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Banking and Business in Islam by M. Mukarram Ahmed (Mufti.) Pdf
Monetary policy has to be as important an instrument of public policy in an Islamic economy as it is in its capitalist counterpart. The objectives and tools must, however, be differed because of the differences in the goals and the nature of the two systems and because of the prohibition of interest in Islam while it is a key ingredient in the capitalist systems.
Islamic Finance: Why It Makes Sense (For You) — Understanding its Principles and Practices, 2nd Edition by Abdullah, Daud Vicary,Chee, Keon Pdf
Islamic finance has been growing faster than conventional finance for most of the past decade. It has done this on a model of finance that rejects interest and promotes profit sharing. How is this possible? Yet the wealth potential of Islamic finance is far from being its most attractive feature. What is most compelling about Islamic finance are its ethical principles and strong corporate governance based on Shariah law. This SECOND EDITION explains and updates how conventional financial products work — from mortgages and leases to trade finance and insurance — before delving into their Islamic versions and contains three new topics on microfinance, the ethical company and wealth successionAbout the Authors Daud Vicary Abdullah has been in the finance and consulting industry for more than 40 years, and has focused solely on Islamic finance since 2002. At Hong Leong Islamic Bank, he was instrumental in transforming an Islamic banking window into a full-fledged Islamic banking subsidiary. Today, he helms INCEIF (International Centre for Education in Islamic Finance), the global university for Islamic finance set up by Bank Negara (Central Bank of Malaysia) in December 2005. He is also a frequent speaker and commentator on matters relating to Islamic finance. Keon Chee is a senior executive in Singapore where he oversees the wills, trusts and corporate services businesses in his firm. He has many years' experience in investment research, derivatives, financial training and insurance. He obtained an MBA from Columbia University and an LL.B (Hons) from the University of London, and enjoys using his broad background in helping clients with their estate planning needs. He is also co-author of the best-selling Make Your Money Work For You.
Author : Amr Mohamed El Tiby Ahmed Publisher : John Wiley & Sons Page : 166 pages File Size : 52,5 Mb Release : 2010-11-17 Category : Business & Economics ISBN : 9780470930113
A detailed look at the fast-growing field of Islamic finance and banking The guiding principle of Islamic finance has existed throughout Islamic history, yet modern Islamic banking has been around for a relatively short period of time. Author Amr Mohamed El Tiby is an expert in this field, and with this new book, he reveals how you can benefit from the use of Islamic banking strategies in your financial endeavors. Engaging and accessible, Islamic Banking shows the impact this approach has made on conventional banking since the 1950s, and why it's such a big player in the current market. It offers a unique look at various aspects of this field, including the salient features of Islamic banking that distinguishes it from non-Islamic banking, the development of the regulatory bodies and supervisory agencies that support the Islamic banking system, and much more. It also explores the nature of risk in Islamic banking and the issues of capital adequacy, corporate governance, transparency, and risk associated with Islamic banking. Discusses the history and development of Islamic finance Offers straightforward strategies for implementing Islamic finance into your business activities Sheds light on the effect of the global economic crisis on Islamic banks versus conventional banks Filled with in-depth insights and expert advice, this detailed analysis of Islamic finance will help you gain a firm understanding of how effective this proven approach can be.
Business Knowledge It in Islamic Finance by Coporation Limited Essvale Coporation Limited Pdf
Deals with the convergence of business and IT in the Islamic finance industry. This work contains information on the fundamentals of Islamic finance. It is suitable for professionals working in the Islamic Finance and crossovers.
Current Issues in Islamic Banking & Finance by Dr. Saad Al-Harran, Alfred Yong Foh Se Pdf
Islamic finance with social responsibility (IFSR) is the new theme of this book. It has been introduced to the general public and is now being promoted by the author through his own writing on Islamic Finance News. I am thankful to its chairman who encourages me to continue writing so those in power in Islamic finance institutions can benefit from my expertise and knowledge in this field. I hope some of my innovative business ideas that I promote in this book will be implemented in order to give hopes to young generation that IFSR is the new vehicle for change for the betterment of mankind in this universe. The main purpose behind introducing the new concept (IFSR) is the food crisis that hurts the poor and needy badly and has now started to adversely affect a wider segment of societies in Asia, Africa, and Middle East due to soaring food costs and the rise of inflation that may trigger civil unrest in many parts of the Muslim world (MW). The cause’s of the surge in food crisis is the massive production of biofuels, which is “a crime against humanity” according to a UN official because of its impact on global food prices that has completely ruined agriculture and will starve millions of people.
