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1. introduction.
- 2. (A very brief account of the) history and development of the Shari‘a
- 3. Determining what counts as ‘Islamic’
- 4. Standard setting for Islamic financial products
- 5. Basics of traditional and Islamic wealth management
- 6. Islamic wealth management products
- 7. Singapore’s regulatory approach
- 8. Conclusion: prospects, lingering issues, and risks
Islamic wealth management: prospects, challenges, and the case of Singapore
- Article contents
- Figures & tables
- Supplementary Data
Arif A Jamal, Habib Motani, Islamic wealth management: prospects, challenges, and the case of Singapore, Capital Markets Law Journal , 2024;, kmae008, https://doi.org/10.1093/cmlj/kmae008
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the assets under management of total global Islamic funds has witnessed a compounded annual growth rate of 8.5% from 2004 to 2015 and the number of Islamic funds has increased from 284 in 2004 to 1,220 in 2015 … [As such] future growth of the Islamic wealth management industry is expected to be driven by the increase in demand for Islamic assets, growth of pension fund assets in Muslim countries, growth of global takaful , 2 and increased allocation favouring Islamic assets by sovereign wealth funds. 3
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- undp_my_casestudies_on_innovation_in_islamic_finance.pdf pdf (40 MB)
Case Studies on Innovation in Islamic Finance
undp_my_casestudies_on_innovation_in_islamic_finance.pdf
August 10, 2023
This report covers selected case studies in the Islamic finance and social finance ecosystem in Malaysia and Indonesia. These case studies document eco-building requirements and innovative solutions which were able to strengthen the two systems’ effectiveness, coverage and transparency – particularly in its integration with the digital economy. Development practitioners may find useful insights from the case studies featured in this report in developing their own strategies and action plans to suit their own needs, unique features, level of financial infrastructure and market readiness.
Document Type
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Case Studies in Islamic Banking and Finance 1st Edition
Based around 12 individual cases, the book stimulates discussion and develops the reader's understanding of Islamic finance by contrasting the theoretical concepts discussed in the author's companion text Introduction to Islamic Banking and Finance with practical real world situations. The cases cover core Islamic banking and finance topics including the Ijara, Mudaraba and Musharaka contracts; Islamic mortgages for home finance; leverage; and issues involved in opening an Islamic bank. Financial statement analysis for Islamic banks, the implications for fund management for equity investing and the impact of loan defaults on Islamic and conventional banks are also included. Each chapter concludes with a set of questions designed to test the reader's understanding of each case, with suggested solutions at the end of the book.
This book is a must have resource for those wishing to apply their understanding of this complex subject and is an essential read for anyone seeking practical examples of how to apply the concepts in a real world environment.
- ISBN-10 0470978015
- ISBN-13 978-0470978016
- Edition 1st
- Publisher Wiley
- Publication date August 15, 2011
- Language English
- Dimensions 6.62 x 0.6 x 9.62 inches
- Print length 192 pages
- See all details
Editorial Reviews
About the author.
Subsequently, Brian taught courses on Islamic banking and finance at a range of financial institutions including the World Bank, National Commercial Bank (Saudi Arabia), Global Investment House (Kuwait), Noor Islamic Bank (UAE), the UK Treasury, the Central Bank of Iran, the Central Bank of Syria, the Chartered Institute for Securities and Investment, the Institute for Financial Services and Scotland Yard.
Brian's vast academic expertise in Islamic finance is highlighted by his role as former Joint Editor of the Islamic Finance Qualification Handbook and his past teaching work at a number of top universities worldwide including the London School of Economics, the City University of Hong Kong, the American University of the Middle East in Kuwait and London Metropolitan University Business School.
Brian's impressive list of publications include over 100 articles in journals, business magazines and the financial press including Islamic Business and Finance, Islamic Banking and Finance , the Central Banking Journal, Euromoney , the Securities Journal and the International Currency Review . He has also published 6 books on Islamic banking and financial markets.
