Chapter in Book : [182]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 182
  • item.jpg
  • Chapter in Book


  • Authors: Mustapha, Zakariya; Muneeza, Aishath (2020)

  • As a charitable institution, waqf is envisaged as an inherent segment of the Islamic financial services industry with potential to develop into a market for Islamic social finance. While the industry records growth and development with huge profits in its banking, takaful and capital market segments, it has been observed that pursuit of profits has overshadowed social and financial equity goals and thus disproportionately promoted in Islamic finance. Yet, waqf, with over trillion dollars' worth assets to its credit to advance these goals, is neglected and the assets left undeveloped and idle due to governance issues. Thus, eligible beneficiaries of those assets in several Muslim natio...

  • item.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Maruf, Aminuddin (2020)

  • Historically speaking, waqf has played a remarkable role in economic growth and development of Muslim countries. Recently, the call for productive waqf has grown widely and its implementation shows significant impact in various Muslim societies. Interestingly, the revival of idle waqf properties and the creation of cash waqf are becoming economic drivers that will improve the welfare of Muslim societies. It is also surprising to discover the creation of waqf cities in different types such as the Hamdard Waqf City of Health in India, Pakistan and Bangladesh, Al-Rahmah Complex City in Somaliland and Darussalam Gontor Smart Waqf City for Education in Indonesia. The main objective of this...

  • Economic_social_impacts_sovereign_sukuk_Magda et al.jpg.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Ishraga, Khattab; Alchaar, Mhd Osama (2020)

  • This chapter explores the economic and social impacts of sovereign sukuk in Sudan and its unique challenges. The first of its kind, this research collected primary data from different groups of investors of Sudanese governmental sukuk. Adopting a qualitative approach (interview questions and open and closed-ended surveys), four sets of questions were distributed to four groups (individual investors, institutional investors, government officials, and academics). The survey found that despite sukuk's influence in activating the economy and financial markets, and encouraging savings awareness, the market in Sudan is facing many challenges. Accordingly, it is recommended that sukuk issuan...

  • Takaful_Islamic_insurance_retakaful_microtakaful_Ezamshah.jpg.jpg
  • Chapter in Book


  • Authors: Ismail, Ezamshah; World Bank (2016)

  • Takaful, or mutual assistance, is the Islamic counterpart of conventional insurance. The word takaful is derived from an Arabic word kafalah, which means to guarantee. A group of participants agree to support one another jointly for the losses arising from specified risks. They contribute to a fund, and are compensated or reimbursed from that fund in the event of certain risks. The scheme is managed on the participants' behalf by a takaful operator. It is similar to a mutual insurance concept, but it complies with Shariah and is based on concepts of mutual solidarity and risk sharing.

  • Islamic_wealth_management_issues_waqf_management_Malaysia_Shamsher.pdf.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Ariff, Mohamed (2020)

  • This chapter briefly examines ideas from Islamic wealth management and waqf concepts to see if there are ways in which human welfare can be better managed on a community-action level without the visible hands of the government. To do this, authors first examine the concept of Islamic wealth management, and then provide some discussion on how waqf assets already in place in all Islamic countries could be mobilised to meet the needs of communities for sustainable economic development as well as fairer ways of looking after the needs of the have-nots of societies.

  • item.jpg
  • Chapter in Book


  • Authors: Muneeza, Aishath (2014)

  • This chapter aims to explore the Shari'ah governance rules applied in the Malaysian Islamic banking arena and the effect of Islamic Financial Services Act 2013 on it. This is a legal exploratory study primarily focused on library research. Shari'ah governance is a concept that have been developed and applied gradually in Malaysia and the new Islamic Financial Services Act 2013 has taken it to the next level. However, this does not mean that it has resolved the problems in Shari'ah governance that existed before the enactment of the act.

  • 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...

