Sebanyak 81 item atau buku ditemukan

Islamic Finance as a Complex System

New Insights

There has been a rapid increase in the interest in the study of Islamic finance, resulting in a dramatic rise in financing since the beginning of the century. By the end of 2017 global industry assets had reached $2.4 trillion and were forecasted to reach $3.2 trillion by 2020, despite historic challenges to Islam itself at the same time. This collection of chapters provides key theoretical, empirical, and policy insights into Islamic finance from an overall complex financial and economic systems perspective. Within the complex financial and economic systems framework, this book addresses questions such as how to conceptualize Islamic financial institutions in a nonlinear general equilibrium system, how to promote Islamic Finance in Africa, how “Islamic” is Islamic finance, and how it affects price stability, among other topics. The book provides case studies in Africa and Asia, addresses the subject in a structural financial CGE model, demonstrates the development impact of Islamic finance, and presents an Islamic version of the Iceland Plan for Monetary Reform.

This collection of chapters provides key theoretical, empirical, and policy insights into Islamic finance from an overall complex financial and economic systems perspective.

Islamic Finance and Sustainable Development

A Sustainable Economic Framework for Muslim and Non-Muslim Countries

The book is a collection of chapters discussing the Sustainable Development Goals in the broader context of Islamic finance along with mapping the SDGs with Maqasid Al-Shariah. It provides a framework for both Muslim and non-Muslim countries to develop a sustainable economy which encompasses not only the concept of the welfare state but also supports development-related activities, ensures financial inclusion through equal distribution of wealth and alleviation of poverty, and protects the overall environmental and ecological system. More specifically, this book explores various aspects of Islamic finance in relation to parameters of SDGs; restructuring of Islamic finance and connecting its dots in the light of SDGs; Islamic perspective on ESG and ecological quality; interest-free tools and modernization of Islamic financial institutions for sustainable development and economic stability; and the role of Islamic finance in infrastructure-related development activities. Consistent with the view that SDGs are embedded within the theme of Islamic finance, this book is specifically designed to meet the needs of key regulatory institutions, academic scholars, and industry practitioners both in the field of Islamic finance and sustainable finance.​

More specifically, this book explores various aspects of Islamic finance in relation to parameters of SDGs; restructuring of Islamic finance and connecting its dots in the light of SDGs; Islamic perspective on ESG and ecological quality; ...

Understanding Islamic Finance

In Understanding Islamic Finance Muhammad Ayub introduces all the essential elements of this growing market by providing an in-depth background to the subject and clear descriptions of all the major products and processes associated with Islamic finance. Key features include: Discussion of the principles of Islamic finance; Introduction to the key products and procedures that International Financial Institutions are using or may adopt to fund a variety of clients ensuring Sharī´ah compliance; Discussion of the role Islamic finance can play in the development of the financial system and of economies; Practical and operational examples that cover deposit and fund management by banks involving financing of various sectors of the economy, risk management, accounting treatment, and working of Islamic financial markets and instruments. This book is not only an important text for all banks and financial institutions entering this particular market with a commitment to building Islamic financial solutions, but is also essential reading for undergraduate and postgraduate students of Islamic finance.

Therefore, this book provides the vital bridge between the legal foundation and the theory of economic and financial systems in Islam.

The Growth of Islamic Finance and Banking

Innovation, Governance and Risk Mitigation

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.

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.

Islamic Finance

Principles and Practice, Second Edition

¾Islamic Finance is essential reading for students of economics, finance and Islamic studies. Moreover, a detailed examination of both financial products and fiscal and monetary policies ensures that it will also appeal to banking staff, financial jour

¾Islamic Finance is essential reading for students of economics, finance and Islamic studies.

Intermediate Islamic Finance

"The principal objective of this intermediate book on Islamic finance is to address selected issues in the theory and practice of Islamic finance that typical fall beyond the contents of classic introductory text books on the subject matter. These topics are often discussed at very basic level. The list of special topics includes the stability of Islamic finance, the role of ethics, the scope of financial engineering and derivatives, the function of Islamic capital markets, as well as perspectives on Islamic structured finance, corporate finance, and financial inclusion. The book can serve as a guide to hitherto unexplored avenues of research in Islamic finance for graduate and post-graduate students. This book includes: - some reference to case studies and specific problems in the practice of Islamic finance as well as conventional finance - a list of suggested further readings per chapter - appendices that include details of advanced analysis for the purpose of simplifying the level of discussion for advanced undergraduate students - graphs, figures, tables on financial and economic data"--

"The principal objective of this intermediate book on Islamic finance is to address selected issues in the theory and practice of Islamic finance that typical fall beyond the contents of classic introductory text books on the subject matter ...

