By Amr Mohamed El Tiby Ahmed
A close examine the fast-growing box of Islamic finance and banking
The guideline of Islamic finance has existed all through Islamic heritage, but glossy Islamic banking has been round for a comparatively brief time period. writer Amr Mohamed El Tiby is knowledgeable during this box, and with this new ebook, he unearths how one can enjoy the use of Islamic banking concepts on your monetary endeavors.
Engaging and available, Islamic Banking exhibits the impression this method has made on traditional banking because the Nineteen Fifties, and why it really is one of these monstrous participant within the present marketplace. It deals a different examine points of this box, together with the salient beneficial properties of Islamic banking that distinguishes it from non-Islamic banking, the improvement of the regulatory our bodies and supervisory businesses that help the Islamic banking procedure, and lots more and plenty extra. It additionally explores the character of threat in Islamic banking and the problems of capital adequacy, company governance, transparency, and threat linked to Islamic banking.
- Discusses the heritage and improvement of Islamic finance
- Offers basic thoughts for enforcing Islamic finance into your enterprise activities
- Sheds mild at the impression of the worldwide fiscal quandary on Islamic banks as opposed to traditional banks
Filled with in-depth insights and specialist recommendation, this specified research of Islamic finance can assist you achieve a company figuring out of the way powerful this confirmed strategy can be.
Read or Download Islamic Banking: How to Manage Risk and Improve Profitability PDF
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Extra resources for Islamic Banking: How to Manage Risk and Improve Profitability
He decided that all banks must operate according to shari’ah rules. In 1984, the government issued the civil administrative act that prohibited the use of interest across the whole economy. In 1985, upon the collapse of the government of Numeiri, there was a hostile attitude toward Islamic activities, and many banks reverted to the conventional practices while the others were operating under great pressure (Bashir 1999). It was not until 1989, when the 22 UNDERSTANDING THE ORIGINS military overthrew the government, that the whole economy was transferred to comply with shari’ah.
Meenai 1989) This period also witnessed the establishment of several Islamic banks in the Arab world: Nasser Social Bank in Egypt in 1971; Dubai Islamic Bank, established in Dubai, United Arab Emirates, in 1975 by a group of businessmen from several countries as the ﬁrst private Islamic bank in the world; Faisal Islamic Bank in Egypt in 1977; and Faisal Islamic Bank in Sudan in 1977—both as private banks. In 1977, the government of Kuwait set up the Kuwait Finance House. The second period, which spanned from 1977 until 2002, was fueled by the sharp increase in oil prices that brought large wealth to the Middle East and the spread of Islamic banks across the Islamic and non-Islamic countries.
The objectives of these principles are to ensure that Islamic banks comply with the shari’ah rules, particularly the prohibition of interest, apply shari’ah compliant risk mitigation techniques, and complement the Basel Committee on Banking Supervision’s guidelines on risk management to cater to the speciﬁc needs and unique nature of the risks facing Islamic ﬁnancial institutions. 0: IIFS shall have in place a comprehensive risk management and reporting process, including appropriate board and senior management oversight, to identify, measure, monitor, report and control relevant categories of risk and, where appropriate, to hold adequate capital against these risks.