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Author : Kunjn KC
Publisher : Lulu.com
Page : 59 pages
File Size : 50,7 Mb
Release : 2024-07-01
Category : Electronic
ISBN : 9781446626634
Author : Abdelrahman Elzahi
Publisher : ISLAMIC RESEARCH AND TRAINING INSTITUTE
Page : 264 pages
File Size : 44,7 Mb
Release : 2016-12-31
Category : Business & Economics
ISBN : 9789960323046
This book is a compilation of papers presented in a thematic workshop on business models in Islamic microfinance, organized by International Islamic University Islamabad, Islamic Research and Training Institute (IRTI), and Agricultural Bank of Sudan. The objective of the workshop was to discuss specific Islamic microfinance business models and best practices, as well as the most advanced experiences at the international level.
Author : Yasushi Suzuki,Mohammad Dulal Miah
Publisher : Routledge
Page : 227 pages
File Size : 44,5 Mb
Release : 2018-03-09
Category : Business & Economics
ISBN : 9781351601856
The phenomenal growth of Islamic finance in the last few decades has been accompanied by a host of interesting questions and challenges. One of the critical challenges is how Islamic financial institutions can be motivated to participate in the 'equity-like' profit-and-loss sharing (PLS) contracts. It is observed that Islamic banks are reluctant to participate in the pure PLS scheme which is manifested by the rising concentration of investment on murabaha or mark-up financing. This phenomenon has been the hotbed of academic criticism on the contemporary practice of Islamic banking. This book explains the 'murabaha syndrome' in light of the incentive provided by the current institutional framework and what are the changes required in the governance structure to mend this anomaly.
Author : Mr.Enrique Gelbard,Mr.Mumtaz Hussain,Mr.Rodolfo Maino,Mr.Yibin Mu,Mr.Etienne B. Yehoue
Publisher : International Monetary Fund
Page : 27 pages
File Size : 41,9 Mb
Release : 2014-08-11
Category : Business & Economics
ISBN : 9781498375276
Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA. Ongoing activities include Islamic banking, sukuk issuances (to finance infrastructure projects), Takaful (insurance), and microfinance. While not yet significant in most Sub-Saharan countries, several features make Islamic finance instruments relevant to the region, in particular the ability to foster SMEs and micro-credit activtities. As a first step, policy makers could introduce Islamic financing windows within the conventional system and facilitate sukuk issuance to tap foreign investors. The entrance of full-fleged Islamic banks require addressing systemic issues, and adapting the crisis management and resolution frameworks. The IMF can play a role by sharing international experiences and providing advice on supervisory and regulatory frameworks as needed.
Author : Nafis Alam,Syed Nazim Ali
Publisher : Springer Nature
Page : 257 pages
File Size : 44,9 Mb
Release : 2020-11-28
Category : Business & Economics
ISBN : 9783030492489
The banking and financial landscape has been inundated with technology over the last decade, with FinTech, InsurTech and RegTech being just some of the new applications within finance. In the Gulf Cooperation Council (GCC), FinTech is yet to find its feet despite several digital transformation drives initiated by the regional governments in the UAE and Bahrain. In comparison to conventional finance, the use of FinTech within Islamic financial institutions (IFIs) in GCC countries is still in its very early stages. However, the potential disruption that technology may cause for the Islamic finance sector within this region cannot be underestimated. Aiming to highlight, examine and address key strategic, operational and regulatory issues facing IFIs as they make an effort to keep up with the FinTech revolution, this book explores the market positioning, product structure and placement, delivery channels and customer requirements within the GCC market. The authors evaluate the current situation and look forward to future regulation surrounding technology and financial institutions within the GCC. Scholars and students researching Islamic finance and financial technology will find this book an insightful and valuable read, as well as those interested in international finance more generally.
Author : Hussain Mohi ud Din Qadri,Hassnian Ali
Publisher : Walter de Gruyter GmbH & Co KG
Page : 174 pages
File Size : 43,8 Mb
Release : 2024-05-20
Category : Business & Economics
ISBN : 9783111414522
Islamic microfinance is one of the most important sectors of Islamic social finance, which plays a very important role in curbing poverty and improving the standard of living, per capita income, employment level as well as achieving Maqasid al-Shariah, profitability and sustainability. This role of Islamic microfinance has become more crucial in the pandemic period. It has been clearly witnessed in developing countries such as Pakistan and Bangladesh, how Islamic microfinance institutions helped deprived and affected communities during the pandemic. Another important development during the pandemic was the introduction of blended models of Islamic microfinance such as waqf-based Islamic microfinance, a zakat-based model and the combination of Islamic commercial and social finance. Islamic microfinance institutions also aim to harness the power of digitalization and fintech, but they need to consider the necessary success factors to realize and gain the real benefits of technology. There are some major challenges related to regulations, management issues, lack of skilled human resources, a wide digital divide and low level of financial literacy in developing countries. These challenges need to be addressed to ensure stability, steady growth and sustainability in the sector. This book is a compendium on Islamic microfinance, including case studies from seven jurisdictions and prospects for the sector. The book will be a major contribution to the literature of Islamic economics and finance and a guide of equal importance for students, academics, institutions, regulators, fintechs, policy makers and the general public.
