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Shariah Investment Agreement
  • Language: en
  • Pages: 192

Shariah Investment Agreement

Risk-sharing investment is currently the buzz word in Islamic finance. However, there is an incongruence in applying multilayered and opaque Tijarah contracts for investment purposes. This has contributed to the divergence between Shariah and Common Law and caused tremendous problems and systemic legal risks to Islamic finance. The authors of Shariah Investment Agreement introduce a legal tool in the form of a Shariah Investment Agreement carefully drafted to ensure that it is Shariah-compliant and can be applied in Common Law jurisdictions as well, so as to allow for the execution of risk-sharing investment in Islamic finance. It details the building blocks and key considerations that must be noted when drafting such agreements so the investor and investee will know what to expect when entering into such a contract. Proper implementation of the Shariah Investment Agreement will pave a clear route to a harmonious convergence between Shariah and Common Law and lead to Islamic finance developing further to become a stronger, unstoppable force in the finance industry.

Shattering the Myth
  • Language: en
  • Pages: 258

Shattering the Myth

Islam is often portrayed, especially in Western media, as an alien, violent, hostile, and monolithic religion, whose adherents are intent upon battling nonbelievers throughout the world. Shattering the Myth demonstrates that these conceptions more accurately reflect the bias of Western reporters than they do the realities of contemporary Islam. Westerners are barraged by images of violence that usually originate from armed confrontations in one small corner of the world. Islam, Bruce Lawrence argues, is a complex, international religious system that cannot be reduced to stereotypes. As Lawrence demonstrates, Islam is a religion shaped as much by its own postulates and ethical demands as by t...

The Many and the One
  • Language: en
  • Pages: 376

The Many and the One

The war on terrorism, say America's leaders, is a war of Good versus Evil. But in the minds of the perpetrators, the September 11 attacks on New York and Washington were presumably justified as ethically good acts against American evil. Is such polarization leading to a violent "clash of civilizations" or can differences between ethical systems be reconciled through rational dialogue? This book provides an extraordinary resource for thinking clearly about the diverse ways in which humans see good and evil. In nine essays and responses, leading thinkers ask how ethical pluralism can be understood by classical liberalism, liberal-egalitarianism, critical theory, feminism, natural law, Confucia...

The Islamic Voluntary Sector in Southeast Asia
  • Language: en
  • Pages: 273

The Islamic Voluntary Sector in Southeast Asia

The Islamic economy may be broadly divided into three main sectors: the government, the commercial, and the voluntary. In Islamic states, these sectors play complementary roles in accordance with the tenets of Islam. In the non-Islamic states of Southeast Asia where there are, nevertheless, large Muslim communities, the Islamic voluntary sector has to assume greater responsibilities if the economic welfare and development of Muslim communities in the region are to be consonant with Islam. In this volume, several scholars examine the role of the Islamic voluntary sector (broadly defined) in Indonesia, Malaysia, the Philippines, Singapore. and Thailand, and explicate issues such as the mobilization, administration, and management of zakat and its various forms, waqf, and saddaqah.

Religious Harmony
  • Language: en
  • Pages: 377

Religious Harmony

It is crucial today to understand how religions can exist harmoniously in a shared environment, whether local or global. A reasoned approach to this question was sought by participants at a stimulating conference of the International Association for the History of Religions (IAHR) in a predominantly Muslim country, Indonesia. Themes treated include the relation between theoretical approaches and religious viewpoints, practical problems and conflict resolution at the local level, and religious education with special reference to the role of Muslim schools (pesantren) in Indonesia.

Rediscovery and Revival in Islamic Environmental Law
  • Language: en
  • Pages: 189

Rediscovery and Revival in Islamic Environmental Law

  • Categories: Law

For the first time, Sharia' and common law are compared from the perspective of environmental law to delve into their common grounds.

Macroprudential Regulation and Policy for the Islamic Financial Industry
  • Language: en
  • Pages: 276

Macroprudential Regulation and Policy for the Islamic Financial Industry

  • Type: Book
  • -
  • Published: 2016-05-25
  • -
  • Publisher: Springer

This volume aims to discuss the current research, theory, methodology and applications of macropreudential regulation and policy for the Islamic financial industry. Published in cooperation with the Islamic Research and Training Institute (IRTI), this book features contributions from a workshop presented in collaboration with the University College of Bahrain (UCB) in Manama, Bahrain, aimed to bring together experts in Islamic banking and regulation and financial economics. This resulting book sheds light on how macroprudential policy may be implemented in the Islamic financial system, and indicates current challenges and their effects on economic growth, financial stability and monetary reg...

An Islamic Model for Stabilization and Growth
  • Language: en
  • Pages: 261

An Islamic Model for Stabilization and Growth

This book argues that the macroeconomic policy adjustment models recommended by the IMF and the World Bank for implementation in many Muslim countries, with substantial donor financial support, have not been effective. Economic indicators show low economic growth, persistent fiscal and external deficits and limited industrialization. Also, these countries are experiencing increases in unemployment, poverty and substantial growth in income and wealth ‎inequalities. These facts ‎underline an urgent need to produce an alternative to the failed conventional macroeconomic model in order to address the challenge of ‎macroeconomic and social adjustment policies. The project posits and investigates the idea that the Islamic economic model prescribed in the Quran and applied by the Prophet (sawa) could be the ideal model for Muslim as well as non-Muslim ‎countries.

Development Issues, Policies and Actions: Selected Recent Works on Malaysia and Bangladesh
  • Language: en
  • Pages: 163

Development Issues, Policies and Actions: Selected Recent Works on Malaysia and Bangladesh

Development Issues, Policies and Actions is intended as a book of readings on development for the general readers and for the undergraduate and graduate students of development as a supplement to the text book on economic development. It is written with materials mostly taken from our recent research works on current development issues and policy actions in Malaysia and Bangladesh. As a result, we believe that the intended readers and students will find the materials fairly known and easier to read and comprehend. To make the book more reader-friendly, we provided a comprehensive summary at the end of each essay. Readers who are time pressed but want to know the basic contents and the key me...

The Islamic Debt Market for Sukuk Securities
  • Language: en
  • Pages: 243

The Islamic Debt Market for Sukuk Securities

The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a highly unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich. The internationally renowned contributors present an in-depth study of sukuk securities, beginning with a comprehensive definition and history. They go on to discuss Islamic financial concepts and practices that govern how sukuk securities are issued, how markets are carefully regulated to protect investors, and how securities are designed to safeguard invested money. The prospects and challenges of developing sukuk Islamic debt markets across the world are also illustrated. This comprehensive guide to sukuk markets will prove a fascinating and useful reference tool for academics, students, researchers and practitioners with an interest in Islamic finance, and, more specifically, in the nascent field of sukuk securities.