GROWTH OF ISLAMIC BANKING IN PAKISTAN USING AID MODEL
|
|
- Lynne Blankenship
- 5 years ago
- Views:
Transcription
1 GROWTH OF ISLAMIC BANKING IN PAKISTAN USING AID MODEL 1 Abdul Adeel, 2 Uzma Soba Khan, 3 Naveed Ahmad, 4 Hussain Ahmad 5 Muhammad Nouman Shafique 1 Purchasing Department, COMSATS Institute of Information Technology, Islamabad 2,4 Department of Business Administration, Federal Urdu University of Arts Science and Technology, Islamabad 3 Department of Business Administration, Lahore Leads University, Pakistan 5 Ph.D Scholar Preston University, Islamabad shafique.nouman@gmail.com, naveeddgk2010@gmail.com Abstract Islamic banking is developing in Pakistan rapidly like all over the world since January 1981 by the structural development made by government. Like other banking authorities Islamic banking authority keep under consideration financial stability. From last thirty years, Islamic banks are increasing in number due to high demand for the products offered by these banks according to Shirah. Now more than 200 Islamic banks provide services according to Shirah to almost 70 nations which not only include Islamic countries but also include many western countries. In Pakistan strength of Islamic bank is analysed through AID model. Key Words: Conventional Banks, Shariah Complaint, Islamic Banks, Financial stability, AID model Introduction There has been done many research work on the development of banking and finance work on the Islamic basis. Many researches have showed that purpose of Islamic banking and finance is different from the conventional banks from both socialism and capitalism view. Islamic banks run on Shirah in which interest, gambling and sale of prohibited items are not allowed. Due to strong demand of Shirah, Islamic banks are increasing in number rapidly. Now more than 200 Islamic banks provide their services to almost 70 countries which include both Muslim and non-muslim countries. Overall value of these banks asset value is more than $265 billion per anum with growth rate of 15% per anum. (Hassan & Lewis, 2007). (Hassan & Lewis, 2007) say that demand of Islamic banks is high and how these banks work different from conventional banks. In Pakistan Islamic banks are on the path of success. Many Islamic banks like Mezaan bank, Burj bank, Faysal bank, bank al Barka are increasing in their size and also their number of customer are increasing. Many commercial banks promotes Islamic product. Like other government, Pakistani government also provide basis for Islamic banking system and also provide infrastructure. Researches have showed that even at the time of financial crises Islamic banking work effectively and increasing the return on asset. Due to availability of highly protected markets, Islamic banks exploit these opportunities more effectively than conventional banks. Islamic banks in Pakistan give a very tough competition to conventional 40
2 banks. In many countries, one or two banks work and create monopoly or duopoly thus making profit for themselves. And provide purely Islamic Shirah compliance products. Now financial crises are due to conventional banking system because these banks increase shareholder wealth through interest. In practical term, Islamic bank is different from conventional banks and the main difference between both banks is interest. Due to more regulatory advantage of Islamic banking products against conventional banking product, Islamic banks get better position in both qualitative and in quantitative term. Research objectives Purpose of this study is to look in to growth of Islamic banking in Pakistan based on Shirah. Than analysed the result in term of its profits, market share and on deposits. Problem statement In Islam, profit earning is allowed and considered as a lawful activity. This study is considered to study whether IB are growing in Pakistan or not? For this purpose three variables are taken under consideration. Literature Review We study performance of the banks on the basis of return on assets in both Islamic and conventional banks, than the results are mixed. Islamic banking are developing more rapidly because of many factor which include liberalization of financial regulation, globalization of financial institute, change in technology, innovation inn products. Product innovations helped Islamic scholar to develop new products in Islamic banks and also in insurance. It is estimated that Islamic banks have almost $250 to $800 billion worth of assets. And almost 300 Islamic banks exist in the worldwide. Islamic bond is increasing in its value to the value of $30 billion. In Malaysia and in Pakistan value of Islamic product gained over 50% share of overall market share. According to (IMF Survey Magazine, 2010) many Islamic banks are work more effectively than conventional banks. However, when the economic crises arise Islamic banks are effected more than conventional banks. According to (El-Gamal, 2006), Islamic banks are increasing in number due to awareness among Muslims. A lot of researches have been conducted on the religious point of view. From the mid of 20 century concept of Islamic finance and economist is included in the literature. For this purpose many scholars from Pakistan and India have work on this and influence Arab scholars. According to Ayyub 2007 Islamic finance give a different concept in which there prohibition of interest. (Hassan and Lewis, 2007) say that Islamic banks don t effected by socialism or capitalism society. According to (Ayyub 2007), will Islamic economics and finance provide alternatives to the world at a large scale? (Hassan and Lewis, 2007) say that many people in the world are trying to understand the concept and operations of Islamic banking and finance. However the matter of IB is still in ambiguity. There are various information found relevant to Islamic banking and finance. As under Islam, there is prohibition of ribah so Islamic banks have to introduce their product and services which are according to Islamic teaching. There are many product introduced which are in accordance with strict orders of Islamic shirah like Islamic bond (sukak) (Ali and Ali, 1994). Islamic banking and finance is based on ethics and justice as compared to modern economics. Modern economics is based on just profit maximizing without keeping under consideration moral values. In conventional banking, investors are assured that they will 41