Product details
- Publisher : Wiley; 1st edition (August 15, 2011)
- Language : English
- Paperback : 192 pages
- ISBN-10 : 0470978015
- ISBN-13 : 978-0470978016
- Item Weight : 12 ounces
- Dimensions : 6.62 x 0.6 x 9.62 inches
About the author
Brian kettell.
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Case Studies in Islamic Banking and Finance: Case Questions & Answers
What are the principles of Islamic banking and finance? Case Study 1.The Ijara Contract as a mode of Islamic Finance. Case Study 2. The Musharaka Contract as a mode of Islamic Finance. Case Study 3. The Diminishing Musharaka Contract as a mode of Islamic Finance. Case Study 4.1.The Mudaraba Contract as a mode of Islamic Finance. Case Study 4.2.The Mudaraba contracts with multiple financing options. Case Study 5. Murabaha, Musharaka, Ijara and Ijara Wa-Iktina. Case Study 6. Islamic Mortgages for Home Finance. Case Study 7. Sources of Finance for Islamic Banks: An Application of Profit and Loss Sharing. Case Study 8. Financial Statement Analysis for Islamic Banks. Case Study 9. Islamic Investment Prohibitions. Case Study 10. Issues involved in creating an Islamic bank within a western regulatory framework : the case of the Islamic Bank of Britain. Case Study 11. Leverage and Islamic Banking. Case Study 12. Impact of Loan Defaults on Islamic and Conventional Banks. A glossary of Islami...
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CASE STUDY ON STRUCTURING, POLICY & STRATEGY IN ISLAMIC FINANCE
General overview.
This module engages learners to re-examine extant regulatory and Shariah governance framework in the context of reviewing and formulating policies and strategies for Islamic financial services. This course presents a broad perspective with an in-depth insight of issues emanating from the principles, policies, strategy, and practices of Islamic financial institutions as well as engagement in Islamic financial services. Using case study materials and techniques, learners are encouraged to grasp the principles, highlight and analyse the issues, identify relevant constraints and variables to formulate structures, policy, strategy, and solutions to pertinent issues. The case in context discussion would vary from banking, capital markets, takaful and social finance related practices. The learning process in analysing both financial business, governance and Shariah issues are emphasized to articulate an eclectic solution in both regulator and board engagements.
- To re-examine extant regulatory and Shariah governance framework in the context of reviewing and formulating policies and strategies for Islamic financial services
- To identify and adopt product structuring considerations as well as Shariah and regulatory requirements
- To apply and adapt principles and process of structuring in different institutions or setting
- To align structuring process to established policies and specified strategies (risk appetite) of institution.
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DBA (Strathclyde,UK), BBA (Hons) (IIUM)
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Association of Shariah Advisors in Islamic Finance (ASAS) was established on 12 April 2011, with the main objective of establishing a global entity to ensure professionalism among Shariah advisors and experts of Islamic Finance.
