The Core Principles For Islamic Finance Regulations And Assessment Methodology

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The Core Principles for Islamic Finance Regulations and Assessment Methodology

International Monetary Fund,World Bank,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. African Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Middle East and Central Asia Dept.,International Monetary Fund. Monetary and Capital Markets Department
The Core Principles for Islamic Finance Regulations and Assessment Methodology Book PDF

Author : International Monetary Fund,World Bank,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. African Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Middle East and Central Asia Dept.,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 40 pages
File Size : 41,8 Mb
Release : 2018-05-24
Category : Business & Economics
ISBN : 9781498308885

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The Core Principles for Islamic Finance Regulations and Assessment Methodology by International Monetary Fund,World Bank,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. African Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Middle East and Central Asia Dept.,International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper provides a proposal to incorporate the Core Principles for Islamic Finance Regulation (Banking Sector) (CPIFR) issued by the Islamic Financial Services Board (IFSB), as part of the standards used in assessing the banking regulatory and supervisory regimes of relevant member jurisdictions under the Financial Sector Assessment Program (FSAP) and the Reports on Observance of Standards and Codes (ROSCs). The CPIFR largely reflects the order of the Basel Core Principles on Effective Banking Supervision (BCP), with five additional principles that are specific to Islamic banking operations. Thus, for countries that have systemically significant Islamic banking sector, the assessment of the banking regulation and supervision regime of the jurisdiction would be against the CPIFR (for fully Islamic banking systems) or BCP and the five additional core principles under the CPIFR (for dual banking systems). The Fund staff is seeking the endorsement of the Executive Board on this proposal.

The Core Principles for Islamic Finance Regulations and Assessment Methodology

Anonim
The Core Principles for Islamic Finance Regulations and Assessment Methodology Book PDF

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 46,7 Mb
Release : 2018
Category : Electronic
ISBN : 1498308872

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The Core Principles for Islamic Finance Regulations and Assessment Methodology by Anonim Pdf

This paper provides a proposal to incorporate the Core Principles for Islamic FinanceRegulation (Banking Sector) (CPIFR) issued by the Islamic Financial Services Board(IFSB),1 as part of the standards used in assessing the banking regulatory andsupervisory regimes of relevant member jurisdictions under the Financial SectorAssessment Program (FSAP) and the Reports on Observance of Standards and Codes(ROSCs). The CPIFR largely reflects the order of the Basel Core Principles on EffectiveBanking Supervision (BCP), with five additional principles that are specific to Islamicbanking operations. Thus, for countries that have systemically significant Islamicbanking sector, the assessment of the banking regulation and supervision regime of thejurisdiction would be against the CPIFR (for fully Islamic banking systems) or BCP andthe five additional core principles under the CPIFR (for dual banking systems). The Fundstaff is seeking the endorsement of the Executive Board on this proposal.--Executive summary.

Islamic Finance

Simon Archer,Rifaat Ahmed Abdel Karim
Islamic Finance Book PDF

Author : Simon Archer,Rifaat Ahmed Abdel Karim
Publisher : John Wiley & Sons
Page : 441 pages
File Size : 43,7 Mb
Release : 2007-03-16
Category : Business & Economics
ISBN : 9780470821893

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Islamic Finance by Simon Archer,Rifaat Ahmed Abdel Karim Pdf

"Islamic Finance: The Regulatory Challenge…is therefore timely and a truly welcome addition to the growing literature on this subject…I congratulate the two professors for their fine contribution to the evolving art and science of the regulation of Islamic finance." —Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia "The World's financial regulators have taken too long to appreciate the importance of adapting their regulatory frameworks to the needs of the fast growing Islamic finance sector. Simon Archer and Rifaat Ahmed, the leaders in the field, have put together a fascinating collection of essays which show just what has to be done. It is a very timely book indeed." —Howard Davies, Director, London School of Economics "The emergence of Islamic finance as a major force in the world financial system has focused attention on regulatory issues. This book, edited by Professor Archer and Professor Rifaat, two of the most respected figures in the field, is an important point of reference for those who have to deal with these issues, whether in regulatory authorities, or in the financial institutions themselves." —Professor William Blair QC, Grays Inn, London "There is now great interest, both in financial and legal circles, in reliable and authoritative texts on Islamic finance. I have no doubt that the availability of Islamic Finance: The Regulatory Challenge will be warmly welcomed by those who provide financial and legal services. The work will be of great assistance to them." —The Rt Hon the Lord Woolf of Barnes, Law Lord and former Lord Chief Justice of England & Wales