3 receive a pre-fixed amount without considering what will happen with their investment, where they are spend. (Lewis and Algaoud, (2001) and Iqbal & Llewellyn, 2002). Al-Salem (2008) say that in conventional banks many activities which are prohibited in Islam and also not well on ethical basis like gambling is allowed. (Rahman, 2010) say that Islamic banking is based on profit / loss sharing bases which is more acceptable, justifiable and profitable way of doing business. With use of this system one party cannot enjoy profit on the loss of other party. Now economies almost based on interest. According to Khan and Bhatti (2008), main purpose of investment is to share profit and loss and there is predetermined profit. According to Parekh, Benaissa and Wiegand (2005), say that if look in to present scenario than we can realize that Islamic banks are increasing on a tremendous manner and earn a large amount of profits. Following three aspect effect on Islamic banking performance. A. Shape Of Market Factor which impact is include customers profitability, demand for the particular product, labour cost and competition. B. Business Shape Business shape also impact, banks which offer its services to retail customers are in more benefit than banks which offer their services to corporate sector. C. Stipulation Of Islamic Banking There are different demand structure in different markets for different customers. It is said that Islamic banks charge a fee which they treat as a transaction cost as said by Salem (2008). But some scholar say that banks cannot charge fee but if banks do not charge fee then they will became a charity institute. Conclusion 1. Suggestions offered throughout this paper be given proper attention for implementation to ensure a sound foundation of IBIs in Pakistan. 2. Differentiated products be developed. Some Islamic Banks have taken correct initiatives in this respect. This areas needs to be logistically well cushioned with demonstrated results. 3. Islamic Banks must show growth with profitability. The top management must evolve the process to translate the above challenges ,000 people are needed in the next five years to equip Islamic Banks. In this respect, Universities in Pakistan must respond to this challenge. Curricula must be changed in management education. Higher Education Commission should provide motivation in this respect for Universities to positively respond. 5. Shariah compliant financial services be expanded. Awareness be created in this respect and logistics be developed as cushion to achieve the above objective. 6. The scope of services for users may be extended to such areas as micro finance, agriculture and small & medium enterprises. This will widen the base of socioeconomic development in our country and will address to the two vital issues in our country namely, promotion of self-employment opportunities and alleviation of poverty. Reference Ali, S.N., Ali, N.N., 1994, Information Sources on Islamic Banking and Economics: , Kegan Paul International, London. 42
4 Aggarwal. K Rajesh and Yousef. T, (2000) Islamic Banks and Investment Financing, Journal of Money, Credit and Banking, Vol. 32, No. 1 (Feb., 2000), pp , Blackwell Publishing Stable. Ayub. M, (2007), Understanding Islamic Finance, Wiley finance series, John Wiley & Sons Ltd, England (2007). Benaissa. E Nasr, Parekh, Mayank. P, and Wiegand, M (2005), A growth model for Islamic banking: As competition grows, incumbents must work harder to remain distinctive, Mckinsey Quarterly (October, 2005) Web Link: El-Bdour, R., (1984), "The Islamic economic system: a theoretical and empirical analysis of money and banking in the Islamic economic framework", PhD dissertation, Utah State University. Erol, C., El-Bdour, R.(1989), Attitudes, behavior and patronage factors of bank customers towards Islamic banks, International Journal of Bank Marketing (1989). Erol, C., Kaynak, E., El-Bdour, R (1990), Conventional and Islamic banks: patronage behaviour of Jordanian customers, International Journal of Bank Marketing, (1990). El- Gamal, A. Mahmoud (2006), Islamic finance: law, economics, and practice, Cambridge University Press, USA (2006) Falee. Jamaldeen M., (2008), History of Islamic Banking. Web Link: Hassan, K and Lewis, M (2007), Handbook of Islamic Banking, UK, Edward Elgar Publishing Limited Hasan, Maher and Dridi, Jemma (2010), The Effects of the Global Crisis on Islamic and Conventional Banks: A Comparative Study, International Monetary Fund (IMF) (2010). Web Link: Homoud, S.H (1985), Islamic Banking, Arabian Information Ltd, London. Iqbal, M and Llewellyn, D, T (2002) Islamic Banking and Finance: new perspectives on profit sharing and risk, Edward Elgar Publishing Limited (2002) Iqbal. Z, and Mirakhor. A (1987), Islamic banking, International Monetary Fund, Occasional Paper, No. 49, Washington DC (1987). Islamic Banks: More Resilient to Crisis? IMFSurvey Magazine: IMF Research, IMF Survey online (October 4, 2010). Web Link: Khan, M.F. (1983), Profit and loss sharing: an economic analysis of an Islamic financial system, PhD dissertation, University of Michigan. Lewis, M and Algaoud, L, M (2001) Islamic Banking, UK: Edward Elgar Publishing Limited. Nijzink, Laurens (2009), Islamic banking - the answer to the credit crunch?, Radio Netherlands. Rahman, A, Yahia (2010) The Art of Islamic Banking and Finance: Tools and Techniques for Community-Based Banking, John Wiley and Sons, USA. Shirazi, M (1990), Islamic Banking, Butterworths, London (1990). Shook, D. N, Hassan, S.S (1988), Marketing management in an Islamic banking environment: in search of an innovative marketing concept, International Journal of Bank Marketing, 6, 1. Sudin, H, Norafifah, A and Planisek, L (1994), Bank patronage factors of Muslim and non- Muslim customers, International Journal of Bank Marketing, 12, 1. 43
5 Sundarajan, V., and Erico, Luca, Islamic Financial Institutions and Products in the global Financial System: Key Issues in Risk Management and challenges ahead, IMF Working Paper WP/02/192 (2002) Usmani, M.T.Mufti (1998). An introduction to Islamic Finance, Web link: Usmani 44
Challenges in Islamic Finance
Challenges in Islamic Finance Dr. Ahmet Sekreter Business and Management Department, Ishik University, Erbil, Iraq Email: ahmet.sekreter@ishik.edu.iq Abstract Doi:10.23918/icabep2018p29 The growth of Islamic
More informationPERCEPTION TOWARD ISLAMIC AND CONVENTIONAL BANKING AMONG EDUCATED PEOPLE IN MUSLIM COMMUNITY: A STUDY BASED AKKARAIPATTU DIVISION IN AMPARA DISTRICT
PERCEPTION TOWARD ISLAMIC AND CONVENTIONAL BANKING AMONG EDUCATED PEOPLE IN MUSLIM COMMUNITY: A STUDY BASED AKKARAIPATTU DIVISION IN AMPARA DISTRICT HMF. Safna 1, R. NushrathSulthan, MIF. Hassana 3 1,,3
More informationExploring the Dynamism of Islamic Finance in the GCC Region
Workshop 7 Exploring the Dynamism of Islamic Finance in the GCC Region Workshop Directors: Prof. Mehmet Asutay Director, Durham Centre in Islamic Economics and Finance Durham University United Kingdom
More informationFinancing Public Infrastructure Using Sovereign Sukuk
Financing Public Infrastructure Using Sovereign Sukuk Salman Ahmed Shaikh Markets fail in the provision of public goods. Public goods are non-rival and non-exclusive. This creates the problem of free riding.