  • post-default_sukuk_restructuring_appraisal_Shariah issues_aishath et al.pdf.jpg
  • Chapter in Book


  • Authors: Ahmad, Abu Umar Faruq; Muneeza, Aishath; Farooq, Mohammad Omar; Hasan, Rashedul (2019)

  • Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari'ah requirements of transferring assets to Sukuk holders in asset-based Sukuk, the originator usually transfers the beneficial ownership to the issuer special purpose vehicles (SPV). However, in asset-backed Sukuk, the originator sells the underlying asset to an SPV and Sukuk holders do not have recourse to the originator in the event of defaults. Among some key unresolved Shari'ah issues in this regard is whether a change of contract necessitates entering a new contract. Other related issues that conflict with the tenets of Shari'ah are: (1) Sukuk structuri...

  • blockchain_its_Shariah_compliant_structure_aishath et al.pdf.jpg
  • Chapter in Book


  • Authors: Muneeza, Aishath; Mustapha, Zakariya (2019)

  • Islamic finance has gained momentum in the world today. Irrespective of faith conviction, it has been accepted as a mode of financing in the world. The development of Islamic finance was gradual in the past. At the initial stage of its development, Islamic finance was concerned more with Shariah compliance of transactions and contracts used in it. Subsequently, focus was realigned on Shariah harmonisation with respect to juristic views and Shariah governance. Islamic finance encompasses some fundamental religious prohibitions and the promotion of certain virtues enshrined in Islam, to be observed in all ramifications of business dealings, including services provision. Therefore, Islam...

  • effects_shadow_economy_on_poverty_baharom et al.pdf.jpg
  • Chapter in Book


  • Authors: Nikopour, Hesam; Habibullah, Muzafar Shah; Din, Badariah H.; Baharom, Abdul Hamid (2019)

  • Poverty alleviation is at the top of the Millennium Development Goals' (MDGs) list of eight goals. In the year 2000, nearly all heads of states and governments met and reaffirmed their faith in the United Nations (UN) as necessary foundations of a more peaceful, prosperous and just world. At this meeting, the MDGs were adopted which the first goal is eradicate extreme poverty and hunger. The question of how to finance poverty reduction measures has been a major concern for policy makers and international organizations for many years. Although it is useful to focus on the quantity and quality of foreign aid and development assistance of donor communities, it is not the solution. In the...

  • capital_structure_Shariah_compliance_firms_Malaysian_evidence_obiyathulla et al.pdf.jpg
  • Chapter in Book


  • Authors: Abdul Halim, Asyraf; Abd Sukor, Mohd Edil; Bacha, Obiyathulla Ismath (2019)

  • In the literature of corporate finance, there exists alongside others, an age long inquiry into the behaviour and determinants of corporate capital structure. The study into capital structure behaviour was pioneered by Modigliani and Miller (1958, 1963) and which is still widely research today. Despite years of research, much are still unknown to us, which determinants are reliable explanator of capital structure variations across firms and time. In 1984, Stewart C. Myers officially introduced the "Capital Structure Puzzle" in his American Finance Association Presidential Speech. The capital structure puzzle at its heart asks the question of how do firms decide and manage their capita...

  • Dividend_policy_case_shariah_compliant_firms_shamsher et al.pdf.jpg
  • Chapter in Book


  • Authors: Anwer, Zaheer; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah; Hassan, M. Kabir; Paltrinieri (2019)

  • Capital structure serves as an important device for mitigation of agency conflicts and, although firms combine debt and cash dividends to address the agency conflicts, debt is preferred as a bonding device by many managers due to its lower cost as compared to equity (John, Knyazeva & Knyazeva, 2015). However, shariah-compliant firms (SCF) cannot use this device due to prohibition of interest-bearing loans in Islam. In this scenario, the dividend payout policy becomes a highly important tool of corporate governance for shariah-compliant investors. Moreover, the managers of these firms cannot maintain stable dividends by issuing bonds and, therefore, the dividend policy of such firms wo...

