Industry Article : [77]

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Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 77
  • waqf_share_schemes_and_you_magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2018)

  • The waqf share scheme is one of the most versatile Islamic social finance tools that have emerged in the 21st century, and has been practised in many Muslim and Muslim-minority countries, according to Dr Murat Cizakca, Professor, Comparative Economics History, Global.

  • Islamic_finance_grasping_with_price_and_profit_theory_saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • The Halal industry comprising of bank and non-banking firms is hardly visible in theoretical rigor except for the Shariah rules it promotes to exert religious labelling. While Islamic banks pay greater attention the elimination of riba, gambling and ambiguities in financing contracts to claim Shariah legitimacy, non-banking companies are more concerned about halal slaughtering, avoidance of pork in the production process, prevention of food adulteration, promoting hygiene in food preparation and many more.

  • how_to_expand_role_islamic_banking_trading_saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • Ever since the establishment of Islamic banks in the 1970s, the difficulty in executing actual buy and sell transactions as the Quran commanded in the verse "Allah has permitted al-bay but prohibits riba" (Al-Baqarah 275) has spurred the industry into using questionable products that resemble interest-bearing loans as evident now in tawaruq munazzam and earlier in bay al-enah. Much of this unfortunate development in Islamic banking has to do with its deposit-taking function. Doing so requires the bank to follow stringent Basel Accord capital requirement against any risky positions it took in the business such as equity, leasing and trading positions. The trading business, namely buy a...

  • Waqfcoin_an_innovation_to_serve_humanity_magda_aishath.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2018)

  • Serving humanity must be an objective of all human beings. There are many ways in which humanity can be served. One of the most convenient ways to do this is via donation. The most critical challenge facing the donors is uncertainty in knowing whether the donation is spent on the intended purpose. The lack of transparency by trustees managing donation funds have created lack of trust among the donors when it comes to donating for humanity. The Islamic concept of Waqf in which donations are made for noble causes faces the same issue as well. This is the main reason why Waqf is declining in today's era, where finding donors is a challenge. According to reports, Singapore-based fintech f...

  • Enhancing_application_of_musharakah_through_blockchain_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath; Jin, Zichu; Abdul Razak, Iman Najwa (2018)

  • Islamic banks are still relying on debt-like modes of financing since most equity based finances need long term commitment. The basic principle of Islamic banking is the sharing of profit and loss and the prohibition of riba (interest).Additionally, PLS arrangements have been specifically acknowledged as ideal modes of financing in Islamic finance. But to date, the actual practice of Islamic banking has been far removed from these models. Nearly all Islamic banks, investment companies, and investment funds offer trade and project finance based on mark-up, commissioned manufacturing, or on leasing bases. There is not much difference in substance between IFIs and conventional financial ...

  • An_introduction_to_cash_waqf_Aishath.pdf.jpg
  • Industry Article


  • Authors: Fikry, Mohammad Aly; Mohamed Hadary, Mohamed Serilkhetim; Muneeza, Aishath (2018)

  • Cash waqf is a type of waqf categorized as movable waqf. Like other waqf, cash waqf aims to promote service to mankind by establishing waqf using money. Historically, cash waqf was widely used by the Ottoman Empire since the end of 16th century. At that time, cash waqf was used to finance entrepreneurs for their business, and then the return was used for public service such as hospitalization, education, water channelling, bridges, roads, etc. Cash waqf played an important role in the economy of the empire.

  • The_impact_of_delisting_Shariah_compliant_stocks_on_Islamic_investments_Saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • Islamic investments as a critical component of the Halal supply chain received considerable attention in the global financial market when the Dow Jones Islamic market Index (DJIM) was established in 1999, followed by Financial Times Stock Exchange (FTSE), Standard and Poor (S&P) and others. Malaysia took global leadership in the construction of Shariah Indices in 1999 and launched the FTSE Bursa Malaysia Emas Shariah Index in 2007. One fundamental feature of the Shariah Indices is the screening process before the stock can be identified as Shariah compliant. The screening methodology differs to some degree among the major Shariah stock indices but essentially settle to affirm consensu...

  • Weapon_to_end_poverty_closing_the_gender_wealth_gap_with_Islamic_wealth_management_aishath.PDF.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Women represent more than half of the world's population, and make 40% of the world's labour force. Yet, according to the World Bank, they hold just 1% of the world's wealth. The sizable gender wealth gap is even more stark for women in developing countries, where they are more likely than men to do unpaid work, or be out of the workforce, more likely to work in industries with lower average pay, and less likely to be in high-paid senior positions, according to the World Economic Forum's Global Gender Gap Index 2017.

  • Women_empowerment_in_Islamic_finance_industry_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Women empowerment is often associated with feminism. The moment a woman voices out issues on gender equality, there is a general perception that she is talking about compromising of quality and competency and arguing for undue career development and its progression in favour of women. This is indeed not the case and this is not what women are advocating for.

