Public Finance And Islamic Capital Markets
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Public Finance And Islamic Capital Markets
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Author : Syed Aun R. Rizvi
language : en
Publisher: Springer
Release Date : 2016-11-01
Public Finance And Islamic Capital Markets written by Syed Aun R. Rizvi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-01 with Business & Economics categories.
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.
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.
Islamic Capital Markets A Comparative Approach Second Edition
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Author : Obiyathulla Ismath Bacha
language : en
Publisher: World Scientific
Release Date : 2019-02-27
Islamic Capital Markets A Comparative Approach Second Edition written by Obiyathulla Ismath Bacha and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-27 with Business & Economics categories.
Islamic Capital Markets: A Comparative Approach (2nd Edition) looks at the similarities and differences between Islamic capital markets and conventional capital markets. The book explains each topic from both the conventional and the Islamic perspective, offering a full understanding of Islamic capital markets, processes, and instruments. In addition to a full explanation of Islamic products, the book also ensures a holistic understanding of the dual markets within which Islamic capital markets operate.Ideal for both students and current practitioners, the second edition of the highly successful Islamic Capital Markets: A Comparative Approach fills a large gap in the current literature on the subject, featuring case studies from Malaysia, Indonesia, Europe, and the Middle East. One of the few comprehensive, dedicated guides to the subject available, the book offers comprehensive and in-depth insights on the topic of Islamic finance for students and professionals alike.
Fundamentals Of Islamic Money And Capital Markets
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Author : Azmi Omar
language : en
Publisher: John Wiley & Sons
Release Date : 2013-02-15
Fundamentals Of Islamic Money And Capital Markets written by Azmi Omar 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 2013-02-15 with Business & Economics categories.
The first comprehensive guide to Islamic financial markets Based on the course taught at the International Islamic University Malaysia, this is the first book on Islamic finance to focus exclusively on money and capital markets. Covering basic concepts as well as current practices in Islamic financial markets, the book features case studies from real markets. It outlines the theory of money in terms of value, supply, and demand, while explaining the Islamic capital markets in terms of classifications, types of operations, valuations of securities, Islamic unit trust, ETFs, Islamic stock broking, and much more. Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance The first guide to Islamic finance focused solely on money and capital markets An excellent introduction to money market principles for students in Islamic banking and finance, as well as researchers and current practitioners, Fundamentals of Islamic Money and Capital Markets is a vital resource on the subject.
Raising Capital On Uk K Markets
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Author : Salim Al-Ali
language : en
Publisher: Springer
Release Date : 2019-05-10
Raising Capital On Uk K Markets written by Salim Al-Ali and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-10 with Business & Economics categories.
Ṣukūk markets have grown significantly worldwide since their emergence— in Islamic jurisdictions as well as conventional jurisdictions including the US, the UK, Germany, China, France and Singapore. The practices of ṣukūk markets, however, have come under close scrutiny. The legal and regulatory risks arising from the existing general legal environment and their impact on those investing and trading in ṣukūk markets has not received adequate attention. The topic of ṣukūk has been subject to extensive research and academic discussion from different perspectives, but the existing literature has not adequately addressed the issues associated with these markets. This book examines the contemporary issues encountered in the foundation and operation of ṣukūk markets by providing an in-depth discussion of the issues facing ṣukūk markets from legal and regulatory perspectives and focusing attention on how soundness can be ensured in the wider context. These issues go to the heart of what the ṣukūk market is really about, as recent debate has recognised in ṣukūk the replication of conventional bonds in ways that are considered unsatisfactory from an Islamic law point of view.
Critical Issues And Challenges In Islamic Economics And Finance Development
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Author : Velid Efendić
language : en
Publisher: Springer
Release Date : 2017-05-04
Critical Issues And Challenges In Islamic Economics And Finance Development written by Velid Efendić and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-04 with Business & Economics categories.
This book explores contemporary issues and trends facing Islamic banks, businesses and economies as presented at the International Conference of Islamic Economics, Banking and Finance. The authors leverage current empirical research and statistics to provide unique and fresh perspectives on the changing world of Islamic finance. They focus specifically on to the implementation of Islamic financial instruments and services in global capital markets and how their success can be evaluated. Chapters feature case studies from all over the world including examples from Afghanistan, Bosnia and Herzegovina and the United Kingdom, to name a few. The breadth and immediacy of the research presented by the authors will appeal to practitioners and scholars alike. The global outlook and rich data-based approach adopted in this book guarantee that it is a timely and valuable addition to the field of Islamic finance.
The Transformation Of Islamic Law In Global Financial Markets
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Author : Jonathan Ercanbrack
language : en
Publisher: Cambridge University Press
Release Date : 2015
The Transformation Of Islamic Law In Global Financial Markets written by Jonathan Ercanbrack and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
This contextual analysis of Islamic financial law challenges our understanding of both Islamic law and global financial markets.
Islamic Capital Market
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Author : Muhammad Hanif
language : en
Publisher: Independently Published
Release Date : 2020-08-22
Islamic Capital Market written by Muhammad Hanif and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-22 with categories.
