Continuous growth in Islamic finance calls for an in-depth study of the framework in which the monetary policy maker (i.e., the central bank) performs its functions. Central banks in Muslim countries are using various instruments for monetary policy purpose including interest rate. As a result, Islamic Financial Institutions (IFIs) are facing issues in benchmarking the price of financial instruments. Acceptable solution to benchmarking lies in the presence of a real economic activity in the base of any proposal and its feasibility for business performance when put against conventional banking. This paper presents empirical evidence of statistical equivalence of nominal GDP growth rate and official interest rate for 'advanced,' 'all,' and some Muslim countries. We propose nominal GDP growth rate as benchmark for pricing domestic financial transactions of IFIs as well as for pricing external bilateral/multilateral loans. The paper also suggests nominal income targeting as monetary policy regime and provides a liquidity management mechanism for banking system in Islamic financial environment.
Continuous growth in Islamic finance calls for an in-depth study of the framework in which the monetary policy maker (i.e., the central bank) performs its functions.
This book is the result of a decade teaching of Islamic finance course to business graduates (Bachelor and Master classes). This book is written with a clear focus on learning of Islamic banking & finance by accounting, banking, business and finance students/professionals. This book is divided into five parts. Part-1 presents an update on Islamic finance, why and how Islamic banking started; What is current status; Meaning and prohibition of Riba (Interest & Usury) as reported in revealed books (Bible and Qur'an); business models under Islamic financial services industry; principles of Islamic financial system, similarities and differences with conventional finance industry, and challenges being faced by the nascent industry.Part two is about asset-backed financing provided by IFIs. It includes trading (selling) modes of financing including Murabaha (ch.2), Salam, and Istisna'a; it also includes rental-based financing product-Ijarah financing. Chapter 2,3,4,5 include sales and rental-based financing. Part three of the book deals with profit and loss sharing modes of financing including Musharakah, diminishing Musharakah and Mudarabah. A special section is devoted to discussing the causes of lesser application of Musharakah in operations of IFIs, in addition to Shari'ah rulings and financial impact. Chapter seven is about Diminishing Musharakah; a form of gradually declining partnership between an IFI and clients; generally used to finance real estates. Under diminishing Musharakah, the basic Shari'ah rulings, Islamic house financing, comparative study of conventional and Islamic mortgages and installment calculation under different assumptions for house financing are presented. Chapter eight is about Mudarabah. Chapter nine presents various types of deposits collected by IFIs and profit-sharing mechanism. Concepts of daily product and weight-age based profit systems are elaborated.Part four of the book presents special topics in Islamic Finance. In this part areas of liquidity management, Islamic insurance, currency system, substance & form, and challenges to Islamic finance industry are elaborated. Under Islamic capital market (liquidity management) two dedicated chapters have been included; each for equities and sukuk. Chapter 12 elaborates briefly the concept of Islamic insurance covering multiple areas including Shari'ah guidelines, takaful (insurance) models, and role of insurance company, in addition to illustrative financial calculations. Chapter-13 addresses the issue of preference for 'legal form over economic substance' by critically evaluating the selected Islamic finance contracts Last chapter identifies the challenges [potentially hurdles in sustainability, growth and expansion of the industry]. The fifth edition is the outcome of encouraging response by the academic community to earlier editions. In this edition, due attention has been given to present material in a reader-friendly mode in addition to a thorough review of content, exercises and figures. Title of the book changed by adding prefix of 'fundamentals' to reflect the nature of work (as text book). In this edition, the chapter on Islamic finance: an update is revised thoroughly; and by insertion of specific contents including principles and business models of Islamic financial system, in addition to brief presentation of challenges. Besides, Islamic capital market is re-written by including an evaluation of methodologies used in creation of Shari'ah universes of stocks. Also, a new chapter included to present the application of 'form over substance' principle to industry practices. Updated figures on the global volume of assets, application of financial products; regional shares, etc. are also part of this edition. Also, more examples included in the text to make the concept clear. An increased number of multiple-choice questions and mini cases are also forming part ofthe updated edition. I welcome readers' Feedback.
This book is written with a clear focus on learning of Islamic banking & finance by accounting, banking, business and finance students/professionals. This book is divided into five parts.