  • Small_island _nation_aspiring_to_spearhead_Islamic_finance_in_South_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2017)

  • Share of Islamic banking in the national banking sector of the Maldives is reaching 5%. Despite this, the Maldives has not featured in ISFIRE previously. In fact, it has not been even ranked in Islamic Finance Country Index (IFCI), published by our yearbook, Global Islamic Finance Report (GIFR). This is an important exclusion, as the country has been involved in Islamic banking and finance for more than 14 years. This article should serve as a prelude to a country report that will be included in GIFR 2018, to be published in March 2018.

  • Takaful_Malaysia_need_balancing_act_ezamshah.pdf.jpg
  • Industry Article


  • Authors: Ismail, Ezamshah (2017)

  • The general and family takaful sectors in Malaysia have showed positive growth. Based on the Malaysian Takaful Association (MTA) 2017 figures, the total combined assets of the industry has risen to MYR26.9 billion in 2016. Family takaful penetration declined slightly to 14.6% in 2016 compared to 14.71% in 2015.

  • Islamic_project_financing_saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2005)

  • There are numbers of things one should consider to better understand project financing from an Islamic perspective. Most are interested in examining the nature and structure of Islamic instruments used to mobilise the capital needed by a project company. Structuring an Islamic bond (sukuk) is becoming more challenging among investment bankers. Most popular are the Al-bai bithaman ajil bonds (BAIDS) and murabaha notes issuance facility (MuNif)

  • New_strategic_directions_to_be_formulated_for_Islamic_capital_market_development_in_Maldives_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Capital Market Development Authority (CMDA), the Maldivian regulatory authority for the Islamic capital market (ICM), has stared work to formulate the ICM Strategic plan 2015-20. The primary strategies formulated include: enhance the depth of Islamic capital market products and services, strenghten the Capital Market Shariah Advisory Committee.

  • Findings_of_the_Sukuk_market_development_project_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2013)

  • Though the Maldives is a 100% Muslim country, the financial system of the country is still based on conventional methods and laws. The formal initiative to develop an Islamic capital market in the country was initiated by the Capital Market Development Authority (CDMA) in 2011. But even before 2011, the IDB has been a key driving force behind establishing an Islamic bank in the Maldives.

  • 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_Maldives_unique_breeding_ground_for_Islamic_finance_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2013)

  • The Maldives is a small island nation and also the lowest country in the world, with a maximum natural ground level of only 2.4 meters, situated in the Indian Ocean. The country consists of more than 1,900 coral islands which are geographically dispersed in the sea, spreading over some 90,000 square kilometers.

  • Challenges_facing_the_Islamic_finance_industry_in_the_Maldives_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2012)

  • The Maldives is a country with limited resources. The lifeline of the economy is fishing and the golden goose of the country is tourism. The country also heavily depends on importation of goods. The financial system of the Maldives is based on conventional rules and laws. The financial and the economic system of the country are based on conventional economics and financial principles.

  • Maldives_hub_Islamic_finance_south_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Maldives is a hundred percent Muslim country with a population of less than four hundred thousand. The country has a unique geography as it consists of 1,190 islands scattered in the Indian ocean. According to Article 2 of the Constitution of Maldives, Maldives is a sovereign, independent, democratic Republic based on the principles of Islam, and is a unitary State, to be known as the Republic of Maldives. According to Article 9 (d) of the Constitution of Maldives, a non-Muslim will not become a citizen of Maldives even if the person fulfills all the conditions to become a citizen of Maldives as prescribed in the Constitution. Article 10 of the Constitution states that the religion of...

  • Maldives_to_establish_Islamic_finance_center_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • Capital Market Development Authoriy has drafted a proposal to establish an Islamic Finance Center in the Maldives which will not only act as a Islamic banking and finance capacity building institute, but it will also act as to further expand Islamic finance industry in the Maldives and in the South Asian Associatian for Regional Cooperation (SAARC) region.

  • Maldives_proved_that_nothing_is_impossible_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Maldives is a 100% Muslim nation where Islamic finance is emerging as a proxy to the existing conventional system which has been in the country from an immemorial time. The first form of Islamic finance that was adopted in the country was Takaful. In 2003, the first Takaful company was established in the country under a conventional insurance license. In 2011 only, Islamic banking and Islamic capital market services were introduced to the country. Since then Islamic finance in the country has been spreading like wild-fire. The government has also realized the importance of Islamic finance in resolving economic and financial problems. As such Islamic finance has been considered as ...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 77

Industry Article : [77]

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 77
  • waqf_share_schemes_and_you_magda.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2018)

  • The waqf share scheme is one of the most versatile Islamic social finance tools that have emerged in the 21st century, and has been practised in many Muslim and Muslim-minority countries, according to Dr Murat Cizakca, Professor, Comparative Economics History, Global.

