Benchmarking Of Financial Solutions Offered By Islamic Banks
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Benchmarking Of Financial Solutions Offered By Islamic Banks
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Author : Muhammad Abdul Majid
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2012-03
Benchmarking Of Financial Solutions Offered By Islamic Banks written by Muhammad Abdul Majid and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03 with categories.
It is general perception of public that financial solutions and products offered by Islamic banks are similar to conventional banks and therefore both contains the element of interest when product prices are considered. As the system is in the evolving stage so there are many factors which hinders its acceptability amongst the general public as people are confused about the Shariah (law of Islam) compliance of its products. Moreover, Islamic banks might be offering financial solutions which might not be having as attractive returns as conventional banks. So if all the principles of Islamic laws are not followed, customers may be at disadvantage and suffer loss due to some constraints in the contract. There is immense competition in banking sector globally and specifically in Pakistan in recent years. The growth of Islamic banking has created competition not only among Islamic banks but with conventional banks as well. So from customer s perspective, we need to know which banking solution is more economical and flxible.Here We critically analyze and compare solutions of Islamic banks against conventional banks.
Benchmarking Islamic Finance
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Author : Mohd Ma'Sum Billah
language : en
Publisher: Routledge
Release Date : 2021-07-14
Benchmarking Islamic Finance written by Mohd Ma'Sum Billah and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-14 with Business & Economics categories.
Pricing or benchmarking is a process of evaluating the performance of a financial company’s products and services or systems, against other businesses, considered to be at the top of their field, by applying a measurement of “best in performance.” This book includes contributions from the leading global experts in the field who tackle topics such as whether the Islamic financial system has been dependent on the LIBOR / EURIBOR in its benchmarking exercises to date, and thus, whether it will be affected negatively by the predicted non-existence of the LIBOR / EURIBOR from 2021 onwards. They also address the question of whether the Islamic financial system requires benchmarking of its products and services and consider the emergence of Sharī ͑ah-justified benchmarking in today’s Islamic financial system. Additionally, they look at how benchmarking formulas should be adapted to ensure the satisfaction of customers within the principles of Maqasid al-Sharī ͑ah. It takes a legal and institutional approach to the subject, which readers will find particularly valuable, as there are various forms of Islamic finance institutions that do not conform to established models in the finance industry. Furthermore, there are emerging business models that will benefit from this line of investigation. This book offers a timely analysis of these issues and redresses the existing misconceptions and misinterpretations pertaining to benchmarking, in an Islamic finance context, and, as such, provides guidance and strategies for future directions. It will appeal to researchers of Islamic banking, finance, and insurance, as well as, practitioners, particularly standard setting bodies, regulators, and policy makers.
New Issues In Islamic Finance And Economics
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Author : Hossein Askari
language : en
Publisher: John Wiley & Sons
Release Date : 2011-12-19
New Issues In Islamic Finance And Economics written by Hossein Askari and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-19 with Business & Economics categories.
New Issues in Islamic Finance & Economics: Progress and Challenges provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.
Financial Risk Management For Islamic Banking And Finance
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Author : I. Akkizidis
language : en
Publisher: Springer
Release Date : 2007-12-04
Financial Risk Management For Islamic Banking And Finance written by I. Akkizidis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-04 with Business & Economics categories.
Financial institutions are increasingly providing Islamic financial contracts in global markets. As a result of this market growth there is a high demand to understand how to assess and manage the risks arising from applying Islamic financial products and services. Credit, operational, market and liquidity risks together with the risk of non compliance with the Shariah law are becoming very hot issues for financial institutions. This book presents a common framework on how to efficiently manage the risks faced.
Islamic Finance Risk Sharing And Macroeconomic Stability
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Author : Muhamed Zulkhibri
language : en
Publisher: Springer
Release Date : 2019-02-20
Islamic Finance Risk Sharing And Macroeconomic Stability written by Muhamed Zulkhibri and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-20 with Business & Economics categories.
