Browsing by Topic Islamic finance

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Showing results 162 to 171 of 220
  • IFHubEd6_resource_rich_muslim_countries_islamic_institutional_reforms_liza.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mydin, Liza (2017)

  • The Organization of the Islamic Cooperation (OIC) countries have high economic potential in various fields, including productive land, mining, energy, agriculture, human resources and financial means. Collectively, the member countries of the OIC contribute over 9% of the world's total GDP1 with 22.8% of the world's population. Saudi Arabia and the United Arab Emirates alone, contribute about 17% of world oil production2. It could be expected that the wealth of natural resources would position the oil-producing OIC countries at the forefront of economic performance and growth. Yet, their economic performance often falls behind other countries. Income disparity in the OIC countries has...

  • The_resurgence_of_Islamic_social_finance_Ziyaad.pdf.jpg
  • Industry Article


  • Authors: Mahomed, Ziyaad (2017)

  • The consistent growth of the global Islamic banking and finance has provided a niche market with solutions and financial inclusion through a well-defined Islamic ethos. Unfortunately, Islamic finance has been criticised for having diverted from its core principles of socio-economic empowerment and upliftment. As in mainstream interest-based finance, Islamic financing and advances rely on the customers' credit-worthiness and the ability to repay, inevitably supporting those with good credit standing to improve their financial status. But, how has Islamic finance improved the lot of the downtrodden? What about the ethical, socio-economic tenets that Islamic finance has so vociferously e...

  • reviving_ethics_islamic_finance_mabid.pdf.jpg
  • Journal Article


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2010)

  • When it comes to definitions of ethics, and business ethics in particular, we have relied in this paper on a quick survey of the literature. We also referred to other writings to explain how interest-based lending escaped religions morality in the west. After providing an Islamic perspective of ethics and business ethics, the article directs itself to the moral responsibilities of system participants. Naturally there is a great deal of soul searching to do and there are tough questions that must be answered by everyone. In this regard, more questions than answers are provided. As a result, the Islamic finance system is found to have deviated from its own ethics and must put some effor...

  • PhD_Riba_free_model_of_stabilization_and_growth_application_to_Senegal_Adama.pdf.jpg
  • PhD


  • Authors: Dieye, Adama (2017)

  • The thesis addresses the failure of a model of economic development in Senegal and many other developing countries. Despite decades of economic adjustment programs designed by international financial institutions and supported by donors, Senegal could not achieve sustained prosperity or show strong internal and external balances. The thesis proposes to break the vicious circle of weak economic growth, financial imbalances, high level of debt and poverty. Accordingly, it adopts an Islamic paradigm that offers far better prospects for macroeconomic growth and social justice ... Available in physical copy and downloadable format (Call Number: t HG 3368 A6 D567)

  • risk_management_and_derivatives.pdf.jpg
  • Chapter in Book


  • Authors: Bacha, Obiyathulla Ismath (2014)

  • This chapter examines risk management issues in Islamic banking and finance (IBF). It describes the current state of affairs, the available risk management tools and prescribes possible solutions where there are no risk management tools currently. It focuses on four key areas within IBF. These are: (1) net worth/profit rate risk of Islamic banks; (2) risks associated with sukuk portfolios; (3) equity risks of Islamic mutual funds; and (4) exchange rate risks of Shari'ah-compliant business entities.

  • item.jpg
  • Master


  • Authors: Hassaan, Mohamed (2015)

  • Financial intermediaries such as banks face different risks during the course of their business. Handling these risks become more challenging especially while operating in a competitive market environment. As Islamic banking industry is relatively new, an adequate regulatory and legal framework to support the industry is still lacking in many countries. Further the nature of risk faced by Islamic banks in certain circumstances is different at the organizational and product level as compared to their conventional counterparts ... Available in physical copy only (Call Number: t HD 61 M697)

  • risk_sharing_shared_prosperity_Islamic_finance_abbas.pdf.jpg
  • Journal Article


  • Authors: Maghrebi, Nabil; Mirakhor, Abbas (2015)

  • This paper argues that risk sharing is an effective method of expanding participation of agents in economic growth and development and more effective sharing of fruits of prosperity than risk transfer that currently dominates financial systems. Kuala Lumpur Declaration of 2012, by a group of leading Shari'ah scholars and Muslim economists, considers risk sharing as the essence of Islamic finance, a litmus test of which is its ability to promote financial inclusion and asset-building capacity of the poor and thus better sharing of prosperity. The mobilisation of financial resources toward productive activities through risk sharing enables the Islamic financial system to actualize ec...

