Corporate Governance And Stakeholders Financial Interests In Institutions Offering Islamic Financial Services

Corporate Governance and Stakeholders  Financial Interests in Institutions Offering Islamic Financial Services PDF
Author: Wafik Grais
Publisher: World Bank Publications
ISBN:
Size: 66.67 MB
Format: PDF, ePub
Category : Banks and banking
Languages : en
Pages : 30
View: 4791

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This paper focuses on the corporate governance arrangements of institutions offering Islamic financial services (IIFS) aimed at protecting stakeholders' financial interests. Many IIFS corporate governance issues are common with those of their conventional counterparts. Others are distinctive. In particular they offer unrestricted investment accounts that share risks with shareholders but without a voting right. This paper first reviews internal and external arrangements put in place by IIFS to protect stakeholders' financial interests. It discusses shortcomings notably in terms of potential conflict of interest between shareholders and holders of unrestricted investment accounts. It then suggests a corporate governance framework that combines internal and external arrangements to provide safeguards to unrestricted investment account holders without overburdening IIFS' financial performance. The paper uses a review of 13 IIFS and regulatory information from countries where IIFS have developed the most.

Corporate Governance In Institutions Offering Islamic Financial Services

Corporate Governance in Institutions Offering Islamic Financial Services PDF
Author: Wafik Grais
Publisher: World Bank Publications
ISBN:
Size: 61.27 MB
Format: PDF
Category : Banks and banking
Languages : en
Pages : 45
View: 1931

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This paper reviews institutions offering Islamic financial services (IIFS) corporate governance challenges and suggests options to address them. It first points out the importance of corporate governance for IIFS, where it would require a distinct treatment from conventional corporate governance and highlights three cases of distress of IIFS. It then dwells on prevailing corporate governance arrangements addressing IIFS' needs to ensure the consistency of their operations with Islamic finance principles and the protection of the financial interests of a stakeholders' category, namely depositors holding unrestricted investment accounts. It raises the issues of independence, confidentiality, competence, consistency, and disclosure that may bear on pronouncements of consistency with Islamic finance principles. It also discusses the agency problem of depositors holding unrestricted investment accounts. The paper argues for a governance framework that combines internal and external arrangements and relies significantly on transparency and disclosure of market relevant information.

Research In Corporate And Shari Ah Governance In The Muslim World

Research in Corporate and Shari ah Governance in the Muslim World PDF
Author: Toseef Azid
Publisher: Emerald Group Publishing
ISBN: 1789730090
Size: 51.90 MB
Format: PDF, ePub, Mobi
Category : Business & Economics
Languages : en
Pages : 456
View: 7749

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Research in Corporate and Shari'ah Governance in the Muslim World: Theory and Practice aims to address a critical disciplinary gap between Islamic theory and the practice of the corporate sector in the Muslim World. Adopting a critical approach, the book sheds light on the impact of corporate governance on the economies of the Muslim world.

The Foundations Of Islamic Banking

The Foundations of Islamic Banking PDF
Author: Mohamed Ariff
Publisher: Edward Elgar Publishing
ISBN: 1849807930
Size: 41.92 MB
Format: PDF
Category : Business & Economics
Languages : en
Pages : 296
View: 821

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After barely half a century of experience, Islamic banking has become established as a new niche industry across the world offering new and sophisticated financial products designed to be compliant with the principles of Islamic legal principles and common law. This comprehensive book explores the theory, principles and practices underpinning this rapidly expanding sector of banking. Expert contributors ¿ including eminent scholars and senior practitioners in the field ¿ examine the roots of the principles of ethical Islamic financial transactions, which have evolved over several millennia, on issuesincluding usury, interest rates, financial contracting for funding enterprises, for mortgages, for leasing and other financial transactions. Regulatory and governance issues are discussed, and the practice and operation of Islamicfinancial institutions are explained via three distinct case studies. Importantly, the final chapter looks at what steps are being taken to provide professional accreditation to Islamic banking professional personnel, and prescribes requirements for training in this growing industry.

Islamic Finance In Europe

Islamic Finance in Europe PDF
Author: Valentino Cattelan
Publisher: Edward Elgar Publishing
ISBN: 1781002517
Size: 62.26 MB
Format: PDF, ePub
Category : Business & Economics
Languages : en
Pages : 247
View: 4081

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Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different conceptions of economic justice(s) co-exist and influence each other. The contributing authors analyse key economic development and social integration issues from an Islamic perspective and outline the European approach to accommodating Islamic finance, with particular regard to the peculiarities of individual nation-states. Set in this context, the book presents financial pluralism as a device to enhance a level playing field in the global marketplace, as well as to foster a plural open society. Providing a comprehensive and methodological guide to Islamic finance in Europe, this book will prove an illuminating and informative read for academics, students and policymakers with an interest in the impact on financial regulation of an increasingly globalized world.

Corporate Governance In Islamic Financial Institutions

Corporate Governance in Islamic Financial Institutions PDF
Author: Hussein Elasrag
Publisher: Hussein Elasrag
ISBN:
Size: 29.40 MB
Format: PDF, Kindle
Category : Business & Economics
Languages : en
Pages :
View: 5523

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This book is one of few papers that highlight the importance of studying corporate governance for institutions offering Islamic financial services. The book is of value in describing governance in Islamic institutions and how there are many issues under the investigation process, especially issues related to the Shari'ah Supervisory board and its functionality. One of the objectives of this paper is to discuss, and create greater awareness of, some of the crucial issues related to corporate governance in Islamic financial institutions. A second, but in fact more important, objective is to provide, in the light of this discussion, certain essential guidelines to improve corporate governance in these institutions and thereby enable them to not only maintain their momentum of growth and international acceptance but also safeguard the interests of all stakeholders. The paper gives particular attention to the mechanisms for corporate governance, including the Board of Directors, Senior Management, shareholders, depositors, and regulatory and supervisory authorities.

