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Risk and Regulation of Islamic Banking

The expert contributors examine why an ethical foundation is important and why the system requires well-thought-out regulations to ensure outcomes that protect the community�s well-being. The volume explores in detail the nature of Islamic banking prod

Following an initial volume, The Foundations ofIslamic Banking. Theory, Practice
and Education, 2011, the first volume in the series dealt with a specialized area,
namely The Islamic Debt Marketfor Sukuk Securities (2012). The present book is
 ...

Islamic Banking in Indonesia

New Perspectives on Monetary and Financial Issues

A comprehensive overview of key developments in Islamic banking In Islamic Banking in Indonesia, renowned economist Dr. Rifki Ismal explores current issues in Islamic banking and financial products with a particular focus on the danger of liquidity risk in Indonesia. It approaches liquidity risk from the conventional perspective of international banking standards, as well as from the Islamic banking perspective. Dr. Ismal also covers the issues of asset-liability balancing, liquidity risk index, organizational structures for managing liquidity, industrial analysis, withdrawal risk, bankruptcy risk, moral hazard risk, and market risk. Compiling all the latest academic research on liquidity risk and other risks in Islamic banking, the book provides a theoretical foundation for managing risk that will is highly useful for researchers on Islamic banking and practitioners and academics. Written by a renowned expert on Islamic banking who works on monetary policy at the central bank of Indonesia Covers the latest developments in Islamic banking, particularly liquidity risk, for a rapidly expanding market Ideal for European and American readers, in addition to Asian readers, who need a fuller understanding of Islamic banking institutions, markets, and products With the latest academic research and the expertise of a leading practitioner in Islamic banking, this book offers in-depth coverage of the most pressing issues in the field.

This is because funds utilized in Musharakah financing is a combination of funds
from the Qardh hassan Central Bank certificate and from the government (
entrepreneur) funds. However, the use of the Qardh hassan funds should
consider the ...

The Legal and Regulatory Aspects of Islamic Banking

A Comparative Look at the United Kingdom and Malaysia

During the last ten years the Islamic banking sector has grown rapidly, at an international level, as well as in individual jurisdictions including the UK. Islamic finance differs quite substantially from conventional banking, using very different mechanisms, and operating according to a different theory as it is based on Islamic law. Yet at the same time it is always subject to the law of the particular financial market in which it operates. This book takes a much-needed and comprehensive look at the legal and regulatory aspects which affect Islamic finance law, and examines the current UK and international banking regulatory frameworks which impact on this sector. The book examines the historical genesis of Islamic banking, looking at how it has developed in Muslim countries before going on to consider the development of Islamic banking in the UK and the legal position of Islamic banks within English law. The book explores company, contract, and some elements of tax law and traces the impact it has had on the development of Islamic banking in the UK, before going on to argue that the current legal and regulatory framework which affects the Islamic banking sector has on certain occasions had an unintended adverse impact on Islamic banking in the UK. The book also provides an overview of the Malaysian experience in relation to some of the main legal and regulatory challenges in the context of Islamic banking and finance.

6.1 Introduction The business of banking is a complex legal topic. As discussed
earlier, banking transactions, similarly to any commercial operation, can be ruled
by certain laws such as contract law, credit law, tax law and others. Additionally ...

Islamic Banking and Finance

Islamic finance is founded on principles that constitute the guidelines governing any Islamic economic or financial dealings. Innovative financial engineering today constitutes one of the most critical needs of Islamic financial institutions. It represents the forces that will drive Islamic finance toward continuous growth and efficiency. The structuring of new financing and Shariah-complaint instruments plays an important role in the enhancement of Islamic financial markets, and Islamic risk management practices, combining basic Shariah-complaint financial instruments within Shariah structures to precise identified needs. The financial engineering process in Islamic finance is a process that is very sensitive and complex. It requires multidisciplinary considerations, involving deep knowledge of finance, economy, Shariah law and commercial law. Divergence of opinions among different Shariah scholars and boards, as well as the absence or lack of effectiveness of a central regulatory body, is perceived as an obstacle to the growth of investment confidence in Islamic finance. Hence, innovation, along with greater uniformity, is essential to make Islamic finance an international financial system and to attract a greater number of customers. This book addresses the main issues of concern within Islamic banking, namely the development of conceptual framework, the viability of interest-free banking, and the assessment of its performance and future. In a world where conventional interest-based finance is the dominant framework, Islamic banking faces many challenges that must be addressed. This book discusses these issues and challenges and will be of great interest to both researchers and practitioners. It analyses the past experiences of Islamic banks worldwide, and provides an objective assessment of their successes and failures.