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MALAYSIA : Malaysian automotive company’s SPV issues two Islamic medium-term notes
TURKIYE : Turkish REIT prints lease certificate worth TRY250 million (US$7.76 million)
SAUDI ARABIA: Operation and maintenance services provider secures Islamic financing facility from Saudi Islamic bank
MALAYSIA : Malaysian organization releases recommendations for next stage of development of Islamic finance industry
GLOBAL: AAOIFI extends deadline for feedback on exposure draft of Shariah standard
MALAYSIA: Malaysia announces Shariah compliant investments from booster fund and plan for Islamic blockchain hub in Labuan, IFN Investor reports
TURKIYE: Dubai Islamic Bank confirms support for IFN Turkiye Dialogues 2024 as partner
BAHRAIN: Power generation and water desalination company closes refinancing facility for Bahraini power project, Trade Arabia reports
SAUDI ARABIA: Wall Street investment bank secures Saudi license, reports Reuters
TURKIYE: Kuveyt Turk Katilim Bankasi announces sale of lease certificate worth TRY300 million (US$9.31 million)
QATAR: Qatar Central Bank auctions treasury bills and Sukuk worth QAR1.5 billion (US$407.79 million)
QATAR: Islamic investment bank in Qatar accepts co-CEO’s resignation
NIGERIA: Nigerian non-interest bank’s profit before tax grows, Daily Trust reports
SAUDI ARABIA: Volume of Islamic banking finance provided by Saudi Islamic banks grows
SAUDI ARABIA: Saudi government to sell shares in Saudi Aramco, Reuters reports
SAUDI ARABIA: Saudi Central Bank seeks public consultation on draft regulations
EGYPT: Financial Regulatory Authority of Egypt issues regulation on investment robo-advisors
UAE: UAE-based Takaful company appoints new board member
MALAYSIA: Malaysia’s first Islamic digital bank becomes operational
QATAR: Qatari Islamic bank approves application for new board member
MALAYSIA: Bank Negara Malaysia issues Islamic facilities
MALAYSIA: Malaysian Islamic bank records 0.4% drop in profit before tax for Q1 2024
GLOBAL: Saudi insurer announces decrease of accumulated losses to 16.84% of capital
GLOBAL: GCC’s primary Sukuk and bond issuances grow 33% year-on-year as at Q1 2024, Kuwait Financial Centre reports
GLOBAL: GCC capital market issuances should continue to rise in 2024 and 2025 but with fragmentation across bloc, Fitch says
MALAYSIA: Islamic bank in Malaysia partners with Dutch banking tech company to implement banking platform
TURKIYE: Albaraka Turk Katilim Bankasi offers lease certificate worth TRY500 million (US$15.5 million)
SAUDI ARABIA: Saudi Central Bank seeks public consultation on updated debt-based crowdfunding rules
SAUDI ARABIA: Capital Market Authority approves Saudi investment company’s public offering of endowment fund
BAHRAIN : Islamic bank and real estate development firm collaborate to offer financing solutions to homeowners, reports The Daily Tribune
PAKISTAN : Pakistan Stock Exchange auctions government of Pakistan’s Sukuk Ijarah
MALAYSIA : Malaysian petroleum company sells three Islamic medium-term notes
OMAN : Islamic bank in Oman fully redeems Sukuk facility maturing on 22 nd May 2024
UAE : Dubai Financial Services Authority admits UAE’s treasury Sukuk to official list of securities
MALAYSIA : Securities Commission Malaysia launches five-year roadmap
SAUDI ARABIA : Saudi asset management company secures regulatory approval for business profile change
SAUDI ARABIA : Capital Market Authority of Saudi Arabia approves investment company’s capital increase request
GLOBAL : Islamic bank reinstates refinancing for UK residents and home financing for China and Hong Kong residents
BANGLADESH : Bangladeshi Islamic bank announces record amount of withdrawals for 2024, The Financial Express reports
PAKISTAN : Securities and Exchange Commission of Pakistan introduces self-assessment declaration form for nonbanking finance companies
