- PublicationFinancial derivatives: markets and applicationsObiyathulla Ismath Bacha (World Scientific Publishing Co. Pte. Ltd., 2023)
This book is designed for beginners who possess no previous knowledge or familiarity with derivatives. Written in an easy-to-read style, it guides readers through the challenging and complex world of forwards, futures, options, and swaps. The emphasis on Asian markets and contracts enables easier understanding. Financial derivative contracts from Malaysia and select contracts from Thailand, Singapore, and Hong Kong derivative markets are covered. For each derivative contract, their three common applications hedging, arbitrage, and speculating are shown with fully worked out examples. Extensive use of illustrations, graphics, and vignettes provide for easy comprehension of the underlying logic of derivatives.
- PublicationFinancialization of the economy and income inequality in selected OIC and OECD countries: the role of institutional factorsFatima Muhammad Abdulkarim; Abbas Mirakhor; Baharom Abdul Hamid (De Gruyter, 2019)
Income inequality is a serious problem confronting not only the developed world but also developing countries. Recently, financialization has been one of the culprits identified in literature as one of the cause of income inequality. This book offers the only detailed presentation of the how financialization aided the spread of income inequality in Organization of Islamic Cooperation, OIC countries. Finance has taking a center stage in the affairs of most developing economies, surpassing the real sector of the economy. The result is the creation of an indebted society in which people are comfortable with financing their financial needs through credit. This creates a debt laden society that is trapped in the cycle of debt. This book represents a comprehensive and indispensable source for students, practitioners and the general public at large. It presents data which shows the buildup of debt and the rising income inequality in Muslim countries. It includes discussion of the rise in rentier income, financialization of everyday life, decline in physical capital accumulation and deregulation of the financial sector. The book therefore, proffers solutions on how Muslim countries can come out of the present economic problem facing them. The promotion and adoption of Islamic principles, which promotes risk sharing based contracts as against debt based transaction is the way to go. When financial contracts are based on the principles of risk sharing, any gains from economic activities get to be shared equitably. Hence, not only capital owners get to enjoy the benefit from the income derived from investments, but rather, all parties that partake in the contract. Distinguished by its clarity and readability as it is written in a very easy to understand language, it is an important reference work for any concerned individual interested on the recent causes of income inequality in Muslim World.
- PublicationIslamic financial planningZiyaad Mahomed (Islamic Finance Institute of Southern Africa, 2008)
This content of this book are cover on seven chapters, covering topics: Introduction Islamic economic & Islamic banking; Islamic financial planning concepts; Investments, unit trusts & the share market; Sukuks & contemporary investment instruments; Shariah Boards; Wills & estates; and Introduction to takaful.
- PublicationFundamentals in Islamic financeZiyaad Mahomed (Islamic Finance Institute of Southern Africa, 2008)
This content of this book are cover on nine chapters, covering topics: Introduction Islamic economic & Islamic banking principles; Riba in Islam; Islamic law of contracts; Islamic banking techiques: mudaraba; Murabaha-cost plus financing; Musharaka; Ijara, ijara-wa iktina, ijara muntahia bit tamleek; Salam & parallel salam; and Istisna & parallel istisna.
- PublicationCOVID-19 and Islamic financeM. Kabir Hassan; Aishath Muneeza (Cambridge University Press, 2022)
The objective of this element is to provide an overview of Islamic finance by highlighting the impact of the pandemic on it in a comprehensive manner by looking at two branches of Islamic finance: Islamic commercial finance; and Islamic social finance. The approach that is adopted in this element is to first provide an overview of Islamic finance to the readers in a simple and easy manner followed by the impact of pandemic discussed separately for both types of Islamic finance. Last, but not least, the element also recommends ways in which Islamic finance could be further improved in the light of the lessons learnt from the pandemic. It is anticipated that the recommendations made in this regard would assist policymakers, practitioners, researchers and other stakeholders of Islamic finance to understand the way to unlock the full potential of Islamic finance to reduce the wealth gap and achieve financial inclusion.
- PublicationTowards a post-Covid global financial system lessons in social responsibility from Islamic financeM. Kabir Hassan; Adel M. Sarea; Aishath Muneeza (Emerald Publishing Limited, 2022)
The impact of Covid-19 has exposed major cracks in the global financial system and has severely undermined global financial stability. Never have the shortcomings of universal financialization - the dominant principle of the global financial system for the past thirty-odd years - been more obvious or more painful. Islamic finance provides ways forward: based on commercial and social modes of risk-sharing and financing, it offers radical structural solutions to the health, human and financial crises faced in this unprecedented time. In Towards a post-Covid global financial system lessons in social responsibility from Islamic finance, an international team of experts explore how Covid-19 has affected the most vulnerable parts of the global economy; how it has been met by Islamic banking and finance specifically; and how the principles of Islamic social finance could be used to have a fairer, more resilient Islamic finance system for all.
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