The Islamic banking system - Not conductive to the start-up of young, innovative business firms by Kathrin Nina Wiedl Pdf
Seminar paper from the year 2006 in the subject Orientalism / Sinology - Islamic Studies, grade: 1,3, Ben Gurion University (Middle East Institute), course: Middle East Economics, language: English, abstract: The Islamic banking system is a relatively young institution that gains influence not only in the Islamic world but also in non-Muslim countries with big Muslim communities. The first Islamic bank, Dubai Islamic Bank, was erected in 1975; today about 265 Islamic finance institutions operate in more than 70 countries, and their assets have increased more than 40-fold since 1982 to exceed $230 billion. More and more western banks erect Islamic branches; the first was Citibank in 1996. This paper discusses the influence of an Islamic banking system on the start-up of young, innovative businesses. A negative influence would hinder these businesses to develop – if not counterbalanced by other measures like state involvement. In non-Muslim countries it would constrain religious Muslims from participating in the contemporary economical changes, determined by an opening-up of markets and privatization, which requires the start-up of new businesses. The Islamic banking system operates according to Islamic law; hence several Islamic restrictions, the most important is the prohibition of riba (=interest), limit its freedom to develop suitable financing instruments for the support of young, innovative businesses. These restrictions enlarge the risk of the bank especially when financing these businesses, so the bank either avoids these businesses or tries to bend the Islamic law and operates – de facto – like a conventional bank. In this case, however, the bank is facing problems with the Religious Supervisory Board, an integral part of every Islamic bank, which will stop the bank from deriving from the Islamic law (sharī ́a). After discussing these determinants, I will discuss the existing interest-free financing instruments of Islamic Banking suitable for the start-up of young, innovative enterprises. On the example of the PLS-concepts musharaka and mudaraba, I will analyse the factors that make these financing concepts not attractive for banks, especially when financing young, innovative business. On the example of the Mark-up activities murabaha (Trade Financing) and ijara/ijara al-waktina (Leasing) I will analyse, why these concepts are only suitable for financing very special cases of young businesses and are not a suitable alternative to Western banking concepts for the majority of young entrepreneurs. Finally I will show ideas how to improve the system without violating Islamic law, but also discuss the limits of the Islamic banking system.
Mastering Islamic Finance: A practical guide to Sharia-compliant banking, investment and insurance by Faizal Karbani Pdf
A practical and accessible guide to Islamic finance that helps demystify the differences with conventional banking, enabling practitioners to develop Sharia compliant products for customers. The Islamic Finance industry is estimated to be worth $1.2 trillion and is growing globally at over 10% per year. Mastering Islamic Finance will give practitioners an understanding of Islamic finance, from the basic techniques, through to advanced applications. Helping to demystify and clarify the differences with conventional banking, it will enable practitioners to develop Sharia compliant products for customers. According to Sharia law there are strict rules on how financial services and products can be designed; in Islamic Finance money cannot make money and the subject of the finance must be an asset or a verifiable, real trade or business activity. Sharia compliant financial instruments have been devised to enable Muslims to abide by the principles of Islam and still make the most of their money. Mastering Islamic Finance will equip readers with an understanding of Islamic financial instruments so they can sensibly apply them in practice. For each instrument there is a definition of the concept and how it differs from its equivalent in conventional banking. There are also examples and case studies to highlight practical applications. The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you'll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed.