TURKIYE : Turkish agricultural company sells Sukuk
MALAYSIA : Bank Negara Malaysia issues Islamic facilities
TURKIYE : Kuveyt Turk Katilim Bankasi raises TRY500 million (US$15.52 million) through Sukuk
TURKIYE : Turkiye Emlak Katilim Bankasi launches Islamic facility
MALAYSIA : Regulator to launch new five-year roadmap on Malaysian capital market
PAKISTAN : Regulator unveils 2023 book on non-banking financial institutions and Modaraba in Pakistan
INDIA : NSE Indices replaces stocks in Nifty Shariah indices
AZERBAIJAN : IsDB interested in issuing Sukuk in local currency with Azerbaijani banks, ABC.AZ reports
UK : UK-headquartered market intermediary firm partners with core banking provider to offer Shariah compliant fintech solution
OMAN : Omani law firm collaborates with Islamic finance consultancy firm
Emirates Islamic’s Sukuk: Tapping the green Sukuk market
Tuesday, 28 May 2024 | Volume21.Issue22
RHB Islamic Bank’s Sukuk: A return to market
Tuesday, 21 May 2024 | Volume21.Issue21
QI Group launches RM100 million (US$20.91 million) Sukuk Ijarah to support the growth of education
Monday, 20 May 2024 | Awards Report 2023
Rawabi Holding Company’s Sukuk: A record issuance
Tuesday, 14 May 2024 | Volume21.Issue20
WLF 4.1’s financing: Walton Global’s first Shariah compliant facility
Tuesday, 07 May 2024 | Volume21.Issue19
Golden Global Yatirim Bankasi’s Sukuk: Debut international issuance
Tuesday, 30 Apr 2024 | Volume21.Issue18
Olam Agri’s financing: Diversifying funding sources
Tuesday, 23 Apr 2024 | Volume21.Issue17
KLCCP’s Sukuk: Funding acquisitions and investments
Tuesday, 16 Apr 2024 | Volume21.Issue16
Malaysia Rail Link’s Sukuk: Landmark deal for Malaysian transport industry
Monday, 08 Apr 2024 | Volume21.Issue15
Al Seer Marine and BGN’s syndicated facility: Supporting the marine sector
Tuesday, 02 Apr 2024 | Volume21.Issue14
Public Investment Fund’s Sukuk: Sophomore issuance
Tuesday, 26 Mar 2024 | Volume21.Issue13
alrajhi bank’s Sukuk: Supporting sustainability
Tuesday, 19 Mar 2024 | Volume21.Issue12
Dubai Islamic Bank’s Sukuk: A notable sustainable facility
Tuesday, 12 Mar 2024 | Volume21.Issue11
Cenomi Centers’s Sukuk: Tapping Islamic finance
Tuesday, 05 Mar 2024 | Volume21.Issue10
Binghatti’s Sukuk: Landmark issuance from UAE’s real estate sector
Tuesday, 27 Feb 2024 | Volume21.Issue09
ICD’s Sukuk: Funding projects in member countries
Tuesday, 20 Feb 2024 | Volume21.Issue08
Omantel’s Sukuk: Landmark issuance for telecom industry
Tuesday, 13 Feb 2024 | Volume21.Issue07
DAMAC Real Estate Development’s Sukuk: A successful addition
Tuesday, 06 Feb 2024 | Volume21.Issue06
UOB Malaysia’s Sukuk: A successful debut issuance
Thursday, 25 Jan 2024 | Volume21.Issue05
Kuwait Finance House’s Sukuk: Inaugural issuance under new program
Tuesday, 23 Jan 2024 | Volume21.Issue04
First Abu Dhabi Bank’s Sukuk: Opening the market
Tuesday, 16 Jan 2024 | Volume21.Issue03
Oman’s Sovereign Sukuk: Successful seventh issue
Tuesday, 09 Jan 2024 | Volume21.Issue02
iTrust Finance’s Sukuk: Successful 8th issuance
Tuesday, 02 Jan 2024 | Volume21.Issue01
Pakistan’s sovereign Sukuk: First issuance on the exchange
Tuesday, 12 Dec 2023 | Volume20.Issue50
The Philippines’s sovereign Sukuk: A successful debut
Friday, 01 Dec 2023 | Volume20.Issue49
South Africa’s sovereign Sukuk: Inaugural domestic issuance
Tuesday, 28 Nov 2023 | Volume20.Issue48
Qatar Islamic Bank’s Sukuk: Returning to the international market
Tuesday, 21 Nov 2023 | Volume20.Issue47
Ziraat Katilim Bankasi’s Sukuk: A milestone facility
Tuesday, 14 Nov 2023 | Volume20.Issue46
IsDB’s Sukuk: Funding sustainable development in member countries
Tuesday, 07 Nov 2023 | Volume20.Issue45
SMJ’s Sukuk: A successful debut issuance
Tuesday, 31 Oct 2023 | Volume20.Issue44