More informationTowards a Sustainable Islamic Microfinance Model in Pakistan
Journal of Islamic Banking and Finance Julyl Sept 2016 1 Towards a Sustainable Islamic Microfinance Model in Pakistan Salman Ahmed Shaikh According to SDPI estimates, poverty rate in Pakistan has increased
More informationThe Internationalization of Islamic Finance and the Role of International Educational Centres in Human Capital Development
The Internationalization of Islamic Finance and the Role of International Educational Centres in Human Capital Development Mohd-Pisal Zainal, Ph.D. Henley Business School Malaysia Monday, April 3, 2017
More informationNon-Muslim Perception on Islamic Banking Products and Services in Malaysia
World Journal of Islamic History and Civilization, 7 (1): 07-11, 2017 ISSN 2225-0883 IDOSI Publications, 2017 DOI: 10.5829/idosi.wjihc.2017.07.11 Non-Muslim Perception on Islamic Banking Products and Services
More informationOne Day Specialized Training on Islamic Banking, Finance and Islamic Microfinance
One Day Specialized Training on Islamic Banking, Finance and Islamic Microfinance th 19 January, 2018 Sofitel Hotel, Manila Philippines. ALHUDA CENTER OF ISLAMIC BANKING AND ECONOMICS AlHuda Center of
More informationPerceptions of Corporate Customers Towards Islamic Banking Products and Services in Pakistan
107 Perceptions of Corporate Customers Towards Islamic Banking Products and Services in Pakistan Sehrish Rustam 1 Saiqa Bibi 2 Khalid Zaman 3 Adeela Rustam 4 Zahid-ul-Haq 5 The main objective of this study
More informationCall for Paper GLOBAL FORUM ON ISLAMIC FINANCE (GFIF)2018 Islamic Finance Building Sustainable Future
Call for Paper GLOBAL FORUM ON ISLAMIC FINANCE (GFIF)2018 Islamic Finance Building Sustainable Future March 13 & 14, 2018 Organized by Center of Islamic Finance (CIF), COMSATS Institute of Information
More informationWhat is wrong with Interest? Ansar Finance Group. Islamic Finance for the Community by the Community
What is wrong with Interest? Ansar Finance Group Islamic Finance for the Community by the Community What is wrong with Interest? Islamic point of view Interest has been declared Haram (forbidden) by Allah
More informationCERTIFICATE IN ISLAMIC BANKING AND FINANCE
CERTIFICATE IN ISLAMIC BANKING AND FINANCE INTRODUCTION Islamic Finance refers to the provision of financial services in accordance with the Shari ah Islamic law, principles and rules. Shari ah does not
More informationMonetary Policy in an Islamic Economy: The Central Bank s Role
Monetary Policy in an Islamic Economy: The Central Bank s Role The Annual Intellectual Symposium of Islamic Financial Economics University of London London, UK May 28th, 2014 Gabriella Crimi Mount Holyoke
More informationThe Paradigm of the Islamic Banking System
185 The Paradigm of the Islamic Banking System Bogdan Munteanu Islamic banks have constantly grown their activity and expanded across the world economy, in a matter of decades. Today, their assets cover
More informationExamining Theories of Growth & Development & Policy Response Based On Them From Islamic Perspective
Examining Theories of Growth & Development & Policy Response Based On Them From Islamic Perspective S a lma n Ahmed S h a i kh Poverty and inequality around the world has been rising over the last three
More informationDIRECTIONS IN DEVELOPMENT Finance
DIRECTIONS IN DEVELOPMENT Finance Economic Development and Islamic Finance Zamir Iqbal and Abbas Mirakhor, Editors ß THE WORLD BANK Washington, D.C. Contents Foreword Acknowledgments Contributors Abbreviations
More informationTAKAFUL PAKISTAN LIMITED QUARTERLY REPORT MARCH 31, 2018
TAKAFUL PAKISTAN LIMITED QUARTERLY REPORT MARCH 31, 2018 Takaful Pakistan Limited Quarterly Report March 2018 CONTENTS Corporation Information 03 Vision, Mission and Ambition 05 Management Team 06 Branches
More informationLahore University of Management Sciences
Instructor Room No. Office Hours Email Telephone Secretary/TA TA Office Hours Course URL (if any) FINN 441 Islamic Banking and Finance Fall Semester 2016 Syed Aun Raza Rizvi/Saad Azmat saad.azmat@lums.edu.pk
More informationLahore University of Management Sciences. FINN 441 Islamic Banking and Finance Fall Semester 2014
