Islamic Finance And The New Financial System

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Islamic Finance and the New Financial System

Tariq Alrifai
Islamic Finance and the New Financial System Book PDF

Author : Tariq Alrifai
Publisher : John Wiley & Sons
Page : 280 pages
File Size : 45,8 Mb
Release : 2015-03-23
Category : Business & Economics
ISBN : 9781118990698

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Islamic Finance and the New Financial System by Tariq Alrifai Pdf

Can Islamic finance save the global system? Islamic Finance and the New Financial System describeshow the adoption of Islamic finance principles in future regulatorydecisions could help prevent future shocks in the global financialsystem. Using illustrations and examples to highlight key points inrecent history, this book discusses the causes of financial crises,why they are becoming more frequent and increasingly severe, andhow the new financial system will incorporate elements of Islamicfinance – whether deliberately or not. With an introspectivelook at the system and an examination of the misconceptions anddeficiencies in theory vs. practice, readers will learn why Islamicfinance has not been as influential as it should be on the largerglobal system. Solutions to these crises are thoroughly detailed,and the author puts forth a compelling argument about what can beexpected in the future. Despite international intervention and global policy changes,the financial system remains in a fragile state. There is anargument to be made about integrating Islamic finance into the newsystem to facilitate stronger resilience, and this book explainsthe nuts and bolts of the idea while providing the reader with ageneral understanding of Islamic finance. Understand the key principles of Islamic finance Examine the history of the current financial system Discover how Islamic finance can help build a new debt-freeeconomy Learn how Islamic finance theory doesn't always dictatepractice Although Islamic finance is a growing market, it is still aforeign concept to many. Those within the Islamic finance circleswonder why the system has yet to gain broader appeal despite itsability to create a strong and well-balanced economy. IslamicFinance and the New Financial System provides clever analysisand historical background to put the issues into perspective.

Towards a Post-Covid Global Financial System

M. Kabir Hassan,Aishath Muneeza,Adel M. Sarea
Towards a Post Covid Global Financial System Book PDF

Author : M. Kabir Hassan,Aishath Muneeza,Adel M. Sarea
Publisher : Emerald Group Publishing
Page : 328 pages
File Size : 42,9 Mb
Release : 2022-01-20
Category : Business & Economics
ISBN : 9781800716254

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Towards a Post-Covid Global Financial System by M. Kabir Hassan,Aishath Muneeza,Adel M. Sarea Pdf

In Towards a Post-Covid Global Financial System a team of experts explore how COVID-19 has affected the most vulnerable parts of the global economy; how it has been met by Islamic banking and finance; and how the principles of Islamic social finance could be used to have a fairer, more resilient Islamic finance system for all.

The Stability of Islamic Finance

Hossein Askari,Zamir Iqbal,Noureddine Krichenne,Abbas Mirakhor
The Stability of Islamic Finance Book PDF

Author : Hossein Askari,Zamir Iqbal,Noureddine Krichenne,Abbas Mirakhor
Publisher : John Wiley & Sons
Page : 249 pages
File Size : 54,9 Mb
Release : 2011-11-09
Category : Business & Economics
ISBN : 9781118178935

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The Stability of Islamic Finance by Hossein Askari,Zamir Iqbal,Noureddine Krichenne,Abbas Mirakhor Pdf

The Stability of Islamic Finance main focus is on the question of the sources of financial instability which seems inherent in the conventional system. As a core component of this focus, the book will consider episodes of turbulence and instability in a historical context recalling the occurrence of such events from mid-19th century to the present. It will present various theoretical explanations along with solutions and alternative financial systems that avoid instability provided by various scholars dating back to mid-19th century to present. The book then will present and discuss the architecture of an Islamic financial system and show that at its core, this system shares many characteristics of an stable financial system proposed by Western scholars throughout history to avoid the inherent instability of the present dominant system. Particular emphasis will be placed on the present financial crisis and its causes as well the financial crisis of the 1997 in Southeast Asia, Russia, and Latin America relating these episodes to the fundamental features of the dominant system. The debt crisis of the low income countries will also be part of this discussion. It will then argue that these crises could be mitigated under an Islamic system or any other system with similar architecture.