  • Islamic_finance_grasping_with_price_and_profit_theory_saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • The Halal industry comprising of bank and non-banking firms is hardly visible in theoretical rigor except for the Shariah rules it promotes to exert religious labelling. While Islamic banks pay greater attention the elimination of riba, gambling and ambiguities in financing contracts to claim Shariah legitimacy, non-banking companies are more concerned about halal slaughtering, avoidance of pork in the production process, prevention of food adulteration, promoting hygiene in food preparation and many more.

  • how_to_expand_role_islamic_banking_trading_saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • Ever since the establishment of Islamic banks in the 1970s, the difficulty in executing actual buy and sell transactions as the Quran commanded in the verse "Allah has permitted al-bay but prohibits riba" (Al-Baqarah 275) has spurred the industry into using questionable products that resemble interest-bearing loans as evident now in tawaruq munazzam and earlier in bay al-enah. Much of this unfortunate development in Islamic banking has to do with its deposit-taking function. Doing so requires the bank to follow stringent Basel Accord capital requirement against any risky positions it took in the business such as equity, leasing and trading positions. The trading business, namely buy a...

  • Waqfcoin_an_innovation_to_serve_humanity_magda_aishath.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda; Muneeza, Aishath (2018)

  • Serving humanity must be an objective of all human beings. There are many ways in which humanity can be served. One of the most convenient ways to do this is via donation. The most critical challenge facing the donors is uncertainty in knowing whether the donation is spent on the intended purpose. The lack of transparency by trustees managing donation funds have created lack of trust among the donors when it comes to donating for humanity. The Islamic concept of Waqf in which donations are made for noble causes faces the same issue as well. This is the main reason why Waqf is declining in today's era, where finding donors is a challenge. According to reports, Singapore-based fintech f...

  • Enhancing_application_of_musharakah_through_blockchain_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath; Jin, Zichu; Abdul Razak, Iman Najwa (2018)

  • Islamic banks are still relying on debt-like modes of financing since most equity based finances need long term commitment. The basic principle of Islamic banking is the sharing of profit and loss and the prohibition of riba (interest).Additionally, PLS arrangements have been specifically acknowledged as ideal modes of financing in Islamic finance. But to date, the actual practice of Islamic banking has been far removed from these models. Nearly all Islamic banks, investment companies, and investment funds offer trade and project finance based on mark-up, commissioned manufacturing, or on leasing bases. There is not much difference in substance between IFIs and conventional financial ...

  • An_introduction_to_cash_waqf_Aishath.pdf.jpg
  • Industry Article


  • Authors: Fikry, Mohammad Aly; Mohamed Hadary, Mohamed Serilkhetim; Muneeza, Aishath (2018)

  • Cash waqf is a type of waqf categorized as movable waqf. Like other waqf, cash waqf aims to promote service to mankind by establishing waqf using money. Historically, cash waqf was widely used by the Ottoman Empire since the end of 16th century. At that time, cash waqf was used to finance entrepreneurs for their business, and then the return was used for public service such as hospitalization, education, water channelling, bridges, roads, etc. Cash waqf played an important role in the economy of the empire.

  • The_impact_of_delisting_Shariah_compliant_stocks_on_Islamic_investments_Saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2018)

  • Islamic investments as a critical component of the Halal supply chain received considerable attention in the global financial market when the Dow Jones Islamic market Index (DJIM) was established in 1999, followed by Financial Times Stock Exchange (FTSE), Standard and Poor (S&P) and others. Malaysia took global leadership in the construction of Shariah Indices in 1999 and launched the FTSE Bursa Malaysia Emas Shariah Index in 2007. One fundamental feature of the Shariah Indices is the screening process before the stock can be identified as Shariah compliant. The screening methodology differs to some degree among the major Shariah stock indices but essentially settle to affirm consensu...

  • Weapon_to_end_poverty_closing_the_gender_wealth_gap_with_Islamic_wealth_management_aishath.PDF.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Women represent more than half of the world's population, and make 40% of the world's labour force. Yet, according to the World Bank, they hold just 1% of the world's wealth. The sizable gender wealth gap is even more stark for women in developing countries, where they are more likely than men to do unpaid work, or be out of the workforce, more likely to work in industries with lower average pay, and less likely to be in high-paid senior positions, according to the World Economic Forum's Global Gender Gap Index 2017.

  • Women_empowerment_in_Islamic_finance_industry_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Women empowerment is often associated with feminism. The moment a woman voices out issues on gender equality, there is a general perception that she is talking about compromising of quality and competency and arguing for undue career development and its progression in favour of women. This is indeed not the case and this is not what women are advocating for.