Diploma Thesis from the year 2004 in the subject Business economics - Investment and Finance, grade: 1,4, Stralsund University of Applied Sciences, 170 entries in the bibliography, language: English, abstract: The author has divided the thesis in four parts. The first chapter, "Chapter A - Islam - History, Cultural Aspects, and Principles for the Financial System", introduces Islam, its roots and foundation about 1,400 years ago. In that chapter basic Islamic principles are explained and their relevance in all aspects of Muslim life is shown. With those principles underlying, a financial system developed which is different from the Western one. The development of the financial system is described as are various Islamic financial tools explained. In "Chapter B - Muslims in Germany" it is shown how the Muslim community in Germany developed. It is explained when processes of migration started and to what extent they developed. The cultural and educational "Status Quo" of the Muslim community is analysed, and it is looked at their stand concerning school, work, associations, etc. Thereby Islamically cultural distinctions are outlined and resulting obstacles for integration deduced. Following that, the financial "Status Quo" is looked at. Facts about Muslim savings are provided and examples of instruments available at the German market, which are in compliance with Islamic law, are described. Out of the outlined facts in the "Status Quos" a potential analyses is developed. Future scenarios about shifts in the population structure are calculated and thereby resulting changes at the labour market predicted. After the Muslim community and its financial situation is analysed, "Chapter C - Possibilities for Islamic Products in the German Market" describes legal requirements set by German authorities as does it look at Islamic prescriptions for the running of a financial institution. Proposals are given how to harmonise differences to create possibilities for a financial syste
Diploma Thesis from the year 2004 in the subject Business economics - Investment and Finance, grade: 1,4, Stralsund University of Applied Sciences, 170 entries in the bibliography, language: English, abstract: The author has divided the ...
Gain insight into the unique risk management challenges within the Islamic banking system Risk Management for Islamic Banks: Recent Developments from Asia and the Middle East analyzes risk management strategies in Islamic banking, presented from the perspectives of different banking institutions. Using comprehensive global case studies, the book details the risks involving various banking institutions in Indonesia, Malaysia, UAE, Bahrain, Pakistan, and Saudi Arabia, pointing out the different management strategies that arise as a result of Islamic banking practices. Readers gain insight into risk management as a comprehensive system, and a process of interlinked continuous cycles that integrate into every business activity within Islamic banks. The unique processes inherent in Islamic banking bring about complex risks not experienced by traditional banks. From Shariah compliance, to equity participation contracts, to complicated sale contracts, Islamic banks face unique market risks. Risk Management for Islamic Banks covers the creation of an appropriate risk management environment, as well as a stage-based implementation strategy that includes risk identification, measurement, mitigation, monitoring, controlling, and reporting. The book begins with a discussion of the philosophy of risk management, then delves deeper into the issue with topics like: Risk management as an integrated system The history, framework, and process of risk management in Islamic banking Financing, operational, investment, and market risk Shariah compliance and associated risk The book also discusses the future potential and challenges of Islamic banking, and outlines the risk management pathway. As an examination of the wisdom, knowledge, and ideal practice of Islamic banking, Risk Management for Islamic Banks contains valuable insights for those active in the Islamic market.
The efforts by four budding scholars to write on this topic are indeed laudable. This book discusses risk management for Islamic banks in a comprehensive manner and yet makes it easy for readers to understand.
Kehadiran Buku Perilaku Organisasi ini disusun oleh para akademisi dan praktisi dalam bentuk buku kolaborasi. Walaupun masih jauh dari kesempurnaan, tetapi kami mengharapkan buku ini dapat menjadi referensi atau bahan bacaan dalam menambah khasanah keilmuan khususnya mengenai ilmu perilaku organisasi. Sistematika penulisan buku ini diuraikan dalam tiga belas bab yang memuat tentang Konsep Dasar Perilaku Organisasi, Teori Organisasi, Sistem Organisasi, Kepemimpinan, Motivasi, Komunikasi, Politik dalam Organisasi, Pengambilan Keputusan, Manajemen Konflik, Manajemen Stress, Nilai, Sikap dan Kepuasan Kerja, Perilaku Individu & Kelompok, serta bab terakhir yaitu mengenai Pengembangan Organisasi.
Kehadiran Buku Perilaku Organisasi ini disusun oleh para akademisi dan praktisi dalam bentuk buku kolaborasi.
Prilaku Organisasi adalah salah satu mata kuliah wajib yang harus ditempuh oleh mahasiswa manajemen, karena dapat memberikan pengetahuan dasar tentang prilaku individu dan organisasi. Oleh karena itu mata kuliah ini sangat penting dikuasai oleh mahasiswa manajemen, karena dapat membantu mahasiswa nantinya dalam pengelolaan sumber daya utamanya sumber daya manusia. Buku ajar ini disusun bagi mahasiswa program studi Manajemen dengan tujuan untuk memudahkan pemahaman dalam perkuliahan, walaupun tidak menutup kemungkinan dipergunakan juga oleh para alumni atau pihak lain yang berkepentingan dengan masalah prilaku dalam organisasi. Buku ajar ini berisi pengertian dan ruang lingkup masalah dalam prilaku organisasi.
Prilaku Organisasi adalah salah satu mata kuliah wajib yang harus ditempuh oleh mahasiswa manajemen, karena dapat memberikan pengetahuan dasar tentang prilaku individu dan organisasi.