Islamic Finance

Rifaat Ahmed Abdel Karim,Simon Archer
Islamic Finance Book PDF

Author : Rifaat Ahmed Abdel Karim,Simon Archer
Publisher : John Wiley & Sons
Page : 441 pages
File Size : 47,9 Mb
Release : 2011-09-02
Category : Business & Economics
ISBN : 9781118179475

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Islamic Finance by Rifaat Ahmed Abdel Karim,Simon Archer Pdf

"Islamic Finance: The Regulatory Challenge…is therefore timely and a truly welcome addition to the growing literature on this subject…I congratulate the two professors for their fine contribution to the evolving art and science of the regulation of Islamic finance." —Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia "The World's financial regulators have taken too long to appreciate the importance of adapting their regulatory frameworks to the needs of the fast growing Islamic finance sector. Simon Archer and Rifaat Ahmed, the leaders in the field, have put together a fascinating collection of essays which show just what has to be done. It is a very timely book indeed." —Howard Davies, Director, London School of Economics "The emergence of Islamic finance as a major force in the world financial system has focused attention on regulatory issues. This book, edited by Professor Archer and Professor Rifaat, two of the most respected figures in the field, is an important point of reference for those who have to deal with these issues, whether in regulatory authorities, or in the financial institutions themselves." —Professor William Blair QC, Grays Inn, London "There is now great interest, both in financial and legal circles, in reliable and authoritative texts on Islamic finance. I have no doubt that the availability of Islamic Finance: The Regulatory Challenge will be warmly welcomed by those who provide financial and legal services. The work will be of great assistance to them." —The Rt Hon the Lord Woolf of Barnes, Law Lord and former Lord Chief Justice of England & Wales

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 : 41,9 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.

Islamic Finance

David Eisenberg
Islamic Finance Book PDF

Author : David Eisenberg
Publisher : OUP Oxford
Page : 470 pages
File Size : 51,7 Mb
Release : 2012-03-22
Category : Law
ISBN : 9780191630897

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Islamic Finance by David Eisenberg Pdf

This work is a practical and commercial guide to the fundamental principles of Islamic finance and their application to Islamic finance transactions. Islamic finance is a rapidly expanding, global industry and this book is designed to provide a practical treatment of the subject. It includes discussion and analysis of the negotiation and structure involved in Islamic finance transactions, with relevant case studies, structure diagrams and precedent material supporting the commentary throughout. An introductory section describes the theoretical background and explains the principles (and their sources) of Islamic law which underpin Islamic finance practices, providing an important backdrop to the work as a whole. The work also considers the role of Shariah supervisory boards, Islamic financial institutions and the relevance of accounting approaches. The work adopts an international perspective to reflect the pan-global nature of the industry and accepted practices, with the aim to bring together different schools of thought applied in international Islamic finance transactions. It also highlights any regional differences in accepted practice by reviewing the position in the Gulf states, Asia, the UK and Europe and the USA. The second part of the book concentrates on Islamic financial law in practice and begins with a section on financial techniques. This section explains the basic requirements for Islamic finance contracts both in terms of the underlying asset types and also both the applicability and acceptability of the underlying asset. There is a full discussion of the various types of contractual models such as Mudaraba (trustee finance), Musharaka (partnership or joint venture), Murabaha (sale of goods), and Sukuk (participation securities: coupons etc). The nascent area of Takaful (insurance) is also covered as are matters specific to the important field of project and asset finance.