Islamic Banking and Finance

Mondher Bellalah,Omar Masood
Islamic Banking and Finance Book PDF

Author : Mondher Bellalah,Omar Masood
Publisher : Cambridge Scholars Publishing
Page : 295 pages
File Size : 49,5 Mb
Release : 2013-07-16
Category : Business & Economics
ISBN : 9781443849999

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Islamic Banking and Finance by Mondher Bellalah,Omar Masood Pdf

Islamic finance is founded on principles that constitute the guidelines governing any Islamic economic or financial dealings. Innovative financial engineering today constitutes one of the most critical needs of Islamic financial institutions. It represents the forces that will drive Islamic finance toward continuous growth and efficiency. The structuring of new financing and Shariah-complaint instruments plays an important role in the enhancement of Islamic financial markets, and Islamic risk management practices, combining basic Shariah-complaint financial instruments within Shariah structures to precise identified needs. The financial engineering process in Islamic finance is a process that is very sensitive and complex. It requires multidisciplinary considerations, involving deep knowledge of finance, economy, Shariah law and commercial law. Divergence of opinions among different Shariah scholars and boards, as well as the absence or lack of effectiveness of a central regulatory body, is perceived as an obstacle to the growth of investment confidence in Islamic finance. Hence, innovation, along with greater uniformity, is essential to make Islamic finance an international financial system and to attract a greater number of customers. This book addresses the main issues of concern within Islamic banking, namely the development of conceptual framework, the viability of interest-free banking, and the assessment of its performance and future. In a world where conventional interest-based finance is the dominant framework, Islamic banking faces many challenges that must be addressed. This book discusses these issues and challenges and will be of great interest to both researchers and practitioners. It analyses the past experiences of Islamic banks worldwide, and provides an objective assessment of their successes and failures.

Blockchain, Fintech, and Islamic Finance

Hazik Mohamed,Hassnian Ali
Blockchain Fintech and Islamic Finance Book PDF

Author : Hazik Mohamed,Hassnian Ali
Publisher : Walter de Gruyter GmbH & Co KG
Page : 278 pages
File Size : 50,9 Mb
Release : 2022-09-05
Category : Business & Economics
ISBN : 9783110745016

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Blockchain, Fintech, and Islamic Finance by Hazik Mohamed,Hassnian Ali Pdf

Following the success of the first edition that brought attention to the digital revolution in Islamic financial services, comes this revised and updated second edition of Blockchain, Fintech and Islamic Finance. The authors reiterate the potential of digital disruption to shrink the role and relevance of today’s banks, while simultaneously creating better, faster, cheaper services that will be an essential part of everyday life. Digital transformation will also offer the ability to create new ways to better comply to Islamic values in order to rebuild trust and confidence in the current financial system. In this new edition, they explore current concepts of decentralized finance (DeFi), distributed intelligence, stablecoins, and the integration of AI, blockchain, data analytics and IoT devices for a holistic solution to ensure technology adoption in a prudent and sustainable manner. The book discusses crucial innovation, structural and institutional developments for financial technologies including two fast-growing trends that merge and complement each other: tokenization, where all illiquid assets in the world, from private equity to real estate and luxury goods, become liquid and can be traded more efficiently, and second, the rise of a new tokenized economy where inevitably new rules and ways to enforce them will develop to fully unleash their capabilities. These complementary and oft-correlated trends will complete the decentralization of finance and will influence the way future financial services will be implemented. This book provides insights into the shift in processes, as well as the challenges that need to be overcome for practical applications for AI and blockchain and how to approach such innovations. It also covers new technological risks that are the consequence of utilizing frontier technologies such as AI, blockchain and IoT. Industry leaders, Islamic finance professionals, along with students and academics in the fields of Islamic finance and economics will benefit immensely from this book.

Islamic Finance

Rifaat Ahmed Abdel Karim,Simon Archer
Islamic Finance Book PDF

Author : Rifaat Ahmed Abdel Karim,Simon Archer
Publisher : John Wiley & Sons
Page : 385 pages
File Size : 50,8 Mb
Release : 2013-04-17
Category : Business & Economics
ISBN : 9781118247082

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Islamic Finance by Rifaat Ahmed Abdel Karim,Simon Archer Pdf

From the world's foremost authorities on the subject, the number-one guide to Islamic finance revised and updated for a post-crisis world Because it is entirely equity-based, rather than credit-based, Islamic finance is immune to the speculative bubbles and runaway volatility typical of Western finance. Especially now, in the wake of the global financial crisis, this has made them increasingly attractive to institutional investors, asset managers and hedge funds in search of more stable alternatives to conventional financial products. With interest in Islamic finance swiftly spreading beyond the Muslim world, the need among finance and investment professionals has never been greater for timely and authoritative information about the rules governing Islamic finance. This thoroughly updated and revised second edition of the premier guide to regulatory issues in Islamic finance satisfies that need. Addresses the need for banks to develop common Islamic-based international accounting and auditing standards Clearly explains the key differences between Shari'ah rulings, standardization of acceptable banking practices, and the development of standardized financial products Explores the role of the Shari'ah Boards in establishing common rules regarding the permissibility of financial instruments and markets Offers guidance for regulators seeking to adapt their regulatory frameworks to the needs of the fast-growing Islamic finance sector