  • item.jpg
  • Chapter in Book


  • Authors: Ali, Mohsin; Oravampurath, Hasanul Banna; Ziyaad, Mahomed (2020)

  • This chapter examines the economic impact of the migrants' return to Kerala, India during the Gulf oil crisis 2014-2016. Many migrants returned to their homeland during the crisis because they could not find work in the Middle East. The Kerala economy confronted this as one of the biggest threats which directly affected the economy. Almost USD 900 million had been brought to the homeland as remittance from Non-Residential Keralites (NRKs) working in Gulf countries. But the return of a large number of NRKs decreased the remittances to 10-15%. This chapter proposes Social Impact Sukuk to support the migrants who are back to their homelands from GCC countries. Data and information are co...

  • Is_there_cost_for_faith_based_investing_shamsher et al.pdf.jpg
  • Chapter in Book


  • Authors: Anwer, Zaheer; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • Investment is an activity that involves the commitment of resources for a certain holding period in anticipation of creating more resource (wealth). This chapter focuses on the risk-adjusted performance of two-specific classes of assets, namely, the socially responsible investment (SRI) class and the shariah-compliant classes of assets. The aim is to ascertain whether investors have to bear an extra cost for choosing these classes of assets in their portfolio. In managing the Islamic finance space, religiosity and/or ethical practices prompt investors to discard so-called 'sin-stocks' and limit their investment horizons to permissible faith-based investment alternatives ...

  • what_retirement_Ariff.pdf.jpg
  • Chapter in Book


  • Authors: Abdul Kareem, Mohamed Ariff (2018)

  • Technically, I have "retired" twice and am still working fulltime before "retiring" again sometime in the future for the third time. It has always been a busy life for me since my graduation in 1966 when I received my Bachelor of Arts (First Class Honours) degree in Economics from the University of Malaya. My working life began as a research assistant after my final year examinations and then as a tutor in the newly established Faculty of Economics and Administration (FEA) at the University of Malaya while working at the same time on my Master's degree. After receiving my Master of Economics degree in 1968 from the University of Malaya, I was appointed as Assistant Lecturer at FEA. I ...

  • liquidity risk management in Islamic banks_habib_adam.pdf.jpg
  • Chapter in Book


  • Authors: Dolgun, Muhammed Habib; Ng, Adam Boon Ka (2019)

  • After the global financial crisis, there are discussions in terms of liquidity risk management of banks, and in this context, many new tools, regulations, and mechanisms have been introduced by regulatory authorities. Islamic banks are also being governed by these tools and regulations. Liquidity risk is one of the important issues that needs attention in terms of resilience of Islamic banking sector. It can be defined as a shortcoming to cover financial liabilities and its management is related to managing the expected and unexpected cash outflows. A scrutiny of this important issue in an Islamic banking context is crucial to promoting efficiency, growth, and resilience of the Islami...

  • Islamic_corporate_finance_capital_structure_eskandar et al.pdf.jpg
  • Chapter in Book


  • Authors: Mohd Rasid, Mohamed Eskandar Shah; Uddin, Ajim; Chowdhury, Mohammad Ashraful Ferdous (2019)

  • The capital structure choices of a firm not only determine the current value of the firm, but also largely determine its long-term survival. Modigliani and Miller's seminal 1958 paper explicates conventional firms' capital structure choices. However, we are yet to develop a solid theoretical framework about the financing decisions of Islamic firms. This is a review chapter on current developments in the field of Islamic capital structure. The chapter starts with a short discussion about the various sources of capital and their advantages and disadvantages, followed by a detailed description of traditional capital structure theories and their real-world empirical evidence. Finally, it ...

