (GCC) and Malaysian companies that include Johor Corporation, Ingress Sukuk Berhad, Tracoma Holdings Berhad and Nam Fatt Corporation Berhad.

  • basel_accords_financial_turmoil_islamic_banks_zubair.pdf.jpg
  • Journal Article


  • Authors: Hasan, Zubair (2014)

  • The primary case of the worldwide collossal failures of financial insititutions-banks in particular-in the wake of the 2007-2008 turmoil was the heightened lure of leverage gains that led them to expand credit beyond what the volume and quality of their capital assets warranted. The devastation led to a major policy shift in finance at the national and international levels, with a focus on capital adequacy that financial institutions must observed for their own safety as well as the wider social interest. It was felt that a stringent and regular watch was needed make adequacy norms work. The Basel Committee on Banking Supervision (BCBS) developed what are known as Accords (agreements)...

  • diversification_benefits_Islamic_investment_during_financial_turmoil_case_US-based_equity_investors_obiya_mm.pdf.jpg
  • Journal Article


  • Authors: Saiti, Buerhan; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2014)

  • A major issue in both Islamic finance and conventional finance is whether the stocks to the volatilities in the asset returns are substitutes or complements in terms of taking risk. An understanding of how volatilities of and correlations between asset returns change over time including their directions (positive or negative) and size (stronger or weaker) is of crucial importance for both the domestic and international investors with a view to diversifying their portfolios for hedging against unforeseen risks. This study is the first attempt to advance the frontier of knowledge particularly in the fast growing field of Islamic Finance through the application of the recently-developed ...

  • islamic_debt_market_sukuk_securities_cover.jpg.jpg
  • Book


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

  • The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich. The internationally renowned contributors present an in-depth study of sukuk securities, beginning with a comprehensive definition and history. They go on to discuss Islamic financial concepts and practices that govern how sukuk securities are issued, how markets are carefu...

  • The_Maldives_edge_towards_a_fully_fledged_Islamic_capital_market_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2012)

  • Maldives is an essentially Muslim country, which mainly follows the Shafi'i School of Thought of Sunni Islam. With a population of just 300,000 it is the smallest country in Asia; it is also the smallest Asian country in terms of land area, consisting of more than a thousand islands, just two meters above sea level. Despite several attempts to introduce Islamic finance in the past, until 2011 Maldives had no Islamic financial institutions.

  • the shariah process in product development and approval in ICM.pdf.jpg
  • Chapter in Book


  • Authors: Lahsasna, Ahcene; Hassan, M. Kabir (2011)

  • Product innovation and enhancement in business and finance is an important aspect for the development and growth of the Islamic finance industry. However the flexibility provided by Shariah in product development should be understood within the norms of Shariah rules, principles and framework. The following discussion will encompass two major dimensions, namely product development and product approval in Islamic capital market.

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 126 to 135 of 151
  • item.jpg
  • Journal Article


  • Authors: Sabetfar, Pooya; Cheng, Fan Fah; Ramadili Mohd, Shamsher Mohamad; Amin Noordin, Bany Ariffin (2011)

  • This paper provides weak evidence in support for the application of Arbitrage Pricing Theory (APT) on the Iranian stock market in the Sharia is the sacred law of Islam faith.) based close economy. Tests conducted using the principal component analysis and canonical correlation model showed that at least one to three factors that can explain the cross-section of expected returns in this market. Financial and economical sanctions possibly explain the negative stock market returns which reflect the reaction of investors to the announcement of sanctions. Overall, the results suggest that there are four groups of macroeconomic variables in the test period that affect stock returns for the ...

  • item.jpg
  • PhD


  • Authors: Saiti, Buerhan (2012)

  • This study is motivated by the desire to test empirically whether the contagion seen in conventional stock indexes are also present amongst Sharia'ah-compliant stock indexes. This study is the first attempt at testing whether there has been any contagion among the Shari'ah-compliant stock indexes during the most recent international financial crisis - the US subprime crisis of 2007-2009. The study uses a technique known as the "wavelet approach" which has been very recently imported to finance from engineering sciences ... Available in physical copy only (Call Number: t KBP 940.2 B928 )

  • IFHubEd6_testing_contagion_conventional_shariah_compliant_stock_indexes_buerhan.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Saiti, Buerhan (2017)

  • Recently there has been heightened concern over "contagion" in the conventional financial markets. This study is motivated by the desire to test empirically whether the contagion seen in conventional stock indexes are also present amongst Shari'ah-compliant stock indexes. A key issue in testing for both Islamic and conventional financial market contagion is to draw a distinction between "excessive" and normal co-movements across financial markets. A distinction between contagion and interdependence during periods of high volatility in financial markets has important implications for the asset allocation strategy of risk managers and for policymakers' optimal policy response to a crisi...

