Management of Islamic Finance : Principle, Practice, and Performance /

In this issue, we have presented issues relevant to the most recent debate on the performance, practices, and principles of the Islamic finance industry as a whole, covering eleven distinct issues.

Detalles Bibliográficos
Clasificación:Libro Electrónico
Otros Autores: Hassan, Kabir (Editor ), Raśīda, Māmunura (Editor )
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Bingley : Emerald Publishing Limited, 2019.
Edición:First edition.
Colección:International finance review ; v. 19.
Temas:
Finance > Islamic countries > Management.
Banks and banking > Islamic countries.
Banks and banking > Risk management > Islamic countries.
Finances > Pays musulmans > Gestion.
Banques > Pays musulmans.
Finance.
BUSINESS & ECONOMICS > Finance.
Banks and banking
Finance > Management
Islamic countries
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Intro
  • Contents
  • List of Contributors
  • About the Editors
  • Introduction
  • 1. Introduction
  • 2. This Issue
  • 3. Future Directions
  • References
  • Chapter 1: Investigating International Portfolio Diversification Opportunities for the Asian Islamic Stock Market Investors
  • 1. Introduction
  • 2. Literature Review
  • 2.2. International Portfolio Diversification
  • 2.3. Time-varying and Time-scale-dependent Correlations
  • 2.4. Islamic Stocks and Portfolio Diversification
  • 3. Theoretical Underpinnings
  • 4. The Applied Methodology
  • 4.1. MGARCH and DCC
  • 4.2. Maximum Overlap Discrete Wavelet Transformation
  • 4.3. CWT and Wavelet Coherence
  • 5. Data Analysis and Empirical Results
  • 5.1. Descriptive Statistics
  • 5.2. Research Question 1: Should the Asian Islamic Stock Market Investors Invest in USA, European, or BRIC Markets to Gain International Portfolio Diversification Benefits?
  • 5.3. Research Question 2: Given the Answer from the Previous Research Question, How would the International Portfolio Diversification Strategy Change Given Different Investor Stock Holding Periods (e.g., 2-4 Days, 4-8 Days, 8-16 Days, etc.)?
  • 5.4. Robustness and Validation of Results
  • Application of MODWT
  • 5.5. Summary of the Empirical Results
  • 6. Conclusion
  • References
  • Appendix 1. M-GARCH/DCC Applied Tests and Results
  • Chapter 2: Islamic Banks' Resilience to Systemic Risks: Myth or Reality-Evidence from Bangladesh
  • 1. Introduction
  • 2. Theoretical Basis for the Unique Risk Features of Islamic Banks
  • 2.1. The Prohibition of Interest and Usury (Riba)
  • 2.2. Islamic Financial Arrangements
  • 2.3. Restrictions on Money for Money Transactions
  • 2.4. Prohibition of Excessive Uncertainty (Gharar) and ­ Speculative Behavior (Maysir)
  • 2.5. Prohibition of Shariah Non-Halal (Haram) Transactions.
  • 3. Empirical Evidence for the Stability of Islamic Banks
  • 4. Systemic Risk Definitions and Measurements
  • 5. Comments on Systemic Risk Literature
  • 6. Methodology
  • 6.1. Data
  • 6.2. Risk Measures
  • 7. Results
  • 8. Conclusions
  • References
  • Chapter 3: Satisfaction with Islamic Microcredit Institutions: A Borrower-Centric Approach
  • 1. Introduction
  • 2. Literature Review and Hypotheses Development
  • 3. Data and Methodology
  • 3.1. Data Collection Process and Instruments
  • 3.2. Analyses and Procedures
  • 4. Results and Discussions
  • 4.1. Reliability
  • 4.2. Content Validity
  • 4.3. EFA, Convergent, and Discriminant Validity
  • 4.4. Sampling Adequacy, Sampling Bias, and Multi-Collinearity Problem
  • 4.5. Determinants of Overall Satisfaction of Microcredit Borrowers
  • 5. Discussion, Policy Implications, and Limitations of the Study
  • 5.1. Discussion of the Findings
  • 5.2. Policy Implications
  • 5.2.1. Invest in "People"
  • 5.2.2. Islamic Products and Services: Profit Versus Social Responsibility
  • 5.2.3. Institutional Mechanism, Credit Monitoring, and Social Development
  • 5.2.4. Overshadowing Financial Inclusion and Marketing of MCI Services
  • 5.3. Limitations of the Study
  • References
  • Chapter 4: Religious Preference and Financial Inclusion: The Case for Islamic Finance
  • 1. Introduction
