An Overview of Islamic Finance / Mumtaz Hussain, Asghar Shahmoradi, Rima Turk.

Format:

Book

Government document

Author/Creator:

Hussain, Mumtaz.

Contributor:

Shahmoradi, Asghar.

Turk Ariss, Rima.

Series:

IMF Working Papers; Working Paper ; No. 2015/120

IMF Working Papers

Language:

English

Subjects (All):

Banking law (Islamic law).

Business.

Finance (Islamic law).

Finance.

Local Subjects:

Banking law (Islamic law).

Business.

Finance (Islamic law).

Finance.

Physical Description:

1 online resource (72 p.)

Place of Publication:

Washington, D.C. : International Monetary Fund, 2015.

Language Note:

English

Summary:

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.

Contents:

Cover Page; Title Page; Copyright Page; Content Page; Abbreviations; I. Introduction and Background; II. The Framework of Islamic Finance; A. Key Principles of Islamic Finance; B. Three Principles Govern Islamic Financ; C. Key Instruments of Islamic Finance; D. Islamic Banking Model; III. Stylized Facts about Islamic Finance; A. Islamic Finance and Banking; B. Sukuk Markets; IV. Growth Drivers of Islamic Finance; V. Comparison of Islamic and Conventional Finance; A. Efficiency and Profitability; B. Risk Management; C. Sukuk and Conventional Bonds

VI. Macroeconomic Implications of Islamic FinanceA. Financial Stability; B. Monetary Policy; C. Fiscal Policy; VII. Conclusions and Policy Implications; Annex I. Key Instruments of Islamic Finance; References; Table I. Islamic Bank Balance Sheet; Footnotes

Notes:

Description based upon print version of record.

Description based on publisher supplied metadata and other sources.

ISBN:

9781513519609

1513519603

9781513565620

1513565621

OCLC:

914150073