The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance

Humayon A. Dar,Umar F. Moghul
The Chancellor Guide to the Legal and Shari a Aspects of Islamic Finance Book PDF

Author : Humayon A. Dar,Umar F. Moghul
Publisher : Harriman House Limited
Page : 372 pages
File Size : 54,9 Mb
Release : 2012-01-09
Category : Business & Economics
ISBN : 9780857192004

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The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance by Humayon A. Dar,Umar F. Moghul Pdf

Unprecedented economic growth and wealth accumulation in predominately Muslim countries have prompted many financial institutions in the US and Europe to position their investment teams across the Middle East and Asia to be closer to the markets in which they invest, and to take advantage or asset-gathering opportunities. This growth has also encouraged an increasing number of western industrialised countries to adopt legislation that responds to the requirements of the Musli investment community. To be effective in these markets it is essential that professionals have an understanding of how Shari'a legal principles are applied in the financial sector. Failure to do so exposes them and their clients to potential financial, legal and reputational pitfalls. The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance is the first professional reference to focus specifically on the legal dimension of Islamic Finance. The guide brings together nineteen Islamic Finance legal practitioners and advisers to provide a comprehensive yet practical legal perspective on the subject. Each contributor draws on several years' hands-on experience in Islamic Finance product development and advice to leading financial institutions to provide a real-world, contemporary assessment of the key legal issues in Islamic Finance. The guide's hands-on approach and accessible style make it required reading for everyone with a professional interest in Islamic Finance, be they lawyers, accountants, regulators, bankers or investors. It is also a unique reference for academic institutions worldwide.

Foundations of Shari'ah Governance of Islamic Banks

Karim Ginena,Azhar Hamid
Foundations of Shari ah Governance of Islamic Banks Book PDF

Author : Karim Ginena,Azhar Hamid
Publisher : John Wiley & Sons
Page : 402 pages
File Size : 43,8 Mb
Release : 2015-04-06
Category : Business & Economics
ISBN : 9781118460771

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Foundations of Shari'ah Governance of Islamic Banks by Karim Ginena,Azhar Hamid Pdf

A practical guide for robust sharī'ah governance of the Islamic banking industry Debate in the market on the extent of sharī'ah compliance of Islamic banks, their products, and activities has piqued stakeholders' interest. In Foundations of Sharī'ah Governance of Islamic Banks, Karim Ginena and Azhar Hamid explore the depths of sharī'ah governance to unravel its mysterious dimensions, and equip academics and practitioners with a solid understanding of the subject, which has become a serious challenge and thus deserves dedicated attention. The authors make a strong case for the need to contain the sharī'ah risk that Islamic banks experience, and present a compelling argument for how this should be done. Ginena and Hamid propose a robust sharī'ah governance model that comprehensively tackles thisrisk, and helps improve the extent of sharī'ah compliance of market players. The authors detail the internal, external, and institutional arrangements needed to promote responsible sharī'ah governance, and critically analyze current laws, regulations, and industry practices on the topic. The chapters of the book do the following: Examine the roots, characteristics and objectives of sharī'ah and its relation to financial dealings; Probe the role of regulators in sharī'ah governance, explore the different approaches adopted by banking supervisors, and provide examples of relevant legal and regulatory measures; Explain to bank directors and management the fiduciary duty they assume with respect to sharī'ah compliance, and detail how they could discharge this responsibility in line with best practices; Elaborate on the purpose of the Sharī'ah Supervisory Board (SSB), its responsibilities, competence criteria, internal regulations, and key governance guidelines; additionally, they explore different SSB models; Describe the internal sharī'ah control system including its six components, and examine the internal sharī'ah audit function as well as different stages of conducting a sharī'ah audit; Clarify the role of a sharī'ah auditor, with guidance on reporting lines, scope of duties, authority, and practical ways on fulfilling tasks, such as a sample sharī'ah risk assessment grid and audit checklists; Discuss the newly emerging external sharī'ah advisory firms that are expected to play a key role in the coming years and the services they provide. Through an effective treatment of each of these elements, and the way that they interact with one another, the book offers a fresh take on how robust sharī'ah governance of Islamic banks can be successfully accomplished. It is a comprehensive resource for academics, regulators, directors, lawyers, auditors, consultants, employees, and customers of Islamic banks interested in learning more about these challenges. This essential reading persuasively extends the discourse on the subject and addresses critical sharī'ah issues that have policy implications for decision makers in jurisdictions aiming to attract the fast-growing Islamic finance industry or increase their market share.

