Islamic Financial Instruments for Public Sector Resource Mobilization
Author : Auṣāf Aḥmad
Publisher :
Page : 414 pages
File Size : 24,67 MB
Release : 1997
Category : Banks and banking
ISBN : 9789960320144
The Use of Assets Ijara Bonds for Bridging the Budget Gap
Author : Monzer Kahf
Publisher :
Page : 18 pages
File Size : 41,37 MB
Release : 2018
Category :
ISBN :
Book Description
A shari'ah compatible fixed-return financial instrument is needed in an Islamic economy. This paper explores the potential of ijara (renting)-based financial instruments to meet this need. The paper proposes ijara-bonds as marketable Islamic financial instruments for resource mobilization in the public sector as well as an instrument for monetary policy. Private companies can equally use the ijarabonds for resource mobilization. This paper aims at presenting the idea of assets ijara bonds (AIBs) and how such bonds can be used by governments as an alternative means of borrowing funds from the public. The paper consists of four sections. Section one deals with the assumptions under which the AIBs shall be discussed. Section two will analyze the ijara contract and discuss the shari'ah foundation of the AIBs. The third section defines AIBs and studies their different forms. Finally, section four will discuss the characteristics and economics of AIBs and compare them with other securities.
The Design of Instruments for Government Finance in an Islamic Economy
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 19 pages
File Size : 30,45 MB
Release : 1998-04-01
Category : Business & Economics
ISBN : 1451847483
Book Description
This paper presents perhaps the most viable approach for the design of an instrument of government finance (and monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of return are forbidden. Resources to finance government infrastructural and development projects can be mobilized by issuing a national participation paper and this instrument can also serve as an instrument of monetary management. The paper discusses various conceptional issues underpinning the introduction of such an instrument and methods of calculating a corresponding rate of return. In principle, this approach has been accepted by the Islamic Republic of Iran.
Public Sector Resource Mobilization in Islam
Author : Mahamoud A. Gulaid
Publisher :
Page : 35 pages
File Size : 33,42 MB
Release : 2018
Category :
ISBN :
Book Description
There is considerable debate on the role of state in contemporary Islamic economics. On the one hand, there is a need for a concise and precise definition of important fiscal instruments in public policy. On the other hand, there are substantive gaps and a dearth of literature on resource mobilization in the Islamic perspective especially as regards non-tax sources. Compared to writings on allocation, distribution and stabilization, relatively little research work has been conducted in this area. This exercise is meant, in part, to bridge this gap.
Handbook of Islamic Banking
Author : Kabir Hassan
Publisher : Edward Elgar Publishing
Page : 472 pages
File Size : 27,71 MB
Release : 2009-01-01
Category : Business & Economics
ISBN : 9781847205414
Book Description
The Handbook of Islamic Banking comprises 25 studies by leading international experts on Islamic banking and finance specially commissioned to analyse the various debates and the current state of play in the field. From its origins thirty years ago, Islamic banking has expanded rapidly to become a distinctive and fast growing segment of the international banking and capital markets. Despite this expansion, Islamic banking still remains poorly understood in many parts of the Muslim world and continues to be a mystery in much of the West. This comprehensive Handbook provides a succinct analysis of the workings of Islamic banking and finance, accessible to a wide range of readers. At the same time, it seeks to bring the current research agenda and the main issues on Islamic banking before a wider audience. Islamic banking offers, as an alternative to conventional interest-based financing methods, a wide variety of financial instruments and investment vehicles based on profit-and-loss sharing arrangements. These are all explored in detail along with other subjects such as governance and risk management, securities and investment, structured financing, accounting and regulation, economic development and globalization. M. Kabir Hassan, Mervyn Lewis and the other contributors have created an authoritative and original reference work, which will contribute to a wider understanding of Islamic banking as well as provoking further discussion and research. It will be invaluable to all scholars, researchers and policymakers with an interest in this subject.
