Download or read book Do the Type of Sukuk and Choice of Shari a Scholar Matter written by Christophe Godlewski and published by International Monetary Fund. This book was released on 2014-08-11 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sukuk, the shari’a-compliant alternative mode of financing to conventional bonds, have expanded considerably over the last decade. We analyze the stock market reaction to two key features of this financial instrument: sukuk type and characteristics of the shari’a scholar certifying the issue. We use the event study methodology to measure abnormal returns for a sample of 131 sukuk from eight countries over the period 2006-2013 and find that Ijara sukuk structures exert a positive influence on the stock price of the issuing firm. We observe a similar positive impact from shari’a scholar reputation and proximity to issuer. Overall our results support the hypotheses that the type of sukuk and the choice of scholars hired to certify these securities matter for the market valuation of the issuing company.

Download or read book Do the Type of Sukuk and Choice of Shari a Scholar Matter written by Christophe Godlewski and published by International Monetary Fund. This book was released on 2014-08-11 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sukuk, the shari’a-compliant alternative mode of financing to conventional bonds, have expanded considerably over the last decade. We analyze the stock market reaction to two key features of this financial instrument: sukuk type and characteristics of the shari’a scholar certifying the issue. We use the event study methodology to measure abnormal returns for a sample of 131 sukuk from eight countries over the period 2006-2013 and find that Ijara sukuk structures exert a positive influence on the stock price of the issuing firm. We observe a similar positive impact from shari’a scholar reputation and proximity to issuer. Overall our results support the hypotheses that the type of sukuk and the choice of scholars hired to certify these securities matter for the market valuation of the issuing company.

Download or read book Modern Islamic Investment Management written by Mohd Ma'Sum Billah and published by Springer. This book was released on 2019-07-04 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance has grown exponentially since 1963 and has reached more than 70 countries around the world with the asset size of about $2.5 trillion. The Islamic investment system today comprises of both asset-backed and asset-based offerings. There is an evidence of sustained demand for Islamic investment in the global market among both Muslim and non-Muslim investors with demand outstripping supply and management. This book is a timely guide to understanding the paradigm of Islamic investment and its application in the contemporary investment reality, and will be of particular interest to academia, industrialists, professionals, investors, investment managers, product designers, students, decision makers and policymakers globally in the field of investment.

Download or read book Handbook of Research on Theory and Practice of Global Islamic Finance written by Rafay, Abdul and published by IGI Global. This book was released on 2019-12-27 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt: As an emerging global phenomenon, Islamic economics and the financial system has expanded exponentially in recent decades. Many components of the industry are still unknown, but hopefully, the lack of awareness will soon be stilled. The Handbook of Research on Theory and Practice of Global Islamic Finance provides emerging research on the latest global Islamic economic practices. The content within this publication examines risk management, economic justice, and stock market analysis. It is designed for financiers, banking professionals, economists, policymakers, researchers, academicians, and students interested in ideas centered on the development and practice of Islamic finance.

Download or read book Rethinking Islamic Finance written by Ayesha Bhatti and published by Routledge. This book was released on 2018-12-12 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance’s phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their conventional counterparts only in legal lexicon and not in economic impact. The admirers argue that such instruments, irrespective of wider economic implications, rigorously comply with ‘juristically sound’ Islamic principles. This book aims to reconcile the above dispute. It argues that the financial impact of instruments is a consequence of the way they are priced and structured. The similarity in pricing and structures is an outcome not of the underlying Islamic financial modes but of the competitive environment in which Islamic instruments compete. Even risk-sharing and trade-based Islamic structures, if implemented in such an environment, would have a financial impact similar to that of conventional instruments. This book has a wider appeal for both academic and non-academic audiences. It can complement undergraduate and graduate courses as an additional reading on the intricacies of Islamic financial instruments and markets. For PhD students, it would help identify future research areas. To non-academics, it offers a deeper understanding regarding the working of the Islamic finance industry.