Islamic banking was started in the last quarter of the 20th century to cater the needs of Muslims around the world, although it is not limited to Muslims only. It has shown tremendous growth and expansion worldwide. The global volume of assets under the Islamic financial system has reached the figure of US$ 2.5 trillion by the end of 2018 (potential size is above US$ 9.0 trillion), depicting average yearly growth around 16% from 2010-18 [GIFR-2019]. Within eight years, the industry volume of assets is more than double. Islamic finance expands in allied financial sectors, including insurance, capital market operations (equity and Sukuk) and microfinancing in addition to the traditional banking sector. However, dominant share in assets under Islamic financial system is concentrated in the banking sector. According to IFSB (report-2019) share of banking in global Islamic financial services industry [volume 2.19 trillion] is 71.7%, followed by capital market operations with 27% [Sukuk 24.2% & Islamic funds 2.8%] and Islamic insurance (Takaful) 1.3%. Although it was started as merely an alternative option for Halal financing, now it has become a complete financial solutions industry and expanding day by day. There are multiple Sukuk [Islamic bonds] issues, including private and public sectors, alike. Islamic indices based on Shari'ah compliance filters are developed globally in Muslim and non-Muslim countries. Firms engaged in screening of Shari'ah compliant equities include DJIM, S&P, MSCI, FTSE and Bloomberg in addition to multiple country-specific Islamic indices. Important regions which contribute in global Islamic financial services industry include GCC (42.3%), Asia (28.2%), MENA-ex GCC (25.1%) and balance (4.4%) from rest of the world [IFSB-2018].This book is result of a decade of teaching Islamic banking & finance course to under graduation & Master in Business classes. The book is written with a clear focus on learning the concept of Islamic capital market and investments by accounting, banking, business and finance students & professionals. Chapter-1 introduces the basics of capital market. Shari'ah perspective on capital market is introduced in chapter-2, along with developments in the area of Islamic capital market. Chapter-3 presents critical review of Shari'ah screening methodology of multiple agencies. Chapter-4 is dedicated to elaborate discussion on sukuk certificates Chapter 5-7 address financial calculations in the areas of required returns, asset valuation and portfolio selection. Chapter-8 introduces mutual funds. Portfolio performance evaluation is presented in chapter-9, while last chapter discusses financial analysis of a company. In this edition, due attention has been given to present material in reader friendly mode, in addition to thorough review of content, exercises and figures. Increased number of multiple-choice questions and mini cases also form part of updated edition. This book is useful for business as well as for banking/finance graduates and practitioners of Islamic banking & finance. It is also useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance.
Islamic Capital Market
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Author : Muhammad Hanif
language : en
Publisher: CreateSpace
Release Date : 2014-05-01
Islamic Capital Market written by Muhammad Hanif and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-01 with Business & Economics categories.
Islamic banking and finance industry is expanding world over with an unprecedented growth. The global volume of Shari'a compliant assets has reached to US $ 1,700 Billion by the end of 2013, displaying a growth of 21% from 2007-13 (GIBCR-2014) Middle East and North Africa (MENA) region is the centre of Islamic finance market and contributes 74% share in global assets under Islamic finance, followed by East Asian region with a share of 17% while 9% from rest of the world. (IFSL, 2013). Share of Bank assets is 90% followed by equity funds 5% and rests are others in the global volume of assets under Islamic finance. For Islamic financial industry, deposit collection is not as much difficult as is financing and investments in business and industry. The investment avenues are limited due to Shari'a compliance restrictions as compared to conventional banks. For IFIs, Shari'a compliant modes of investments are a must. Conventional interest based bonds, leasing and insurance companies' certificates and government securities are not in line with Islamic financial system. However investment in equities, which are primarily profit and loss sharing based, fall within Shari'a compliant investment universe. Capital market is one of the major sources of diverting funds from savers to investors. Islamic finance is expanding in capital market in the form of Islamic indexes, Sukuk, money market funds and equity market funds. To address the issue of investment in marketable equities (which are primarily based on profit and loss sharing principle), Shari'a screening filters have been developed and we have above ten Islamic Indexes operating worldwide including DJIM, FTSE, S&P, MSCI, HSBC, Ameri, BID, Azzad and KMI. There exist differences in filtering criteria of these indexes and it is quite possible that a company is Shari'a compliant under one index and not under other(s) [see Derigs & Marzban, 2008]. This difference exists among all followers of revealed books (Jews, Christians and Muslims), in explanation and detailed rules development based on revelations. There are at least five schools of thoughts based on solid reasons and logic among Muslims including Hanfi, Shafai, Malki, Hanbali and Jaafari. In Pakistan Al-Meezan Investment Management Ltd (AIML), subsidiary of a leading IFI (Meezan Bank) took the initiative and started screening of KSE listed securities through Shari'a compliance filters and developed KSE-Meezan Index (KMI-30). Test of Shari'a compliance of stocks is done under the guidance of qualified and reputed Shari'a experts. For a security, to be “Shari'a compliant” based on KMI Criteria, it must meet ALL the six key tests given below (KMI-2008).This book is written with a clear focus on learning of Islamic capital market by accounting, banking, business and finance students/professionals. Under Islamic capital market two dedicated chapters have been included; each for equities and Sukuk. Shari'a compliance of equity securities, trading rules and valuation mechanism discussed under equity chapter. Chapter-2 on Sukuk includes origin, development, types and Sukuk process along with Shari'a rulings. In this edition due attention has been given to present material in reader friendly mode in addition to thorough review of content, exercises and figures. Updated figures on equity funds and Sukuk are also part of this edition. This book is useful for MBA/BBA students as well as for banking/finance students and practitioners of Islamic banking & finance. It is also useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance.
Islamic Bond Issuance
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Author : Mr.Paul S. Mills
language : en
Publisher: International Monetary Fund
Release Date : 2008-07-01
Islamic Bond Issuance written by Mr.Paul S. Mills and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07-01 with Business & Economics categories.
Recent years have witnessed a surge in the issuance of Islamic capital market securities (sukuk) by corporates and public sector entities amid growing demand for alternative investments. As the sukuk market continues to develop, new challenges and opportunities for sovereign debt managers and capital market development arise. This paper reviews the key developments in the sukuk market and informs the debate about challenges and opportunities going forward.