Islamic Finance as a Complex System

Haider Ali Khan,Karamo N.M. Sonko
Islamic Finance as a Complex System Book PDF

Author : Haider Ali Khan,Karamo N.M. Sonko
Publisher : Rowman & Littlefield
Page : 227 pages
File Size : 44,9 Mb
Release : 2020-07-24
Category : Business & Economics
ISBN : 9781793608666

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Islamic Finance as a Complex System by Haider Ali Khan,Karamo N.M. Sonko Pdf

There has been a rapid increase in the interest in the study of Islamic finance, resulting in a dramatic rise in financing since the beginning of the century. By the end of 2017 global industry assets had reached $2.4 trillion and were forecasted to reach $3.2 trillion by 2020, despite historic challenges to Islam itself at the same time. This collection of chapters provides key theoretical, empirical, and policy insights into Islamic finance from an overall complex financial and economic systems perspective. Within the complex financial and economic systems framework, this book addresses questions such as how to conceptualize Islamic financial institutions in a nonlinear general equilibrium system, how to promote Islamic Finance in Africa, how “Islamic” is Islamic finance, and how it affects price stability, among other topics. The book provides case studies in Africa and Asia, addresses the subject in a structural financial CGE model, demonstrates the development impact of Islamic finance, and presents an Islamic version of the Iceland Plan for Monetary Reform.

Islamic Finance

Hussein Elasrag
Islamic Finance Book PDF

Author : Hussein Elasrag
Publisher : Hussein Elasrag
Page : 222 pages
File Size : 53,6 Mb
Release : 2024-07-01
Category : Business & Economics
ISBN : 9780463042519

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Islamic Finance by Hussein Elasrag Pdf

Islamic finance is the only example of a financial system directly based on the ethical precepts of a major religion, providing not only investment guidelines but also a set of unique investment and financing products. Islamic finance is based on Shari'a, the Islamic law that provides guidelines for multiple aspects of Muslim life. The Islamic financial industry is playing a pivotal role in the global economy in general, with assets exceeding $ 2.9 trillion, and is projected to reach $ 3.8 trillion by 2022. This book aims to outline some potential areas to consider for all sectors of Islamic finance. In addition, the book discusses the development of Islamic finance; Explore the challenges of Small and Medium Enterprises funding , Corporate governance and Corporate social responsibility in Islamic finance. The book also discusses the existing use of blockchains in Islamic finance.

Developments in Islamic Finance

Syed Aun R. Rizvi,Irum Saba
Developments in Islamic Finance Book PDF

Author : Syed Aun R. Rizvi,Irum Saba
Publisher : Springer
Page : 178 pages
File Size : 44,8 Mb
Release : 2017-08-03
Category : Business & Economics
ISBN : 9783319593425

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Developments in Islamic Finance by Syed Aun R. Rizvi,Irum Saba Pdf

This book presents empirical research that addresses the latest issues and innovative products in Islamic banking and finance around the world. Chapters from expert contributors cover a wide range of topics, including the various issues in stock markets, an overview of takaful, a roadmap for introducing Islamic finance to uncharted territories and an in-depth analysis of the current challenges. Case studies and statistics provide up to date information that can be used for future research. This book will be of interest to academics and researchers who wish to learn more about the challenges of Islamic finance and economics.

Islamic Finance

Hans Visser
Islamic Finance Book PDF

Author : Hans Visser
Publisher : Edward Elgar Publishing
Page : 296 pages
File Size : 45,5 Mb
Release : 2019-12-27
Category : Business & Economics
ISBN : 9781786433503

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Islamic Finance by Hans Visser Pdf

In this extensively updated third edition, Hans Visser explores the ideas and concepts that drive and shape Islamic finance. This incisive book reviews the products, institutions and markets offered by Islamic finance in the modern marketplace, offering a critical discussion of the ways in which fiscal and monetary policy can be adapted to Islamic financial institutions. Visser offers new directions for economics and finance students, as well as students of Islamic finance and Islam studies more broadly.

