Download or read book Balancing Islamic and Conventional Banking for Economic Growth written by Murat USTAOĞLU and published by Springer. This book was released on 2017-07-20 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Palgrave Pivot empirically analyzes the role of conventional and interest-free Islamic banking in the growth process of developing Islamic nations. After explaining the theoretical background of this dual banking system structure, the book then empirically analyzes growth in a variety of sectors - such as agriculture, manufacturing, and tourism - in the predominantly Muslim countries of Turkey, Malaysia, Indonesia, and Qatar. Finally, the book concludes with a detailed comparison of policy efficiency surrounding the dual bank structure, providing advice from more successful countries that can be applied to those still struggling to find a balance.

Download or read book An Overview of Islamic Finance written by Mr. Mumtaz Hussain and published by International Monetary Fund. This book was released on 2015-06-02 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Islamic Banking written by Nafis Alam and published by Springer. This book was released on 2016-11-10 with total page 151 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on current issues impacting the Islamic banking system globally. The contributions introduce readers to existing research and literature in the field and highlight areas of potential scholarly development within Islamic banking studies. The chapters are a variety of case studies, theoretical reviews, and empirical research within the world of Islamic banking. The contributions analyse new developments within Islamic banks from OIC member countries, Malaysia and the GCC. Particular attention is paid to the formative insolvency case of Arcapita Bank in chapter 6. Other chapters provide detailed discussion of the structures, marketing activities and products of Islamic banks, and contrast them with those of counterpart conventional banks. Through this edited collection, readers are given expert insight into contemporary, critical issues facing the growing sphere of Islamic banking.

Download or read book Islamic Finance written by Mr.Alfred Kammer and published by International Monetary Fund. This book was released on 2015-04-06 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The SDN discusses the main policy issues and challenges in building an inclusive and safe Islamic finance industry, with emphasis on Islamic banking and Sukuk markets. To this end, it discuses why Islamic finance matters, taking into account its recent and prospective growth; and, its potential contributions in terms of financial inclusion, support for small- and medium-sized enterprises and investment in public infrastructure and, in principle, reduced systemic risk. It then covers a range of regulatory and other challenges, and offers policy advice, to address factors that hamper the development of the industry and, more generally, the delivery of its potential benefits. The paper covers regulatory and supervisory issues, safety nets and resolution frameworks, access to finance, Sukuk markets, and macroeconomic policies.

Download or read book Islamic Monetary Economics written by Taha Eğri and published by Routledge. This book was released on 2020-12-10 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The existence of fiat currencies has long been cited as one of the major contributing factors to the challenges facing contemporary economies, and the current monetary system is not only a key source of exorable increases in interest rates but also a principal cause of inflation and decline in the value of money in many countries. The editors argue that an Islamic monetary system, with its specific money concepts, interest-free financial institutions, and monetary policy embedded in real growth, provides a solution to this conundrum. Contributions from many world-renowned experts consider a wide array of topics, ranging from the theoretical concepts of money and banking in conventional and Islamic economics to the historical journey of money from precious metals to plastic money and digital currency today. The book outlines the problems that sprout from interest-based banking and multiple debt structures. It then mirrors the Islamic concepts of money as well as idiosyncrasies of its monetary policy. Supported with meticulous research and empirical evidence, the book demonstrates the efficacy of Islamic monetary system in delivering real growth along with equitable distribution of wealth and prosperity in the economy. It additionally acquaints the readers with juristic debates about money and monetary policy. This is essential reading for both students and researchers in Islamic economics, banking, and finance, expertly promoting a fair and just economic system that emerges as a result of interest-free banking and monetary policy based on Islamic principles.