Download or read book The Growth of Islamic Finance and Banking written by Hussain Qadri and published by Routledge. This book was released on 2019-08-23 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the recent literature concerning Islamic banking and finance (IBF), focuses on the history of IBF since its inception and introduces the latest innovative concepts and practices in the field. The authors cover important topics such as the role of ownership, Shari`ah compliance and governance structures in raising debt capital using IBF practices, including Fatwa issues and the use of benchmarking practices. The book also addresses topics like archival data, the influence of leverage on ownership structure, and sukuk structures, as well as misconceptions, threats, challenges and opportunities in IBF. Finally, the book deals with prominent issues such as business score-carding, Takāful (Islamic Insurance), IBF implications for block-chain-based fintech and finance hub concepts in Islamic microfinance models. This edited volume is an important contribution to the IBF literature as it provides a much-needed in-depth look into industry practices through the perspective of corporate finance and governance. With its interdisciplinary approach covering legal and financial issues along with a wide variety of notable contributors, this book will be a valuable reference guide to both teachers and students of Islamic banking and economics.

Download or read book Enterprise Applications Markets and Services in the Finance Industry written by Nikolay Mehandjiev and published by Springer. This book was released on 2019-05-17 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes revised selected papers from the 9th International Workshop on Enterprise Applications, Markets and Services in the Finance Industry, FinanceCom 2018, held in Manchester, UK, in June 2018. The 11 papers presented in this volume were carefully reviewed and selected from 18 submissions. They were organized in topical sections named: financial innovation; market data analytics; and semantic modelling.

Download or read book Religion and Contract Law in Islam written by Valentino Cattelan and published by Taylor & Francis. This book was released on 2023-08-25 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is a contract in Islam? Is it an aspect of Muslim religion or of secular life? How much has it changed over the centuries? Undertaking a search that spans revelation, legal tradition, and the reality of the Muslim world, this book explores the Islamic contract (‘aqd in Arabic) as a ‘city’ at the crossroads of convergent paths of translation, comparison, and law in context. In particular, the book shows that only by re-orienting traditional categories of Western law-religion toward the East can an alternative path of discovery for the ‘aqd be advanced. Hence, through a fortuitous encounter with an Arab Girl, the reader will (re-)visit the Temple of Western modernity and explore a city ruled by Towers of dialectical forces, carrying a hermeneutical Ring that combines dialectics, Islamic studies, and media theory. This interdisciplinary approach will not only enrich our knowledge of the ‘aqd but also make it more understandable as a cultural and social construction to which both Muslims and non-Muslims have participated in forging its multiple representations. By inviting the readers ‘to know who they are’ while looking at her, the Arab Girl is already waiting for us to listen to the Islamic contract in a new way. By applying a distinctive law and religion approach to the study of the contract in Islam, the book provides a comprehensive exploration of a topic that is of interest to legal and economic comparatists as well as to readers in anthropology, Islamic and cultural studies, and it is also of topical meaning for today’s international lawyers and the operators of an increasingly multicultural and transnational market.

Download or read book Islamic Financial Products written by Mohd Ma'Sum Billah and published by Springer. This book was released on 2019-06-28 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance has grown exponentially since 1963 and has reached more than 70 countries around the world with the asset size of about $2.5 trillion. The Islamic financial system today comprises a sizable asset base and there is evidence of sustained demand for Islamic financial products and services in the global market, with demand outstripping supply. This book provides a new source of understanding of the Islamic financial products in view of facilitating academia, industrialists, professionals, product designers, students and policymakers globally. There is a mass of literature on Islamic finance available to the market, but very little research is found in the form of book exclusively on Islamic financial products and their structures. Thus, this book is a timely contribution to the global market with Islamic financial product solutions.

Download or read book Islamic Foundations of a Free Society written by Mustafa Acar and published by London Publishing Partnership. This book was released on 2016-09-12 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islam is growing rapidly both in its traditional homelands and in the West. Some in the West view Islam with a mixture of fear and suspicion. However, it is also fair to say that there is widespread ignorance about Islam, and especially about its relationship to political systems and the economy. Is Islam compatible with a free society and a free economy? Is the fact that many Muslim-majority states do not have free economies or polities a result of an incompatibility between Islam and political and economic freedom, or does it result from an unfortunate series of historical events? What role has past colonialism played in encouraging Muslim extremism? Exactly what does Islam have to say about freedom in economic, political and religious life? This book, written by a range of Islamic scholars, sheds a great deal of light on these crucial questions. It is an important book for those in the West who need to understand Islam better. It is also important for those in Muslim countries who can influence the development of political systems and economic policy. The publication of this book could not be more timely.

