Browsing by Topic Islamic finance

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Showing results 200 to 209 of 275
  • reality_check_slow_progress_digital_transformation_Islamic_social_finance_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2019)

  • It is true that significant progress in poverty alleviation and social empowerment has been made over the last 30 years. For OIC member states, the percentage of the population living below the poverty line has decreased by almost half, from 41.1% in 1990 to 22.4% in 2011. However, as populations increase, the number of people suffering from hunger, malnutrition and disease remains considerable. The OIC 2025 Programme of Action stresses, in Article 1.6, that Member States must transform their approach through "effective utilization of Islamic social finance (Zakat, Waqf) at national and intra-OIC level" in order to address poverty. It is quickly forgotten that the celebrated 17 social...

  • recent_Islamic_finance_developments_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • Maldives Islamic Bank marks five-year presence in Maldives. Maldives Islamic Bank (MIB) celebrated its fifth anniversary on the evening of the 18th March 2016 at Hotel Jen Maldives. The guest of honor at the event was Khalid Aboodi, CEO of the Islamic Corporation for the Development of the Private Sector, who thanked the government of Maldives for its efforts to establish and facilitate the growth of an Islamic bank in Maldives.

  • item.jpg
  • Master


  • Authors: Ahmad Sazaki, Muhammad Luqman (2019)

  • This paper aims to exhibit how Regtech can be utilized in developing supportive, yet prudent, policies to the Islamic banking and finance sector which are aligned with the objectives of the Shari'ah. Regtech has showcased to be a powerful enabler for both regulators and market participants to collect, analyze and improve compliance to be achieved in real-time at low costs. Apart from that, the ability for Regtech and facilitating technologies to collect hard and soft data (e.g., financial information and behavioural data) provides an avenue for regulators to incorporate the ethos of Islamic finance into its policy development processes. To achieve the said objectives, this paper would...

  • regulating_fintech_business_aishath.png.jpg
  • Chapter in Book


  • Authors: Kunhibava, Sherin; Muneeza, Aishath (2020)

  • The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, an...

  • regulatory_framework_Islamic_finance_abbas.pdf.jpg
  • Industry Article


  • Authors: Mirakhor, Abbas (2014)

  • Generally, the objective of a regulatory framework within which a financial system operates is established for the purpose of protecting the system from abuses that may threaten the stability of financial relations. In doing so, attention is paid to the risk of financial transactions. The risk of any transaction can be managed in three ways. Risk can be transferred, shifted or shared. Depositors transfer their risk to a bank that then transfers it to borrowers. In this case the bank is an intermediary. Risk can be shifted in two different ways. A person shifts the risk of life or health to an insurance company with full knowledge and acquiescence of the latter that accepts the shifted...

  • regulatory_framework_for_islamic_finance_muawanah_obiyathulla_abbas.JPG.jpg
  • Chapter in Book


  • Authors: Lajis, Siti Muawanah; Bacha, Obiyathulla Ismath; Mirakhor, Abbas (2016)

  • The role of regulation extends beyond ensuring stability and confidence in the financial system, as it is also behavioral shaper of market players. The laws, standards, and guidelines issued are instrumental in creating an incentive structure for market players to behave in certain ways. Using incentive audit approach, this paper attempts to examine the efficacy of the evolving Malaysian regulatory and supervisory framework for Islamic banking, in preserving financial stability as well as supporting the growth of the financial system and real economy. The findings suggest that the present framework unintentionally misaligns incentives and discourages Islamic banks from fully embracing...

  • item.jpg
  • PhD


  • Authors: Tengku Zainal Abidin, Tengku Roziana (2019)

  • The world is striving towards eradicating poverty via inclusive growth. Financial inclusion is seen as an important tool towards getting the unbanked, poor population into the financial system. Does greater financial inclusion create financial stability? Engaging the less financially capable people into the financial system is not a risk-free undertaking. Relaxation of rules and regulations which trigger sub-prime crisis in 2007-2008 has proven that more exposure to 'unfit' borrowers may lead to financial instability. Our study focuses on OIC countries for the impressive growth of lslamic finance during the past decade where 95% of the assets reside in the majority-Muslims countries y...

  • replacing_the_interest_rate_mechanism_in_monetary_policy_norhanim_abbas_khairul.pdf.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Mirakhor, Abbas; Mohd Subky, Khairul Hafidzi (2017)

  • The current macroeconomic policies in Malaysia follow conventional model based on the risk-transfer and/or risk-shifting paradigm, as opposed to risk-sharing principles proposed in Islamic finance. Malaysia’s monetary policy relies and operates through short-term interest rates which is currently called the overnight policy rate (OPR) to achieve price stability. In order to become a global leader and an indisputable global hub for Islamic finance, there is a need to develop an alternative monetary policy framework for Malaysia that is Shariahbased. One of the key elements in doing so is to come up with an alternative Islamic Pricing Benchmark (IPB) that is free from interest rates. He...

  • 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...