Islamic Finance in a Nutshell by Brian Kettell Pdf
The recent turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance, which has so far remained on the sidelines of the unrest. Islamic Finance in a Nutshell is a quick and easy guide to understanding the fundamentals of Islamic Finance and how the Islamic Financial markets work. Designed as a quick read for practitioners needing to pick up the basics of the industry, it will enable readers to understand the differences Islamic and Western finance. Starting with the rise of Islamic finance, the book highlights the key areas which practitioners need to grasp to understand the marketplace including financial statement analysis, Sharia’a law, making money in the absence of interest and regulation. The book also provides readers with a basic guide to Arab terminology and a guide to the top financial institutions within the Islamic markets. This is an ideal guide for anyone with an interest in how these financial markets work, but who do not want to be bogged down in complex and unnecessary terminology.
Introduction to Islamic Banking and Finance by Brian Kettell Pdf
Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from conventional banking. This detailed book illustrates how Islamic banking is consistent with the Sharia'a, a key element of which is the prohibition on collecting and paying interest. This central religious precept appears to rule out most aspects of modern finance but it does allow money to be used for trading tangible assets and business, which can then generate a profit. Brian Kettell's book looks at all aspects of Islamic banking, including chapters on its creation and evolution through to detailed discussions of the issues involved in the Sharia'a contracts of Murabaha, Mudaraba, Musharaka, Ijara, Istisna'a, and Salam. Islamic insurance (Takaful) is also covered. Finally the book takes a look at Sharia'a law and Sharia'a boards, indicating the roles and responsibilities that come with membership. Islamic banks have been operating in places such as Bahrain, Saudi Arabia, Malaysia and Dubai for some time. Conventional bankers have traditionally viewed the sector as a small, exotic niche but recent years have seen a dramatic surge in popularity. A number of Western investment banks have started working with Muslim clerics to create new ranges of financial products designed for devout Muslims, a large and growing market. Although estimates of the size of the Islamic finance industry vary greatly, everyone agrees that it is expanding rapidly and this is the perfect book for anyone looking to understand the industry.
Thirty Years of Islamic Banking by M. Iqbal,P. Molyneux Pdf
This text explains how Islamic banking works and what it offers as an alternative model of financial intermediation. Important questions addressed include: Why Islamic banking started and where it is going? Who are the main players at present and whom it will attract in future? What are its strengths and weaknesses? Will Islamic banks survive in highly competitive and globalized financial markets? What are their prospects and potentials? How does the relative performance and efficiency of Islamic banks compare to conventional banks?
Islamic Finance For Dummies by Faleel Jamaldeen Pdf
A detailed look at the fast-growing field of Islamic banking and finance The global Islamic finance market is now worth about $700 billion worldwide. Islamic Finance For Dummies helps experienced investors and new entrants into Islamic finance quickly get up to speed on this growing financial sector. Here, you'll find clear and easy-to-understand information on how you can incorporate Islamic finance products into your investment portfolio. You'll quickly and easily: become acquainted with the theory, practice, and limitations of Islamic banking; understand how to develop products for the Islamic financial industry; grasp the objectives and sources of Islamic law and the basic guidelines for business contacts; learn about Islamic fund management and insurance; and much more. Coverage of the role Islamic finance can play in the development of the financial system and of economies Addresses the risks and rewards in Islamic banking The future prospects and opportunities of the Islamic finance industry With the help of Islamic Finance For Dummies, you'll discover the fast and easy way to tap into the booming Islamic finance arena.
Islamic Finance by Tina Harrison,Essam B. Ibrahim Pdf
This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis. Drawing on a range of international perspectives from the Gulf Cooperation Council countries, Malaysia, Pakistan, Australia and Europe, this book explores the characteristics and performance of Islamic finance and banking and discusses future prospects. It offers a comprehensive theoretical framework for Shariah governance in Islamic financial institutions, explores Shariah-compliant equities, as well as issues in productivity, technology and efficiency. It includes a number of comparative studies on Islamic and conventional banks, Islamic and conventional unit trusts, and Islamic and conventional banks’ product mixes. The challenges and opportunities for the expansion of Islamic finance and banking into Europe are explored through the contexts of the UK, Germany and Italy.