  • risk sharing as the epistemological foundation_abbas.pdf.jpg
  • Chapter in Book


  • Authors: Mirakhor, Abbas; Smolo, Edib (2013)

  • Epistemology is defined as the theory of the method or grounds of knowledge. Simply stated, it deals with the question of what we know about a phenomenon and how do we know it. It is used in this paper to clarify the terms and phenomena and show deviations of actual practices from its epistemology. Beofre Islamic finance made its debut in the conventional space, there was what could be a 'market failure'in the financial system in the form of substantial unmet demands for Shari'ah-compliant financial products.

  • risk_sharing_corporate_public_finance_contribution_islamic_finance_abbas_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Bacha, Obiyathulla Ismath; Mirakhor, Abbas; Askari, Hossein (2015)

  • The risk sharing principles of Islamic finance as embodied in mudarabah and musharakah contracts have been extensively used throughout history. For example, the maritime trades of 14th century Italian city-states with Middle East and Asia were financed by ‘sea loans' and ‘commenda’. Historians have traced the development of commenda to borrowing from the concept of mudarabah used by Muslims (Udovitch, 1962; 1967; 1970; Mirakhor, 2003). They have also recorded how crucially important these contracts were to the growth of not only the maritime trade but also to the economic, social and political progress of European city-states.

  • risk_sharing_finance_islamic_finance_alternative_cover.jpg.jpg
  • Book


  • Authors: Askari, Hossein; Iqbal, Zamir; Krichene, Noureddine; Mirakhor, Abbas (2012)

  • In this volume, the authors make an important attempt to develop the building blocks of an Islamic financial system and elaborate on its implementation as a comprehensive system. They make a convincing case for the world to shed its reliance on debt, interest and leveraging, and revamp the global financial system to rely more heavily on equity financing, genuine asset securitization linking the payoffs of financial securities to the underlying assets. This would ensure promoting wider risk sharing and a more stable financial environment.

Browsing by Topic Islamic finance

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 162 to 171 of 220
  • IFHubEd6_resource_rich_muslim_countries_islamic_institutional_reforms_liza.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mydin, Liza (2017)

  • The Organization of the Islamic Cooperation (OIC) countries have high economic potential in various fields, including productive land, mining, energy, agriculture, human resources and financial means. Collectively, the member countries of the OIC contribute over 9% of the world's total GDP1 with 22.8% of the world's population. Saudi Arabia and the United Arab Emirates alone, contribute about 17% of world oil production2. It could be expected that the wealth of natural resources would position the oil-producing OIC countries at the forefront of economic performance and growth. Yet, their economic performance often falls behind other countries. Income disparity in the OIC countries has...

  • The_resurgence_of_Islamic_social_finance_Ziyaad.pdf.jpg
  • Industry Article


  • Authors: Mahomed, Ziyaad (2017)

  • The consistent growth of the global Islamic banking and finance has provided a niche market with solutions and financial inclusion through a well-defined Islamic ethos. Unfortunately, Islamic finance has been criticised for having diverted from its core principles of socio-economic empowerment and upliftment. As in mainstream interest-based finance, Islamic financing and advances rely on the customers' credit-worthiness and the ability to repay, inevitably supporting those with good credit standing to improve their financial status. But, how has Islamic finance improved the lot of the downtrodden? What about the ethical, socio-economic tenets that Islamic finance has so vociferously e...

  • reviving_ethics_islamic_finance_mabid.pdf.jpg
  • Journal Article


  • Authors: Mahmoud Al-Jarhi, Mabid Ali Mohamed (2010)

  • When it comes to definitions of ethics, and business ethics in particular, we have relied in this paper on a quick survey of the literature. We also referred to other writings to explain how interest-based lending escaped religions morality in the west. After providing an Islamic perspective of ethics and business ethics, the article directs itself to the moral responsibilities of system participants. Naturally there is a great deal of soul searching to do and there are tough questions that must be answered by everyone. In this regard, more questions than answers are provided. As a result, the Islamic finance system is found to have deviated from its own ethics and must put some effor...