Download or read book Globalization and Islamic Finance written by Hossein Askari and published by John Wiley & Sons. This book was released on 2011-11-11 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an extremely valuable book written by three highly qualified scholars whose credentials for writing such a book are difficult to match. The timing of the book is also perfect, having come at a time when the worst financial crisis in living memory has intensified the quest for reform of the international architecture. The proposals made by the authors should go a long way in not only reforming the system but also in accelerating the move towards financial globalization and convergence of the conventional and Islamic financial systems. Dr. Umer Chapra Prominent Scholar of Islamic Economics and currently Research Advisor Islamic Research and Training Institute (IRTI), Islamic Development Bank (IDB) Globalization and Islamic Finance, by three well-respected authors in Islamic finance, provides a thought-provoking analysis of an important and topical issue, particularly, given the global impact of the current financial and economic crises. The book is the first attempt to make a compelling case of convergence between globalization and Islamic finance. Askari, Iqbal and Mirakhor should be praised for this serious effort, which is a must-read for academics and practitioners interested in Islamic finance. Professor Rifaat Ahmed Abdel Karim Secretary General Islamic Financial Services Board (IFSB) This book has a robust discussion of the growth and spread of Islamic finance within the umbrella of globalization. The book provides a unique view of Islamic finance, not only from the perspective of how Islamic finance fits within globalization in general, but globalization of finance in particular. This is a must read for anyone interested in the complex and complicated world of Islamic finance. Scheherazade S. Rehman, Ph.D. Director, European Union Research Center Professor of International Finance, School of Business The George Washington University I have not come across any literature that has delved so intensely in financial globalization, in particular Islamic finance. Due to this reason, I would encourage all interested in this area to read this book. Hajah Salma Latiff Managing Director, Crescent Sdn. Bhd. Former Director, Centre for Islamic Banking, Finance and Management (CIBFM), Universiti Brunei Darussalam The recent crisis has evoked wide interest in Islamic finance publications. Globalization and Islamic Finance is both timely and needed. Sani Hamid Director, Wealth Management Financial Alliance (Singapore)

Download or read book Balancing Religion and Finance Did Islamic Finance overcome possible difficulties that the Islamic law posed on conventional finance written by Ulrich Roschitsch and published by GRIN Verlag. This book was released on 2016-09-14 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2016 in the subject Economics - History, grade: 1,3, University of Mannheim (Fakultät der Rechtswissenschaften und VWL), language: English, abstract: Since the mid-1970s, an industry growing at considerable pace in the Islamic world is gaining market shares all over the world in countries with sufficient Muslim populations. This “Islamic Finance” industry claims to act in line with the ethical and practical principles set forth in the Qu'ran and the Shari'ah, thus appealing to Muslim and non-Muslim clients alike who search for viable alternatives to conventional financial products. As explained, the first beginnings of this phenomenon can be traced well back into the 1970s when the first “Islamic Banks” started operating in Egypt and Jordan. In the past decades, a vast amount of research has been published – empirical and theoretical – to review the impacts of Islamic Finance on the financial markets of the Islamic world. These works, to a great deal inspired by the enormous need of the industry for quantitative and qualitative research, all dealt with questions of comparative efficiency of conventional and Islamic Finance, the demand for Shari'ah-compliant financial products, the actual genuineness, or authenticity, of the industry, etc. However, only a very small portion of these research works dealt with the question whether or not the Islamic world actually needs Islamic Finance. At first, this might seem as a trivial question (if there was no need for Islamic Finance, there would not have been this substantial growth). But at second thought, one realizes the associations that come which come with the question of raison d'être: Why did Islamic Finance emerge? Does it add an economic value to its markets? And most importantly, is it – so far – successfully reaching its goals? To my understanding, the works that deal with this big-picture analysis, are thin on the ground. Therefore, this work shall take a first step at putting Islamic Finance into the historical context it needs to be seen in, by compiling the manifold works into a cross-sectional approach to characterize the industry. The most salient aspects of the analysis here will be legal, historical, and economic ones, in order to grasp the 'big picture' of Islamic Finance.

Download or read book Islamic Banking in Southeast Asia written by Mohamed Ariff and published by Institute of Southeast Asian Studies. This book was released on 1988 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic banking is the result of the untiring search for interest-free alternatives to conventional banking and it has been successfully introduced in the Middle East. However, in Southeast Asia, where there are large Muslim communities, Islamic banks are to be found only in Malaysia and the Philippines. Nevertheless, there is considerable interest in the possibility of establishing banking institutions and practices consonant with Islam in other countries in the region. In this book, scholars evaluate the role and performance of Islamic banking in Southeast Asia and examine the problems and prospects of establishing Islamic banks in countries where such banking does not exist.