Download or read book Monetary Policy in the Presence of Islamic Banking written by Mariam El Hamiani Khatat and published by International Monetary Fund. This book was released on 2016-03-18 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key issues related to the conduct of monetary policy in countries that have Islamic banks. It describes the macrofinancial background and monetary policy frameworks where Islamic banks typically operate, and discusses the monetary transmission mechanism in economies where Islamic and conventional banking coexist. Most economies with Islamic banks also have conventional banks and this calls for a comprehensive approach to monetary policy. At the same time, a dual approach to monetary policy should be considered whenever the Islamic segment of the financial system is not as developed as the conventional one. The paper tries to shed light on potential spillovers between conventional and Islamic financial systems, and proposes specific recommendations on the design of Islamic monetary policy operations and for facilitating monetary transmission through the Islamic financial system.

Download or read book IMF Research Bulletin December 2014 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-09-15 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: The December 2015 IMF Research Bulletin features a sampling of key research from the IMF. The Research Summaries in this issue look at “The Impact of Deflation and Lowflation on Fiscal Aggregates (Nicolas End, Sampawende J.-A. Tapsoba, Gilbert Terrier, and Renaud Duplay); and “Oil Exporters at the Crossroads: It Is High Time to Diversify” (Reda Cherif and Fuad Hasanov). Mahvash Saeed Qureshi provides an overview of the fifth Lindau Meeting in Economics in “Meeting the Nobel Giants.” In the Q&A column on “Seven Questions on Financial Frictions and the Sources of the Business Cycle, Marzie Taheri Sanjani looks at the driving forces of the business cycle and macroeconomic models. The top-viewed articles in 2014 from the IMF Economic Review are highlighted, along with recent IMF Working Papers, Staff Discussion Notes, and IMF publications.

Download or read book Edinburgh Companion to Shari ah Governance in Islamic Finance written by Syed Nazim Ali and published by Edinburgh University Press. This book was released on 2020-03-18 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a group of prominent shari'ah scholars, academics and practitioners in the field of Islamic finance, this book contains 17 in-depth case studies of shari'ah governance practices and experiences as well as critical analysis of these practices. It serves as a standalone comprehensive reference work on shari'ah governance, containing an overview of its Islamic legal foundations, its evolution and development over the years, current practices and debates on shari'ah governance standards and future prospects for shari'ah governance in the global Islamic finance market.

Download or read book Do the Type of Sukuk and Choice of Shari a Scholar Matter written by Christophe J. Godlewski and published by . This book was released on 2014 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Islamic Accounting And Finance A Handbook written by Khaled Hussainey and published by World Scientific. This book was released on 2023-03-23 with total page 882 pages. Available in PDF, EPUB and Kindle. Book excerpt: Islamic finance is one of the fastest-growing sectors in international banking and finance. Owing to the increasing availability and ease of access to Islamic services, Islamic finance has become increasingly important not only in Muslim countries, but around the world, making it a global industry. Under the Gulf Cooperation Council (GCC) as well as in some regions, such as the Middle East and North Africa, a dual financial system is implemented, where Sharia-compliant products are marketed alongside conventional financial systems.In this thoroughly researched collection of chapters, researchers from around the world examine the role of Islamic finance in the economies and prospects of different companies. They discuss Islamic finance literature from both theoretical and empirical perspectives. The theoretical section of the book consists of conceptual chapters that enable readers to critically evaluate and expand their understanding of accounting and finance. The chapters in the empirical section of this handbook discuss and interpret empirical evidence to provide clear implications for practice, research, and society. This section bridges the gap between theory and practice and offers suggestions for future research. Islamic Accounting and Finance is geared towards scholars and students, but it is also of use to banking and finance practitioners.

Download or read book Asia Pacific Contemporary Finance and Development written by William A. Barnett and published by Emerald Group Publishing. This book was released on 2019-06-19 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume of The International Symposia in Economic Theory and Econometrics explores and investigates contemporary challenges and issues facing the Asia-Pacific economies. For researchers and students of economics and finance, this volume is a fascinating exploration of emerging topics in one the fastest growing economies in the world.

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.