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Monetary Policy, Islamic Finance, and Islamic Corporate Governance

An International Overview

Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International overview explores the interrelationships between corporate governance from the perspective of shari’ah, banking industry and monetary policy and is a must-read for students and professionals.

Governing quintuple helix innovation: Urban living labs and socio-ecological entrepreneurship. Technology Innovation Management Review, 6(3), 22–30. Badan Pusat Statistik (BPS). (2015). Produk domestik bruto menurut pengeluaran ...

Handbook of Research on Islamic Business Ethics

The Handbook of Research on Islamic Business Ethics is an essential source for policymakers and researchers to gain an understanding of pressing ethical issues in the Islamic business world. The primary objective is to provide readers with an insight into the ethical principles that govern Islamic business conduct. These principles are articulated with a view to evaluating whether business actors uphold their social responsibilities and are committed to ethical values in their conduct. Exploring the interweaving relationship between Islamic business ethics and the market, this Handbook examines the critical role that ethics can play in ensuring that business thrives. It offers theoretical perspectives on research and goes beyond the conventional treatment of Islamic ethics. It debates important market issues and asserts that social actors in the Islamic business world should be cognisant of these issues so as to behave in a moral and responsible manner. Implications for researchers and for market conduct are illuminated. Readers wanting to familiarize themselves with day-to-day Islamic business ethics will find this Handbook an invaluable guide.

Bringing faith, the divine and the sacred, as well as the profane, so forthrightly into the marketing mix attracts greater scrutiny from all stakeholders, regardless of faith. Furthermore, it is clear that rather than this phenomenon ...

Financial Innovation and Engineering in Islamic Finance

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.

Since the global financial crisis of 2008, interest in the Islamic banking and financial system has sharply increased. After the near collapse of the world financial system and the bankruptcies and government bailouts of several long ...

Artificial Intelligence and Islamic Finance

Practical Applications for Financial Risk Management

This book provides a systematic overview of the current trends in research relating to the use of artificial intelligence in Islamic financial institutions (IFIs), across all organization of Islamic cooperation (OIC) countries. Artificial Intelligence and Islamic Finance discusses current and potential applications of artificial intelligence (AI) for risk management in Islamic finance. It covers various techniques of risk management, encompassing asset and liability management risk, credit, market, operational, liquidity risk, as well as regulatory and Shariah risk compliance within the financial industry. The authors highlight AI’s ability to combat financial crime such as monitoring trader recklessness, anti-fraud and anti-money laundering, and assert that the capacity of machine learning (ML) to examine large amounts of data allows for greater granular and profound analyses across a variety of Islamic financial products and services. The book concludes with practical limitations around data management policies, transparency, and lack of necessary skill sets within financial institutions. By adopting new methodological approaches steeped in an Islamic economic framework (e.g., analysing FinTech in the context of Shariah principles and Islamic values), it devises practical solutions and generates insightful knowledge, helping readers to understand and explore the role of technological enablers in the Islamic finance industry, such as RegTech and artificial intelligence, in providing better and Shariah-compliant services to customers through digital platforms. The book will attract a wide readership spanning Shariah scholars, academicians, and researchers as well as Islamic financial practitioners and policymakers.

61–82. Leong, K. & Sung, A., 2018. FinTech (Financial Technology): What is it and how to use technologies to create business value in FinTech way?. International Journal of Innovation, Management and Technology, 9(2), pp. 74–78.

Blockchain, Fintech, and Islamic Finance

Building the Future in the New Islamic Digital Economy

While creating new forms (Shari'ah-compliant standards) to operationalize Islamic values and ethics into the current conventional economic system and banking products is crucial to sustain the Islamic economy as it is today, we also need to develop new strategies to cope with the next economic evolution. The digital revolution in financial services is under way, and digital disruption has the potential to shrink the role and relevance of today’s banks, while simultaneously creating better, faster, cheaper services that will be an essential part of everyday life. This forward-looking book discusses the crucial innovation, structural and institutional development for financial technologies (fintech) in Islamic finance. The authors explain concepts in fintech and blockchain technology and follow through with their applications, challenges and evolving nature. The book provides insights into technology which will enable and enhance actual prescribed Islamic behaviors in modern economic transactions. Case studies highlight how to cope with modern transactional behavior with the advent of global online/mobile markets, shorter attention spans, and impersonal trade exchange.

This forward-looking book discusses the crucial innovation, structural and institutional development for financial technologies (fintech) in Islamic finance.