We are pleased to offer this fifth title in our APTS Press Monograph Series. This is the publication of the author’s doctoral dissertation done through the Concordia Theological Seminary in Fort Wayne, Indiana, USA. The purpose of this series is to give our readers broader access to good scholarship that would otherwise be unavailable outside of the academic community. This is part of our ongoing commitment to discipleship through publishing. Christian mission organizations have enthusiastically embraced “business” as a means of entry for Christian workers who might not otherwise be able to get into these nations, especially MMNs. However, the embracing of business raises some immediate concerns. In light of existing tensions between business and Islam, won’t missions-connected businesses be under the same cloud of conflict? More importantly, isn’t the Gospel put under this cloud, thereby negatively impacting the spread of the kingdom of God? Also, if the business-and-mission companies’ expatriate owners and employees are western (especially American) won’t the conflicts inevitably intensify? And if so, are there ways such entities can be operated in order to minimize the conflict with Islamic sensitivities? This book will address these and other related questions.
Keep up with management issues in the rapidly changing Islamic business world! Islam and Business: Cross-Cultural and Cross-National Perspectives reviews important changes, cross-cultural differences, and management issues in the turbulent Islamic business environment. With the shift from government ownership of companies and commodities toward more open markets and the product/service diversification that this change brings, the need to understand how business is done in these countries is more vital than ever before. The research in this book will help you understand the impact of Westernization upon business practices in Islamic nations. With contributions from experts on four Islamic business environments (Turkey, Jordan, Egypt, and Lebanon), this book: provides a framework to guide corporations in policy and strategic planning examines the impact of Western reforms on selected Islamic business sectors discusses the training, leadership, and management development needs of companies doing business in or with Islamic nations Section 1: Business in Turkey presents: a framework for corporate policy making and for strategic planning activities an assessment of what can cause strategic alliances to succeed or to fail—illustrated by a case study of the relationship between Turkish Airlines and the Qualiflyer Group—this study considers the question in terms of goals, partner selection, alliance management, and areas of cooperation an examination of value-at-risk (VaR) models that can be used to compute market risk for financial institutions—with a study of crisis scenarios as applied to the four largest Turkish banks Section 2: Business in Jordan presents: a study of the impact Westernization has had on the efficiency of Jordanian commercial banks an examination of current practices and procedures for management training and development (MTD) needs in public and private organizations in Jordan—and suggestions for future improvements an exploratory study of how national and regional socio-cultural values affect organizational culture—considering such factors as Power Distance (PD), Uncertainty Avoidance (UA), the Individualism-Collectivism (IDV) dimension, and the Masculinity-Femininity (MAS) dimension, as well as power culture, role orientation, achievement culture, and the support-oriented organization Section 3: Business in Egypt and Lebanon presents: a comprehensive model of relationships between transactional and transformational leadership trust in terms of organizations, organizational justice, intention to leave, and organizational citizenship behavior—using data supplied by 179 middle and direct level managers in 17 private Egyptian organizations an analysis of the factors affecting the advancement of the Lebanese tourism industry, which has suffered tremendously in the wake of civil war and political unrest The information in Islam and Business will be helpful to anyone practicing management or studying how management works in the Islamic world. Make it a part of your professional/teaching collection today!
Author : Frank E. Vogel,Samuel L. Hayes Publisher : BRILL Page : 358 pages File Size : 41,9 Mb Release : 1998-01-01 Category : Business & Economics ISBN : 9041105476
Islamic Law and Finance by Frank E. Vogel,Samuel L. Hayes Pdf
Mirroring the expansion of wealth in the Middle East and Asia and a surge in Islamic self-identity, Islamic banking practices have either become the law of the land or coexist and compete with Western practices in at least six countries. A growing number of institutions and mutual funds (akin to Western ''socially responsible'' funds) have established Islamic investment and other practices to cater to this burgeoning market. Because of its prevalence, practitioners in every banking-related area must familiarize themselves with current Islamic finance practices in order to do business with Muslim clients and to engage in cross-border financing. Injunctions from the "Qur'an and the sayings of Prophet Muhammed have generated a web of interrelated norms which prohibit Islamic financiers from engaging in transactions that involve interest "(riba) and speculation "(gharar). "Islamic Law and Finance describes the dynamic set of Islamically-sanctioned ways financiers can transacat business.
