Book Library

Read or download your favorite books

Download: [PDF] the legal and regulatory aspects of islamic banking

The Legal And Regulatory Aspects Of Islamic Banking

The Legal and Regulatory Aspects of Islamic Banking PDF

Get Books



Author: Abdul Karim Aldohni
Publisher: Routledge
ISBN: 1136703152
Size: 49.76 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 264
View: 1899


Book Description: During the last ten years the Islamic banking sector has grown rapidly, at an international level, as well as in individual jurisdictions including the UK. Islamic finance differs quite substantially from conventional banking, using very different mechanisms, and operating according to a different theory as it is based on Islamic law. Yet at the same time it is always subject to the law of the particular financial market in which it operates. This book takes a much-needed and comprehensive look at the legal and regulatory aspects which affect Islamic finance law, and examines the current UK and international banking regulatory frameworks which impact on this sector. The book examines the historical genesis of Islamic banking, looking at how it has developed in Muslim countries before going on to consider the development of Islamic banking in the UK and the legal position of Islamic banks within English law. The book explores company, contract, and some elements of tax law and traces the impact it has had on the development of Islamic banking in the UK, before going on to argue that the current legal and regulatory framework which affects the Islamic banking sector has on certain occasions had an unintended adverse impact on Islamic banking in the UK. The book also provides an overview of the Malaysian experience in relation to some of the main legal and regulatory challenges in the context of Islamic banking and finance.


The Chancellor Guide To The Legal And Shari A Aspects Of Islamic Finance

The Chancellor Guide to the Legal and Shari a Aspects of Islamic Finance PDF

Get Books



Author: Humayon A. Dar
Publisher: Harriman House Limited
ISBN: 0857192000
Size: 77.42 MB
Format: PDF, Mobi
Category : Business & Economics
Languages : en
Pages : 372
View: 4512


Book Description: Unprecedented economic growth and wealth accumulation in predominately Muslim countries have prompted many financial institutions in the US and Europe to position their investment teams across the Middle East and Asia to be closer to the markets in which they invest, and to take advantage or asset-gathering opportunities. This growth has also encouraged an increasing number of western industrialised countries to adopt legislation that responds to the requirements of the Musli investment community. To be effective in these markets it is essential that professionals have an understanding of how Shari'a legal principles are applied in the financial sector. Failure to do so exposes them and their clients to potential financial, legal and reputational pitfalls. The Chancellor Guide to the Legal and Shari'a Aspects of Islamic Finance is the first professional reference to focus specifically on the legal dimension of Islamic Finance. The guide brings together nineteen Islamic Finance legal practitioners and advisers to provide a comprehensive yet practical legal perspective on the subject. Each contributor draws on several years' hands-on experience in Islamic Finance product development and advice to leading financial institutions to provide a real-world, contemporary assessment of the key legal issues in Islamic Finance. The guide's hands-on approach and accessible style make it required reading for everyone with a professional interest in Islamic Finance, be they lawyers, accountants, regulators, bankers or investors. It is also a unique reference for academic institutions worldwide.


Foundations Of Shariah Governance Of Islamic Banks

Foundations of Shariah Governance of Islamic Banks PDF

Get Books



Author: Karim Ginena
Publisher: John Wiley & Sons
ISBN: 1118460774
Size: 51.15 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 400
View: 5207


Book Description: A practical guide for robust sharī'ah governance of the Islamic banking industry Debate in the market on the extent of sharī'ah compliance of Islamic banks, their products, and activities has piqued stakeholders' interest. In Foundations of Sharī'ah Governance of Islamic Banks, Karim Ginena and Azhar Hamid explore the depths of sharī'ah governance to unravel its mysterious dimensions, and equip academics and practitioners with a solid understanding of the subject, which has become a serious challenge and thus deserves dedicated attention. The authors make a strong case for the need to contain the sharī'ah risk that Islamic banks experience, and present a compelling argument for how this should be done. Ginena and Hamid propose a robust sharī'ah governance model that comprehensively tackles thisrisk, and helps improve the extent of sharī'ah compliance of market players. The authors detail the internal, external, and institutional arrangements needed to promote responsible sharī'ah governance, and critically analyze current laws, regulations, and industry practices on the topic. The chapters of the book do the following: Examine the roots, characteristics and objectives of sharī'ah and its relation to financial dealings; Probe the role of regulators in sharī'ah governance, explore the different approaches adopted by banking supervisors, and provide examples of relevant legal and regulatory measures; Explain to bank directors and management the fiduciary duty they assume with respect to sharī'ah compliance, and detail how they could discharge this responsibility in line with best practices; Elaborate on the purpose of the Sharī'ah Supervisory Board (SSB), its responsibilities, competence criteria, internal regulations, and key governance guidelines; additionally, they explore different SSB models; Describe the internal sharī'ah control system including its six components, and examine the internal sharī'ah audit function as well as different stages of conducting a sharī'ah audit; Clarify the role of a sharī'ah auditor, with guidance on reporting lines, scope of duties, authority, and practical ways on fulfilling tasks, such as a sample sharī'ah risk assessment grid and audit checklists; Discuss the newly emerging external sharī'ah advisory firms that are expected to play a key role in the coming years and the services they provide. Through an effective treatment of each of these elements, and the way that they interact with one another, the book offers a fresh take on how robust sharī'ah governance of Islamic banks can be successfully accomplished. It is a comprehensive resource for academics, regulators, directors, lawyers, auditors, consultants, employees, and customers of Islamic banks interested in learning more about these challenges. This essential reading persuasively extends the discourse on the subject and addresses critical sharī'ah issues that have policy implications for decision makers in jurisdictions aiming to attract the fast-growing Islamic finance industry or increase their market share.