Public Investment Fund’s Sukuk: A notable first
Tuesday, 24 Oct 2023 | Volume20.Issue43
Nigeria’s Sukuk: Successful sixth offering
Tuesday, 17 Oct 2023 | Volume20.Issue42
OKI Pulp & Paper Mills’s Sukuk: Refinancing debt
Tuesday, 10 Oct 2023 | Volume20.Issue41
Energy Development Oman’s Sukuk: A successful first
Tuesday, 03 Oct 2023 | Awards Report 2023
Sharjah’s Sukuk: A successful return
Tuesday, 26 Sep 2023 | Volume20.Issue39
Agha Steel Industries’s Sukuk: A strategy for existing debt
Tuesday, 19 Sep 2023 | Volume20.Issue38
National Electric Power Company’s Sukuk: Supporting Jordan’s oil and gas sector
Tuesday, 12 Sep 2023 | Volume20.Issue37
Sime Darby Property’s land acquisition Sukuk: A debut sustainability issuance
Tuesday, 05 Sep 2023 | Volume20.Issue36
UAE’s third treasury Sukuk: Strengthening the market
Tuesday, 29 Aug 2023 | Volume20.Issue35
Unicol’s financing: Facilitating acquisition plans
Tuesday, 22 Aug 2023 | Volume20.Issue34
Almarai Company’s Sukuk: A sophomore success
Tuesday, 15 Aug 2023 | Volume20.Issue33
Kuwait Projects Company (Holding)’s Sukuk: A first in the emirate
Tuesday, 08 Aug 2023 | Volume20.Issue32
Sobha Realty’s Sukuk: Debut Islamic issuance
Tuesday, 01 Aug 2023 | Awards Report 2023
Altinmarka Group’s Sukuk: A successful return to market
Tuesday, 25 Jul 2023 | Volume20.Issue30
ICD’s Sukuk: A milestone for Kazakhstan
Tuesday, 18 Jul 2023 | Awards Report 2023
Intercascade Group’s Sukuk: First in Kyrgyzstan
Tuesday, 11 Jul 2023 | Volume20.Issue28
Saudi Real Estate Refinance Company’s Sukuk: Return to market
Tuesday, 04 Jul 2023 | Volume20.Issue27
MB Holding’s Sukuk: A return to market
Tuesday, 27 Jun 2023 | Volume20.Issue26
Medtech Diagnostics’s Sukuk: A milestone for the Maldives
Tuesday, 20 Jun 2023 | Volume20.Issue25
Banque Saudi Fransi’s Sukuk: Funding franchise growth
Tuesday, 13 Jun 2023 | Volume20.Issue24
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Tax Implications of Islamic Finance Instruments in the UAE
Islamic finance.
Islamic finance, also known as Shari’ah-compliant financing, is a financial system that operates in accordance with Islamic law. It adheres to fundamental principles such as the prohibition of interest, fair and transparent dealings with avoidance of speculation and uncertainty, real economic activity with underlying assets, and ethical investments.
Key Differences Between Green Bonds & Sukuk
One element of Islamic finance are sukuk, financial certificates that comply with Islamic Shari’ah law and provide investors with partial ownership of the issuer's assets. The basic principle behind sukuk is that the holder has an undivided ownership right in a particular asset and is therefore entitled to the return generated by that asset. It might be useful to compare sukuk to green bonds, where governments and companies issue bonds to raise capital for eco-friendly initiatives. These financial instruments are purchased by investors who want to fund projects aimed at environmental reform while generating returns.
Green bonds are typically fixed income. The issuer raises a fixed amount of capital from investors over a set period, repaying the capital when the bonds mature and paying an agreed amount of interest along the way.
Green bonds and sukuk offer various benefits focused on addressing climate change. By financing sustainable projects, they allow individuals and organizations to contribute actively to achieving the UN's Sustainable Development Goals (SDGs), in line with COP28 goals.
Investing in green bonds and sukuk is helping Gulf Cooperation Council Countries strengthen their reputation for environmental responsibility and building trust.
With corporate tax effective from 01 June 2023, there are corporate tax considerations which need evaluation.
Impact of Corporate Tax – UAE
From investors’ perspectives.