  • chapter 9_shariah_committees_shariah_governance_Zulkarnain et al.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This chapter discusses some challenges of Shariah Committees In Islamic financial institutions in dispensing their responsibilities in mitigating the non-compliance risks. The concept of shariah governance has its foundation in the Qur'an and the Sunnah. Shariah (which literally means "the way") is the divinely ordained guidelines of conduct for Muslims in all aspects of their life, which includes financial matters. Any form of transaction, irrespective of financial or otherwise, must be free of any element of injustice to the transacting parties. For financial transactions, any elemerit or form of activity that could be construed as 'riba' or injustice to any of the participants in t...

  • chapter 11_conclusion_Zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain (2019)

  • Islamic finance industry has grown rapidly over the last few years, where the 2018 Islamic Finance Development Report by Thomson Reuters reported that the year on year growth by of 11% to US$2.4 trillion in assets in 2017 and predicted that it would grow to $3.8tn of assets by 2023 (Thomson Reuters, 2018). Realising the importance of the industry, this book examines various issues on Accounting and Governance of Islamic financial institutions. In fact, the unique feature of Islamic financ that is based on the shariah principle warrants critical examination on various issues relating to accounting of Islamic financial transactions. Basically, business dealings are prohibited to contain...

  • chapter 2_comparison_MASB_AAOIFI_Zulkarnain_Shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2019)

  • This chapter provides new findings to accounting and finance literature, where, it compares the conceptual framework of both of the MASB- and the AAOIFI- in the context of financial reporting of Islamic financial institutions (IFls). The conceptual framework or some authors referred as "accounting constitution" set the tone for a consistent accounting standards and become a reference point for developing future standards for financial accounting and reporting (Barker et al., 2014; Abela et al., 2014; Holzmann & Munter, 2014 (Sutton et al., 2015; Gebhardt et aI., 2014; Norby, 1977; Gore & Zimmerman, 2007). In this context, more than 120 countries (including major players in Islamic fin...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 182

Chapter in Book : [182]

Follow this collection to receive daily e-mail notification of new additions
Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 182
  • item.jpg
  • Chapter in Book


  • Authors: Mustapha, Zakariya; Muneeza, Aishath (2020)

  • As a charitable institution, waqf is envisaged as an inherent segment of the Islamic financial services industry with potential to develop into a market for Islamic social finance. While the industry records growth and development with huge profits in its banking, takaful and capital market segments, it has been observed that pursuit of profits has overshadowed social and financial equity goals and thus disproportionately promoted in Islamic finance. Yet, waqf, with over trillion dollars' worth assets to its credit to advance these goals, is neglected and the assets left undeveloped and idle due to governance issues. Thus, eligible beneficiaries of those assets in several Muslim natio...

  • item.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Maruf, Aminuddin (2020)

  • Historically speaking, waqf has played a remarkable role in economic growth and development of Muslim countries. Recently, the call for productive waqf has grown widely and its implementation shows significant impact in various Muslim societies. Interestingly, the revival of idle waqf properties and the creation of cash waqf are becoming economic drivers that will improve the welfare of Muslim societies. It is also surprising to discover the creation of waqf cities in different types such as the Hamdard Waqf City of Health in India, Pakistan and Bangladesh, Al-Rahmah Complex City in Somaliland and Darussalam Gontor Smart Waqf City for Education in Indonesia. The main objective of this...

  • Economic_social_impacts_sovereign_sukuk_Magda et al.jpg.jpg
  • Chapter in Book


  • Authors: Ismail Abdel Mohsin, Magda; Ishraga, Khattab; Alchaar, Mhd Osama (2020)

  • This chapter explores the economic and social impacts of sovereign sukuk in Sudan and its unique challenges. The first of its kind, this research collected primary data from different groups of investors of Sudanese governmental sukuk. Adopting a qualitative approach (interview questions and open and closed-ended surveys), four sets of questions were distributed to four groups (individual investors, institutional investors, government officials, and academics). The survey found that despite sukuk's influence in activating the economy and financial markets, and encouraging savings awareness, the market in Sudan is facing many challenges. Accordingly, it is recommended that sukuk issuan...