FINN 441 Islamic Banking and Finance Fall Semester 2014 Instructor Dr. Saad Azmat Room No. SDSB-413 Office Hours Tuesday & Thursday (4:15-5:15) Other times by appointment only Email saad.azmat@lums.edu.pk
More informationww.fidfinvest.com Islamic Finance an Introduction
Islamic Finance an Introduction Islamic a word, which nowadays puts many people on alert, in particular, those who regularly watch certain media, and thus develop a kind of what is called Islamophobia
More informationPerception of Individual Consumers toward Islamic Banking Products and Services in Pakistan
Vol.5 14 Perception of Individual Consumers toward Islamic Banking Products and Services in Pakistan Amer Sohail Assistant Professor Department of Management Sciences, University of Sargodha,Gujranwala
More informationSharia Finance. Islamic Economics The Solution for World Crisis
Sharia Finance Islamic Economics The Solution for World Crisis 2010 Dubai Intl. Peace Convention Background of Dr. Hussein Hamed Hassan Gender roles at Peace Convention Dr. Hassan s three main points Dr.
More informationAnalysis of Minor Proposals outside the Mainstream Islamic Finance in Pakistan
Journal of Islamic Banking and Finance July Sept 2017 1 Analysis of Minor Proposals outside the Mainstream Islamic Finance in Pakistan Salman Ahmed Shaikh This paper is a humble attempt to discuss the
More informationThe Role of Internal Auditing in Ensuring Governance in Islamic Financial Institutions (IFIS) 1
Innovation and Knowledge Management: A Global Competitive Advantage 2158 The Role of Internal Auditing in Ensuring Governance in Islamic Financial Institutions (IFIS) 1 Yazkhiruni Yahya, Kuala Lumpur,Malaysia
More informationIslamic Microfinance 4th - 6th June, 2013 in Addis Ababa - Ethiopia
3 Days Specialized Training Workshop on Islamic Microfinance 4th - 6th June, 2013 in Addis Ababa - Ethiopia Jointly Organized By AlHuda Center of Excellence in Islamic Microfinance Islamic Microfinance
More informationIslamic banking worldwide what is in it - for All of Us
2 nd International Conference & Exhibition on Islamic Banking and Finance Islamic worldwide what is in it - for All of Us By: Muhammad Ikram Thowfeek THRUST OF THE PRESENTATION: Introduction Market demand,
More informationEmployee Perception, Knowledge and Potential of Islamic Banking in Pakistan
From the SelectedWorks of Rana Rashid Rehman 2014 Employee Perception, Knowledge and Potential of Islamic Banking in Pakistan Rana Rashid Rehman Available at: https://works.bepress.com/rashidrehman/15/
More informationDiploma in Islamic Finance
Diploma in Islamic Finance A different prespective on global business by Institute of Cost & Management Accountants of Pakistan Catch the opportunity and take the lead. Introduction ICMA Pakistan has developed
More informationSome Higher Education Issues in Muslim Countries with Islamic Economics as an Illustrative Case
Journal of Islamic Banking and Finance Oct Dec 2018 1 Some Higher Education Issues in Muslim Countries with Islamic Economics as an Illustrative Case Zubair Hasan The purpose of this paper is (i) to state
More information23 September, 2017, Manila - Philippine
23 September, 2017, Manila - Philippine Registered with FAA as Training Provider ALHUDA CENTER OF ISLAMIC BANKING AND ECONOMICS AlHuda Center of Islamic Banking and Economics (CIBE) is a pioneer organization
More informationISLAMIC BANKING STRUCTURES: IMPLICATIONS FOR RISK AND FINANCIAL STABILITY
Islamic Economic Studies Vol. 20, No.2, December 2012 ISLAMIC BANKING STRUCTURES: IMPLICATIONS FOR RISK AND FINANCIAL STABILITY Author: Abd Elrahman Elzahi Saaid Ali Published by Islamic Research and Training
More informationISLAMIC BANKING SCHEME: A NEW SILVER BULLET IN BANKING INDUSTRY
ISLAMIC BANKING SCHEME: A NEW SILVER BULLET IN BANKING INDUSTRY Dariyoush Jamshidi International Business School (IBS), Univeristi Teknologi Malaysia (UTM) University of Applied Science and Technology,
More informationIslami Banking and Finance Resilience and Stability in the Present System
Current Issues in Islami Banking and Finance Resilience and Stability in the Present System This page intentionally left blank Current Issues in Islami Banking and Finance Resilience and Stability in the
More informationShariah Audit of Financial Institutions. August 26th - 27th, 2016 Lahore - Pakistan
