Islamic finance and economic development : risk, regulation, and corporate governance / AMR Mohamed El Tiby, Wafik Grais.

Format:

Book

Author/Creator:

El Tiby, AMR Mohamed, author.

Grais, Wafik, author.

Series:

Wiley finance series.

Wiley Finance Series

Language:

English

Subjects (All):

Banks and banking--Religious aspects--Islam.

Banks and banking.

Physical Description:

1 online resource (234 pages)

Edition:

1st edition

Place of Publication:

Hoboken, New Jersey : John Wiley & Sons, 2015.

Language Note:

English

System Details:

text file

Summary:

A comprehensive guide to mitigating risk and fostering growth in the Islamic financial sector Islamic finance, like conventional finance is a business of financial intermediation. Its distinctive features relate to the requirement that it abides by Shari'a rules that promote fairness of contracts and prevention of exploitation, sharing of risks and rewards, prohibition of interests, and tangible economic purpose. Islamic finance should not fund activities considered "haram" or sinful. In Islamic Finance and Economic Development: Risk, Regulation, and Corporate Governance</

Contents:

Islamic Finance and Economic Development; Contents; Preface; Acknowledgments; Acronyms; About the Authors; PART One Emergence of Modern Islamic Finance; CHAPTER 1 History and Core Principles of Islamic Finance; HISTORY REVIEW; CORE PRINCIPLES; APPENDIX 1A: STYLIZED BALANCE SHEET OF AN ISLAMIC BANK; APPENDIX 1B: GLOSSARY OF SELECTED ISLAMIC FINANCE TERMS; APPENDIX 1B (Continued ); APPENDIX 1B (Continued ); APPENDIX 1C: GLOSSARY OF ARABIC FINANCE TERMS; CHAPTER 2 Islamic Finance: Opportunity for Egypt's Development; MARKET LANDSCAPE: SIGNIFICANT BROAD-BASED PRESENCE

BEYOND BANKING: S UKUKS , FUNDS INSTITUTIONAL INFRASTRUCTURE; ISLAMIC FINANCE: OPPORTUNITY TO FINANCE EGYPT'S DEVELOPMENT; Household Finances; Financing Corporations and Projects; SME Financing; REGULATORY CHALLENGES; Inconsistencies between Conventional Regulation and Islamic Finance Principles; CONCLUSION; APPENDIX 2A: SIZE OF ISLAMIC FINANCE IN USD BILLIONS; APPENDIX 2B: LARGEST GCC ISLAMIC BANKS (USD MILLIONS); APPENDIX 2C: ISLAMIC FINANCE IN THE UNITED STATES; PART Two Managing Systemic Risks; CHAPTER 3 Risks, Spillovers, and Distress

FINANCIAL RISKS AND THEIR IMPACT ACROSS CONVENTIONAL AND ISLAMIC FINANCIAL INSTITUTIONS SPILLOVERS AND CONTAGION; CASES OF ISLAMIC BANK DISTRESS; THE CASE OF TURKEY'S SPECIAL FINANCE HOUSES; CHAPTER 4 Coping with Crises: Policies, Institutions, and Markets; PROVISION OF LIQUIDITY AND CRISIS CONTAINMENT; RECENT EXPERIENCE IN THE GCC COUNTRIES BUILDING PUBLIC CONFIDENCE; IMPACT OF MONETARY POLICY IN DUAL SYSTEMS; TOOLS FOR SYSTEMIC LIQUIDITY MANAGEMENT; SYSTEMIC LIQUIDITY MANAGEMENT: MALAYSIA'S EXPERIENCE; THE ROAD AHEAD: DEALING WITH SYSTEMIC LIQUIDITY IN ISLAMIC FINANCIAL SERVICES

DISTRESSED INSTITUTIONS RESOLUTION Experiences with Asset Management Corporations; Relevance of an Asset Management Corporation for Islamic Financial Services; CONCLUSION; APPENDIX 4A: TYPES OF INSTRUMENTS IN ISLAMIC INTERBANK MONEY MARKET OF MALAYSIA; PART Three Regulatory Challenges; CHAPTER 5 The Dilemma of Tailor-Made versus Mainstream Regulation; POLICY MAKER AND REGULATOR CHALLENGES; Managing Systemic Liquidity; Enabling Regulatory Framework; Strengthening the Broad Institutional Infrastructure; MARKET PARTICIPANT CHALLENGES; Two Strategic Challenges; Corporate Governance

Risk Management Diversification of Financial Services; CONCLUSION; CHAPTER 6 Toward an Enabling Framework; RATIONALE FOR REGULATING ISLAMIC FINANCE; ISLAMIC FINANCE PRINCIPLES AND CONVENTIONAL BANKING REGULATION; Risk Sharing; Materiality; No Riba; OVERCOMING THE CONSTRAINTS: AN ORGANIZATIONAL FRAMEWORK BEYOND BANKS; CONCLUSION; PART Four Corporate Governance; CHAPTER 7 Financial Fiduciary Governance; PROTECTING STAKEHOLDERS' FINANCIAL INTERESTS: PRACTICE AND SHORTCOMINGS; Internal Arrangements; External Arrangements; Legal and Regulatory Arrangements; Financial Information Infrastructure

EMPOWERMENT AND ENABLING REGULATIONS

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (ebrary, viewed May 1, 2014).

ISBN:

9781118847190

1118847199

9781119204343

1119204348

9781118847183

1118847180

OCLC:

877038943