A . Taxability of income from Islamic Financial Instruments
- In case of individuals (including non-residents): As per Cabinet Decision No. 49 of 2023, individuals earning personal investment income (which shall include income from Islamic financial instruments) shall not be subject to the UAE Corporate Tax.
- In case of taxable persons (other than individuals): Income from Islamic financial instruments shall be subject to the UAE Corporate income tax at the rate of 9%.
B. Withholding tax implications (if any)
- There is no withholding tax rate (as of date of this article) on payment of returns made to investors of Islamic Financial Instruments.
From Issuers’ perspectives
1. Taxability of business
- Islamic finance business operations will be subject to corporate income tax at 9% for their first tax period that commences after 30 June 2023.
2. Deductibility of payments of returns made to investors of Islamic Financial Instruments
- It is imperative to evaluate whether the payment of returns shall draw contour from interest, or any other term as defined under the Federal Decree-Law No. 47 of 2022 on the ‘Taxation of Corporations and Businesses’ (hereinafter referred to as the ‘UAE Corporate Tax Law’).
- It is pertinent to note that the definition of interest has been enunciated under Article 1 of the UAE Corporate Tax Law as: Any amount accrued or paid for the use of money or credit, including discounts, premiums and profit paid in respect of an Islamic financial instrument and other payments economically equivalent to interest, and other amounts incurred in connection with the raising of finance, excluding payments of the principal amount.
- On perusal of the above, it may be inferred that payment of returns made to investors of Islamic Financial Instruments is a form of consideration paid in connection with raising of finance and shall fall within the ambit of ‘interest’ payment as defined under Article 1 of the UAE Corporate Tax Law.
- Further, under Article 4 of the Ministerial Decision No. 126, it has been stated that ' the interest equivalent component on Islamic Financial Instruments shall be treated as Interest for the purposes of the General Interest Deduction Limitation Rule’ .
Accordingly, the payment of returns for Islamic Financial Instruments shall be deductible up to 30% of the Earnings Before the deduction of Interest, Tax, Depreciation and Amortisation (EBITDA) in the hands of issuing entity as per General Interest Deduction Limitation Rule under Article 30 of the UAE Corporate Tax Law. However, the above limitation shall be subject to De Minimis threshold of AED 12 million as laid under Article 8 of the Ministerial Decision No. 126 (i.e., no disallowance shall be made until the payment of returns does not exceed AED 12 million).
It is pertinent to note that 30% cap will not be applicable in case Banks are issuing such instruments.
As businesses navigate the complexities of UAE corporate tax provisions, a clear understanding of key definitions and regulations becomes vital. Delving into the meanings of terms like interest and Islamic financial instruments, as well as shedding light on the treatment of interest components will equip businesses with valuable insights to navigate the UAE tax landscape confidently.
Zayd Maniar
International Liaison Partner
Zayd Maniar is an International Liaison Partner with Crowe UAE and part of the UAE Management Team. Zayd Maniar is a Chartered Accountant and has almost 20 years’ experience in providing Audit and Assurance services in the UK and UAE.
Rakesh Nair
Rakesh is a Director with the Corporate tax practice of Crowe UAE. Rakesh is a Chartered Accountant with more than 10 years of experience in corporate tax, International Tax and Transaction Tax matters catering to a number of industry verticals.
Chartered Accountant
Karan Vora is Chartered Accountant with focused oriented on auditing under IFRS, Taxation and Due Diligence with more than 9 years of experience. He has experience in Transfer Pricing and International Taxation, Conduction Risk base Audits (RBAs), Valuation of Intangibles, Financial due diligence for Tax and Regulatory matters.
Punyapal Shah
Punyapal Shah is a Chartered Accountant with more than 13 years of experience in handling complex audits for manufacturing , automobiles and textiles industries. He has experience in international and Corporate Tax matters as well.