Islamic Finance In Western Higher Education

Islamic Finance in Western Higher Education PDF

Get Books



Author: A. Belouafi
Publisher: Springer
ISBN: 1137263695
Size: 11.56 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 272
View: 3407


Book Description: This is the first of its kind in its topical coverage of the developments and prospects of Islamic finance education at Western higher education. Intended to establish itself as a unique reference for academics and researchers this book gives an insight into ethics and values in curricula development at business schools and in finance departments.


Islamic Banking And Finance In The European Union

Islamic Banking and Finance in the European Union PDF

Get Books



Author: M. Fahim Khan
Publisher: Edward Elgar Publishing
ISBN: 1849803412
Size: 26.38 MB
Format: PDF, Docs
Category : Business & Economics
Languages : en
Pages : 241
View: 7207


Book Description: As an introduction to the complex issue of harmonization of legal and regulatory structure of the European financial system and Islamic finance, this is a useful and welcome volume. The ideas, insights and practical issues addressed in the informed papers that compose the book should be valuable for academics and students of finance, and to those who provide legal and financial services. The book will be helpful also to European regulators who have yet to appreciate the importance of Islamic finance and its potential contribution to financial globalization as well as to European economic growth. Abbas Mirakhor, Former Executive Director, International Monetary Fund, US This timely book examines the authorization of Shari ah-compliant intermediaries as either credit institutions or as investment companies in the European Union. The contributing authors explore the key topics of this area through differing yet parallel perspectives for example, comparing economic and legal standpoints, looking at both European and national levels and considering both academic and technical approaches. The book discusses the common origin of Islamic and Western traditions in commercial and banking transactions, reviewing a period in which the Italian merchants and their organizations drove the rebirth of post-medieval society in trade and law. The editors investigate whether the Islamic banking and financial model complies with the European framework, spelling out the different experiences in single Member States (Germany, France, Italy, and the United Kingdom). Notwithstanding the obstacles to being authorized as domestic credit institutions, they conclude that the access of Islamic intermediaries is suitable and may have positive effects on European integration, as well as increasing the competition among the stand-still operators and evoking the ethical dimension of banking and finance. The book also highlights how Islamic banking would make the industry more inclusive. This multidisciplinary book will appeal greatly to economics and legal scholars with an interest in European and international banking and financial law, as well as postgraduate students in international law and banking law. Practitioners and regulators will also find this book an invaluable resource.


Regulation And Supervision Of Islamic Banks

Regulation and Supervision of Islamic Banks PDF

Get Books



Author: Aledjandro Lopez Mejia
Publisher: International Monetary Fund
ISBN: 1498327265
Size: 31.22 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 33
View: 5217


Book Description: This paper aims at developing a better understanding of Islamic banking (IB) and providing policy recommendations to enhance the supervision of Islamic banks (IBs). It points out and discusses similarities and differences of IBs with conventional banks (CBs) and reviews whether the IBs are more stable than CBs. Given the risks faced by IBs, the paper concludes that they need a legal, corporate and regulatory framework as much as CB does. The paper also argues that it is important to ensure operational independence of the supervisory agency, which has to be supported by adequate resources, a sound legal framework, a well designed governance structure, and robust accountability practices.


Transnational Law

Transnational Law PDF

Get Books



Author: Miguel Maduro
Publisher: Cambridge University Press
ISBN: 1107028310
Size: 49.28 MB
Format: PDF
Category : Law
Languages : en
Pages : 409
View: 2507


Book Description: Examination of the effects of law's de-nationalisation by placing European law in the context of transnational law.


Legal Regulatory And Governance Issues In Islamic Finance

Legal  Regulatory and Governance Issues in Islamic Finance PDF

Get Books



Author: Rodney Wilson
Publisher: Edinburgh University Press
ISBN: 0748655271
Size: 47.86 MB
Format: PDF, ePub, Mobi
Category : Religion
Languages : en
Pages : 256
View: 106


Book Description: A detailed examination of Islamic banking laws and regulatory systems governing Islamic finance worldwide


Raising Capital On Uk K Markets

Raising Capital on    uk  k Markets PDF

Get Books



Author: Salim Al-Ali
Publisher: Springer
ISBN: 3030145360
Size: 44.44 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages : 317
View: 1962


Book Description: Ṣukūk markets have grown significantly worldwide since their emergence— in Islamic jurisdictions as well as conventional jurisdictions including the US, the UK, Germany, China, France and Singapore. The practices of ṣukūk markets, however, have come under close scrutiny. The legal and regulatory risks arising from the existing general legal environment and their impact on those investing and trading in ṣukūk markets has not received adequate attention. The topic of ṣukūk has been subject to extensive research and academic discussion from different perspectives, but the existing literature has not adequately addressed the issues associated with these markets. This book examines the contemporary issues encountered in the foundation and operation of ṣukūk markets by providing an in-depth discussion of the issues facing ṣukūk markets from legal and regulatory perspectives and focusing attention on how soundness can be ensured in the wider context. These issues go to the heart of what the ṣukūk market is really about, as recent debate has recognised in ṣukūk the replication of conventional bonds in ways that are considered unsatisfactory from an Islamic law point of view.


Product Development In Islamic Banks

Product Development in Islamic Banks PDF

Get Books



Author: Habib Ahmed
Publisher: Edinburgh University Press
ISBN: 0748687467
Size: 76.40 MB
Format: PDF, ePub, Docs
Category : Business & Economics
Languages : en
Pages : 272
View: 3977


Book Description: This book systematically studies the process of developing Islamic financial products for banks.