Shariah Audit of Financial Institutions August 26th - 27th, 2016 Lahore - Pakistan About Training Workshop: AlHuda CIBE, realizing the immense need of training on Shariah Audit in Lahore, Therefore, AlHuda
More informationRecent Developments front. Asia and the Middle East IMAM WAHYUDI FENNY ROSMANITA NIKEN IWANI SURYA PUTRI
Recent Developments front Asia and the Middle East IMAM WAHYUDI FENNY ROSMANITA MUHAMMAD BUDI PRASETYO NIKEN IWANI SURYA PUTRI WILEY Contents Preface Acknowledgments flbout the Authors List of Acronyms
More informationElectronic copy available at:
ajlouni69@yahoo.com Electronic copy available at: http://ssrn.com/abstract=1554607 1 Electronic copy available at: http://ssrn.com/abstract=1554607 . ObaiduAllah ObaiduAllah (1) (2) (3) (e.g.,
More informationStructure Development for Microfinance Institute. Islamic Microfinance Product Development. Training & Capacity Building. Shariah Audit & Review
Centre of Excellence in Islamic Microfinance Structure Development for Microfinance Institute Our Islamic Micro Financial Services Islamic Microfinance Product Development Training & Capacity Building
More informationRecent Developments in Islamic Finance
Recent Developments in Islamic Finance Melikşah Utku CEO - Albaraka 6 th COMCEC CAPITAL MARKETS REGULATORS FORUM MEETING 31 October 2017 Istanbul, Turkey I. Islamic Finance and innovative spirit II. The
More informationCustomer satisfaction and awareness about Islamic banking system
Customer satisfaction and awareness about Islamic banking system Abstract Hassan Raza University of the Punjab,Gujranwala campus M.Azeem Azeem_pugc41@yahoo.com University of Sargodha, Gujranwala Campus
More informationGROWING DEMAND FOR TALENT IN ISLAMIC FINANCE
Demand for Islamic finance talent is set to grow in tandem with a rapidly expanding industry, especially as Islamic finance evolves to be more competitive and increasingly sophisticated. Efforts to expand
More informationMr. Tahir Khurshid Head Of Audit & Inspection Group Bank Alfalah Limited
1 Mr. Tahir Khurshid Head Of Audit & Inspection Group Bank Alfalah Limited Audit & Risk Review Function in Banks - Rising Expectations & Challenges Islamic Banking and Shariah audit 3 rd Pakistan Internal
More informationInternational Journal of Administration and Governance. The Effect of Customer Acceptance on Islamic Banking Products and Services
IWNEST PUBLISHER International Journal of Administration and Governance (ISSN 2077-4486) Journal home page: http://www.iwnest.com/aace/ The Effect of Customer Acceptance on Islamic Banking Products and
More informationMIFP MASTERS IN ISLAMIC FINANCE PRACTICE
2 MIFP MASTERS IN ISLAMIC FINANCE PRACTICE make Malaysia as a center for Islamic Finance. Malaysia has achieved those objectives, evidenced for example by it being the largest issuer of Sukuk in the world.
More informationTHE ROLE OF CENTRAL BANK OF MALAYSIA IN DEVELOPING MALAYSIA'S ISLAMIC FINANCIAL INDUSTRY
الا كاديمية العالمية للبحوث الشرعية ISRA International Shari ah Research Academy for Islamic Finance THE ROLE OF CENTRAL BANK OF MALAYSIA IN DEVELOPING MALAYSIA'S ISLAMIC FINANCIAL INDUSTRY Prof. Dr. Mohamad
More informationRudolf Böhmler Member of the Executive Board of the Deutsche Bundesbank. 2nd Islamic Financial Services Forum: The European Challenge
Rudolf Böhmler Member of the Executive Board of the Deutsche Bundesbank 2nd Islamic Financial Services Forum: The European Challenge Speech held at Frankfurt am Main Wednesday, 5 December 2007 Check against
More informationA STUDY ON THE CUSTOMER S ACCEPTANCE TOWARDS ISLAMIC BANKING PRODUCTS AMONG NON-MUSLIM IN DUAL BANKING SYSTEM JUWAIRIAH MOHAMAD MUHAMMAD FAKHIRIN CHE MAJID Islamic Business School Universiti Utara Malaysia
More informationDUBAI THE CAPITAL OF THE ISLAMIC ECONOMY
DUBAI THE CAPITAL OF THE ISLAMIC ECONOMY THE VISION The ecosystem of the Islamic economy harmonizes ethics with innovation, and combines real commitment with actual development objectives in order to meet
More informationCENTRE OF ISLAMIC BANKING AND ECONOMICS
LEARNING BEYOND THE BOUNDARIES Flexible - Elegant - Convenient & Self-Managed Study Highly structured and innovatively designed Distance Learning Program with an interactive methodology, under the supervision
More informationThe AEG is requested to: Provide guidance on the recommendations presented in paragraphs of the issues paper.
