Opis: Islamic Finance - Rifaat Ahmed Abdel Karim, Simon Archer

From the world's foremost authorities on the subject, the number-one guide to Islamic finance revised and updated for a post-crisis world Because it is entirely equity-based, rather than credit-based, Islamic finance is immune to the speculative bubbles and runaway volatility typical of Western finance. Especially now, in the wake of the global financial crisis, this has made them increasingly attractive to institutional investors, asset managers and hedge funds in search of more stable alternatives to conventional financial products. With interest in Islamic finance swiftly spreading beyond the Muslim world, the need among finance and investment professionals has never been greater for timely and authoritative information about the rules governing Islamic finance. This thoroughly updated and revised second edition of the premier guide to regulatory issues in Islamic finance satisfies that need. Addresses the need for banks to develop common Islamic-based international accounting and auditing standards Clearly explains the key differences between Shari'ah rulings, standardization of acceptable banking practices, and the development of standardized financial products Explores the role of the Shari'ah Boards in establishing common rules regarding the permissibility of financial instruments and markets Offers guidance for regulators seeking to adapt their regulatory frameworks to the needs of the fast-growing Islamic finance sectorAbout the Editors About the Contributors Foreword Preface Acknowledgments Part One The Nature of Risks in Islamic Banking Chapter 1 Supervision of Islamic Banks The Regulatory Challenge: Basel II and Basel III Simon Archer and Rifaat Ahmed Abdel Karim 1. Introduction 2. The Structure of Basel II and Basel III: Supervisory Implications 3. The Islamic Financial Services Board 4. Contents of this Book References Endnotes Chapter 2 Banking and the Risk Environment Brandon Davies 1. The Global Risk Environment 2. The Regulatory Environment 3. The Implementation Environment (Setting Up a Risk Management Framework in a Bank) 4. The Future Risk Environment 5. Islamic Banks and the Risk and Regulation Environment Chapter 3 Risk Characteristics of Islamic Products: Implications for Risk Measurement and Supervision Dr. Venkataraman Sundararajan 1. Introduction 2. Background 3. Types of Risks in Islamic Finance and Their Measurement 4. Overall Risk of an Islamic Bank and Approaches to Risk Mitigation 5. Summary and Policy Conclusions References Endnotes Chapter 4 Risk in a Turbulent World: Insights from Islamic Finance1 Sami Al-Suwailem 1. Introduction 2. Functions of Risk 3. Dealing with Risk 4. The Fundamental Law of Risk 5. Islamic Finance 6. Functions of Risk in Islamic Finance 7. Risk Exchange in Islamic Finance 8. Regulatory Implications 9. Conclusion References Endnotes Chapter 5 Capital Structure and Risk in Islamic Financial Services Simon Archer and Rifaat Ahmed Abdel Karim 1. Introduction 3. Risk and Capital Structure in Takaful (Islamic Insurance) Undertakings 4. Concluding Remarks References Chapter 6 Inherent Risk: Credit and Market Risks Dr. John Lee, Group Chief Risk Officer 1. Introduction 2. Distinctive Risks 3. Inherent Risks in Shari'ah Compliant Products and Services 4.4. Conclusion Appendix Endnotes Chapter 7 Operational Risk Exposures of Islamic Banks Simon Archer and Abdullah Haron 1. Introduction 2. Basel III requirements and their implications for operational risk management 3. Operational Risk: The Basel Methodology 4. Operational Risk in Islamic Banks 5. Unique Operational Risks of Islamic Financing/Investment Modes 6. Qard 7. Concluding Remarks Endnotes Chapter 8 Information Technology Risks in Islamic Banks Samir Safa 1. Introduction 2. Important Understandings and Facts 3. ITS Operational Risk in Islamic Banks 4. Technical & Functional Clarification for the Imposed Risks 5. Concluding Remarks Endnote Chapter 9 Law and Islamic Finance: An Interactive Analysis Yusuf Talal DeLorenzo and Michael J.T. McMillen 1. Introduction and Overview 2. Islamic Jurisprudence in Modern Times 3. Enforceability of the Shari'ah 4. Enforceability of the Shari'ah: Case Law and Transactional Practice 5. Transactional Practice: Legal Opinions 6. Sukuk: Capital Markets and Secondary Markets 7. Summary and Conclusion SCHEDULE A Endnotes Chapter 10 Legal Risk Exposure in Islamic Finance Andrew White and Chen Mee King1 1. Introduction 6. Concluding Remarks Endnotes Chapter 11 Shari'ah Non-Compliance Risk Assoc. Prof. Dr. Mohamad Akram Laldin 1. Introduction 2. Risk From an Islamic Perspective 3. The Concept of Shari'Ah Compliance 4. Shari'Ah Non-Compliance Risk and Its Impact 5. Dealing with Shari'ah Non-Compliance Risk 6. Measuring Shari'ah Non-Compliance Risk 7. Fiqh al-Muwazanah 8. Rectification of a Shari'ah Non-compliant Contract 8.1. Correction 9. Mitigation of Shari'ah non-compliance risk 10. Conclusion Endnotes Chapter 12 Supervisory Implications for Islamic Finance: Post Crisis Environment Peter Casey 1. Regulation and supervision 2. Supervisors and Shari'a 3. Lessons of the crisis and regulatory responses 4. The issues for supervisors Endnotes Part Two Capital Adequacy Chapter 13 Risk and the Need for Capital John Board and Hatim El-Tahir 1. Introduction 2. The Evolution of International Capital Standards 3. The Risk-Based Financial Regulation Approach 4. Globalization of financial regulation? 