Product Development In Islamic Banks
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Product Development In Islamic Banks
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Author : Habib Ahmed
language : en
Publisher: Edinburgh University Press
Release Date : 2011-01-27
Product Development In Islamic Banks written by Habib Ahmed and has been published by Edinburgh University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-01-27 with Business & Economics categories.
This book systematically studies the process of developing Islamic financial products for banks.
Governance Risk Management And Financial Product Development In Islamic Financial Institutions
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Author : Michael Bock
language : en
Publisher: GRIN Verlag
Release Date : 2010-09-28
Governance Risk Management And Financial Product Development In Islamic Financial Institutions written by Michael Bock and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-28 with Business & Economics categories.
Master's Thesis from the year 2010 in the subject Business economics - Investment and Finance, grade: 1,7, Maastricht University (School of Business and Economics), course: -, language: English, abstract: 1.1 General Introduction to the Topic Islamic finance is on the march. The underlying logic is simple: All investments and services are consistent with the principles of Islamic law, called Shari’ah, which literally means ‘a clear path to be followed and observed’ (Hourani, 2004a). This clear path is followed only if profit does not stem from interest (riba), speculation (gharrar) or sectors that are considered sinful according to the Qur’an (haraam), namely everything that involves alcohol, tobacco, entertainment, gambling or pork, just to name a few. The high potential of Islamic finance is clear for three reasons. The first reason relates to the emergence of a new consumer type, as there is increased demand for a Shari’ah-compliant way of investing that stems from increased globalization. The middle class from emerging markets rose from one third to 56 percent between the 1990s and 2006 (The Economist, 2009). Many Muslim countries can be found in the list of emerging markets, such as Egypt, Pakistan and Indonesia. With the Muslim population of the world exceeding 1.5 billion people (about 21 percent of the world population) and due to the fact that it is the fastest growing religion, it becomes clear why the general conditions for Islamic finance are so favourable (Central Intelligence Agency, 2009). The second reason relates to the global trend for sustainable investment; the fact that Islamic finance is an ethical way of investing which does not invest in harmful businesses and instead donates purified gains to charity is becoming more and more attractive among non-Muslim investors as well (Global Finance, 2007). The Shari’ah aspect makes Islamic financial products an alternative to socially responsible investments (Khan, 2009). The last reason is a matter of trust; in the face of the financial crisis that began shattering the world in 2007, many investors lost confidence in the traditional banks and their practices (Reuters, 2008; CNN, 2009). Today even the Holy See states that ‘the ethic principles on which Islamic finance is based may bring banks closer to their clients and to the spirit which should mark every financial service’ (Bloomberg, 2009). According to recent estimates, IFIs could increase their assets under management from roundabout $700 billion to over $1.6 trillion in 2012 (Reuters, 2009). WICHTIG: Sämtliche Recherchetätigkeiten wurden bei in den Vereinigten Arabischen Emiraten ansässigen islamischen Banken vor Ort durchgeführt.
Product Development In Islamic Banking
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Author : Dr. Mahmood Ahmed
language : en
Publisher:
Release Date : 2019
Product Development In Islamic Banking written by Dr. Mahmood Ahmed and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Product development in Islamic banking is a continuous process to keep pace with the growth of the Islamic banking industry. But the question is: what are the challenges and opportunities of it? In this paper six challenges have been identified vis a vis the opportunities have been discussed. The challenges are: (i) ensuring the maximum utilization of the principles of Shari'ah; (ii) disparity between ideal and reality; (iii) realization of Maqasid Al-Shari'ah; (iv) different interpretations of Shari'ah; (v) the reluctance of market players; and (vi) weak plan and budgetary support for product development. The opportunities show light at the end of the tunnel for those shaping the future Islamic banking. Therefore three suggestions have been made here. Those are: first, external and internal constraints inhibiting the development of Shari'ah-based products need to be alleviated. This can be done by providing an enabling institutional environment under which Islamic banks can develop products. Second, there should be a new approach to Islamic banking product innovation; research and development. Finally, a mechanism has to be introduced that creates incentives for developing the appropriate Shari'ah-based products in Islamic banking. The types of Islamic banking products shape the perceptions of customers and the community and determine the level of trust and credibility that stakeholders have for the sector in the long run.
Sustainable Development And Infrastructure
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Author : Amadou Thierno Diallo
language : en
Publisher: Springer Nature
Release Date : 2021-02-08
Sustainable Development And Infrastructure written by Amadou Thierno Diallo and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-02-08 with Business & Economics categories.
Most books on Islamic finance and development issues are written from an academic perspective. Although academic reflection is key for future direction, dissatisfaction with previous development efforts, as evidenced by their lack of sustainability, suggests the need for a different type of review. Development work is complex and requires a detailed and transparent approach in order to ensure a cogent resolution for potential long-term issues. Each intervention area requires specific elaboration for meaningful impact. The perfect solution for one sector might be detrimental for another. Islamic finance, with its strict Riba restrictions, rules, and other checks and balances, is a good fit for infrastructure development in pursuit of sustainable development. When it comes to sustainable development, this book argues, Islamic finance has the tools to intervene for maximum impact. However, the issue of sustainability is not only related to Islamic finance; more policy discourse is needed. This requires guidance from the principles of Islamic economics, as well. This book discusses infrastructure development vis-à-vis sustainable development, drawn from decades of real-life development banking experience, and proposes impactful intervention methods based on wisdom from Islamic economics and finance.