SNA/M1.17/5.1 11th Meeting of the Advisory Expert Group on National Accounts, 5-7 December 2017, New York, USA Agenda item: 5.1 Islamic finance in the national accounts Introduction The 10 th meeting of
More informationIslamic Banking in India
ISSN 2278 0211 (Online) Islamic Banking in India Asma Sultana Department of Commerce, St. Ann s College for Women, Hyderabad, India Dr. N.V. Kavitha HOD, Department of Commerce, st. Ann s College for women,
More informationCorporate Governance in the Islamic Banking. System in Pakistan: The Role of the Shari ah. Supervisory Boards
Corporate Governance in the Islamic Banking System in Pakistan: The Role of the Shari ah Supervisory Boards Hussain G. Rammal A Thesis submitted in fulfilment of the requirements for the degree of Doctor
More informationModern Investment under Shari ah Discipline
Journal of Islamic Banking and Finance Oct.- Dec. 2015 1 Modern Investment under Shari ah Discipline Mohd Ma Sum Billah, Ph.D Modern investment activities under Shari ah (Islamic law) principles had promisingly
More informationEvolution of Islamic Economics Definition, Nature, Methodology, Problems and Challenges
Journal of Islamic Banking and Finance April June 2017 1 Evolution of Islamic Economics Definition, Nature, Methodology, Problems and Challenges Professor Emeritus Dr. Zubair Hasan Abstract Since the ill-conceived
More informationProgram Brochure. Master Diploma. Islamic Finance. Develope Your Skills to Design Islamic Financial Services.
Program Brochure Master Diploma Islamic Finance Develope Your Skills to Design Islamic Financial Services www.aims.education MDIF Program Overview Master Diploma in Islamic Finance (MDIF) is an advanced
More informationProduct Branding and Market Development Global Growth Opportunities. Daud Vicary Abdullah
Product Branding and Market Development Global Growth Opportunities Daud Vicary Abdullah 1 Agenda Facts and Figures Spreading the Word About Islamic Finance Opportunities Challenges to Development 2 What
More informationth th July, 2018 Nairobi - Kenya
th th 27-28 July, 2018 Nairobi - Kenya www.alhudacibe.com CIBE ALHUDA CENTER OF ISLAMIC BANKING AND ECONOMICS AlHuda Center of Islamic Banking and Economics (CIBE) is a pioneer organization started its
More informationA Descriptive Analysis of Islamic Finance as a Possible Alternative to Conventional Investment Management
A Descriptive Analysis of Islamic Finance as a Possible Alternative to Conventional Investment Management Timothy A. Falade Obalade PhD Assoc. Professor, College of Business Administration, American University
More informationTHE PROFIT EFFICIENCY: EVIDENCE FROM ISLAMIC BANKS IN INDONESIA
THE PROFIT EFFICIENCY: EVIDENCE FROM ISLAMIC BANKS IN INDONESIA Muryani Arsal, Nik Intan Norhan bt Abdul Hamid Faculty of Management, ABSTRACT This study investigates the profit efficiency of Indonesia
More informationA Critical Analysis of Mudarabah & A New Approach to Equity Financing in Islamic Finance
A Critical Analysis of Mudarabah & A New Approach to Equity Financing in Islamic Finance Salman Ahmed Shaikh Financial intermediation serves a valuable purpose, but it can also be structured using equity
More informationIslamic Finance: Challenges and the Way Forward
Islamic Finance: VISION To become a leading institution for higher education in Banking and Finance in the region MISSION To develop and offer internationally recognized programmes, capacity building,
More informationTAKAFUL PAKISTAN LIMITED. ANNUAL REPORT December 31, 2017
TAKAFUL PAKISTAN LIMITED ANNUAL REPORT December 31, 2017 Takaful Pakistan Limited Annual Report December 2017 CONTENTS Corporation Information 03 Vision, Mission and Ambition 05 Management Team 06 Branches
More informationIslamic Microfinance an incredible tool to Alleviate Poverty!
Islamic Microfinance an incredible tool to Alleviate Poverty! AlHuda Center of Excellence in Islamic Microfinance is an initiative of AlHuda CIBE. AlHuda CIBE is a well established name in Islamic financial
More information4th ICIB Ministry of Planning Development & Reform Conference Secretariat: Mr. Ikram Ullah Khan Mr. Ehtesham Rashid
ICIB 4 th International Conference on Islamic Business 2016 Quaid-e-Azam Auditorium, IIUI Faisal Masjid Campus, Islamabad, Pakistan 20-22 February, 2016 Organized By: riphah international university riphah
More informationThe Rise of Islamic Finance
Page 1 of 7 The Rise of Islamic Finance Author: Mohammed Aly Sergie, Online Writer/Editor January 30, 2014 Introduction Origins and Controversy A Rising Asset Class Sukuk: A Global Trajectory Islamic Finance
More informationThe Islamic Finance Qualification (IFQ) expands upon knowledge gained from the Fundamentals of Islamic Banking and Finance.