Interest-free Alternatives for External Resource Mobilization
Author : Tariqullah Khan
Publisher :
Page : 104 pages
File Size : 37,76 MB
Release : 1997
Category : Debt financing
ISBN :
Book Description
Sustainable Development and Infrastructure
Author : Amadou Thierno Diallo
Publisher : Springer Nature
Page : 229 pages
File Size : 29,71 MB
Release : 2021-02-08
Category : Business & Economics
ISBN : 3030670945
Book Description
Most books on Islamic finance and development issues are written from an academic perspective. Although academic reflection is key for future direction, dissatisfaction with previous development efforts, as evidenced by their lack of sustainability, suggests the need for a different type of review. Development work is complex and requires a detailed and transparent approach in order to ensure a cogent resolution for potential long-term issues. Each intervention area requires specific elaboration for meaningful impact. The perfect solution for one sector might be detrimental for another. Islamic finance, with its strict Riba restrictions, rules, and other checks and balances, is a good fit for infrastructure development in pursuit of sustainable development. When it comes to sustainable development, this book argues, Islamic finance has the tools to intervene for maximum impact. However, the issue of sustainability is not only related to Islamic finance; more policy discourse is needed. This requires guidance from the principles of Islamic economics, as well. This book discusses infrastructure development vis-à-vis sustainable development, drawn from decades of real-life development banking experience, and proposes impactful intervention methods based on wisdom from Islamic economics and finance.
An Overview of Islamic Finance
Author : Mr.Mumtaz Hussain
Publisher : International Monetary Fund
Page : 35 pages
File Size : 37,48 MB
Release : 2015-06-02
Category : Business & Economics
ISBN : 1513565621
Book Description
Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.
Introduction to Islamic Banking and Finance
Author : Brian Kettell
Publisher : John Wiley & Sons
Page : 193 pages
File Size : 24,42 MB
Release : 2011-08-15
Category : Business & Economics
ISBN : 047097804X
Book Description
Introduction to Islamic Banking and Finance is a succinct guide to the key characteristics of Islamic banking highlighting how these differ from conventional banking. This detailed book illustrates how Islamic banking is consistent with the Sharia'a, a key element of which is the prohibition on collecting and paying interest. This central religious precept appears to rule out most aspects of modern finance but it does allow money to be used for trading tangible assets and business, which can then generate a profit. Brian Kettell's book looks at all aspects of Islamic banking, including chapters on its creation and evolution through to detailed discussions of the issues involved in the Sharia'a contracts of Murabaha, Mudaraba, Musharaka, Ijara, Istisna'a, and Salam. Islamic insurance (Takaful) is also covered. Finally the book takes a look at Sharia'a law and Sharia'a boards, indicating the roles and responsibilities that come with membership. Islamic banks have been operating in places such as Bahrain, Saudi Arabia, Malaysia and Dubai for some time. Conventional bankers have traditionally viewed the sector as a small, exotic niche but recent years have seen a dramatic surge in popularity. A number of Western investment banks have started working with Muslim clerics to create new ranges of financial products designed for devout Muslims, a large and growing market. Although estimates of the size of the Islamic finance industry vary greatly, everyone agrees that it is expanding rapidly and this is the perfect book for anyone looking to understand the industry.
The Islamic Banking and Finance Workbook
Author : Brian Kettell
Publisher : John Wiley & Sons
Page : 153 pages
File Size : 41,87 MB
Release : 2011-08-15
Category : Business & Economics
ISBN : 0470978058
Book Description
The ongoing turbulence in the global financial markets has drawn attention to an alternative system of financial intermediation: Islamic banking and finance. This is now one of the fastest growing sectors within the market place and has, so far, remained on the sidelines of this unrest. Since the inception of Islamic banking thirty years ago the number and reach of Islamic financial institutions worldwide has risen significantly. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries, and market participants everywhere are joining the race to study and be a part of this emerging financial system. The Islamic Banking and Finance Workbook is a one-of-a-kind workbook on the topic, enabling readers to test their understanding of Islamic banking and finance concepts. Although suitable as a standalone learning tool, the book is designed to test the information covered in the companion book, Introduction to Islamic Finance and Banking, and covers the fundamentals of Sharia'a law, the Islamic contracts interpretations and definitions, Murabaha, Mudaraba, Musharaka, Istisna'a, Salam and Ijara modes of finance, Takaful and much more. Emphasis is placed on mini case studies, multiple choice questions and tests of the basic concepts. It also includes a full answer key and brief chapter summaries, as well as learning objectives. The Islamic Banking and Finance Workbook is an essential learning tool for students and practitioners who want to test their knowledge of the rapidly growing world of Islamic banking and finance.