A New Approach To Product Development In Islamic Finance
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Author : Muhammad Rehan Tahir
language : en
Publisher:
Release Date : 2009
A New Approach To Product Development In Islamic Finance written by Muhammad Rehan Tahir and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Islamic Finance is a banking sector which caters to the Muslim population's banking needs by complying with the Islamic financial law. In this research some of the most prevalent financial products in Islamic Finance are surveyed and various forms of Islamic asset securitizations (Sukuks) are studied. Two issues of Islamic asset securitizations (Sukuks) are analyzed in detail. This analysis involves determining how well Sukuks serve the needs of Islamic Finance customers and also their shortcomings. In order to develop more customer-need centric financial products in Islamic Finance a new product development template is proposed. This template is a step-by-step process of developing Islamic financial products and is derived from the best practices of product development in the engineering domain. This methodology aims to formalize and improve the product development process in Islamic Finance. As an illustration of the proposed template, a new product is developed for Islamic Finance using this template. This example illustrates how religious restrictions in Islamic Finance dictate the form and substance of financial products during their development.
Financial Innovation And Engineering In Islamic Finance
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Author : Samir Alamad
language : en
Publisher: Springer
Release Date : 2017-04-13
Financial Innovation And Engineering In Islamic Finance written by Samir Alamad and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-13 with Business & Economics categories.
This book provides two important contributions to existing theories in the financial innovation literature. First, it extends the existing literature of innovation orientation to a completely new field and construct that is based on a religious imperative as a framework within which financial innovation is constrained. It explains how an innovation orientation in IFIs can be directed within religious rules, which indicates that innovation orientation in IFIs is a learning philosophy. Second, the book introduces and examines the plasticity of Shariah as a shared boundary object and its dynamic role in managing tension and conflicting values in the financial innovation process. Furthermore, building on the empirical results, the study illustrates the insights that each theoretical lens affords into practices of collaboration and develops a novel analytical framework for understanding religious orientation towards financial innovation. This practical contribution, of the developed framework, could form the basis for a standardised framework for the Islamic finance industry. The book concludes by noting the policy and managerial implications of its findings and provides directions for further research.
Islamic Capital Markets
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Author : Kabir Hassan
language : en
Publisher: John Wiley & Sons
Release Date : 2011-04-04
Islamic Capital Markets written by Kabir Hassan 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 2011-04-04 with Business & Economics categories.
Islamic Finance has experienced rapid growth in recent years, showing significant innovation and sophistication, and producing a broad range of investment products which are not limited to the complete replication of conventional fixed-income instruments, derivatives and fund structures. Islamic Finance represents an elemental departure from traditional interest-based and speculative practices, relying instead on real economic transactions, such as trade, investment based on profit sharing, and other solidary ways of doing business, and aims to incorporate Islamic principles, such as social justice, ecology and kindness, to create investment products and financial markets which are both ethical and sustainable. Products created according to Islamic principles have shown a low correlation to other market segments and are relatively independent even from market turbulences like the subprime crisis. Therefore, they have become increasingly popular with secular Muslims and non-Muslim investors, as highly useful alternative investments for the diversification of portfolios. In Islamic Capital Markets: Products and Strategies, international experts on Islamic Finance and Sharia'a Law focus on the most imminent issues surrounding the evolution of Islamic capital markets and the development of Sharia'a-compliant products. The book is separated into four parts, covering: General concepts and legal issues, including Rahn concepts in Saudi Arabia, the Sharia'a process in product development and the integration of social responsibility in financial communities; Global Islamic capital market trends, such as the evolution of Takaful products and the past, present and future of Islamic derivatives; National and regional experiences, from the world's largest Islamic financial market, Malaysia, to Islamic finance in other countries, including Germany, France and the US; Learning from Islamic finance after the global financial crisis; analysis of the risks and strengths of Islamic capital markets compared to the conventional system, financial engineering from an Islamic perspective, Sharia'a-compliant equity investments and Islamic microfinance. Islamic Capital Markets: Products and Strategies is the complete investors' guide to Islamic finance.
A New Financial Dawn
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Author : Joseph A. DiVanna
language : en
Publisher:
Release Date : 2009
A New Financial Dawn written by Joseph A. DiVanna and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Banks and banking categories.
A New Financial Dawn examines the global economic crisis in the context of how western markets influence Islamic financial innovation. Joseph DiVanna, author and Managing Director of Maris Strategies, and Antoine Sreih, CEO of Europe Arab Bank, discuss how market conditions are creating a fertile seedbed for the next generation of innovation in Shariah-compliant financial services. The authors also consider the rising discourse that Islamic finance could be a replacement for capitalism. The book explores how Islamic finance differs from conventional finance by reviewing the early results from banks at the vanguard of product development. DiVanna and Sreih argue that financial institutions provide a nation with social financial cohesion, the economic glue that holds a society together by facilitating the commercial needs of business and making possible the wide variety of lifestyles enjoyed within a nation. Posing the question Does Islamic finance provide new ethically based economic cohesion to the vast underserved Muslim communities?, this book examines how Islamic banking has capitalized on innovation over the past two decades to fulfil its promise of equality and fairness by rebuilding trust in banking and financial services. Setting the stage for future research, DiVanna and Sreih explore rising issues such as Islamic monetary union, alternative forms of currency and a host of factors that are shaping this new industry.
Exploring Product Development Process In Islamic Banks With Special Reference To Islamic Trade Financing
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Author : Mohammad Fazal Haque
language : en
Publisher:
Release Date : 2016
Exploring Product Development Process In Islamic Banks With Special Reference To Islamic Trade Financing written by Mohammad Fazal Haque and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Islamic Financial Products
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Author : Mohd Ma'Sum Billah
language : en
Publisher: Springer
Release Date : 2019-06-28
Islamic Financial Products written by Mohd Ma'Sum Billah and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-28 with Business & Economics categories.
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.