The Islamic Finance Qualification (IFQ) expands upon knowledge gained from the Fundamentals of Islamic Banking and Finance. It is a global qualification that covers Islamic finance from both a technical
More informationProposed Model for the Implementation of Sadaqa
Proposed Model for the Implementation of Sadaqa House as Banking Product or Service Latifa Bibi MUSAFAR HAMEEDI Surianom MISKAMI Abstract This study is conducted to suggest a suitable model for implementing
More informationJournal of Internet Banking and Commerce
Journal of Internet Banking and Commerce An open access Internet journal (http://www.icommercecentral.com) Journal of Internet Banking and Commerce, April 2016, vol. 21, no. 1 The Role of Islamic Leading
More informationLibyan Business Firm Attitudes towards Islamic Methods of Finance
Libyan Business Firm Attitudes towards Islamic Methods of Finance * Alsadek H. Gait and Andrew C. Worthington Griffith Business School, Griffith University This paper investigates the attitudes of Libyan
More informationIN THE NAME OF ALLAH, THE MOST GRACIOUS, EVER MERCIFUL
IN THE NAME OF ALLAH, THE MOST GRACIOUS, EVER MERCIFUL Kingston Business School: Kingston University, London Msc Accounting and Finance Islamic Banking in the United Kingdom: Opportunities and Challenges
More informationISLAMIC AND NON-ISLAMIC FINANCE IN CONTEMPORARY PERSPECTIVE
ISLAMIC AND NON-ISLAMIC FINANCE IN CONTEMPORARY PERSPECTIVE Dr. Mohd Daud Bakar President/CEO International Institute of Islamic Finance (IIIF) Inc. mdaud@iiif-inc.com www.iiif-inc.com Islamic Finance
More information٤٢ أولا : ملاحظات تمهيدية : " " " " " " " " "." " "
( / ) - : : - -...... ( ). - : : ٤١ ٤٢ أولا : ملاحظات تمهيدية......... : " " " " " " " " "." " " ٤٣. " ".." ".. ( - ). " ( )." ) (... ( ).. (.. ) : ( ) : - /. ٤٤ ( ). : (" ").. ( ).. ( ). ( ) (.. ). (
More informationBANK OF UGANDA THE WORKSHOP ON THE FUNDAMENTALS OF ISLAMIC BANKING OPERATIONS ORGANIZED BY TROPICAL BANK LIMITED. Speech
BANK OF UGANDA THE WORKSHOP ON THE FUNDAMENTALS OF ISLAMIC BANKING OPERATIONS ORGANIZED BY TROPICAL BANK LIMITED Speech By PROF. EMMANUEL TUMUSIIME-MUTEBILE GOVERNOR, BANK OF UGANDA NOVEMBER 28, 2016 -
More informationCase Studies in Islamic _ Banking and Finance _
Case Studies in Islamic _ Banking and Finance _ Case Questions & Answers Brian Kettell A John Wiley and Sons, Ltd., Publication Preface Introduction About the Author xiii xvii xxiii 1 Case Study 1: Ijara
More informationIslamic Economics: Where From, Where To? (Muhammad Nejatullah Siddiqi)
JKAU: Islamic Econ., Vol. 27 No. 2, pp: 73-78 (July 2014) DOI: 10.4197 / Islec. 27-2.4 Islamic Economics: Where From, Where To? (Muhammad Nejatullah Siddiqi) Comment by: Rodney Wilson It is important to
More informationCultivating Good Prospects
Cultivating Good Prospects Imran Hussain Minhas The Government of Pakistan took several steps to Islamize banking system in Pakistan. Despite a set back they continued to proceed further and ultimately
More informationTRAINING PROGRAMME REGULATORY AND COMPLIANCE FRAMEWORK IN ISLAMIC FINANCE UNDER IFSA 2013
TRAINING PROGRAMME REGULATORY AND COMPLIANCE FRAMEWORK IN ISLAMIC FINANCE UNDER IFSA 2013 Dates and Time: 12-13 October 2015 (Monday-Tuesday) 9:00am - 5:30pm Venue: International Institute of Advanced
More informationProblems and Prospects of Islamic Capital Market In Bangladesh
ISSN: 2308-5096(P) ISSN 2311-620X (O) [International Journal of Ethics in Social Sciences Vol. 4, No. 2, December 2016] Problems and Prospects of Islamic Capital Market In Bangladesh Mohammad Aman Uddin
More informationTAKAFUL PAKISTAN LIMITED QUARTERLY REPORT SEPT 30, 2018
TAKAFUL PAKISTAN LIMITED QUARTERLY REPORT SEPT 30, 2018 Takaful Pakistan Limited Nine Months Report Sept 2018 CONTENTS Corporation Information 03-05 Vision, Mission and Ambition 06 Management Team 07 Branches
More informationGlobal Forum on Islamic Finance (GFIF) 2017 Event Report
Global Forum on Islamic Finance (GFIF) 2017 Event Report CIIT-Lahore/CIF/Report/GFIF-17/2017 Dated: March 21-22, 2017 The Global Forum on Islamic Finance (GFIF), 2017 COMSATS Institute of Information Technology
More informationKNOWLEDGE AND AWARENESS OF ISLAMIC BANKING AND FINANCE IN MACEDONIA: AN EMPIRICAL EVIDENCE
KNOWLEDGE AND AWARENESS OF ISLAMIC BANKING AND FINANCE IN MACEDONIA: AN EMPIRICAL EVIDENCE Sherif Abdullahi 1 Amir Shaharuddin 2 Abstract Since independence in 1991, the banking and financial system of
More informationTHEORY AND PRACTICE OF MODERN ISLAMIC FINANCE
THEORY AND PRACTICE OF MODERN ISLAMIC FINANCE THE CASE ANALYSIS FROM AUSTRALIA ABU UMAR FARUQ AHMAD BrownWalker Press Boca Raton TABLE OF CONTENTS About the Author What's in this Book Acknowledgements
More informationPeddling Religion? What is Islamic Finance? & Should we support it?