  • Small_island _nation_aspiring_to_spearhead_Islamic_finance_in_South_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2017)

  • Share of Islamic banking in the national banking sector of the Maldives is reaching 5%. Despite this, the Maldives has not featured in ISFIRE previously. In fact, it has not been even ranked in Islamic Finance Country Index (IFCI), published by our yearbook, Global Islamic Finance Report (GIFR). This is an important exclusion, as the country has been involved in Islamic banking and finance for more than 14 years. This article should serve as a prelude to a country report that will be included in GIFR 2018, to be published in March 2018.

  • Takaful_Malaysia_need_balancing_act_ezamshah.pdf.jpg
  • Industry Article


  • Authors: Ismail, Ezamshah (2017)

  • The general and family takaful sectors in Malaysia have showed positive growth. Based on the Malaysian Takaful Association (MTA) 2017 figures, the total combined assets of the industry has risen to MYR26.9 billion in 2016. Family takaful penetration declined slightly to 14.6% in 2016 compared to 14.71% in 2015.

  • Islamic_project_financing_saiful.pdf.jpg
  • Industry Article


  • Authors: Rosly, Saiful Azhar (2005)

  • There are numbers of things one should consider to better understand project financing from an Islamic perspective. Most are interested in examining the nature and structure of Islamic instruments used to mobilise the capital needed by a project company. Structuring an Islamic bond (sukuk) is becoming more challenging among investment bankers. Most popular are the Al-bai bithaman ajil bonds (BAIDS) and murabaha notes issuance facility (MuNif)

  • New_strategic_directions_to_be_formulated_for_Islamic_capital_market_development_in_Maldives_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Capital Market Development Authority (CMDA), the Maldivian regulatory authority for the Islamic capital market (ICM), has stared work to formulate the ICM Strategic plan 2015-20. The primary strategies formulated include: enhance the depth of Islamic capital market products and services, strenghten the Capital Market Shariah Advisory Committee.

  • Findings_of_the_Sukuk_market_development_project_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2013)

  • Though the Maldives is a 100% Muslim country, the financial system of the country is still based on conventional methods and laws. The formal initiative to develop an Islamic capital market in the country was initiated by the Capital Market Development Authority (CDMA) in 2011. But even before 2011, the IDB has been a key driving force behind establishing an Islamic bank in the Maldives.

  • 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_Maldives_unique_breeding_ground_for_Islamic_finance_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2013)

  • The Maldives is a small island nation and also the lowest country in the world, with a maximum natural ground level of only 2.4 meters, situated in the Indian Ocean. The country consists of more than 1,900 coral islands which are geographically dispersed in the sea, spreading over some 90,000 square kilometers.

  • Challenges_facing_the_Islamic_finance_industry_in_the_Maldives_Aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2012)

  • The Maldives is a country with limited resources. The lifeline of the economy is fishing and the golden goose of the country is tourism. The country also heavily depends on importation of goods. The financial system of the Maldives is based on conventional rules and laws. The financial and the economic system of the country are based on conventional economics and financial principles.

  • Maldives_hub_Islamic_finance_south_Asia_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2018)

  • Maldives is a hundred percent Muslim country with a population of less than four hundred thousand. The country has a unique geography as it consists of 1,190 islands scattered in the Indian ocean. According to Article 2 of the Constitution of Maldives, Maldives is a sovereign, independent, democratic Republic based on the principles of Islam, and is a unitary State, to be known as the Republic of Maldives. According to Article 9 (d) of the Constitution of Maldives, a non-Muslim will not become a citizen of Maldives even if the person fulfills all the conditions to become a citizen of Maldives as prescribed in the Constitution. Article 10 of the Constitution states that the religion of...

  • Maldives_to_establish_Islamic_finance_center_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • Capital Market Development Authoriy has drafted a proposal to establish an Islamic Finance Center in the Maldives which will not only act as a Islamic banking and finance capacity building institute, but it will also act as to further expand Islamic finance industry in the Maldives and in the South Asian Associatian for Regional Cooperation (SAARC) region.

  • Maldives_proved_that_nothing_is_impossible_aishath.pdf.jpg
  • Industry Article


  • Authors: Muneeza, Aishath (2014)

  • The Maldives is a 100% Muslim nation where Islamic finance is emerging as a proxy to the existing conventional system which has been in the country from an immemorial time. The first form of Islamic finance that was adopted in the country was Takaful. In 2003, the first Takaful company was established in the country under a conventional insurance license. In 2011 only, Islamic banking and Islamic capital market services were introduced to the country. Since then Islamic finance in the country has been spreading like wild-fire. The government has also realized the importance of Islamic finance in resolving economic and financial problems. As such Islamic finance has been considered as ...

Collection's Items (Sorted by Submit Date in Descending order): 1 to 20 of 77