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Valuing Banks

A New Corporate Finance Approach

This book aims to overcome the limitations the variations in bank-specifics impose by providing a bank-specific valuation theoretical framework and a new asset-side model. The book includes also a constructive comparison of equity and asset side methods. The authors present a novel framework entitled, the “Asset Mark-down Model”. This method incorporates an Adjusted Present Value model, which allows practitioners to identify the main value creation sources of a particular bank: from asset-based cash flow and the mark-down on deposits, to tax benefits on bearing liabilities. Through the implementation of this framework, the authors offer a more accurate and more specific approach to valuing banks.

This book aims to overcome the limitations the variations in bank-specifics impose by providing a bank-specific valuation theoretical framework and a new asset-side model.

Bank Profitability

Financial Statements of Banks

Trends in bank profitability are major indicators of changes in the state of health of national banking systems. This publication contains statistics, based on financial statements of banks, for all OECD member countries.

Trends in bank profitability are major indicators of changes in the state of health of national banking systems. This publication contains statistics, based on financial statements of banks, for all OECD member countries.

Macroprudential Regulation and Policy for the Islamic Financial Industry

Theory and Applications

This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary regulation. Macroprudential policy is increasingly seen as a way of dealing with the different dimensions of systemic risk. But many central banks, bank supervisors and regulators have limited experience with macroprudential tools, particularly in the Islamic financial industry. Given the complementarities between monetary policy and financial stability, it appears that central banks would always play an important role in macroprudential policy. But how should macroprudential policy best interact with monetary policy? It is becoming more pressing for the central banks to conduct monetary policy in which its conventional banking system operates side by side with Islamic banking system. This question has received increasing attention in the research literature but there is much we still need to learn. This is why new insights from research on macroprudential policy – which has gained important impetus in recent years – are so valuable. Featuring contributions on topics such as macroprudential regulation, policy, tools and instruments; governance, systematic risk, monetary policy, and bank leverage, the editors provide a collection of comprehensive research covering the most important issues on macroprudential policy and regulation for the Islamic financial industry. This volume is expected to be a significant contribution to the literature in the field of Islamic finance and evaluation of public policies to promote the development for Islamic financial industry. It is also served as a key text for students, academics, researchers, policy-makers in the field of Islamic finance.

This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry.

Legal Ethics for Lawyers

A New Model

This book proposes a new model of professional ethics enabling lawyers to advise clients upon both the law and ethics. This will better protect clients, and society, and enhance lawyers’ professional obligations. The current model of legal ethics, developed in the 19th century, specified that the role of lawyers was only to interpret the law, not also to give ethical advice. This was acceptable to lawyers, clients, and society at that time. However, this is not the case now and legal ethics no longer reflects the needs of modern legal practice. This book draws on moral philosophy to present a new model of legal ethics that explains the analytical process to include ethical advice. It analyses the potential harm of the present model to the legal profession who have duties to the law and justice that may compete with demands by clients to serve them. Further, lawyers’ duty to clients to act in their best interests is sometimes not adequately fulfilled as legal ethics does not permit lawyers to give ethical advice even if it may be in clients’ best interests to do so. The work includes a detailed case study of corporate law practice to show why a new legal ethics is required. Other case examples are provided to demonstrate that lawyers practicing in all areas of law encounter ethical issues and they too will benefit from a new legal ethics. The book will be essential reading for students, academics, lawyers and professional bodies.

This book proposes a new model of professional ethics enabling lawyers to advise clients upon both the law and ethics.

Legal Ethics, Professional Responsibility, and the Legal Profession

"As the legal profession undergoes structural changes, longstanding principles of ethics still govern the day-to-day lives of practicing lawyers. This new Hornbook on professional responsibility provides both a snapshot of ongoing systemic changes and a thorough examination of the fundamentals of lawyer and judicial ethics. As a multi-dimensional work by scholarly experts in several fields, the Hornbook (1) begins with the changing environment in which legal services are provided in the modern economy; (2) continues with a theoretical grounding of legal ethics in moral philosophy; (3) offers empirical evidence and discussion about professional formation and moral development; (4) provides a comprehensive analysis of the law of lawyer ethics; (5) includes a rich discussion of the modern law of legal malpractice, and (6) concludes with exploration of the rules of judicial ethics."--Publisher website.

As the legal profession undergoes structural changes, longstanding principles of ethics still govern the day-to-day lives of practicing lawyers.