Pembahasan dalam buku ini diuraikan dalam dua belas bab yang terdiri dari sejarah perilaku organisasi, dasar-dasar perilaku individu dan kepribadian, perilaku kelompok dalam organisasi, perubahan paradigma organisasi, emosi-sikap-perilaku dalam pekerjaan, kreativitas dan inovasi karyawan, persepsi dan unsur-unsur komunikasi, sikap dan kepuasan kerja, strategi efektif mengelola konflik, teori motivasi, dan efektivitas sistem reward.
Pembahasan dalam buku ini diuraikan dalam dua belas bab yang terdiri dari sejarah perilaku organisasi, dasar-dasar perilaku individu dan kepribadian, perilaku kelompok dalam organisasi, perubahan paradigma organisasi, emosi-sikap-perilaku ...
Pada dasarnya, perilaku organisasi merupakan suatu bidang studi yang di dalamnya mempelajari tentang bagaimana seseorang ataupun individu bisa bergerak dan berperilaku sesuai dengan organisasi, Termasuk di dalamnya mempelajari bagaimana mereka bisa berinteraksi satu sama lainnya dan bagaimana mereka bisa bekerja dalam suatu struktur organisasi untuk bisa menyelesaikan pekerjaan dan juga interaksi tersebut dengan lingkungan yang berada di luar organisasi. Salah satu tujuan utama dilakukannya studi perilaku organisasi diantaranya agar bisa merevitalisasi teori organisasi dan juga mengembangkan konseptualisasi kehidupan organisasi yang lebih baik. Sebagai bidang daripada multidisiplin, perilaku organisasi ini sudah dipengaruhi dengan perkembangan pada sejumlah disiplin ilmu, termasuk di dalamnya psikologi, sosiologi, ekonomi, teknik dan juga pengalaman dari para praktisi itu sendiri. Studi tentang perilaku organisasi ini memiliki peranan yang penting untuk dipahami, memprediksi, serta mengandalkan perilaku setiap SDM dalam suatu organisasi, sehingga organisasi tersebut bisa berjalan secara efektif. Berdasarkan hal tersebut maka, buku ini menyajikan segala yang dibutuhkan oleh para pengelola perusahaan dalam menjalankan roda perputaran perusahaan agar dapat menciptakan kualitas dan kuantitas perusahaan yang baik. Oleh sebab itu buku ini hadir kehadapan sidang pembaca sebagai bagian dari upaya diskusi sekaligus dalam rangka melengkapi khazanah keilmuan dibidang perilaku organisasi, sehingga buku ini sangat cocok untuk dijadikan bahan acuan bagi kalangan intelektual dilingkungan perguruan tinggi ataupun praktisi yang berkecimpung langsung dibidang perilaku organisasi.
... Organizational behavior in health care. Jones & Bartlett Learning. Champoux, J. E. (2020). Organizational behavior: Integrating individuals, groups, and organizations. Routledge. Furqon, C. (2015). Budaya Organisasi. Griffin, R. W. ...
Pada dasarnya, budaya organisasi merupakan pola dasar yang diterima oleh organisasi untuk bertindak dan memecahkan masalah, membentuk karyawan yang mampu beradaptasi dengan lingkungan dan mempersatukan anggota-anggota organisasi. Untuk itu harus diajarkan kepada anggota termasuk anggota yang baru sebagai suatu cara yang benar dalam mengkaji, berpikir dan merasakan masalah yang dihadapi. Budaya organisasi merupakan nilai yang memiliki karakteristik tertentu karena setiap organisasi memiliki perbedaan mendasar antara satu organisasi dengan organisasi lainnya. Oleh karena itu budaya organisasi tidak akan sama antara satu organisasi dengan organisasi lainnya. Perbedaan tersebut mengindikasikan bahwa budaya organisasi cenderung dibentuk oleh karakter manusia yang ada didalam organisasi, terutama dari orang-orang yang mendirikan organisasi dan selanjutnya berkembang sesuai dengan perubahan yang terjadi setiap saat dalam setiap organisasi. Senada dengan ini, komitmen organisasi juga penting sebagai suatu kondisi yang dirasakan oleh karyawan yang dapat menimbulkan perilaku positif yang kuat terhadap organisasi kerja yang dimilikinya. Beberapa karakteristik yang bisa digunakan sebagai pedoman telaah komitmen kerja, yaitu sdanya keyakinan yang kuat dan penerimaan tujuan serta nilai-nilai yang dimiliki organisasi kerja, terdapatnya keinginan untuk mempertahankan diri agar tetap dapat menjadi anggota organisasi tersebut, serta adanya kemauan untuk berusaha keras sebagai bagian dari organisasi kerja.
Senada dengan ini, komitmen organisasi juga penting sebagai suatu kondisi yang dirasakan oleh karyawan yang dapat menimbulkan perilaku positif yang kuat terhadap organisasi kerja yang dimilikinya.