Introduction The Islamic banking industry of Sudan is the backbone of Sudanese
economy. It emerged in 1977 with the establishment of the Faisal Islamic Bank. In
1981, both the Islamic Bank of West Sudan and the Tadamon Islamic Bank set ...

Islamic Banking Regulation and Supervision: Survey Results and Challenges

The growing presence of Islamic banking needs to be accompanied by the development of effective regulation and supervision. This paper examines the results of the survey conducted by the International Monetary Fund to document international experiences and country practices related to legal and prudential frameworks governing Islamic banking activities. Although a number of countries have made considerable progress in creating legal, regulatory, and supervisory frameworks that accommodate Islamic banking, there are substantial differences. This paper also identifies a number of challenges faced by regulatory and supervisory agencies regarding Islamic banking.

A. Accommodation of Islamic Banking There are various ways in which
jurisdictions incorporate Islamic banking into their regulatory framework. A first
approach is where the Basel Committee on Banking Supervision (BCBS)
framework for ...

Islamic Banking

Issues in Prudential Regulations and Supervision

This paper analyzes the implications of Islamic precepts on banks’ structure and activities, focusing on banking supervision issues. It points out and discusses these issues in the context of a paradigm version of Islamic banking, as well as in frameworks that fall between the paradigm version and conventional banking. The case of Islamic banks operating in a conventional system is also examined.

Contrary to conventional banks, Islamic banks cannot obtain funds through LOLR
facilities, including Lombard and discount windows, as well as overdraft or other
credit facilities operated by the central bank. This is due to the fact that all of the ...

Case Studies in Islamic Banking and Finance

The first case study based guide to Islamic banking and finance. Based around 13 individual cases, the book stimulates discussion and develops the reader?s understanding of Islamic finance by contrasting the existing theoretical knowledge against practical examples. Each chapter concludes with a set of questions designed to test the readers understanding of each case, with suggested solutions at the end of the book.

Based around 13 individual cases, the book will stimulate discussion and develop the reader's understanding of Islamic finance by contrasting their existing theoretical knowledge against practical examples.

Islamic Banking and Finance in South-East Asia

Its Development & Future

Islamic Banking and Finance in South-East Asia by Angelo M Venardos has been a OC must readOCO since its first edition in 2005 and has already been translated to Arabic. Now in its 3rd edition, the book offers important updates you can look forward to, starting with the foundations of Islamic banking, developments and issues. The reader is then treated to a timely survey of Islamic banking in five South-east Asian countries. Most of these chapters have been completely revamped from the last edition. One additional chapter has been added on Islamic Succession Planning, which introduces an increasingly essential aspect of Muslim life OCo that of managing one''s wealth now and in the afterlife. Whether you are new to the topic or a practitioner in the industry, you will appreciate the accessible way in which the book is written. According to the Asian Journal of Comparative Law, the book gives a broad overview yet OC manages to achieve this in a rather slim volume while providing depth of analysis at the same timeOCO."

Now in its 3rd edition, the book offers important updates you can look forward to, starting with the foundations of Islamic banking, developments and issues.

Islamic Banking

This study was prepared by Zubair Iqbal of the Middle Eastern Department and Abbas Mirakhor of the Research Department. To collect information and views for the study, the authors held discussions with the authorities and representatives of commercial banks in the Islamic Republic of Iran and in Pakistan.

Interest-free banks have also been operating in several non—Muslim countries.
The experiences of the Islamic Republic of Iran and of Pakistan—tw0 countries
that have recently attempted to implement Islamic banking on a comprehensive ...