Macroeconomic Policy and Islamic Finance in Malaysia

This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah. It attempts to holistically analyze issues related to public finance, which has been criticized for lack of transparency and justice in wealth distribution. This book explores these criticisms and discusses the principles of Islamic finance that may be applied to macroeconomic policymaking to create a better economy overall. It presents a case for a flat tax system, to make the economy more resilient to shocks, and financing methods that limit interest-rate-based debt contracts and allow greater risk sharing among the market participants on a broad scale. Using both qualitative and quantitative methods, this book models the Malaysian economy based on policies that apply the fundamental Islamic finance principle of risk sharing to demonstrate its benefits in spurring growth, promoting distributive justice, rendering the economy more stable, strengthening the potency of monetary policy, enhancing fiscal governance, and improving financial inclusion. The book will be of interest to students, policymakers, financial institutions, researchers, ministries of finance, central banks, securities commissions, and anyone interested in alternative economic paradigms.

This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah.

Islamic Finance Alternatives for Emerging Economies

Empirical Evidence from Turkey

Turkey could be considered the most important and leading Islamic country that has implemented the Western economic model successfully mostly because of the modernization efforts since late Ottoman period. As a result of the secularization efforts in the field of economy in early republican era, Muslim people in the country had to deal with non-Islamic practices that contradict with their religious beliefs. Islamic Finance Alternatives for Emerging Economies analyzes the emergence of the Islamic financial institutions in Turkey, by taking into account their history, their operational model, and their legal regulations in the financial field, to discuss the future of Islamic finance. The contributors also consider the ability of Islamic financial institutions and tools to respond to the financial needs of Muslims.

Islamic Finance Alternatives for Emerging Economies analyzes the emergence of the Islamic financial institutions in Turkey, by taking into account their history, their operational model, and their legal regulations in the financial field, ...

Islamic Finance

Theory and Practice

This book reviews the Islamic opposition to interest and assesses the feasibility of a non-interest financial system in the light of current economic theory. The Islamic critique of interest is set against a discussion of the methodology of Islamic economics and the opposition to interest within the Judeo-Christian tradition. The range of Islamic non-interest financial contracts is then detailed along with a review of the performance of Islamic banks to date; a model of the allocation of finance within a non-interest system is then presented. Assessment of the issues raised is made within the context of economic literature concerning debt versus equity finance; this includes an examination of banking instability and the business cycle, the determinants of levels of saving and the implications for public finance. The conclusions outline the advantages and disadvantages of a theoretical case for the prohibition of interest, and draws practical lessons for contemporary Western economies.

Given the propensity of the world financial system to crisis, this book explores the radical alternative put forward by Islamic (and Western) theories of non-interest banking.

Macroeconomic Policy and Islamic Finance in Malaysia

This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah. It attempts to holistically analyze issues related to public finance, which has been criticized for lack of transparency and justice in wealth distribution. This book explores these criticisms and discusses the principles of Islamic finance that may be applied to macroeconomic policymaking to create a better economy overall. It presents a case for a flat tax system, to make the economy more resilient to shocks, and financing methods that limit interest-rate-based debt contracts and allow greater risk sharing among the market participants on a broad scale. Using both qualitative and quantitative methods, this book models the Malaysian economy based on policies that apply the fundamental Islamic finance principle of risk sharing to demonstrate its benefits in spurring growth, promoting distributive justice, rendering the economy more stable, strengthening the potency of monetary policy, enhancing fiscal governance, and improving financial inclusion. The book will be of interest to students, policymakers, financial institutions, researchers, ministries of finance, central banks, securities commissions, and anyone interested in alternative economic paradigms.

Mainstream macroeconomic theory, essentially a Neoclassical-Keynesian synthesis, has dominated the practice of economics since the midtwentieth century. Monetary and fiscal policies that form the basis of this mainstream macroeconomics ...