The Political Economy of Wasta

Use and Abuse of Social Capital Networking

The term "wasta " stems from the Arabic root for middle or medium' and describes the phenomenon of using connections to find job, government services or other favors to circumvent bureaucracy or bypass the system as a whole. The effects of "wasta " may be both positive or negative, and is not a phenomenon that is particular to the Arab or Muslim world, but also to many other cultures and regions of the world, with similar concepts popularly known as "ubuntu, guanxi, harambee, naoberschop, "or" old boy network " used in African, Chinese and European societies. By its very nature "wasta " is an area of grey or even black information, and, like corruption to which it is most often associated, is hard to assess although country corruption perception indexes attempt to provide a quantifiable basis. In the final analysis such ratings are based on "perceptions" of corruption, and this perception may vary strongly depending on different societal structures and cultural modes, whether these are extended family systems, tribal, clans or more atomized societies where relationships are essentially transactional and rule based. Ina western perspective where wasta may be considered as a form of corruption, in other societies it may be perceived as something natural and not criminal, and using one's'wasta ' in tribal societies to help clan members is seen as a duty. The difference stems from the 'innocent ' use of "'wasta' "to make introductions, as opposed to its abuse in placing unqualified persons in positions .The volume brings together academics and professional experts to examine a range of multi-faceted social, economic and political issues raised by the use and abuse of social networking, covering various topics like: "" wasta "interpersonal connections in family and business ties, ""The relationship between inequality-adjusted human development and corruption perception indexes in the Gulf region, """ wasta "and business networking, assessing the economic cost of wasta, "" wasta and its impact on quality oriented education reform and the perceptions of young people, ""The use of wasta to overcome socio-cultural barriers for women and men" The volume also offers insights into social relations and ethics, and how the use of "wasta " contradicts with common held religious principles, along with some country studies on Islamic principles and the use of" wasta ." Mohamed Ramady is a Visiting Associate Professor, King Fahd University of Petroleum and Minerals, Saudi Arabia. "

In the final analysis such ratings are based on perceptions of corruption, and this perception may vary strongly depending on different societal structures and cultural modes, whether these are extended family systems, tribal, clans or more ...

The Political Economy of Muslim Countries

The book looks in detail at the economic conditions of Muslim countries specifically, offering a thorough political analysis at the same time. It focuses on a broad range of economic factors and takes into consideration reports such as the World Development Index. It explores striking differences and similarities among carefully chosen Muslim countries. Mainly because of its broad use of different disciplines, it will be of interest to students of political science, economics and history.

The book looks in detail at the economic conditions of Muslim countries specifically, offering a thorough political analysis at the same time.

Origins of the European Economy

Communications and Commerce AD 300-900

For fifty years debate has raged about early European commerce during the period between antiquity and the middle ages. Was there trade? If so, in what - and with whom? New evidence and new ways of looking at old evidence are now breaking the stalemate. Analysis of communications - the movements of people, ideas and things - is transforming our vision of Europe and the Mediterranean in the age of Charlemagne and Harun al Rashid. This is the first comprehensive analysis of the economic transition during this period for over sixty years. Using new materials and new methodology, it will attract all social and economic historians of antiquity and the middle ages, and anyone concerned with the origins of Europe, the history of the slave trade, medicine and disease, cross-cultural contacts, and the Muslim and Byzantine worlds.

This is the first comprehensive analysis of the economic transition during this period for over sixty years.

Political Economy, Values and Innovation

Such approaches have provided stability, which in turn has brought unprecedented growth to the sector._x000B__x000B_The studies in this volume focus on examples in the GCC countries to provide empirical analysis of the risk aspects of ...

Muslim Piety as Economy

Markets, Meaning and Morality in Southeast Asia

The first volume to explore Muslim piety as a form of economy, this book examines specific forms of production, trade, regulation, consumption, entrepreneurship and science that condition – and are themselves conditioned by – Islamic values, logics and politics. With a focus on Southeast Asia as a site of significant and diverse integration of Islam and the economy – as well as the incompatibilities that can occur between the two – it reveals the production of a Muslim piety as an economy in its own right. Interdisciplinary in nature and based on in-depth empirical studies, the book considers issues such as the Qur’anic prohibition of corruption and anti-corruption reforms; the emergence of the Islamic economy under colonialism; ‘halal’ or ‘lawful’ production, trade, regulation and consumption; modesty in Islamic fashion marketing communications; and financialisation, consumerism and housing. As such, it will appeal to scholars of sociology, anthropology and religious studies with interests in Islam and Southeast Asia.

The first volume to explore Muslim piety as a form of economy, this book examines specific forms of production, trade, regulation, consumption, entrepreneurship and science that condition – and are themselves conditioned by – Islamic ...