5. The short-lived rise of Contingent Capital Instruments 6. Conclusion Endnotes Chapter 14 Measuring Risk for Capital Adequacy: The Issue of Profit-sharing Investment Accounts Simon Archer and Rifaat Ahmed Abdel Karim 1. Introduction 2. Why Capital Adequacy? 3. Application to Islamic Banks 4. Pillar 2 of the Revised Framework and Risk Management 5. Concluding Remarks References Endnote Chapter 15 Measuring Operational Risk Dr. Sandeep Srivastava Anand Balasubramanian 1. Introduction 2. Operational risk in the context of Islamic banks 3. Operational risk capital under Basel II 4. Operational Risk Capital under the IFSB Standard 5. Industry practice and implementation issues for operational risk measurement Appendix Endnotes Chapter 16 Liquidity Risk Richard Thomas 1. Introduction 2. The Regulatory Response to liquidity risk 3. Asset Liquidity 4. Trade Finance Assets as Liquidity 5. Government Bonds and Liquidity 6. Asset Based Financings and Liquidity 7. The International Islamic Liquidity Management Corporation (IILM) 8. Liabilities (Deposits) as Liquidity 9. Accounting for liquidity and fair value 10. Islamic Banks and the Basel III Liquidity Measures 11. Conclusion Endnotes Part Three Securitization and Capital Markets Chapter 17 Securitisation in Islamic Finance 1. Preface to Securitisation in Islamic Finance: An Overview of the Sukuk Market 2. Securitisation and Sukuk: Some General Remarks 3. Market for Securitisation in Islamic Finance 4. Securitisation Structures 5. Regulatory Framework 6. Securitisation: A Growth Driver for Islamic Finance Chapter 18 The Role of Capital Markets in Providing Shari'ah-Compliant Liquidity Prasanna Seshachellam 1. Liquidity and its importance to the Islamic financial system 2. Traditional role of capital markets in providing liquidity to Financial Systems 3. Capital Markets -- Structure & analysis 4. Role of Islamic capital markets in providing liquidity 5. Enhancements to the critical dimensions of ICM -- to improve its ability to provide liquidity 6. Products 7. Players 8. Infrastructure 9. Market Segments 10. Current trends & work in progress Chapter 19 Regulating the Islamic Capital Market Nik Ramlah Mahmood 1. Introduction 2. the Applicability of Universal Principles of Securities Regulation 3. Approaches to Regulating ICM 4. The Shariah Governance Framework 5. Conclusion References Endnotes Part Four Corporate Governance and Human Resources Chapter 20 Corporate Governance and Supervision: From Basel II to Basel III Carol Padgett 1. Introduction: Corporate Governance and the Special Case of Banks 2. Regulation and the corporate governance of listed companies 3. Basel Pillar 2 and Corporate Governance in Banks 4. Conclusion Endnotes Chapter 21 Specific Corporate Governance Issues in Islamic Banks Simon Archer and Rifaat Ahmed Abdel Karim 1. Introduction 2. Salient Characteristics of Islamic Banks 3. Corporate Governance Issues in Islamic Banks 4. Exercising Effective Market Discipline on Islamic Banks 5. Regulation of Islamic Banks 6. Concluding Remarks References Endnotes Chapter 22 Transparency and Market Discipline: Post Basel Pillar 3 Daud Abdullah (David Vicary) 1. Introduction 2. Compliance with Pillar 3 3. Transparency & Market Discipline: Specificities of Islamic finance 4. Concluding Remarks Endnotes Chapter 23 Human Resource Management of Islamic Banks: Responses to Conceptual and Technical Challenges Volker Nienhaus 1. Introduction 2. Recruitment, Retention and Qualification of Personnel 3. Support Infrastructure for Islamic Financial Institutions 4. Shari'ah Compliance Issues Part Five Conclusion Chapter 24 Concluding Remarks Simon Archer and Rifaat Ahmed Abdel Karim 1. Introduction 2. The Challenge to Financial Sector Industry Regulators and Supervisors 3. The Challenge to the Islamic Financial Services Industry Sector. 4. The Challenge to Governments and Legislative Authorities 5. Conclusions Endnotes Index

Szczegóły: Islamic Finance - Rifaat Ahmed Abdel Karim, Simon Archer

Tytuł: Islamic Finance
Autor: Rifaat Ahmed Abdel Karim, Simon Archer
Producent: John Wiley
ISBN: 9781118247044
Rok produkcji: 2013
Ilość stron: 544
Oprawa: Twarda

Recenzje: Islamic Finance - Rifaat Ahmed Abdel Karim, Simon Archer