Introductory Mathematics and Statistics for Islamic Finance

A unique primer on quantitative methods as applied to Islamicfinance Introductory Mathematics and Statistics for Islamic Finance +Website is a comprehensive guide to quantitative methods,specifically as applied within the realm of Islamic finance. Withapplications based on research, the book provides readers with theworking knowledge of math and statistics required to understandIslamic finance theory and practice. The numerous worked examplesgive students with various backgrounds a uniform set of commontools for studying Islamic finance. The in-depth study of finance requires a strong foundation inquantitative methods. Without a good grasp of math, probability,and statistics, published theoretical and applied works in Islamicfinance remain out of reach. Unlike a typical math text, this bookguides students through only the methods that directly apply toIslamic finance, without wasting time on irrelevant techniques.Each chapter contains a detailed explanation of the topic at hand,followed by an example based on real situations encountered inIslamic finance. Topics include: Algebra and matrices Calculus and differential equations Probability theory Statistics Written by leading experts on the subject, the book serves as auseful primer on the analysis methods and techniques students willencounter in published research, as well as day-to-day operationsin finance. Anyone aspiring to be successful in Islamic financeneeds these skills, and Introductory Mathematics and Statisticsfor Islamic Finance + Website is a clear, concise, and highlyrelevant guide.

... entrepreneurship, technology, weather, taxation, and soon. Fromthe demand andsupply functions we obtain an excess demand function, defined as the difference between demand and supply, If supply exceeds demand, prices drop; ...

Emerging Issues in Islamic Finance Law and Practice in Malaysia

Through a thorough analysis of emerging legal and regulatory issues in Islamic finance law and practice in Malaysia, this exciting new study covers issues such as blockchain technology, anti-money laundering, and FinTech in Islamic finance.

in Computation from the University of Manchester Institute of Science and Technology, United Kingdom, and an MBA from the Business Graduate School, University Putra Malaysia in 1999. He has more than 20 years of experiences in the ...

Positioning Islamic Hotel Tourism

A New Perspective

Several factors contribute to the rapid development of tourism, such as strong economic growth. This result in more disposable income for travel, changing lifestyles and the expansion in transportation industry, which leads to cheaper travel costs and increased demand for tourism products and services is one of the largest and fastest growing economic sectors in the world. The growing demand for products and services comply with Islamic law, or shariah law is obvious and substantial in financial, food and travelling industry. Many scholars have identified religion as a stable factors influencing consumer buying behavior resulting in more demand for religious related product and services. In hospitality industry, scholars have highlighted the growing demand on Islamic Friendly Hotel (IFH) by Muslim tourists causing high commitment in developing such industry. This study found organizational factors including innovation champion, organizational context, and tangible resources and marketing strategy and environmental factors such as demand of Islamic hospitality, government ruling and incentives and competitors strategy were the key drivers to the implementation. These key drivers of implementation provides guidelines for hotels that intend to implement new services, reduced the learning time and promote innovative activities within hotels in Malaysia. Nonetheless, IFH implementation was challenged with high cost to maintain Halal certification, capacity management and international chain hotel status issues. Hotels intend to implement IFH should pay careful attention to the initial consequences such as decreasing non-Muslim customers thus resulting in decrease income at the early stage of introduction. This study has contributed on the development of IFH literature specifically Malaysia by providing popular and unpopular attributes of IFH in Malaysia. Therefore, if Malaysian hotels are to succeed and achieve competitive advantage, being able to address growing Muslim tourists’ needs are essential priorities.

of services and rapid development of technology (particularly information and communication technology) puts pressure ... based on three perspectives: entrepreneurship and innovation, technology-push/demand pull and innovation systems.

Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control

Planning, Implementation, and Control

In today’s increasingly connected business world, there is new pressure for local brands to go global, and a need for already global corporations to cater to new audiences that were previously ignored. Islamic Perspectives on Marketing and Consumer Behavior: Planning, Implementation, and Control brings together the best practices for entry and expansion of global brands into Islamic countries. This book is an essential reference source for professionals looking to incorporate the laws and practices of Islam into the global presence of their company and presents a cutting edge look at worldwide retail for marketing researchers and academics.

This book is an essential reference source for professionals looking to incorporate the laws and practices of Islam into the global presence of their company and presents a cutting edge look at worldwide retail for marketing researchers and ...

Islamic Social Finance

Entrepreneurship, Cooperation and the Sharing Economy

The current dynamics of world economy show remarkable changes in the socio-economics of credit provision and entrepreneurship. If the emergence of the sharing economy is fostering innovative models of collaborative agency, networking and venture business, economic actors are also looking for a more sustainable development, able to foster profitability as well as community welfare. This book investigates Islamic social finance as a paramount example of this economy under change, where the balance between economic efficiency and social impact is contributing to the transformation of the market from an exchange- to a community-oriented institution. The collected essays analyse the social dimension of entrepreneurship from an Islamic perspective, highlighting the extent to which the rationales of "sharing," distribution and cooperation, affect the conceptualization of the market in Islam as a place of "shared prosperity." Moving from the conceptual "roots" of this paradigm to its operative "branches," the contributing authors also connect the most recent trends in the financial market to Shari‘ah-based strategies for community welfare, hence exploring the applications of Islamic social finance from the sharing economy, FinTech and crowdfunding to microcredit, waqf, zakat, sukuk and green investments. An illuminating reference for researchers, practitioners and policy-makers dealing with the challenges of a global market where not only is diversity being perceived as a value to be fostered, but also as an important opportunity for a more inclusive economy for everybody.

This book investigates Islamic social finance as a paramount example of this economy under change, where the balance between economic efficiency and social impact is contributing to the transformation of the market from an exchange- to a ...