Home Legal History • Download New issues in Islamic finance and economics : progress and by Hossein Askari, Zamir Iqbal, Abbas Mirakhor PDF

Download New issues in Islamic finance and economics : progress and by Hossein Askari, Zamir Iqbal, Abbas Mirakhor PDF

By Hossein Askari, Zamir Iqbal, Abbas Mirakhor

"The authors argue that the longer term luck of Islamic finance depends on a few advancements, together with: fiscal and monetary reform in Islamic international locations, institutional reform and liberalization (leading to the advance of obvious and effective institutions), governance and regulatory oversight of Islamic monetary associations and items (affecting the popularity of Islamic associations and Read more...

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New concerns in Islamic Finance & Economics: development and demanding situations offers a evaluate of the most matters and demanding situations dealing with Islamic finance. the appliance of Islamic finance is currently Read more...

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Hassan and Girard (2005) looked at Dow Islamic indices for the period of 1992 to 2005 and did not find any noticeable performance differences between Islamic and non-Islamic indices from January 1996 to December 2005. The Dow Islamic indices outperformed their conventional counterparts from 1996 to 2000 and underperformed them from 2001 to 2005. They suggest that the period-specific performance of Islamic indices could be attributed to style differences between the two types of series because they observed that Islamic indices are growth and small-cap oriented and conventional indices are relatively more value and mid-cap focused.

For example, the Islamic Profit Rate Swap (IPRS) was introduced to assist in the management of profit rate risks. A profit rate swap is a mechanism structured to allow bilateral exchange of profit streams using two parallel and back-to-back Islamic markedup sale (murabahah) transactions. In simple IPRS, a series of murabahah sale and purchases are conducted, allowing parties to swap or exchange profit rates from fixed to floating rates or vice versa. In another version, called Islamic Cross-Currency Swap (ICCS), the same mechanism is applied for the purpose of cross-currency swaps.

The allocation mechanism is driven by predefined trigger rules (to switch between risky and non-risky assets) based on the difference between the value of the basket of Islamic underlyings and the value of the cash assets. 24 The Development and Progress of Islamic Finance • • 29 Standard Chartered Bank, Malaysia has introduced several hedging instruments that are Shari’ah-compliant. For example, the Islamic Profit Rate Swap (IPRS) was introduced to assist in the management of profit rate risks. A profit rate swap is a mechanism structured to allow bilateral exchange of profit streams using two parallel and back-to-back Islamic markedup sale (murabahah) transactions.

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