Islamic Financial Ethics and Customer Loyalty in the Islamic Finance Industry: A Review of Literature and Future Directions
- First Online: 29 May 2024
Cite this chapter
- Alia Tuqan 3 ,
- Islam Abdeljawad ORCID: orcid.org/0000-0003-2625-698X 3 &
- Intesar Saleem 3
Part of the book series: Studies in Systems, Decision and Control ((SSDC,volume 528))
In this paper, a review of the literature was done to look at how Islamic financial ethics affect customer loyalty in the Islamic finance industry. The review included articles from leading finance and management journals. Several themes emerged from the review, including the perception of Islamic finance as being more ethical and socially responsible compared to traditional finance and the potential influence of the risk-sharing and profit-loss-sharing structures of Islamic finance on customer loyalty. Based on these findings, research gaps were developed to guide future research on the topic. It is recommended that future studies consider the complexity of the relationship between Islamic financial ethics and customer loyalty and examine the specific mechanisms through which ethical values may affect customer loyalty. The review also highlights the importance of considering the specificity of the context and characteristics of the products and services offered in the Islamic finance industry, as well as the characteristics of the customers, in understanding the relationship between Islamic financial ethics and customer loyalty.
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Tuqan, A., Abdeljawad, I., Saleem, I. (2024). Islamic Financial Ethics and Customer Loyalty in the Islamic Finance Industry: A Review of Literature and Future Directions. In: Musleh Al-Sartawi, A.M.A., Nour, A.I. (eds) Artificial Intelligence and Economic Sustainability in the Era of Industrial Revolution 5.0. Studies in Systems, Decision and Control, vol 528. Springer, Cham. https://doi.org/10.1007/978-3-031-56586-1_69
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Case Studies in Islamic Banking and Finance is a pioneering resource that provides practical insights into the real world of Islamic financial transactions, and illustrates the complexities of this rapidly growing mode of modern finance. Based around 12 individual cases, the book stimulates discussion and develops the reader's understanding of Islamic finance by contrasting the theoretical ...
An Overview of Islamic Finance1 Prepared by Mumtaz Hussain, Asghar Shahmoradi, and Rima Turk Authorized for distribution by Zeine Zeidane June 2015 Abstract Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent
1. Introduction. Islamic finance is currently a multi-billion dollar industry and has the potential to grow considerably bigger. In a review of a book on Islamic wealth management, Adam Ng notes that 'the number of affluent or high net worth individual Muslims [is] projected to increase from half a million to approximately 12 million by 2030'. 1 Moreover, citing information from the ...
Case Studies in Islamic Banking and Finance is a pioneering resource that provides practical insights into the real world of Islamic financial transactions, and illustrates the complexities of this rapidly growing mode of modern finance.. Based around 12 individual cases, the book stimulates discussion and develops the reader's understanding of Islamic finance by contrasting the theoretical ...
Slightly different from them, the study of Jouti explores an integrated approach to build a sustainable Islamic social finance ecosystem where he uses literature review and case studies as well. However, Ahmed et al. ( 2015 ) tried to explore the role of Islamic finance on sustainable development goals by employing historical and theoretical ...
August 10, 2023. This report covers selected case studies in the Islamic finance and social finance ecosystem in Malaysia and Indonesia. These case studies document eco-building requirements and innovative solutions which were able to strengthen the two systems' effectiveness, coverage and transparency - particularly in its integration with ...
Source: Islamic Finance Case Studies Focus Group Discussion (2022) The potential for zakat in Indonesia according to BAZNAS (Indonesian Zakat Authority) data for 2021 is USD14.6. million (IDR217 ...
Authors: Nafis Alam, Lokesh Gupta, Bala Shanmugam. Provides a comprehensive and practical guide to Islamic finance. Covers a broad range of important topics in Islamic finance and banking including Islamic capital markets, Takaful, wealth management, compliance and governance issues. Features case studies based on the authors own experiences ...
Islamic banking and finance are among the participants in the financial markets, and they face the same risks as the conventional banking system. However, because Islamic banking and finance employ shariah principles and different underlying contracts from their counterparts, they face additional risks (Sari et al. 2022; Helmy 2012). The other ...