Euromoney Encyclopedia Of Islamic Finance

Euromoney Encyclopedia of Islamic Finance PDF
Author: Aly Khorshid
Publisher:
ISBN:
Size: 56.39 MB
Format: PDF
Category : Finance
Languages : en
Pages : 398
View: 4369

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Edited by Aly Khorshid with 18 specialist contributors, this book is THE definitive guide to Islamic Finance. It brings you the up to date information surrounding sukuk, shariah and more.

The Macro Financing Of Natural Hazards In Developing Countries

The Macro Financing of Natural Hazards in Developing Countries PDF
Author: Olivier Mahul
Publisher:
ISBN:
Size: 32.29 MB
Format: PDF, Kindle
Category : Bank Policy
Languages : en
Pages : 26
View: 3137

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The authors propose a financial model to address the design of efficient risk financing strategies against natural disasters at the country level. It is simple enough to shed analytical light on some of the key issues but flexible and realistic enough to provide some quantitative guidance on the ex ante financing of catastrophic losses. The risk financing problem is decomposed into two steps. First, the resource gap, defined as the difference between losses and available ex-post resources (such as post-disaster aid), is identified. It determines the losses to be financed by ex ante financial instruments (reserves, catastrophe insurance, and contingent debt). Second, the cost-minimizing financial arrangements are derived from the marginal costs of the financial instruments. The model is solved through a series of graphical analyses that make this complex financial problem easier to apprehend. This model captures and explains the main impacts of financial parameters (such as insurance premium, cost of capital) on efficient risk financing structures.

Water Allocation Strategies For The Kat Basin In South Africa

Water Allocation Strategies for the Kat Basin in South Africa PDF
Author: Ariel Dinar
Publisher:
ISBN:
Size: 61.21 MB
Format: PDF, Mobi
Category : Catchment
Languages : en
Pages : 28
View: 5193

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Governments and developing agencies promote participatory approaches in solving common pool resource problems, such as in the water sector. Two main participatory approaches have been applied separately, namely negotiation and mediation. In this paper the authors apply the Role-Playing Game that is a component of the Companion Modeling approach, a negotiation procedure, and the Cooperative Game Theory (Shapley value and the Nucleolus solution concepts) that can be mirrored as a mediated mechanism to a water allocation problem in the Kat watershed in South Africa. While the absolute results of the two approaches differ, the negotiation and the cooperative game theory provide similar shares of the benefit allocated to the players from various cooperative arrangements. By evaluating the two approaches, the authors provide useful tips for future extension for both the Role-Playing Games and the Cooperative Game Theory applications.

How Are Youth Faring In The Labor Market

How are Youth Faring in the Labor Market  PDF
Author: Jean Farès
Publisher:
ISBN:
Size: 18.98 MB
Format: PDF, Mobi
Category : Electronic book
Languages : en
Pages : 31
View: 7069

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Abstract: This paper uses a new standardized micro database for a large set of developing countries to (1) describe the patterns of labor market outcomes for youth, and (2) explain the contributions of supply and demand factors to youth outcomes. The paper shows that youth face various difficulties in transitioning to work. This is reflected in their relatively higher unemployment rate, higher incidence of low paying or unpaid work, and a large share of youth who are neither working nor in school. This is especially true for young girls who are found outside the labor market, some engaged in home production. Finally, the paper also finds that cross-country estimates show that changes in the youth relative cohort size is unlikely to have a large effect on how youth are faring in the labor market.

Deposit Insurance And Banking Reform In Russia

Deposit Insurance and Banking Reform in Russia PDF
Author: Modibo Khane Camara
Publisher:
ISBN:
Size: 52.62 MB
Format: PDF, ePub
Category : Bank
Languages : en
Pages : 23
View: 7666

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The objective of this paper is not to review the pros and cons of deposit insurance systems, but to focus, rather narrowly, on the recent adoption of a deposit insurance system (DIS) in Russia, the rationale offered, and the potential impact it might have on the stability and development of the Russian banking system. An attempt is made to draw some lessons from the implementation experience in Russia. The paper starts with a brief description of the Russian DIS, followed by an overview of the banking system's structure and some observations on the sequencing followed for adopting the DIS and the political economy of its adoption. It concludes with a discussion of areas requiring attention.

Are There Lasting Impacts Of Aid To Poor Areas

Are There Lasting Impacts of Aid to Poor Areas  PDF
Author: Shaohua Chen
Publisher:
ISBN:
Size: 37.35 MB
Format: PDF, Docs
Category : Aid Effectiveness
Languages : en
Pages : 48
View: 736

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The paper revisits the site of a large, World Bank-financed, rural development program in China 10 years after it began and four years after disbursements ended. The program emphasized community participation in multi-sectoral interventions (including farming, animal husbandry, infrastructure and social services). Data were collected on 2,000 households in project and nonproject areas, spanning 10 years. A double-difference estimator of the program's impact (on top of pre-existing governmental programs) reveals sizable short-term income gains that were mostly saved. Only modest gains to mean consumption emerged in the longer term-in rough accord with the gain to permanent income. Certain types of households gained more than others. The educated poor were under-covered by the community-based selection process-greatly reducing overall impact. The main results are robust to corrections for various sources of selection bias, including village targeting and interference due to spillover effects generated by the response of local governments to the external aid.