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 … underpinning Islamic finance with a view towards developing a cohesive theory of derivatives subject to shari'ahprinciples. After …

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 common factors. Likewise, especially in recent years, Islamic banks have …

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 Sub-Saharan countries, several features make Islamic finance instruments relevant …

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 …

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 … stronger than large Islamic banks; and (iii) small Islamic banks tend to be financially stronger than large Islamic banks …

This paper assesses the impact of bonds issued according to Islamic principles (Sukuk), on the cost and risk structure … growing Islamic liquidity pool, in addition to the conventional investor base. The paper analyzes whether secondary market …

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 … practitioners remain unfamiliar with the process by which Islamic banks are introduced into a conventional system. This paper …

The provision and use of financial services and products that conform to Islamic religious principles pose special … management in Islamic financial institutions has assumed particular importance as they endeavor to cope with the challenges of … and institutional arrangements to provide an enabling operational environment for Islamic finance. The recent …

Islamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that … income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and …. This paper explains the fundamental legal principles of Islamic finance, which includes the presentation of a valuation …

This paper investigates the determinants of the pattern of Islamic bank diffusion around the world using country … oil producer are linked to the development of Islamic banking, as are economic integration with Middle Eastern countries … and proximity to Islamic financial centers. Interest rates have a negative impact on Islamic banking, reflecting the …