1st Edition. Case Studies in Islamic Banking and Finance is a pioneering resource that provides practical insights into the real world of Islamic financial transactions, and illustrates the complexities of this rapidly growing mode of modern finance. Based around 12 individual cases, the book stimulates discussion and develops the reader's ...
Challenges Facing Islamic Banking (Final Complete) Data. Jul 2016. Philip Molyneux. Munawar Iqbal. PDF | On Dec 24, 2019, Abdul Basit Shamim published Case Studies in Islamic Banking and Finance ...
This study curated the data from the Scopus database, a well-known and comprehensive database covering various social disciplines including business and finance fields (Guckenbiehl et al., 2021).Alshater et al. (2020) state that the Scopus database contains a greater number of Islamic finance research than other databases such as Web of Science, while it also indexes more well-validated ...
Case Studies in Islamic Banking and Finance is a pioneering resource that provides practical insights into the real world of Islamic financial transactions, and illustrates the complexities of this rapidly growing mode of modern finance. Based around 12 individual cases, the book stimulates discussion and develops the readers understanding of Islamic finance by contrasting the theoretical ...
Case Study 4.1.The Mudaraba Contract as a mode of Islamic Finance. Case Study 4.2.The Mudaraba contracts with multiple financing options. Case Study 5. Murabaha, Musharaka, Ijara and Ijara Wa-Iktina. Case Study 6. Islamic Mortgages for Home Finance. Case Study 7. Sources of Finance for Islamic Banks: An Application of Profit and Loss Sharing ...
Islamic banking differs from conventional banking in several ways. Unlike conventional banks that operate on the basis of borrowing and lending with pre-specified interest rates, Islamic banks are funded by current accounts that do not attract interest or by profit-sharing investment accounts (PSIA) where the account holder receives a return that is determined ex-post by the profitability of ...
Using case study materials and techniques, learners are encouraged to grasp the principles, highlight and analyse the issues, identify relevant constraints and variables to formulate structures, policy, strategy, and solutions to pertinent issues. The case in context discussion would vary from banking, capital markets, takaful and social ...
It examines current practices in the Islamic finance industry as a whole and IFIs, by analysing existing financial products and innovation in the market against the framework that has been outlined in the earlier chapters. ... Case Study: Analysis of Selected Shariah Compliant Financial Products. In: Financial Innovation and Engineering in ...
This chapter contains sections titled: Learning Outcomes. Role of Ijara in Islamic Finance. The Ijara Contract as a Mode of Islamic Finance. Appendix: Ijara Fatwa. Case Study Questions.
In simple word, the ijarah or rent or lease based. Islamic Financing (IF) model transfers share of the. property over time through repayment/instalment. of the money customer borr ow from Islamic ...
QI Group launches RM100 million (US$20.91 million) Sukuk Ijarah to support the growth of education. Monday, 20 May 2024 | Awards Report 2023. Case Studies.
This paper discusses the standardization debate in Islamic finance. 'Islamic' structured products particularly Wa'dbased total return swaps are used as a - case study to discuss the importance of standardization.The growth of the Islamic finance industry has been hampered by the lack of consensus (ijma`)
1. Taxability of business. Islamic finance business operations will be subject to corporate income tax at 9% for their first tax period that commences after 30 June 2023. 2. Deductibility of payments of returns made to investors of Islamic Financial Instruments. It is imperative to evaluate whether the payment of returns shall draw contour from ...
Other studies have recognized different variables that could impact customer loyalty in Islamic finance. One study in Pakistan determined that trust, ... (SQ) in Islamic banks: a case study in Kuwait finance house. Int. J. Islam. Financ. Serv. 3, 1-26 (2001) Google Scholar Ramdhani, M.A., Ramdhani, A., Kurniati, D.M.: The ...
The International Journal of Finance & Economics is a leading economics and finance journal that publishes issues in finance which impact ... (ESG) products. In the literature on sustainable investing, most studies have focused on developed markets, and there are relatively few studies that have concentrated on emerging markets. To fill this ...