  • Takaful_Islamic_insurance_retakaful_microtakaful_Ezamshah.jpg.jpg
  • Chapter in Book


  • Authors: Ismail, Ezamshah; World Bank (2016)

  • Takaful, or mutual assistance, is the Islamic counterpart of conventional insurance. The word takaful is derived from an Arabic word kafalah, which means to guarantee. A group of participants agree to support one another jointly for the losses arising from specified risks. They contribute to a fund, and are compensated or reimbursed from that fund in the event of certain risks. The scheme is managed on the participants' behalf by a takaful operator. It is similar to a mutual insurance concept, but it complies with Shariah and is based on concepts of mutual solidarity and risk sharing.

  • Islamic_wealth_management_issues_waqf_management_Malaysia_Shamsher.pdf.jpg
  • Chapter in Book


  • Authors: Ramadili Mohd, Shamsher Mohamad; Ariff, Mohamed (2020)

  • This chapter briefly examines ideas from Islamic wealth management and waqf concepts to see if there are ways in which human welfare can be better managed on a community-action level without the visible hands of the government. To do this, authors first examine the concept of Islamic wealth management, and then provide some discussion on how waqf assets already in place in all Islamic countries could be mobilised to meet the needs of communities for sustainable economic development as well as fairer ways of looking after the needs of the have-nots of societies.

  • item.jpg
  • Chapter in Book


  • Authors: Muneeza, Aishath (2014)

  • This chapter aims to explore the Shari'ah governance rules applied in the Malaysian Islamic banking arena and the effect of Islamic Financial Services Act 2013 on it. This is a legal exploratory study primarily focused on library research. Shari'ah governance is a concept that have been developed and applied gradually in Malaysia and the new Islamic Financial Services Act 2013 has taken it to the next level. However, this does not mean that it has resolved the problems in Shari'ah governance that existed before the enactment of the act.

  • 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...

  • post-default_sukuk_restructuring_appraisal_Shariah issues_aishath et al.pdf.jpg
  • Chapter in Book


  • Authors: Ahmad, Abu Umar Faruq; Muneeza, Aishath; Farooq, Mohammad Omar; Hasan, Rashedul (2019)

  • Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari'ah requirements of transferring assets to Sukuk holders in asset-based Sukuk, the originator usually transfers the beneficial ownership to the issuer special purpose vehicles (SPV). However, in asset-backed Sukuk, the originator sells the underlying asset to an SPV and Sukuk holders do not have recourse to the originator in the event of defaults. Among some key unresolved Shari'ah issues in this regard is whether a change of contract necessitates entering a new contract. Other related issues that conflict with the tenets of Shari'ah are: (1) Sukuk structuri...

  • blockchain_its_Shariah_compliant_structure_aishath et al.pdf.jpg
  • Chapter in Book


  • Authors: Muneeza, Aishath; Mustapha, Zakariya (2019)

  • Islamic finance has gained momentum in the world today. Irrespective of faith conviction, it has been accepted as a mode of financing in the world. The development of Islamic finance was gradual in the past. At the initial stage of its development, Islamic finance was concerned more with Shariah compliance of transactions and contracts used in it. Subsequently, focus was realigned on Shariah harmonisation with respect to juristic views and Shariah governance. Islamic finance encompasses some fundamental religious prohibitions and the promotion of certain virtues enshrined in Islam, to be observed in all ramifications of business dealings, including services provision. Therefore, Islam...

  • effects_shadow_economy_on_poverty_baharom et al.pdf.jpg
  • Chapter in Book


  • Authors: Nikopour, Hesam; Habibullah, Muzafar Shah; Din, Badariah H.; Baharom, Abdul Hamid (2019)

  • Poverty alleviation is at the top of the Millennium Development Goals' (MDGs) list of eight goals. In the year 2000, nearly all heads of states and governments met and reaffirmed their faith in the United Nations (UN) as necessary foundations of a more peaceful, prosperous and just world. At this meeting, the MDGs were adopted which the first goal is eradicate extreme poverty and hunger. The question of how to finance poverty reduction measures has been a major concern for policy makers and international organizations for many years. Although it is useful to focus on the quantity and quality of foreign aid and development assistance of donor communities, it is not the solution. In the...

