Details

Modern Islamic Banking

Products and Processes in Practice
The Wiley Finance Series 1. Aufl.

von: Natalie Schoon
61,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	16.02.2016
ISBN/EAN:	9781119127222
Sprache:	englisch
Anzahl Seiten:	192

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Beschreibungen

Titelbeschreibung

A complete, detailed guide to modern Islamic banking fundamentals Modern Islamic Bankingprovides a comprehensive, up-to-the-minute guide to the products, processes and legal doctrines underlying Islamic banking. Written by a pioneering practitioner in the field, this book provides thorough guidance and expert-level perspective on the principles and applications of this alternative-banking model. You'll begin by learning the fundamentals, vocabulary and key concepts of Islamic banking, then explore key products including istisna'a, murabaha, musharaka, ijara, sukuk, and salam. Coverage then moves into practical applications of Islamic products to a variety of contexts including asset management, treasury, risk management, venture capital, SME finance, micro-finance and taxation. Regulatory frameworks are discussed in detail, including extensive coverage of post-financial crisis Islamic bank valuation. Islamic banking has experienced rapid growth over the past decade, a trend that is set to continue given the sector's successful weathering of the financial crisis. This book brings you up to speed on this alternative way of banking, and shows you how it applies within your own current practices. <ul> <li>Understand the principles of Islamic banking and finance</li> <li>Learn the products, vocabulary and key concepts of the field</li> <li>Consider the applications in a variety of financial contexts</li> <li>Explore the regulatory frameworks and valuation of Islamic banks</li> </ul> Islamic banking practices differ from Western banking in fundamental ways — it's these differences that shielded the sector during the global crisis, but they also require practitioners to understand a whole new set of rules, products and practices. Modern Islamic Banking gives you a solid understanding of the fundamentals and expert insight into modern practical applications.

Inhaltsverzeichnis

List of Figures xi List of Tables xiii Acknowledgements xv About the Author xvii Introduction xix CHAPTER 1 Historical Developments 1 1.1 The History of Finance 1 1.2 The History of Islamic Finance 5 CHAPTER 2 Economic Principles 7 2.1 Early Economic Thought 7 2.2 The Prohibition of Interest 9 2.3 Modern Economics and Banking 36 2.4 Islamic Ethics 38 2.5 Contracts and Prohibitions 40 2.6 Sharia’a and Prohibitions 43 CHAPTER 3 Islamic Finance Products Explained 51 3.1 Definitions 51 3.2 The Asset 52 3.3 Transaction Types 53 3.4 Bond-Like Instruments 63 CHAPTER 4 Distribution of Islamic Products 73 4.1 Distribution Channels and Sharia’a Compliance 73 4.2 Sharia’a Compliant versus Sharia’a Based 74 4.3 Competition or Opportunity 75 CHAPTER 5 Application of Islamic Products in Retail Finance 77 5.1 Current Accounts 77 5.2 Credit Cards 78 5.3 Deposit Accounts 79 5.4 Funds 83 5.5 Mortgage Products 84 5.6 Personal Loans 85 5.7 Transfers 87 CHAPTER 6 Application of Islamic Products in Treasury 89 6.1 Interbank Liquidity 89 6.2 Hedging 94 6.3 Combination of Transaction Types 98 6.4 Asset-Based Securities 99 6.5 Syndication 99 CHAPTER 7 Application of Islamic Products in Corporate Finance 101 7.1 Trade Finance 101 7.2 Project Finance 103 7.3 Property Finance 108 7.4 Leasing 113 CHAPTER 8 Application of Islamic Products to Private Equity 115 CHAPTER 9 The Role of the London Metal Exchange 117 9.1 The London Metal Exchange 117 9.2 Warrants 118 9.3 LME Base Metals 119 CHAPTER 10 Asset Management 121 10.1 Selection of Sharia’a compliant investments 122 10.2 Types of Funds 124 CHAPTER 11 Risks in Islamic Banks 125 CHAPTER 12 Governance 129 12.1 Roles 130 12.2 Social Responsibilities 132 12.3 Structures and Variations of Sharia’a Supervisory Boards 133 12.4 Serving on Multiple Boards 133 CHAPTER 13 The Islamic Financial Infrastructure 135 13.1 Regulatory Institutions 135 13.2 Socially Responsible Investments and Micro-finance 137 13.3 The Case for LIBOR 139 CHAPTER 14 Capital Adequacy Concerns 141 14.1 Challenges within the Basel Capital Adequacy Framework 141 14.2 IFSB Capital Adequacy Standards 142 14.3 Capital Adequacy for Islamic Banks around the World 148 14.4 Expected Future Developments in Capital Adequacy 149 CHAPTER 15 How to Value a Bank 151 15.1 The Components 152 15.2 The Models 153 15.3 The Special Case of Banks 154 15.4 The Special Case of Islamic Banks 154 15.5 Can a Bank be Valued? 155 CHAPTER 16 The Future 157 GLOSSARY 159 SELECT BIBLIOGRAPHY 161 INDEX 163

Autorenportrait

NATALIE SCHOON is a principal consultant with Formabb, which provides advisory services and training for financial institutions in Islamic finance, treasury, risk management and rules and regulations. She is on the board of advisors of Noriba Investing, which manages Halal investment portfolios for its clients, and is a visiting fellow at the ICMA Centre in Reading. She is also an accredited trainer for the Islamic Finance Qualification offered by the Chartered Institute of Securities and Investments.

Back cover copy

A Complete, Detailed Guide to Modern Islamic Banking Fundamentals Modern Islamic Banking provides a comprehensive, up-to-the-minute guide to the products, processes and legal doctrines underlying the expanding Islamic banking system. The conventional financial system focuses primarily on the economic and financial aspects of transactions, whereas the Islamic system places equal importance on the ethical, moral, social and religious characteristics to enhance equality and fairness. This authoritative guide fully clarifies the ins and outs of this emergent form of ethical investing and lending, where loans must be interest-free. In just thirty years, Islamic banking has gone from purely local operations to an alternative finance system of products and services for the international community, and after successfully weathering the banking crisis as a result of its unconventional paradigm, more non-Muslim investors are seeking its products to gain a competitive edge. In an engaging, conversational style, this streamlined resource quickly brings you up to speed on Islamic banking by guiding through: <ul> <li>The long-standing principles of Islamic banking and finance grounded in the profit and loss sharing principles outlined in the Code of Hammurabi</li> <li>The products, vocabulary and key concepts of the field, including profit and loss sharing, justness in exchange, transparency and the prohibition of usury</li> <li>The applications in such financial contexts as asset management, treasury, risk management, venture capital, SME finance, micro-finance and taxation</li> <li>The regulatory frameworks and valuation of Islamic banks, including the vital components of a good valuation model and how to use one to place a reasonable value on a firm as well as a bank</li> </ul> For everything you need to know and how it applies to your current practices, turn to Modern Islamic Banking.