Author : S. Nazim Ali
Publisher : Routledge
Page : 317 pages
File Size : 52,7 Mb
Release : 2013-03-01
Category : Business & Economics
ISBN : 9781136671296
In the recent past, Islamic finance has made an impressive case on the banking scene by becoming an alternative to the popular conventional financial systems, spurring a lively academic debate on how the Islamic finance industry can expand its services to cover the poor. Several propositions have been aired which suggest that the Islamic finance industry should consider developing an efficient Shari‘a compliant microfinance model. This book brings together original contributions from leading authorities on the subject of Shari‘a Compliant Microfinance (Islamic Microfinance) to propose innovative solutions and models by carefully studying experiments conducted in various countries. Where critiques of the current microfinance concepts, methods, regulatory measures and practices have often revolved around its practice of charging very high interest, this book discusses the several models that draw on both theory and case studies to provide a sustainable Shari‘a compliant alternative. Arguing that while Islamic finance might have made a remarkable contribution in the financial markets, there remains a big question with regards to its social relevance, the book provides new perspectives and innovative solutions to issues facing the Islamic microfinance industry. A comprehensive reference book for anyone wanting to learn more about Shari‘a Compliant Microfinance, this book will also be of use to students and scholars of microfinance, Islamic finance, and to anyone interested in learning about ethical and socially responsible businesses.
Author : Dr. Saad Al-Harran, Alfred Yong Foh Se
Publisher : Xlibris Corporation
Page : 83 pages
File Size : 47,9 Mb
Release : 2008-09-25
Category : Business & Economics
ISBN : 9781477175408
Currently there is limited application of Islamic microfinance instruments in Brunei Darussalam in the business and banking industries. The main objective of the exploratory study on the potentiality of Islamic microfinancing in the handicraft industry is to encourage students pursuing the Master in Islamic Banking and Finance (MIBF) program to apply the Islamic finance to real life situations. This exploratory applied research has allowed students the opportunity to appreciate the potentialities of Islamic microfinance in assisting the development of microbusinesses especially in the rural areas in Brunei Darussalam.
Author : Mr. Mumtaz Hussain,Asghar Shahmoradi,Rima Turk
Publisher : International Monetary Fund
Page : 35 pages
File Size : 52,9 Mb
Release : 2015-06-02
Category : Business & Economics
ISBN : 9781513565620
Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.
Author : M. Kabir Hassan,Mehmet Saraç,Ashraf Khan
Publisher : Springer Nature
Page : 395 pages
File Size : 41,9 Mb
Release : 2021-08-13
Category : Business & Economics
ISBN : 9783030760168
The book is a collection of chapters discussing the Sustainable Development Goals in the broader context of Islamic finance along with mapping the SDGs with Maqasid Al-Shariah. It provides a framework for both Muslim and non-Muslim countries to develop a sustainable economy which encompasses not only the concept of the welfare state but also supports development-related activities, ensures financial inclusion through equal distribution of wealth and alleviation of poverty, and protects the overall environmental and ecological system. More specifically, this book explores various aspects of Islamic finance in relation to parameters of SDGs; restructuring of Islamic finance and connecting its dots in the light of SDGs; Islamic perspective on ESG and ecological quality; interest-free tools and modernization of Islamic financial institutions for sustainable development and economic stability; and the role of Islamic finance in infrastructure-related development activities. Consistent with the view that SDGs are embedded within the theme of Islamic finance, this book is specifically designed to meet the needs of key regulatory institutions, academic scholars, and industry practitioners both in the field of Islamic finance and sustainable finance.
Author : Gan Christopher,Nartea Gilbert
Publisher : World Scientific
Page : 392 pages
File Size : 55,6 Mb
Release : 2017-03-27
Category : Business & Economics
ISBN : 9789813147966
Lack of credit access is severe in low income and poor families that are normally considered to have fewer opportunities to borrow from banks due to insufficient valuable assets for collateral. These low-income households face limited opportunity to acquire new technology and working capital for agricultural production and thus tend to fall behind. As a result, providing access to finance to low-income rural households has been considered an important component of any rural development strategy. Microfinance programmes, in particular, have been gradually embedded in national strategies of many developing countries as they are poverty-focused. They aim to facilitate the access to financial services such as credit for the poor who are usually disadvantaged in terms of access to conventional financial services from formal financial institutions. The objective of this book is to provide an overview of microfinance programmes in Asia focusing in particular on the determinants of the accessibility of rural households to microcredit. The book studies seven Asian countries such as China, Malaysia, Vietnam, Thailand, the Philippines, Indonesia, and Bangladesh with two specific case studies.