Download or read book The Effects of the Global Crisis on Islamic and Conventional Banks written by Jemma Dridi and published by . This book was released on 2005-10-31 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the performance of Islamic banks (IBs) and conventional banks (CBs) during the recent global crisis by looking at the impact of the crisis on profitability, credit and asset growth, and external ratings in a group of countries where the two types of banks have significant market share. Our analysis suggests that IBs have been affected differently than CBs. Factors related to IBs‘ business model helped limit the adverse impact on profitability in 2008, while weaknesses in risk management practices in some IBs led to a larger decline in profitability in 2009 compared to CBs. IBs‘ credit and asset growth performed better than did that of CBs in 2008-09, contributing to financial and economic stability. External rating agencies‘ re-assessment of IBs‘ risk was generally more favorable.

Download or read book Islamic Banking written by Mr.Kangni Kpodar and published by International Monetary Fund. This book was released on 2010-08-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of the pattern of Islamic bank diffusion around the world using country-level data for 1992 - 2006. The analysis illustrates that income per capita, share of Muslims in the population and status as an oil producer are linked to the development of Islamic banking, as are economic integration with Middle Eastern countries and proximity to Islamic financial centers. Interest rates have a negative impact on Islamic banking, reflecting the implicit benchmark for Islamic banks. The quality of institutions does not matter, probably because the often higher hurdle set by Shariah law trumps the quality of local institutions in most countries. The 9/11 attacks were not important to the diffusion of Islamic banking; but they coincided with rising oil prices, which are a significant factor in the diffusion of Islamic banking. Islamic banks also appear to be complements to, rather than substitutes for, conventional banks.

Download or read book Introduction To Islamic Banking And Finance An Economic Analysis written by M Kabir Hassan and published by World Scientific. This book was released on 2020-08-12 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, Introduction to Islamic Banking and Finance: An Economic Analysis, covers the basic principles of Islamic economics and finance. It discusses both the theory of Islamic economics and finance as well as the applications in the design of instruments of finance as well as Islamic financial institutions. The book enables its readers to gain an understanding of the structures and operations of Islamic banking, Islamic capital market investments, risk management, and taxation for Islamic banking contracts.The book sets forth the following objectives:

Download or read book Handbook of Analytical Studies in Islamic Finance and Economics written by Zamir Iqbal and published by Walter de Gruyter GmbH & Co KG. This book was released on 2020-08-10 with total page 723 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook offers a unique and original collection of analytical studies in Islamic economics and finance, and constitutes a humble addition to the literature on new economic thinking and global finance. The growing risks stemming from higher debt, slower growth, and limited room for policy maneuver raise concerns about the ability and propensity of modern economies to find effective solutions to chronic problems. It is important to understand the structural roots of inherent imbalance, persistence-in-error patterns, policy and governance failures, as well as moral and ethical failures. Admittedly, finance and economics have their own failures, with abstract theory bearing little relation with the real economy, uncertainties and vicissitudes of economic life. Economic research has certainly become more empirical despite, or perhaps because of, the lack of guidance from theory. The analytics of Islamic economics and finance may not differ from standard frameworks, methods, and techniques used in conventional economics, but may offer new perspectives on the making of financial crises, nature of credit cycles, roots of financial system instability, and determinants of income disparities. The focus is placed on the logical coherence of Islamic economics and finance, properties of Islamic capital markets, workings of Islamic banking, pricing of Islamic financial instruments, and limits of debt financing, fiscal stimulus and conventional monetary policies, inter alia. Readers with investment, regulatory, and academic interests will find the body of analytical evidence to span many areas of economic inquiry, refuting thereby the false argument that given its religious tenets, Islamic economics is intrinsically narrative, descriptive and not amenable to testable implications. Thus, the handbook may contribute toward a redefinition of a dismal science in search for an elusive balance between rationality, ethics and morality, and toward a remodeling of economies based on risk sharing and prosperity for all humanity