The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic finance. Many theoretical studies generally claim superiority of an Islamic financial system based on pure equity and participatory modes of financing, while empirical studies provide mixed results. Studies and discussions are needed to fully understand how Islamic finance could contribute to the ongoing discussion of financial stability. Against this background, this book addresses various aspects of Islamic finance and the risk-sharing mechanism contributions to the overall macroeconomic and financial stability. Undoubtedly, the findings and recommendation from this book should be of great interest not only to future academic researchers in the field of macroeconomic stability and Islamic finance, but also to policy makers and regulators who are keen on drawing lessons from Islamic finance experiences to prevent similar crisis in the future.
Rethinking Islamic Finance
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Author : Ayesha Bhatti
language : en
Publisher: Routledge
Release Date : 2018-12-12
Rethinking Islamic Finance written by Ayesha Bhatti and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-12 with Business & Economics categories.
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.
Foundations Of Shari Ah Governance Of Islamic Banks
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Author : Karim Ginena
language : en
Publisher: John Wiley & Sons
Release Date : 2015-04-06
Foundations Of Shari Ah Governance Of Islamic Banks written by Karim Ginena and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-04-06 with Business & Economics categories.
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.
Islamic Finance Legal Frameworks Practices And Shariah Criteria Review Uum Press
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Author : Asmadi Mohamed Naim
language : en
Publisher: UUM Press
Release Date : 2020-01-01
Islamic Finance Legal Frameworks Practices And Shariah Criteria Review Uum Press written by Asmadi Mohamed Naim and has been published by UUM Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-01-01 with Business & Economics categories.
The book provides comprehensive compilation on Islamic legal documents related to Islamic financial system consists of legal statutes, frameworks, guidelines, circulars and internal compliant manual covering Islamic banking, takaful and Islamic capital markets. Brief description of those documents are laid down to assist non-legal background readers in having comprehensive view of Islamic finance legal system. Few special focuses are done to Shariah screening methodologies for stocks, Islamic fund and real estate with special review on few sukuk issuances as to familiarize reader with the principle terms and conditions (PTC) of the sukuk. Islamic finance is not just a system but it is a way to achieve the spirit of Shariah i.e. maqasid Shariah in providing prosperity to the society in blessing ways avoiding all prohibited elements as stated in Islamic law.
Risk Management Implementation And Solutions For Islamic Banking And Finance
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Author : Kiran Javaria
language : en
Publisher: Cambridge Scholars Publishing
Release Date : 2019-01-18
Risk Management Implementation And Solutions For Islamic Banking And Finance written by Kiran Javaria and has been published by Cambridge Scholars Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-18 with Reference categories.
Islamic finance is a growing part of the global financial sector. The risks faced by Islamic banks are real, and how well they mitigate them will determine their future. This book answers questions regarding how Islamic Financial Institutions should focus on their risk management practices and the necessary solutions and policy implementation tactics. It also analyses the risk mitigation techniques Islamic institutions are putting to use, looking at different Islamic banks from across the world to investigate their strategies and solutions. Among the topics discussed here are the implementation and outcomes of Basel III, practical enterprise risk management practices, liquidity risk management, and the success story of the global takaful industry.
Enhancing Islamic Finance Through Risk Benchmarking
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Author : Rodrigo Zepeda
language : en
Publisher:
Release Date : 2014
Enhancing Islamic Finance Through Risk Benchmarking written by Rodrigo Zepeda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This article argues that the development of a new specialist "risk benchmarking framework" for public and private Islamic BFIs operating regionally (excluding central banks), is the first and necessary step towards empirically proving a claim of Islamic finance superiority right. The development of a collaborative risk benchmarking framework for Western and Islamic banks and financial institutions (BFIs) would contribute to the enhancement of Islamic finance by: (i) contributing to enhancing the legitimacy of Islamic finance; (ii) enhancing risk management systems and practices in Islamic BFIs; and (iii) affording realistic opportunities for the offering of new Shari'ah compliant Islamic finance products. The article provides a high level analysis of the theoretical Islamic finance risk benchmarking operational framework.