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 : 50,8 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

Amr Mohamed El Tiby Ahmed
Islamic Banking Book PDF

Author : Amr Mohamed El Tiby Ahmed
Publisher : Wiley
Page : 240 pages
File Size : 53,8 Mb
Release : 2011-01-04
Category : Business & Economics
ISBN : 0470880236

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Islamic Banking by Amr Mohamed El Tiby Ahmed Pdf

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.

Islamic Banking and Finance

Mondher Bellalah,Omar Masood
Islamic Banking and Finance Book PDF

Author : Mondher Bellalah,Omar Masood
Publisher : Unknown
Page : 0 pages
File Size : 54,8 Mb
Release : 2012
Category : Banking law (Islamic law)
ISBN : OCLC:1324242815

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Islamic Banking and Finance by Mondher Bellalah,Omar Masood Pdf

Islamic finance is founded on overarching 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, as it represents the forces that will drive Islamic finance toward continuous growth and efficiency. The structuring of innovative financing and Shariah-compliant instruments plays an important role in the enhancement of Islamic financial markets and Islamic risk management practices. Combining basic Sharia-compliant financial instruments within Shariah-compliant structures to precise identified needs defines the financial engineering process in Islamic finance. Such a process is very sensitive and complex as it requires multidisciplinary considerations involving deep knowledge of finance, economy, Shariah law and commercial law. Divergence of opinions among different Sharia 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 the order of the day to make Islamic finance an international financial system and to attract a greater number of customers. Islamic banking principles have attracted attention from academic researchers and regulators both in developing and developed countries as a result of their distinguished micro-operating fundamentals. The prohibition of interest payments by Islamic Sharia (Islamic law) has instead made equity and profit sharing the cornerstones of its operational structure activities. This book addresses the main issues of concern within Islamic banking, namely the conceptual framework and 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 the contemporary issues and challenges confronting the Islamic banking system 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.

An Introduction to Islamic Finance

Zamir Iqbal,Abbas Mirakhor
An Introduction to Islamic Finance Book PDF

Author : Zamir Iqbal,Abbas Mirakhor
Publisher : Wiley
Page : 0 pages
File Size : 46,6 Mb
Release : 2011-08-09
Category : Business & Economics
ISBN : 0470828080

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An Introduction to Islamic Finance by Zamir Iqbal,Abbas Mirakhor Pdf

The first book to offer comprehensive coverage of Islamic finance and banking and its applications to the rest of the world, now fully revised and updated The ongoing international financial crisis has reignited debate over the development of a risk-sharing financial system, such as that required in Shariah Law. An Introduction to Islamic Finance: Theory and Practice, Second Edition highlights the core principles of risk sharing in Islam, arguing that a risk-sharing financial system is exactly what we need to promote greater financial stability. Providing comprehensive coverage of the fundamental theory behind Islamic finance and banking, according to the core concepts of Shariah law, authors Zamir Iqbal and Abbas Mirakhor clearly explain the distinct features of an Islamic financial system and how it compares with traditional financial models. Addressing the myriad important developments that have taken place in recent years, this second edition looks to the future, addressing emerging issues sure to influence future developments in Islamic finance. Explores the unique features of an Islamic financial system, how they compare to more traditional financial systems, and how they could improve them Discusses all the most recent developments and emerging issues in Islamic finance Updated with the latest developments, trends, innovations, and statistics, this new edition features additional chapters on the financial crisis, globalization, non-bank financial institutions, and recent developments in Takaful (Islamic insurance) The first edition of An Introduction to Islamic Finance established the book as the market leader, and this newly revised and updated second edition incorporates the most recent developments in this booming financial sector, including financial stability, globalization, and non-banking financial institutions.