  • capital_structure_Shariah_compliance_firms_Malaysian_evidence_obiyathulla et al.pdf.jpg
  • Chapter in Book


  • Authors: Abdul Halim, Asyraf; Abd Sukor, Mohd Edil; Bacha, Obiyathulla Ismath (2019)

  • In the literature of corporate finance, there exists alongside others, an age long inquiry into the behaviour and determinants of corporate capital structure. The study into capital structure behaviour was pioneered by Modigliani and Miller (1958, 1963) and which is still widely research today. Despite years of research, much are still unknown to us, which determinants are reliable explanator of capital structure variations across firms and time. In 1984, Stewart C. Myers officially introduced the "Capital Structure Puzzle" in his American Finance Association Presidential Speech. The capital structure puzzle at its heart asks the question of how do firms decide and manage their capita...

  • Dividend_policy_case_shariah_compliant_firms_shamsher et al.pdf.jpg
  • Chapter in Book


  • Authors: Anwer, Zaheer; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah; Hassan, M. Kabir; Paltrinieri (2019)

  • Capital structure serves as an important device for mitigation of agency conflicts and, although firms combine debt and cash dividends to address the agency conflicts, debt is preferred as a bonding device by many managers due to its lower cost as compared to equity (John, Knyazeva & Knyazeva, 2015). However, shariah-compliant firms (SCF) cannot use this device due to prohibition of interest-bearing loans in Islam. In this scenario, the dividend payout policy becomes a highly important tool of corporate governance for shariah-compliant investors. Moreover, the managers of these firms cannot maintain stable dividends by issuing bonds and, therefore, the dividend policy of such firms wo...

  • item.jpg
  • Chapter in Book


  • Authors: Ali, Mohsin; Oravampurath, Hasanul Banna; Ziyaad, Mahomed (2020)

  • This chapter examines the economic impact of the migrants' return to Kerala, India during the Gulf oil crisis 2014-2016. Many migrants returned to their homeland during the crisis because they could not find work in the Middle East. The Kerala economy confronted this as one of the biggest threats which directly affected the economy. Almost USD 900 million had been brought to the homeland as remittance from Non-Residential Keralites (NRKs) working in Gulf countries. But the return of a large number of NRKs decreased the remittances to 10-15%. This chapter proposes Social Impact Sukuk to support the migrants who are back to their homelands from GCC countries. Data and information are co...

  • Is_there_cost_for_faith_based_investing_shamsher et al.pdf.jpg
  • Chapter in Book


  • Authors: Anwer, Zaheer; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • Investment is an activity that involves the commitment of resources for a certain holding period in anticipation of creating more resource (wealth). This chapter focuses on the risk-adjusted performance of two-specific classes of assets, namely, the socially responsible investment (SRI) class and the shariah-compliant classes of assets. The aim is to ascertain whether investors have to bear an extra cost for choosing these classes of assets in their portfolio. In managing the Islamic finance space, religiosity and/or ethical practices prompt investors to discard so-called 'sin-stocks' and limit their investment horizons to permissible faith-based investment alternatives ...

  • what_retirement_Ariff.pdf.jpg
  • Chapter in Book


  • Authors: Abdul Kareem, Mohamed Ariff (2018)

  • Technically, I have "retired" twice and am still working fulltime before "retiring" again sometime in the future for the third time. It has always been a busy life for me since my graduation in 1966 when I received my Bachelor of Arts (First Class Honours) degree in Economics from the University of Malaya. My working life began as a research assistant after my final year examinations and then as a tutor in the newly established Faculty of Economics and Administration (FEA) at the University of Malaya while working at the same time on my Master's degree. After receiving my Master of Economics degree in 1968 from the University of Malaya, I was appointed as Assistant Lecturer at FEA. I ...

