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Islamic Capital Markets: The Structure, Formation and Management of Sukuk [Hardback]

(La Trobe University, Australia), , , ,
  • Formāts: Hardback, 14 pages, height x width: 216x138 mm, weight: 213 g, 3 Tables, black and white; 17 Line drawings, black and white; 2 Halftones, black and white; 19 Illustrations, black and white
  • Sērija : Islamic Business and Finance Series
  • Izdošanas datums: 17-Jan-2022
  • Izdevniecība: Routledge
  • ISBN-10: 1032153504
  • ISBN-13: 9781032153506
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  • Hardback
  • Cena: 70,31 €
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Islamic Capital Markets: The Structure, Formation and Management of SukukPalielināt
  • Formāts: Hardback, 14 pages, height x width: 216x138 mm, weight: 213 g, 3 Tables, black and white; 17 Line drawings, black and white; 2 Halftones, black and white; 19 Illustrations, black and white
  • Sērija : Islamic Business and Finance Series
  • Izdošanas datums: 17-Jan-2022
  • Izdevniecība: Routledge
  • ISBN-10: 1032153504
  • ISBN-13: 9781032153506
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9781032153506.html
Keywords:
"This book offers a unique, in-depth, and up-to-date overview of Islamic banking and finance, capital markets and sukuks at the grass-roots level. It deals with one of the most potent and increasingly popular financial instruments. It defines and explores the differences between conventional and sukuk bonds and also examines the integration of sukuk in various country contexts and both Muslim and Non-Muslim economies. The book consists of five core topics. Firstly, it describes the evolution of the Islamic finance industry and capital markets; secondly, it discusses the basic features and instruments of Islamic Banking; and thirdly, it illustrates the current state of capital markets and Islamic finance. The book then examines the development of Sukuk inIslamic Capital Markets and Shariah perspectives, and finally, briefly discusses the structure of Sukuks and its development in the context of Pakistan. In a nutshell, this book provides a basic understanding of Islamic financial instruments, their implementation in different regions and their points of differentiation from conventional modes of finance, therefore, it will be a useful addition to the literature for scholars, researchers and students of Islamic banking and finance"--

This book offers a unique, in-depth, and up-to-date overview of Islamic banking and finance, capital markets and sukuks at the grass-roots level. It defines and explores the differences between conventional and sukuk bonds and also examines the integration of sukuk in various country contexts and both Muslim and non-Muslim economies.

List of figures
viii
Authors' Biography ix
Foreword xi
Preface xiii
1 Evolution of Islamic Financial & Capital Market
1(8)
Introduction
1(1)
Islamic Banking and Financing
1(2)
Basic Features and Instruments
3(2)
Musharakah
4(1)
Mudarabah
4(1)
Murabahah
4(1)
Fjarah
4(1)
Salam
5(1)
Takaful
5(1)
Sukuk
5(1)
Islamic Finance in Capital Markets
5(1)
Islamic Capital Markets Today
6(3)
2 Development of Sukuk in Islamic Capital Markets
9(11)
Introduction
9(1)
Sukuk in Islamic Capital Markets
9(2)
Historical Perspective
9(2)
Recent History of Sukuk in Islamic Capital Markets
11(1)
Sukuk Development in Different Countries
12(2)
Sukuk in Non-Muslim Countries
14(1)
Conventional Bond Market
15(5)
Sukuk Market
16(4)
3 Differentiating Between Conventional Bonds and Sukuks
20(8)
Introduction
20(1)
Financial Bonds
20(1)
Features of Financial Bonds
21(1)
Types of Conventional Bonds
22(1)
Conventional Bonds and Sukuks
23(2)
Risks in Sukuk
25(3)
Rate of Return Risk
25(1)
Risk of Loss of Asset
25(1)
Foreign Exchange-Rate Risks
25(1)
Credit Risk
25(1)
Default Risk
26(1)
Shariah Compliance Risk
26(1)
Liquidity Risk
26(2)
4 Shariah Perspective on Sukuk
28(8)
Introduction
28(1)
Key Characteristics of Sukuk
28(1)
Shariah Perspectives
29(2)
Shariah Critical Points in Sukuk
31(2)
Beneficial Ownership in Asset-Based Sukuk
32(1)
Recourse to the Underlying Assets in Sukuk
32(1)
Foregoing One's Rights (Tanazul)
32(1)
Purchase Undertaking (Wa'ad)
32(1)
Rebate (Ibra') in Sale-Based Sukuk
32(1)
Liquidity Facility in the Event of a Shortfall in Musharakah Sukuk
32(1)
Tradability of Sale-Based Sukuk
33(1)
Portfolio of Asset as Sukuk Underlying Asset
33(1)
Shariah Critique on Sukuk Structures
33(3)
5 Common Structures of Sukuk
36(12)
Introduction
36(1)
AAOIFI-Proposed Common Structures of Sukuk
36(9)
Sukuk Al-Ijarah (Lease-Based Sukuks)
36(3)
Sukuk Al-Salam
39(1)
Sukuk Al-Murabaha
40(1)
Sukuk Al-Musharakah
41(2)
Sukuk Al-Mudarabah
43(1)
Sukuk Al-Istisna
44(1)
Conclusion
45(3)
6 Sukuk Development in Pakistan
48(10)
Introduction
48(1)
Islamic Financing in Pakistan
48(3)
Overview
48(1)
Islamic Banking Department
49(1)
Operations
50(1)
Current Facts and Figures
51(1)
Sukuk Development in Pakistan
51(3)
History
51(2)
Current Situation and Recent Developments
53(1)
Opportunities for Sukuk in Pakistan's Capital Markets
54(2)
Barriers to Sukuk Development in Pakistan
55(1)
Conclusion
56(2)
7 Growing Opportunities in the Sukuk Markets
58(8)
Introduction
58(1)
An Opportunistic Assessment for Sukuks
58(2)
Project-Based Sukuks
59(1)
Balance Sheet-Specific Sukuks
59(1)
Asset-Based Sukuks
59(1)
Global Indications
60(2)
Factual Forecasts
62(1)
Prospects
63(1)
Recommendations for Future Studies
64(2)
Index 66
Imam Uddin, Ph.D., is an associate professor in the Department of Accounting and Finance at the Institute of Business Management (IoBM), Karachi, Pakistan.

Rabia Sabri is a senior lecturer and HoD at the Institute of Business Management (IoBM), Karachi, Pakistan.

M. Ishaq Bhatti is a professor of finance and financial econometrics and the founding director of the Islamic Banking and Finance Programme at La Trobe University, Australia.

Muhammad Omer Rafique is an Islamic finance Shariah scholar with half a decade of experience in teaching and research.

Muhammad AsadUllah is a senior lecturer at College of Economic & Social Development (CESD), Institute of Business Management (IoBM), Karachi, Pakistan.