Download A Primer on Islamic Finance by Bala Shanmugam PDF

By Bala Shanmugam

This easy yet finished creation to Islamic finance is reader pleasant and vast in scope. It covers the fundamental innovations, markets, items, and problems with Islamic finance and indicates the various nature of Shari'a criteria in numerous nations.

Show description

Read or Download A Primer on Islamic Finance PDF

Best economy books

Foreign Direct Investment, Location and Competitiveness

This quantity addresses many of the severe concerns now tough the eye of foreign company lecturers and researchers. From a number of angles, the contributions examine elements which can clarify, and/or effect the connection among the competitiveness of firm firms (MNEs) and the international locations within which they function.

Producer Dynamics: New Evidence from Micro Data (National Bureau of Economic Research Studies in Income and Wealth, Vol 68)

The Census Bureau has lately began liberating authentic statistics that degree the activities of agencies out and in of industrial and staff out and in of jobs.  the industrial analyses in manufacturer Dynamics make the most this newly on hand facts on institutions, enterprises, and employees, to deal with matters in business association, hard work, progress, macroeconomics, and foreign exchange.

Innovation Policy in the Knowledge-Based Economy

Students within the technological know-how and expertise box haven't jointly wondered, less proposed, an time table for coverage makers. now's a suitable time for such an venture. First, there's a starting to be trust that the U. S. nationwide study and improvement procedure, like that of many business countries, is altering as a result of worldwide aggressive pressures and developments in details know-how and digital trade.

The Pocketbook of Economic Indicators

The Pocketbook of monetary signs. when you've got no notion what CPI, PMI, or ECI ability, then you definitely are like such a lot starting traders. permit me clarify those and some different phrases to augment your wisdom of symptoms that influence your funding.

Additional resources for A Primer on Islamic Finance

Sample text

Ijarah is typically used for high-cost assets with long life spans. 7. The owner of the asset, or lessor (the bank), bears all the risks associated with ownership, such as asset maintenance, while the user of the asset (lessee) pays a fixed price (rent) for enjoying the benefits of the asset. Many scholars are critical of a practice whereby the Islamic bank makes the lessee the actual payer of the takaful (Islamic insurance) contribution or premium by passing on the premium costs as part of the lease installments to be paid by the lessee (Ayub 2007).

Bai’ salam financing is a forward financing transaction frequently used in the agriculture industry. In this structure, the bank purchases specified assets in advance of a predetermined delivery date. Typically, the bank receives a discount for the advance payment plus a profit margin. The quality of the commodities that are being purchased is fully specified so as to leave no room for ambiguity. The agreement is structured to benefit both parties to the transaction (Rosly 2005). The following mandatory conditions must be met in bai’ salam arrangements (Gulaid 1995): • Payment is immediate unless otherwise stipulated in the contract.

Sukuk differ from conventional bonds in that they do not pay interest. Islam forbids the payment of interest, but a financial obligation or instrument that is linked to the performance of a real asset is acceptable. Sukuk returns are tied to the cash streams generated by underlying assets held in special purpose vehicles (SPVs). The cash stream can be in the form of profit from a sale, profit from a rental, or a combination of the two. The conventional asset securitization process is used in structuring sukuk.

Download PDF sample

Rated 4.73 of 5 – based on 26 votes