  • testing_conventional_islamic_financial_market_contagion_evidence_wavelet_analysis_obiyathulla_mansur.pdf.jpg
  • Journal Article


  • Authors: Saiti, Buerhan; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2015)

  • This study is a first attempt at testing the extent of contagion for conventional and Shari’ah-compliant stock indices. We examine the period surrounding the U.S. subprime crisis of 2007–9 and the Lehman Brothers collapse of 2008 to determine the relative extent of contagion. We find no clear evidence of contagion during the subprime crisis however, during the Lehman collapse most conventional indices showed contagion. Interestingly, the Shari’ah-compliant indices mostly do not show evidence of contagion. Collectively, our results have important implications for fund managers in terms of asset allocation risk and policymakers seeking an optimal policy response to crises.

  • Testing_the_financial_2679.jpg.jpg
  • Chapter in Book


  • Authors: Mohamad Shafi, Roslina; Syed Mohd Zain, Syed Raihan; Mohd Rasid, Mohamed Eskandar Shah; Mydin Meera, Ahamed Kameel (2017)

  • Similar to any type of financial asset, sukuk are vulnerable to macroeconomic conditions and business cycles. In 1999, there were a series of high-profile sukuk defaults globally that tarnised the market's confidence in sukuk. Among these were the East Cameron Partners (ECP), in which the company failed to pay the periodic returns that amounted to US$166 million (Zaheer and Wijnbergen, 2013). Nakheel Sukuk of Dubai are issued by the Gulf Cooperation Council (GCC) and Malaysian companies that include Johor Corporation, Ingress Sukuk Berhad, Tracoma Holdings Berhad and Nam Fatt Corporation Berhad.

  • basel_accords_financial_turmoil_islamic_banks_zubair.pdf.jpg
  • Journal Article


  • Authors: Hasan, Zubair (2014)

  • The primary case of the worldwide collossal failures of financial insititutions-banks in particular-in the wake of the 2007-2008 turmoil was the heightened lure of leverage gains that led them to expand credit beyond what the volume and quality of their capital assets warranted. The devastation led to a major policy shift in finance at the national and international levels, with a focus on capital adequacy that financial institutions must observed for their own safety as well as the wider social interest. It was felt that a stringent and regular watch was needed make adequacy norms work. The Basel Committee on Banking Supervision (BCBS) developed what are known as Accords (agreements)...

  • diversification_benefits_Islamic_investment_during_financial_turmoil_case_US-based_equity_investors_obiya_mm.pdf.jpg
  • Journal Article


  • Authors: Saiti, Buerhan; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2014)

  • A major issue in both Islamic finance and conventional finance is whether the stocks to the volatilities in the asset returns are substitutes or complements in terms of taking risk. An understanding of how volatilities of and correlations between asset returns change over time including their directions (positive or negative) and size (stronger or weaker) is of crucial importance for both the domestic and international investors with a view to diversifying their portfolios for hedging against unforeseen risks. This study is the first attempt to advance the frontier of knowledge particularly in the fast growing field of Islamic Finance through the application of the recently-developed ...

  • islamic_debt_market_sukuk_securities_cover.jpg.jpg
  • Book


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

  • The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich. The internationally renowned contributors present an in-depth study of sukuk securities, beginning with a comprehensive definition and history. They go on to discuss Islamic financial concepts and practices that govern how sukuk securities are issued, how markets are carefu...

  • The_Maldives_edge_towards_a_fully_fledged_Islamic_capital_market_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2012)

  • Maldives is an essentially Muslim country, which mainly follows the Shafi'i School of Thought of Sunni Islam. With a population of just 300,000 it is the smallest country in Asia; it is also the smallest Asian country in terms of land area, consisting of more than a thousand islands, just two meters above sea level. Despite several attempts to introduce Islamic finance in the past, until 2011 Maldives had no Islamic financial institutions.

  • the shariah process in product development and approval in ICM.pdf.jpg
  • Chapter in Book


  • Authors: Lahsasna, Ahcene; Hassan, M. Kabir (2011)

  • Product innovation and enhancement in business and finance is an important aspect for the development and growth of the Islamic finance industry. However the flexibility provided by Shariah in product development should be understood within the norms of Shariah rules, principles and framework. The following discussion will encompass two major dimensions, namely product development and product approval in Islamic capital market.