Download or read book Risk Management for Islamic Banks written by Imam Wahyudi and published by John Wiley & Sons. This book was released on 2015-09-02 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gain insight into the unique risk management challenges withinthe Islamic banking system Risk Management for Islamic Banks: Recent Developments fromAsia and the Middle East analyzes risk management strategies inIslamic banking, presented from the perspectives of differentbanking institutions. Using comprehensive global case studies, thebook details the risks involving various banking institutions inIndonesia, Malaysia, UAE, Bahrain, Pakistan, and Saudi Arabia,pointing out the different management strategies that arise as aresult of Islamic banking practices. Readers gain insight into riskmanagement as a comprehensive system, and a process of interlinkedcontinuous cycles that integrate into every business activitywithin Islamic banks. The unique processes inherent in Islamic banking bring aboutcomplex risks not experienced by traditional banks. From Shariahcompliance, to equity participation contracts, to complicated salecontracts, Islamic banks face unique market risks. RiskManagement for Islamic Banks covers the creation of anappropriate risk management environment, as well as a stage-basedimplementation strategy that includes risk identification,measurement, mitigation, monitoring, controlling, and reporting.The book begins with a discussion of the philosophy of riskmanagement, then delves deeper into the issue with topics like: Risk management as an integrated system The history, framework, and process of risk management inIslamic banking Financing, operational, investment, and market risk Shariah compliance and associated risk The book also discusses the future potential and challenges ofIslamic banking, and outlines the risk management pathway. As anexamination of the wisdom, knowledge, and ideal practice of Islamicbanking, Risk Management for Islamic Banks contains valuableinsights for those active in the Islamic market.

Download or read book Banking Governance Performance and Risk Taking written by Faten Ben Bouheni and published by John Wiley & Sons. This book was released on 2016-09-16 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Development of emerging countries is often enabled through non-conventional finance. Indeed, the prohibition of interest and some other impediments require understanding conventional finance and Islamic finance, which both seek to be ethical and socially responsible. Thus, comparing and understanding the features of Islamic banking and conventional banking, in a globalized economy, is fundamental. This book explains the features of both conventional and Islamic banking within the current international context. It also provides a comparative view of banking governance, performance and risk-taking of both finance systems. It will be of particular use to practitioners and researchers, as well as to organizations and companies who are interested in conventional and Islamic banking.

Download or read book Is Islamic Banking Good for Growth written by Patrick A. Imam and published by International Monetary Fund. This book was released on 2015-04-28 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid growth of Islamic banking has attracted much attention lately in the economic literature. At the same time, a mature body of the literature has shown that financial development is broadly conducive to economic growth, which raises the question as to whether a similar conclusion holds for Islamic banking. Against this backdrop, this paper investigates the relationship between Islamic banking development and economic growth in a sample of low and middle income countries, using data over the period 1990-2010. The results show that, notwithstanding its relatively small size compared to the economy and the overall size of the financial system, Islamic banking is positively associated with economic growth even after controlling for various determinants, including the level of financial depth. The results are robust across across different specifications, sample composition and time periods.

Download or read book Public Finance and Islamic Capital Markets written by Syed Aun R. Rizvi and published by Springer. This book was released on 2016-11-01 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the financing of government budgets with non-debt-creating flows through risk-sharing capital market instruments. It offers a comparative analysis with conventional finance to demonstrate the ability of Islamic capital market instruments to create an impetus for economic stability and growth. Rizvi, Bacha, and Mirakhor guide readers chronologically through the unfolding effects of macroeconomic policy implemented to reduce crippling sovereign debt, increase government financing, and guide governments to the path of economic progress.

Download or read book Multi Country Report written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2017-06-21 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: This background paper, which is a supplement to the board paper on “Ensuring Financial Stability in Countries with Islamic Banking (IB) Sectors”, presents country experiences with reforms to strengthen regulatory oversight of the IB sector. It reviews experiences with and the progress made in adapting prudential, safety nets and resolution frameworks to the specifics of IB. The selection of several countries from a range of regions with different levels of development and approaches to IB was designed to provide a representative sample of country experiences so as to enrich the policy conclusions. Such a multiplicity of experiences can help to identify common challenges that countries face in reforming their regulatory frameworks and to distill best practices. The countries, for which detailed case studies have been undertaken, are: Bahrain, Djibouti, Indonesia, Kenya, Kuwait, Malaysia, Nigeria, Pakistan, Sudan, Turkey and the United Kingdom.