  • 2. Literature Review
  • 3. Methodology
  • 4. Data
  • 5. Empirical Results
  • 6. Conclusion
  • References
  • Chapter 5: Post-Default Sukuk Restructuring: An Appraisal of Shari'ah Issues
  • 1. Introduction
  • 2. Issues Relating to Sukuk Defaults and Importance of Restructuring
  • 2.1. Failure to Pay on Time
  • 2.2. Lack of Strict Regulations Supportive of Avoiding Sukuk Defaults
  • 2.3. Structural Integrities
  • 2.4. Mimicking Conventional Bonds
  • 2.5. Additional Risks Associated with Sukuk
  • 2.6. Ambiguity and Confusion.
  • 2.7. Breach of Contract
  • 2.8. Sukuk Structuring
  • 3. Restructuring of Sukuk: Shari'ah Issues
  • 3.1. Classical Shari'ah Perspective on Debt Restructuring
  • 4. Shari'ah Compliance: Between Substance and Spirit
  • 4.1. Debtor-Friendly Versus Creditor-Friendly
  • 5. Implementation Techniques and Practical Restructuring Examples
  • 6. Lessons from Recent Sukuk Restructuring Case Studies
  • Nakheel Restructuring (UAE)
  • Dana Gas Sukuk Default: Shari'ah Issues
  • 7. Conclusion
  • References
  • Chapter 6: Relevance of Development Financial Institutions in the Presence of Islamic Financial Institutions
  • 1. Introduction
  • 2. Development Financial Institutions and the Demise
  • 2.1 Services Provided by DFIs
  • 2.2 The Need for DFIS
  • 2.3 The Demise of DFIS
  • 3. The Rise of Islamic Financial Institutions
  • 4. Analyses: Data and Methodology
  • 5. Discussion and Conclusion
  • 5.1 Funding Sources
  • 5.2 Loan Quality
  • 5.3 Capitalization
  • 5.4 Profitability
  • 5.5 Summary of the Findings
  • 5.6 Conclusion
  • References
  • Appendix: Raw Data
  • Chapter 7: Corporation's Threshold for Debt: Implications for Policy Reforms toward Equity-Biased Corporate Tax System
  • 1. Introduction
  • 2. Corporate Tax Structure
  • 3. Conventional and Islamic Capital Structure
  • 4. Corporation's Financing Choice
  • 5. All-Equity Financing Corporation
  • 6. All Debt Financing Corporation
  • 7. Corporation's Threshold for Debt
  • 8. Numerical Example
  • 9. Corporation's Stimulated Threshold for Debt in the OECD Countries
  • 10. Conclusion and Policy Implications
  • References
  • Appendix
  • Chapter 8: "Reverse Mudarabah" An Alternative of Classical Mudarabah for Financing Small Businesses
  • Introduction
  • Mudarabah
  • 2.1 The Practical Problems of Classical Mudarabah
  • 3. Islamic Microfinance
  • 4. Reverse Mudarabah Model
  • 4.1 Case Studies on Conventional Practices.
  • Case 1: Company A
  • Case 2: Company B
  • Case 3: Company C
  • 4.2 Reverse Mudarabah Models
  • Possible Business Model 1: Buy idea
  • Possible Business Model 2: Pay Salary Share Profit
  • Possible Business Model 3: No Salary Share Profit
  • Possible Business Model 4: Institutional Alternatives
  • 5. Conclusion
  • References
  • Chapter 9: Participating Mortgages: An Alternative to Housing Finance
  • 1. Introduction
  • 2. What is Participating Mortgage?
  • 2.1. Definition
  • 2.2. Types
  • 2.3. History and Literature
  • 2.4. Mechanism
  • 2.5. Contributions
  • 3. Design of PMS in Islamic Finance
  • 4. Model
  • 5. Implications
  • 5.1. Current Usage around the World
  • 5.2. Applicability of PM in Islamic Finance
  • 5.3. Securitization
  • 5.4. Challenges
  • 6. Fields of Application
  • 7. Concluding Remarks
  • References
  • Chapter 10: Determinants of Customers' Engagement with Islamic Banking
  • 1. Introduction
  • 2. The Determinants of Customers' Engagement with Islamic Bank
  • 2.1. Customers' Product Knowledge
  • 2.2. Constructs of Customers' Product Knowledge
  • 2.3. Other Dimensions of Customers' Product Knowledge
  • 3. Other Determinants of Customers' Engagement with Islamic Banking
  • 4. Concept and Dimensions of Customer Patronage
  • Reference
  • Chapter 11: Political Islam, Democracy, and Islamic Finance Development
  • 1. Introduction
  • 2. Political Islam, Democratization, and Islamic Financial Development
  • 2.1. Econometric Strategy and Data
  • 2.2. Evidence
  • 3. Models and Results
  • 3.1. Evidence from Regression Results
  • 4. Conclusions
  • References
  • Index.

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