The global financial crisis and the Islamic finance

Hussein Elasrag
The global financial crisis and the Islamic finance Book PDF

Author : Hussein Elasrag
Publisher : Hussein Elasrag
Page : 164 pages
File Size : 51,8 Mb
Release : 2015-02-26
Category : Business & Economics
ISBN : 9781508645436

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The global financial crisis and the Islamic finance by Hussein Elasrag Pdf

While some have proposed that the Islamic finance serves as a vehicle for recovering from the international financial crisis and The Islamic banking industry may be able to strengthen its position in the international market as investors and companies seek alternate sources of financing. Other economists have argued that Islamic finance, is a different way of structuring financial dealings; but, it is not a totally different financial system. This book tries to note the main causes and the impacts of the current financial and economic crisis. In addition to discuss the belief that the Islamic finance and its prospective is a viable alternative to the ailing global financial system.

Islamic Banking & Finance in South-East Asia

Angelo M. Venardos
Islamic Banking Finance in South East Asia Book PDF

Author : Angelo M. Venardos
Publisher : World Scientific
Page : 264 pages
File Size : 42,8 Mb
Release : 2012
Category : Business & Economics
ISBN : 9789814350426

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Islamic Banking & Finance in South-East Asia by Angelo M. Venardos Pdf

Islamic Banking and Finance in South-East Asia by Angelo M Venardos has been a ?must read? since its first edition in 2005 and has already been translated to Arabic.Now in its 3rd edition, the book offers important updates you can look forward to, starting with the foundations of Islamic banking, developments and issues. The reader is then treated to a timely survey of Islamic banking in five South-east Asian countries. Most of these chapters have been completely revamped from the last edition. One additional chapter has been added on Islamic Succession Planning, which introduces an increasingly essential aspect of Muslim life ? that of managing one's wealth now and in the afterlife.Whether you are new to the topic or a practitioner in the industry, you will appreciate the accessible way in which the book is written. According to the Asian Journal of Comparative Law, the book gives a broad overview yet ?manages to achieve this in a rather slim volume while providing depth of analysis at the same time?.

Islamic Finance: Why It Makes Sense (For You) — Understanding its Principles and Practices, 2nd Edition

Abdullah, Daud Vicary,Chee, Keon
Islamic Finance Why It Makes Sense For You Understanding its Principles and Practices 2nd Edition Book PDF

Author : Abdullah, Daud Vicary,Chee, Keon
Publisher : Marshall Cavendish International Asia Pte Ltd
Page : 216 pages
File Size : 49,9 Mb
Release : 2013-11-15
Category : Business & Economics
ISBN : 9789814516822

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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.

Macroprudential Regulation and Policy for the Islamic Financial Industry

Muhamed Zulkhibri,Abdul Ghafar Ismail,Sutan Emir Hidayat
Macroprudential Regulation and Policy for the Islamic Financial Industry Book PDF

Author : Muhamed Zulkhibri,Abdul Ghafar Ismail,Sutan Emir Hidayat
Publisher : Springer
Page : 272 pages
File Size : 53,7 Mb
Release : 2016-05-25
Category : Business & Economics
ISBN : 9783319304458

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Macroprudential Regulation and Policy for the Islamic Financial Industry by Muhamed Zulkhibri,Abdul Ghafar Ismail,Sutan Emir Hidayat Pdf

This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy – which has gained important impetus in recent years – are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.

Islamic Banking & Finance in South-East Asia

Angelo M. Venardos
Islamic Banking Finance in South East Asia Book PDF

Author : Angelo M. Venardos
Publisher : World Scientific
Page : 259 pages
File Size : 50,7 Mb
Release : 2006
Category : Business & Economics
ISBN : 9789812568885

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Islamic Banking & Finance in South-East Asia by Angelo M. Venardos Pdf

To truly understand the current interest in the development of Islamic banking and finance in South-East Asia and how it is different from the conventional banking system, one must first understand the religious relationship originating from the Qur'an, and then trace the historical geographic and political developments of Islam over recent centuries. Only on this basis can the reader, without prejudice or cynicism, begin to appreciate Shari'ah law and Islamic jurisprudence. With this platform established in the first part of the book, readers are invited to learn about the financial products and services offered, understand the challenges in their development, and ultimately recognize the significant opportunities that Islamic banking and finance can provide both Muslims and non-Muslims.This second edition contains updates of statistics and dates with regards to the development of Islamic banking in Malaysia, Singapore, Indonesia and Brunei. In particular, the chapter on Singapore details significant developments such as the direction which major banks are taking towards Islamic banking and the increase in Islamic banking products being offered.Although written by a non-Muslim author, this highly-regarded book is being translated into Arabic by a leading Islamic university in the Middle East.