Small asset size of Islamic financial institutions (IFIs) is often cited as an obstacle for further growth. Looking at the motivating factors behind consolidation wave in conventional financial markets, this paper argues that IFIs can also benefit from consolidation in several ways. Expanding...

This publication provides a comprehensive overview of topics related to the assessment, analysis, and management of various types of risks in the field of Islamic banking. It is an attempt to provide a high-level framework (aimed at non-specialist executives) attuned to the current realities of...

This report was prepared as part of the World Bank engagement in the Philippines to support Islamic Finance and Financial Inclusion. It provides an overview on the context for the development of Islamic finance in the Philippines and is accompanied by two focused reports providing further detail...

In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...

For a long time, microfinance was considered an appropriate tool to accomplish social and financial goals simultaneously. Over time microfinance has become more commercialized, transforming into a financially efficient industry, allowing more customers to have access to more sophisticated...

Ṣukūk is a relatively young market and it is important to know all the intricacies of this structured market. It is critical that one has to distinguish between the theory behind ṣukūk and the current practice of Ṣukūk