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What’s in it for Me? A Primeron Differences between Islamic and Conventional Finance in Malaysia
Krasicka, Olga; Nowak, Sylwia - International Monetary Fund (IMF) - 2012
What attracts conventional investors to Islamic financial instruments? We answer this question by comparing Malaysian Islamic and conventional security prices and their response to macrofinancial factors. Our analysis suggests that Islamic and conventional bond and equity prices are driven by...
Persistent link: https://www.econbiz.de/10011142164
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Competition in the Financial Sector; Overview of Competition Policies
Claessens, Stijn - International Monetary Fund (IMF) - 2009
As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests …, however, that unfettered competition is not first best given the special features of finance. I review these analytics and … describe how to assess the degree of competition in markets for financial services. Existing research shows that the degree of …
Persistent link: https://www.econbiz.de/10005826668
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Privatization and Public Enterprises
Hemming, Richard; Mansoor, Ali M. - International Monetary Fund (IMF) - 1998
Persistent link: https://www.econbiz.de/10005590918
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Islamic Finance in Sub-Saharan Africa: Status and Prospects
Gelbard, E.; Hussain, Mumtaz; Maino, Rodolfo; Mu, Yibin; … - International Monetary Fund (IMF) - 2014
Islamic finance is a fast growing activity in world markets. This paper provides a survey on Islamic Finance in SSA. Ongoing activities include Islamic banking, sukuk issuances (to finance infrastructure projects), Takaful (insurance), and microfinance. While not yet significant in most...
Persistent link: https://www.econbiz.de/10010959474
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Islamic Finance: Opportunities, Challenges, and Policy Options
Kammer, Alfred; Norat, Mohamed; Pinon, Marco; Prasad, … - International Monetary Fund (IMF) - 2015
The SDN discusses the main policy issues and challenges in building an inclusive and safe Islamic finance industry, with emphasis on Islamic banking and Sukuk markets. To this end, it discuses why Islamic finance matters, taking into account its recent and prospective growth; and, its potential...
Persistent link: https://www.econbiz.de/10011245880
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Islamic Banks and Financial Stability; An Empirical Analysis
Cihák, Martin; Hesse, Heiko - International Monetary Fund (IMF) - 2008
The relative financial strength of Islamic banks is assessed empirically based on evidence covering individual Islamic and commercial banks in 18 banking systems with a substantial presence of Islamic banking. We find that (i) small Islamic banks tend to be financially stronger than small...
Persistent link: https://www.econbiz.de/10005263779
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Sukuk vs. Eurobonds; Is there a Difference in Value-At-Risk?
Raei, Faezeh; Cakir, Selim - International Monetary Fund (IMF) - 2007
This paper assesses the impact of bonds issued according to Islamic principles (Sukuk), on the cost and risk structure of investment portfolios by using the Value-at-Risk (VaR) framework. The market for Sukuk has grown tremendously in recent years at about 45 percent a year. Sukuk provide...
Persistent link: https://www.econbiz.de/10005264017
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Operative Principles of Islamic Derivatives; Towards a Coherent Theory
Sole, Juan; Jobst, Andreas - International Monetary Fund (IMF) - 2012
Derivatives are few and far between in countries where the compatibility of financial transactions with Islamic law requires the development of shari'ah-compliant structures. Islamic finance is governed by the shari'ah, which bans speculation and gambling, and stipulates that income must be...
Persistent link: https://www.econbiz.de/10009654161
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Introducing Islamic Banks Into Coventional Banking Systems
Sole, Juan - International Monetary Fund (IMF) - 2007
Over the last decade, Islamic banking has experienced global growth rates of 10-15 percent per annum, and has been moving into an increasing number of conventional financial systems at such a rapid pace that Islamic financial institutions are present today in over 51 countries. Despite this...
Persistent link: https://www.econbiz.de/10005825653
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Islamic Financial Institutions and Products in the Global Financial System; Key Issues in Risk Management and Challenges Ahead
International Monetary Fund (IMF); International … - 2002
The provision and use of financial services and products that conform to Islamic religious principles pose special challenges for the identification, measurement, monitoring, and control of underlying risks. Effective and efficient risk management in Islamic financial institutions has assumed...
Persistent link: https://www.econbiz.de/10005768894