  • PhD_Riba_free_model_of_stabilization_and_growth_application_to_Senegal_Adama.pdf.jpg
  • PhD


  • Authors: Dieye, Adama (2017)

  • The thesis addresses the failure of a model of economic development in Senegal and many other developing countries. Despite decades of economic adjustment programs designed by international financial institutions and supported by donors, Senegal could not achieve sustained prosperity or show strong internal and external balances. The thesis proposes to break the vicious circle of weak economic growth, financial imbalances, high level of debt and poverty. Accordingly, it adopts an Islamic paradigm that offers far better prospects for macroeconomic growth and social justice ... Available in physical copy and downloadable format (Call Number: t HG 3368 A6 D567)

  • risk_management_and_derivatives.pdf.jpg
  • Chapter in Book


  • Authors: Bacha, Obiyathulla Ismath (2014)

  • This chapter examines risk management issues in Islamic banking and finance (IBF). It describes the current state of affairs, the available risk management tools and prescribes possible solutions where there are no risk management tools currently. It focuses on four key areas within IBF. These are: (1) net worth/profit rate risk of Islamic banks; (2) risks associated with sukuk portfolios; (3) equity risks of Islamic mutual funds; and (4) exchange rate risks of Shari'ah-compliant business entities.

  • item.jpg
  • Master


  • Authors: Hassaan, Mohamed (2015)

  • Financial intermediaries such as banks face different risks during the course of their business. Handling these risks become more challenging especially while operating in a competitive market environment. As Islamic banking industry is relatively new, an adequate regulatory and legal framework to support the industry is still lacking in many countries. Further the nature of risk faced by Islamic banks in certain circumstances is different at the organizational and product level as compared to their conventional counterparts ... Available in physical copy only (Call Number: t HD 61 M697)

  • risk_sharing_shared_prosperity_Islamic_finance_abbas.pdf.jpg
  • Journal Article


  • Authors: Maghrebi, Nabil; Mirakhor, Abbas (2015)

  • This paper argues that risk sharing is an effective method of expanding participation of agents in economic growth and development and more effective sharing of fruits of prosperity than risk transfer that currently dominates financial systems. Kuala Lumpur Declaration of 2012, by a group of leading Shari'ah scholars and Muslim economists, considers risk sharing as the essence of Islamic finance, a litmus test of which is its ability to promote financial inclusion and asset-building capacity of the poor and thus better sharing of prosperity. The mobilisation of financial resources toward productive activities through risk sharing enables the Islamic financial system to actualize ec...

  • risk sharing as the epistemological foundation_abbas.pdf.jpg
  • Chapter in Book


  • Authors: Mirakhor, Abbas; Smolo, Edib (2013)

  • Epistemology is defined as the theory of the method or grounds of knowledge. Simply stated, it deals with the question of what we know about a phenomenon and how do we know it. It is used in this paper to clarify the terms and phenomena and show deviations of actual practices from its epistemology. Beofre Islamic finance made its debut in the conventional space, there was what could be a 'market failure'in the financial system in the form of substantial unmet demands for Shari'ah-compliant financial products.

  • risk_sharing_corporate_public_finance_contribution_islamic_finance_abbas_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Bacha, Obiyathulla Ismath; Mirakhor, Abbas; Askari, Hossein (2015)

  • The risk sharing principles of Islamic finance as embodied in mudarabah and musharakah contracts have been extensively used throughout history. For example, the maritime trades of 14th century Italian city-states with Middle East and Asia were financed by ‘sea loans' and ‘commenda’. Historians have traced the development of commenda to borrowing from the concept of mudarabah used by Muslims (Udovitch, 1962; 1967; 1970; Mirakhor, 2003). They have also recorded how crucially important these contracts were to the growth of not only the maritime trade but also to the economic, social and political progress of European city-states.

  • risk_sharing_finance_islamic_finance_alternative_cover.jpg.jpg
  • Book


  • Authors: Askari, Hossein; Iqbal, Zamir; Krichene, Noureddine; Mirakhor, Abbas (2012)

  • In this volume, the authors make an important attempt to develop the building blocks of an Islamic financial system and elaborate on its implementation as a comprehensive system. They make a convincing case for the world to shed its reliance on debt, interest and leveraging, and revamp the global financial system to rely more heavily on equity financing, genuine asset securitization linking the payoffs of financial securities to the underlying assets. This would ensure promoting wider risk sharing and a more stable financial environment.