  • liquidity risk management in Islamic banks_habib_adam.pdf.jpg
  • Chapter in Book


  • Authors: Dolgun, Muhammed Habib; Ng, Adam Boon Ka (2019)

  • After the global financial crisis, there are discussions in terms of liquidity risk management of banks, and in this context, many new tools, regulations, and mechanisms have been introduced by regulatory authorities. Islamic banks are also being governed by these tools and regulations. Liquidity risk is one of the important issues that needs attention in terms of resilience of Islamic banking sector. It can be defined as a shortcoming to cover financial liabilities and its management is related to managing the expected and unexpected cash outflows. A scrutiny of this important issue in an Islamic banking context is crucial to promoting efficiency, growth, and resilience of the Islami...

  • Islamic_corporate_finance_capital_structure_eskandar et al.pdf.jpg
  • Chapter in Book


  • Authors: Mohd Rasid, Mohamed Eskandar Shah; Uddin, Ajim; Chowdhury, Mohammad Ashraful Ferdous (2019)

  • The capital structure choices of a firm not only determine the current value of the firm, but also largely determine its long-term survival. Modigliani and Miller's seminal 1958 paper explicates conventional firms' capital structure choices. However, we are yet to develop a solid theoretical framework about the financing decisions of Islamic firms. This is a review chapter on current developments in the field of Islamic capital structure. The chapter starts with a short discussion about the various sources of capital and their advantages and disadvantages, followed by a detailed description of traditional capital structure theories and their real-world empirical evidence. Finally, it ...

  • chapter 9_shariah_committees_shariah_governance_Zulkarnain et al.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad; Mohd Rasid, Mohamed Eskandar Shah (2019)

  • This chapter discusses some challenges of Shariah Committees In Islamic financial institutions in dispensing their responsibilities in mitigating the non-compliance risks. The concept of shariah governance has its foundation in the Qur'an and the Sunnah. Shariah (which literally means "the way") is the divinely ordained guidelines of conduct for Muslims in all aspects of their life, which includes financial matters. Any form of transaction, irrespective of financial or otherwise, must be free of any element of injustice to the transacting parties. For financial transactions, any elemerit or form of activity that could be construed as 'riba' or injustice to any of the participants in t...

  • chapter 11_conclusion_Zulkarnain.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain (2019)

  • Islamic finance industry has grown rapidly over the last few years, where the 2018 Islamic Finance Development Report by Thomson Reuters reported that the year on year growth by of 11% to US$2.4 trillion in assets in 2017 and predicted that it would grow to $3.8tn of assets by 2023 (Thomson Reuters, 2018). Realising the importance of the industry, this book examines various issues on Accounting and Governance of Islamic financial institutions. In fact, the unique feature of Islamic financ that is based on the shariah principle warrants critical examination on various issues relating to accounting of Islamic financial transactions. Basically, business dealings are prohibited to contain...

  • chapter 2_comparison_MASB_AAOIFI_Zulkarnain_Shamsher.jpg.jpg
  • Chapter in Book


  • Authors: Muhamad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2019)

  • This chapter provides new findings to accounting and finance literature, where, it compares the conceptual framework of both of the MASB- and the AAOIFI- in the context of financial reporting of Islamic financial institutions (IFls). The conceptual framework or some authors referred as "accounting constitution" set the tone for a consistent accounting standards and become a reference point for developing future standards for financial accounting and reporting (Barker et al., 2014; Abela et al., 2014; Holzmann & Munter, 2014 (Sutton et al., 2015; Gebhardt et aI., 2014; Norby, 1977; Gore & Zimmerman, 2007). In this context, more than 120 countries (including major players in Islamic fin...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 182