Author : M. Kabir Hassan,Mustafa Raza Rabbani,Mamunur Rashid
Publisher : Springer Nature
Page : 381 pages
File Size : 54,7 Mb
Release : 2022-11-30
Category : Business & Economics
ISBN : 9783031149412
This book explores several challenges facing FinTech in Islamic financial institutions. Firstly, large banks and financial institutions in countries with updated and innovative technological channels will earn the technology arbitrage from FinTech. This ‘size’ puzzle may create a challenge for Islamic financial institutions that are of smaller size and from technologically less-developed countries. Secondly, while access to FinTech is getting broader day by day, usage of FinTech is still limited due to personal and governance-related limitations. Moreover, the level of awareness of the emerging FinTech services (i.e., bitcoin, blockchain, etc.) remains extremely poor even among the residents of technologically-advanced countries. Thirdly, use of FinTech by Islamic financial institutions is limited to Islamic banking, to users from developed countries, among young customers, and for a limited number of traditional banking services such as the deposits and payment services. Also, banks hope to use FinTech to increase the size of a new breed of technology-savvy depositors and loan customers to achieve economies of scale, which may help stabilize the banking sector. Automation in Islamic banks and the participation of Islamic financial institutions in blockchain and bitcoin domains require extensive research from Shariah-compliance as well as market and consumer-related grounds. With all the opportunities and challenges of FinTech—promoting inclusion, easier loan monitoring, and risk of Shariah non-compliance—this book explores the implications for Islamic financial institutions and will be of interest to scholars, researchers, and students of Islamic finance and financial technology.
Author : Abdelrahman Elzahi Saaid Ali
Publisher : Springer Nature
Page : 158 pages
File Size : 45,5 Mb
Release : 2022-04-25
Category : Business & Economics
ISBN : 9783031009259
This book discusses financial inclusion, gender equality, regulatory regimes for microfinance, women empowerment, and digital finance from an Islamic perspective. It encourages the reader to reflect on whether the delivery of financial services from an Islamic perspective might be attainable and lead to achieving global financial inclusion. Accessing financing is one of the most formidable challenges facing disadvantaged in IsDB member countries. The race to serve these niche markets has led to the emergence of conventional microfinance. There remains the lingering question of whether conventional microfinance in its current form has conclusively led to poverty alleviation among Muslim communities. Hence, there is a need of having Shari’ah-compliant business model that depends on Islamic socio-economic tools such as Zakah, Sadaqah, and Waqf might best address the needs self-financial exclusion or the exclusion of the extremely poor in Muslim.
Author : Abdelrahman Elzahi Saaid Ali,Khalifa Mohamed Ali,Mohamed Hassan Azrag
Publisher : Springer Nature
Page : 393 pages
File Size : 52,9 Mb
Release : 2020-07-01
Category : Business & Economics
ISBN : 9783030399399
This book is the second of two volumes which highlight the concept of financial inclusion from the Islamic perspective. An important element of the Sustainable Development Goals (SDGs), financial inclusion has been given significant prominence in reform and development agendas proposed by the United Nations and G-20. The significance of Islamic financial inclusion goes beyond improved access to finance to encompass enhanced access to savings and risk mitigation products, as well as social inclusion that allows individuals and companies to engage more actively in the real economy. It represents one of the important drivers of economic growth. This volume explores the financial risks associated with lending to low-income groups due to high poverty levels and the lack of collateralization mechanisms. The first book on the market to provide empirical evidence of Islamic microfinance, deposit insurance and micro-entrepreneurship through the analysis of models and country case studies, this edited collection will be of value to those researching development finance, financial inclusion and Islamic finance.
Author : Matthias Range
Publisher : GRIN Verlag
Page : 91 pages
File Size : 40,6 Mb
Release : 2013-04-16
Category : Business & Economics
ISBN : 9783656410508
Diploma Thesis from the year 2004 in the subject Economics - Finance, grade: 1,3, RWTH Aachen University (International technical and economical Cooperation), language: English, abstract: The literature discussing microfinance topics like sustainability, outreach and improvement of methods as well as the role of the governments in terms of interference, supervision and regulation is getting more differentiated and substantiated. Despite this increasing interest, one aspect of microfinance has been largely neglected both scientifically and in its application: Islamic Microfinance. In this paper I will discuss, if the principles of the Shari’ah (the Islamic law) are not somewhat compatible with the needs and obstacles of microfinance, where stewardship is to be shared and trust crucial. Further, I will discuss in detail if the prohibition of Riba is a serious, insolvable obstacle and if it is really more expensive for microfinance institutes to provide Muslims with financial services. By comparing traditional instruments of microfinance with new, transferred instruments borrowed from Islamic banking, I will try to explain – on the bases of the Islamic culture – why people are surprised about the neglect of Islamic Microfinance. The hypotheses are as follows • The implementation of Islamic financial products causes too high risks for microfinance institutes. The restriction of involving ‘risk’ in financial contracts for both parties by the Islam is binding. Therefore, market risks and moral hazards, make a save and steady return for the MFI not possible. • The higher efforts of Islamic Microfinance are too much for the already weak organisation structures of MFIs. MFIs have to avoid or at least decrease market risks and moral hazards. Thus, higher efforts need to be invested by the MFIs due to the increased dependency on the success of the pre-financed projects. • The complexity of Islamic financial products compared to convenient credit contracts leads to difficulties in both their explanation as well as their promotion in less educated areas.