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 200 to 209 of 275
  • reality_check_slow_progress_digital_transformation_Islamic_social_finance_ziyaad.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mahomed, Ziyaad (2019)

  • It is true that significant progress in poverty alleviation and social empowerment has been made over the last 30 years. For OIC member states, the percentage of the population living below the poverty line has decreased by almost half, from 41.1% in 1990 to 22.4% in 2011. However, as populations increase, the number of people suffering from hunger, malnutrition and disease remains considerable. The OIC 2025 Programme of Action stresses, in Article 1.6, that Member States must transform their approach through "effective utilization of Islamic social finance (Zakat, Waqf) at national and intra-OIC level" in order to address poverty. It is quickly forgotten that the celebrated 17 social...

  • recent_Islamic_finance_developments_Maldives_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2016)

  • Maldives Islamic Bank marks five-year presence in Maldives. Maldives Islamic Bank (MIB) celebrated its fifth anniversary on the evening of the 18th March 2016 at Hotel Jen Maldives. The guest of honor at the event was Khalid Aboodi, CEO of the Islamic Corporation for the Development of the Private Sector, who thanked the government of Maldives for its efforts to establish and facilitate the growth of an Islamic bank in Maldives.

  • item.jpg
  • Master


  • Authors: Ahmad Sazaki, Muhammad Luqman (2019)

  • This paper aims to exhibit how Regtech can be utilized in developing supportive, yet prudent, policies to the Islamic banking and finance sector which are aligned with the objectives of the Shari'ah. Regtech has showcased to be a powerful enabler for both regulators and market participants to collect, analyze and improve compliance to be achieved in real-time at low costs. Apart from that, the ability for Regtech and facilitating technologies to collect hard and soft data (e.g., financial information and behavioural data) provides an avenue for regulators to incorporate the ethos of Islamic finance into its policy development processes. To achieve the said objectives, this paper would...

  • regulating_fintech_business_aishath.png.jpg
  • Chapter in Book


  • Authors: Kunhibava, Sherin; Muneeza, Aishath (2020)

  • The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, an...

  • regulatory_framework_Islamic_finance_abbas.pdf.jpg
  • Industry Article


  • Authors: Mirakhor, Abbas (2014)

  • Generally, the objective of a regulatory framework within which a financial system operates is established for the purpose of protecting the system from abuses that may threaten the stability of financial relations. In doing so, attention is paid to the risk of financial transactions. The risk of any transaction can be managed in three ways. Risk can be transferred, shifted or shared. Depositors transfer their risk to a bank that then transfers it to borrowers. In this case the bank is an intermediary. Risk can be shifted in two different ways. A person shifts the risk of life or health to an insurance company with full knowledge and acquiescence of the latter that accepts the shifted...

  • regulatory_framework_for_islamic_finance_muawanah_obiyathulla_abbas.JPG.jpg
  • Chapter in Book


  • Authors: Lajis, Siti Muawanah; Bacha, Obiyathulla Ismath; Mirakhor, Abbas (2016)

  • The role of regulation extends beyond ensuring stability and confidence in the financial system, as it is also behavioral shaper of market players. The laws, standards, and guidelines issued are instrumental in creating an incentive structure for market players to behave in certain ways. Using incentive audit approach, this paper attempts to examine the efficacy of the evolving Malaysian regulatory and supervisory framework for Islamic banking, in preserving financial stability as well as supporting the growth of the financial system and real economy. The findings suggest that the present framework unintentionally misaligns incentives and discourages Islamic banks from fully embracing...

  • item.jpg
  • PhD


  • Authors: Tengku Zainal Abidin, Tengku Roziana (2019)

  • The world is striving towards eradicating poverty via inclusive growth. Financial inclusion is seen as an important tool towards getting the unbanked, poor population into the financial system. Does greater financial inclusion create financial stability? Engaging the less financially capable people into the financial system is not a risk-free undertaking. Relaxation of rules and regulations which trigger sub-prime crisis in 2007-2008 has proven that more exposure to 'unfit' borrowers may lead to financial instability. Our study focuses on OIC countries for the impressive growth of lslamic finance during the past decade where 95% of the assets reside in the majority-Muslims countries y...

  • replacing_the_interest_rate_mechanism_in_monetary_policy_norhanim_abbas_khairul.pdf.jpg
  • Academic Proceeding


  • Authors: Mat Sari, Norhanim; Mirakhor, Abbas; Mohd Subky, Khairul Hafidzi (2017)

  • The current macroeconomic policies in Malaysia follow conventional model based on the risk-transfer and/or risk-shifting paradigm, as opposed to risk-sharing principles proposed in Islamic finance. Malaysia’s monetary policy relies and operates through short-term interest rates which is currently called the overnight policy rate (OPR) to achieve price stability. In order to become a global leader and an indisputable global hub for Islamic finance, there is a need to develop an alternative monetary policy framework for Malaysia that is Shariahbased. One of the key elements in doing so is to come up with an alternative Islamic Pricing Benchmark (IPB) that is free from interest rates. He...

  • 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...