Peddling Religion? What is Islamic Finance? & Should we support it? Mahmoud A. El-Gamal Rice University Is there an Islamic Finance? All financial products available today are suspect : Mortgages, and
More informationبسم اهلل الرمحن الرحيم
SPECIAL ADDRESS AT THE KUALA LUMPUR ISLAMIC FINANCE FORUM (KLIFF) 2014 DATE: 11 TH NOVEMBER, 2014 VENUE: HOTEL ISTANA, KUALA LUMPUR BY PROFESSOR DR ENGKU RABIAH ADAWIAH ENGKU ALI ISLAMIC FINANCE: A SYNTHESIS
More informationIslamic banking in UK, challenges & opportunities
International Journal of Academic Research and Development ISSN: 2455-4197 Impact Factor: RJIF 5.22 www.academicsjournal.com Volume 3; Issue 1; January 2018; Page No. 86-94 Islamic banking in UK, challenges
More informationWorld Islamic Banking Competitiveness Report 2016 Introducing Islamic Banks Into Conventional Banking Systems
Islamic Banking A 300 Billion Deception Observations And Arguments On Riba Interest Or Usury Islamic Banking We have made it easy for you to find a PDF Ebooks without any digging. And by having access
More informationIslamic Economics system In the Eyes of Maulana ABSTRACT
Maududi-An Analysis Farooq Aziz * and Muhammad Mahmud ** ABSTRACT Attempt has been made to investigate the Islamic Economics System from the perspectives of Maulana Maududi. He is one of the greatest thinkers
More informationw w w.a ims.edu cation 1
1 Master Diploma in Islamic Finance Program Structure: MDIF is a two part program, and courses are divided into two semesters. Certified Islamic Finance Expert (CIFE) is awarded on completion of Semester-I
More informationDestination! Center of Islamic Banking & Economics. Canada. Organized by October, Islmaic Banking & Finance Heading Towards.
Organized by Center of Islamic Banking & Economics 18-19 October, 2018 Canada Islmaic Banking & Finance Heading Towards New Destination! In Association With Ansar Financial Interest-Free Investments AlHuda
More informationMuhammad Abubakar Siddique
Muhammad Abubakar Siddique Lecturer, IIIE Room# D-025, Block# II International Institute of Islamic Economics, International Islamic University, New Campus, H-10, Islamabad. Ph. Office: +92-51-9019438
More informationTechnical Committee of Experts on Islamic Banking and Finance. Third Session of OIC Statistical Commission April 2013 Ankara - Turkey
Technical Committee of Experts on Islamic Banking and Finance Third Session of OIC Statistical Commission 10-12 April 2013 Ankara - Turkey BACKGROUND Owing to the increasing importance of the role of statistics
More informationThe CIMA qualifications in Islamic Finance. A different perspective on global business
The CIMA qualifications in Islamic Finance A different perspective on global business I was always interested in moving into Islamic finance by my personal preference and the career opportunity available
More informationCENTRE OF ISLAMIC BANKING AND ECONOMICS
Advisory & Consultancy Education & Trainings Product Development Islamic Microfinance Help Desk Shariah Certification Shariah Audit Publications Conferences & Workshops Awareness & Promotion CENTRE OF
More informationZAKAT IS A SIGNIFICANT SOCIAL SAFETY NET IN THE DETERMINATION OF FOOD SECURITY: A SOCIOLOGICAL STUDY IN RAWALPINDI
ZAKAT IS A SIGNIFICANT SOCIAL SAFETY NET IN THE DETERMINATION OF FOOD SECURITY: A SOCIOLOGICAL STUDY IN RAWALPINDI 1 Muhammad Abo ul Hassan Rashid, 2 Malik Maliha Manzor ABSTRACT 1 Department of Sociology
More informationmanah Institute of Islamic Finance and Economics Learn at Your Pace, Anytime, Anywhere
manah Institute of Islamic Finance and Economics Learn at Your Pace, Anytime, Anywhere SCHOLARSHIP AVAIL A BLE Amanah Institute of Islamic Finance and Economics (Amanah IIFE) Post Graduate Diploma in Islamic
More informationISLAMIC BANKING CONTROVERSIES AND CHALLENGES
ISLAMIC BANKING CONTROVERSIES AND CHALLENGES Abstract Syed Farhan Shah Muhammad Wajid Raza Malik Rizwan Khurshid The concept of interest free financing was practised by Arabs prior to the advent of Islam,
More information7th GLOBAL Islamic Microfinance Forum
7th GLOBAL Islamic Microfinance Forum 24-25 November 2017 Istanbul, Turkey Advocating for an Enabling Framework on Islamic Microfinance and a Mechanism for Zakat to Accelerate Genuine and Sustainable Rehabilitation
More informationRegulatory Framework on Sharia-based Fintech: Current Issues
Regulatory Framework on Sharia-based Fintech: Current Issues Prof. Dato Dr Azmi Omar President & Chief Executive Officer 4 July 2018 INCEIF 2017 A member of AACSB INCEIF 2018 International Centre for Education
More informationCustomer Awareness and Current Usage of Islamic Retail Banking Products and Services in Malaysia
Australian Journal of Basic and Applied Sciences, 5(10): 667-671, 2011 ISSN 1991-8178 Customer Awareness and Current Usage of Islamic Retail Banking Products and Services in Malaysia 1 Seethaletchumy Thambiah,
More informationISLAMIC FINANCE AND BANKING MODES OF FINANCE
page 1 / 5 page 2 / 5 islamic finance and banking pdf Islamic banking or Islamic finance (Arabic:??????????????) or sharia-compliant finance is banking or financing activity that complies with sharia (Islamic
More informationSUSTAINABILITY & SOCIAL RESPONSIBILITY REPORT 2016 COMMUNITY SUSTAINABILITY PROSPERITY
SUSTAINABILITY & SOCIAL RESPONSIBILITY REPORT 2016 COMMUNITY SUSTAINABILITY PROSPERITY Your Partner Bank B Al Baraka Banking Group B.S.C Your Partner Bank Al Baraka Banking Group B.S.C. Al Baraka Headquarters
More information