Islamic Banking Regulation and Supervision

Mr.In Song,Carel Oosthuizen
Islamic Banking Regulation and Supervision Book PDF

Author : Mr.In Song,Carel Oosthuizen
Publisher : International Monetary Fund
Page : 42 pages
File Size : 46,5 Mb
Release : 2014-12-12
Category : Business & Economics
ISBN : 9781498319270

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Islamic Banking Regulation and Supervision by Mr.In Song,Carel Oosthuizen Pdf

The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision. This paper examines the results of the survey conducted by the International Monetary Fund to document international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities. Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences. This paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking.

The Core Principles for Islamic Finance Regulations and Assessment Methodology

International Monetary Fund,World Bank,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. African Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Middle East and Central Asia Dept.,International Monetary Fund. Monetary and Capital Markets Department
The Core Principles for Islamic Finance Regulations and Assessment Methodology Book PDF

Author : International Monetary Fund,World Bank,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. African Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Middle East and Central Asia Dept.,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 40 pages
File Size : 51,9 Mb
Release : 2018-05-24
Category : Business & Economics
ISBN : 9781498308496

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The Core Principles for Islamic Finance Regulations and Assessment Methodology by International Monetary Fund,World Bank,International Monetary Fund. Strategy, Policy, & Review Department,International Monetary Fund. African Dept.,International Monetary Fund. Legal Dept.,International Monetary Fund. Middle East and Central Asia Dept.,International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper provides a proposal to incorporate the Core Principles for Islamic Finance Regulation (Banking Sector) (CPIFR) issued by the Islamic Financial Services Board (IFSB), as part of the standards used in assessing the banking regulatory and supervisory regimes of relevant member jurisdictions under the Financial Sector Assessment Program (FSAP) and the Reports on Observance of Standards and Codes (ROSCs). The CPIFR largely reflects the order of the Basel Core Principles on Effective Banking Supervision (BCP), with five additional principles that are specific to Islamic banking operations. Thus, for countries that have systemically significant Islamic banking sector, the assessment of the banking regulation and supervision regime of the jurisdiction would be against the CPIFR (for fully Islamic banking systems) or BCP and the five additional core principles under the CPIFR (for dual banking systems). The Fund staff is seeking the endorsement of the Executive Board on this proposal.

Islamic Finance and Economic Development

Amr Mohamed El Tiby Ahmed,Wafik Grais
Islamic Finance and Economic Development Book PDF

Author : Amr Mohamed El Tiby Ahmed,Wafik Grais
Publisher : John Wiley & Sons
Page : 0 pages
File Size : 42,8 Mb
Release : 2014-04-28
Category : Business & Economics
ISBN : 9781118847268

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Islamic Finance and Economic Development by Amr Mohamed El Tiby Ahmed,Wafik Grais Pdf

A comprehensive guide to mitigating risk and fostering growth in the Islamic financial sector Islamic finance, like conventional finance is a business of financial intermediation. Its distinctive features relate to the requirement that it abides by Shari'a rules that promote fairness of contracts and prevention of exploitation, sharing of risks and rewards, prohibition of interests, and tangible economic purpose. Islamic finance should not fund activities considered “haram” or sinful. In Islamic Finance and Economic Development: Risk, Regulation, and Corporate Governance, authors Amr Mohamed El Tiby and Wafik M. Grais expound how these distinctive features bear on the opportunities and challenges facing the Islamic finance industry’s development, risk management, regulation and corporate governance. An experienced banker with various Middle East banking institutions, notably as former Vice President at UAE Union National Bank and Mashreq bank, Dr. El Tiby offers an informed perspective on corporate finance from within the Islamic finance industry. With a long experience in international development and finance, notably as former Director at the World Bank and Founder and Chairman of a Cairo-based Financial Advisors company, Dr. Grais brings global financial experience on the topics of financial systems assessments, corporate governance, Islamic finance, and public policy. Covers the history and basics of Islamic finance, and provides insight into current conditions and future landscape Explores regulatory framework, including opportunities and challenges for the industry’s development and mainstreaming Presents an approach to developing a systemic Shari'a governance framework to govern operations in the Islamic finance industry