|
Showing 1 - 9 of
9 matches in All Departments
This book bridges the gap between Islamic and conventional
(micro)economics by demonstrating how modern tools and theories of
microeconomics can be applied to Islamic assumptions regarding
economics and finance. In contrast to the tendency for Islamic
economics and finance proponents to use qualitative and normative
approaches based on idealistic assumptions, this book demonstrates
how one can instead construct analytical models of Islamic
economics and finance and simply compare the implications with
those predominant in today’s world. This book also offers
extensive literature reviews demonstrating that for a long time,
the gap between Islamic and conventional economics and finance is
not as wide as previously thought, allowing those with an interest
in both fields to participate more effectively and meaningfully in
the ongoing discourse between the two fields. The authors
conceptualize a general approach and apply it to basic consumer
theory. More advanced microeconomic ideas are then discussed,
culminating in demonstrations of how contract theory can facilitate
a deeper analysis and appreciation of Islamic financial securities.
A wide spectrum of academic literature on both Islamic and
conventional economics and finance is drawn upon to facilitate a
better appreciation for both fields and to inspire future works
comparing the two in a more objective manner.
This book offers a unique, in-depth, and up-to-date overview of
Islamic banking and finance, capital markets, and sukuks at the
grassroots level. It deals with one of the most potent and
increasingly popular financial instruments. It defines and explores
the differences between conventional and Sukuk bonds and also
examines the integration of Sukuk in various country contexts and
both Muslim and non-Muslim economies. The book consists of five
core topics. First, it describes the evolution of the Islamic
finance industry and capital markets; second, it discusses the
basic features and instruments of Islamic banking; and third, it
illustrates the current state of capital markets and Islamic
finance. The book then examines the development of Sukuk in Islamic
capital markets and Shariah perspectives and, finally, briefly
discusses the structure of Sukuks and its development in the
context of Pakistan. In a nutshell, this book provides a basic
understanding of Islamic financial instruments, their
implementation in different regions, and their points of
differentiation from conventional modes of finance; therefore, it
will be a useful addition to the literature for scholars,
researchers, and students of Islamic banking and finance.
This book offers a unique, in-depth, and up-to-date overview of
Islamic banking and finance, capital markets, and sukuks at the
grassroots level. It deals with one of the most potent and
increasingly popular financial instruments. It defines and explores
the differences between conventional and Sukuk bonds and also
examines the integration of Sukuk in various country contexts and
both Muslim and non-Muslim economies. The book consists of five
core topics. First, it describes the evolution of the Islamic
finance industry and capital markets; second, it discusses the
basic features and instruments of Islamic banking; and third, it
illustrates the current state of capital markets and Islamic
finance. The book then examines the development of Sukuk in Islamic
capital markets and Shariah perspectives and, finally, briefly
discusses the structure of Sukuks and its development in the
context of Pakistan. In a nutshell, this book provides a basic
understanding of Islamic financial instruments, their
implementation in different regions, and their points of
differentiation from conventional modes of finance; therefore, it
will be a useful addition to the literature for scholars,
researchers, and students of Islamic banking and finance.
The development of Islamic banking and finance (IBF) previously
centred around three regions of the world: the Middle East,
Southeast Asia, and South Asia. However, in recent years, this has
expanded, as interest in IBF has gained momentum in Australia, the
USA, and Europe, especially in the UK. Several Western market
players have established their own Islamic window or subsidiaries
to cater to the need of growing Muslim populations in these
regions. This book examines the recent developments in IBF,
particularly in the context of Islamic social finance instruments,
such as Islamic microfinance, halal education, takaful, mutual
funds, and waqf. It covers the religiosity, spirituality, and
tawhid index, which promotes social well-being and empowerment. The
book is interdisciplinary, and theories, practice, and key issues
are presented simultaneously, introducing new ideas and techniques
to the IBF community. Moreover, the book examines topics such as
innovation in Islamic social finance instruments, advanced
techniques of risk mitigation in Islamic capital markets, marketing
and the halal industry, and shari'ah-compliant instruments, which
are critical to Islamic finance. The book is an essential reference
text for academics and research students at the master's and
doctorate levels in IBF.
This book covers the recent literature concerning Islamic banking
and finance (IBF), focuses on the history of IBF since its
inception and introduces the latest innovative concepts and
practices in the field. The authors cover important topics such as
the role of ownership, Shari`ah compliance and governance
structures in raising debt capital using IBF practices, including
Fatwa issues and the use of benchmarking practices. The book also
addresses topics like archival data, the influence of leverage on
ownership structure, and sukuk structures, as well as
misconceptions, threats, challenges and opportunities in IBF.
Finally, the book deals with prominent issues such as business
score-carding, Takaful (Islamic Insurance), IBF implications for
block-chain-based fintech and finance hub concepts in Islamic
microfinance models. This edited volume is an important
contribution to the IBF literature as it provides a much-needed
in-depth look into industry practices through the perspective of
corporate finance and governance. With its interdisciplinary
approach covering legal and financial issues along with a wide
variety of notable contributors, this book will be a valuable
reference guide to both teachers and students of Islamic banking
and economics.
In recent years econometricians have examined the problems of
diagnostic testing, specification testing, semiparametric
estimation and model selection. In addition researchers have
considered whether to use model testing and model selection
procedures to decide the models that best fit a particular dataset.
This book explores both issues with application to various
regression models, including the arbitrage pricing theory models.
It is ideal as a reference for statistical sciences postgraduate
students, academic researchers and policy makers in understanding
the current status of model building and testing techniques.
This book covers the recent literature concerning Islamic banking
and finance (IBF), focuses on the history of IBF since its
inception and introduces the latest innovative concepts and
practices in the field. The authors cover important topics such as
the role of ownership, Shari`ah compliance and governance
structures in raising debt capital using IBF practices, including
Fatwa issues and the use of benchmarking practices. The book also
addresses topics like archival data, the influence of leverage on
ownership structure, and sukuk structures, as well as
misconceptions, threats, challenges and opportunities in IBF.
Finally, the book deals with prominent issues such as business
score-carding, Takaful (Islamic Insurance), IBF implications for
block-chain-based fintech and finance hub concepts in Islamic
microfinance models. This edited volume is an important
contribution to the IBF literature as it provides a much-needed
in-depth look into industry practices through the perspective of
corporate finance and governance. With its interdisciplinary
approach covering legal and financial issues along with a wide
variety of notable contributors, this book will be a valuable
reference guide to both teachers and students of Islamic banking
and economics.
This book provides researchers and students with an understanding
of the basic legal tenets of the Islamic finance industry, studying
the real economic effects of those tenets using the tools of the
modern economic theory. Split into four parts, the book begins with
an introduction to the history and a legal framework for Islamic
banking, covering typical Islamic financial products such as Sukuk
and Takaful and examining the structure of Islamic financial
institutions. It then analyzes and discusses the Miller-Modigliani
Theorem, which is of direct relevance to Islamic banks which are
prohibited to charge interest and often have to rely of profit-loss
sharing agreements. Part III of the book introduces the reader to
modern mechanism design theory, paying particular attention to
optimal contracting under hidden action and hidden information, and
final part of the book applies the tools of economic theory to
understand performance of Islamic financial institutions such as
Islamic banks and Takaful operators. Islamic Finance in Light of
Modern Economic Theory brings together all the necessary technical
tools for analyzing the economic effects of Islamic frameworks and
can be used as an advanced textbook for graduate students who wish
to specialize in the area, as a reference for researchers and as a
tool to help economists improve the design of Islamic financial
institutions.
This book addresses two interrelated problems in economics
modelling: non-nested hypothesis testing in econometrics, and
regression models with stochastic/random regressors. The primary
motivation for this book stems from the nature of econometric
models. As an abstraction from reality, each statistical model
consists of mathematical relationships and stochastic, behavioural
assumptions. In practice, the validity of these assumptions and the
adequacy of the mathematical specifications is ascertained through
a series of diagnostic and specification tests. Conventional test
procedures, however, fail to recognise that economic theory
generally provides more than one distinct model to explain any
given economic phenomenon.
|
|