Language
English
English
Degree
M.Sc
Select type of work
CIS Program Old
CIS publications
No
CIS Thesis
Yes
Student Name
Ibrahim, Abdul-Jalil
Year of Graduation
2018
QF Thematic Areas
CIS Program
Abstract
| The main objective of the study is to explore how VC in an Islamic frame can be used to finance SMEs and start-ups in Ghana with focus on investment protection. The study is aimed at looking at how IVC can be structured and how Shari'ah-compliant instruments can be used to protect investments and attract investors which have been lacking in the literature. The findings of the research demonstrate that there are Shari'ah-compliant instruments available for IVC that can be used to protect investments and incentivise potential investors into IVC. Preference Shares, Perpetual Mudharabah, Musharakah with Murabahah, Musharakah with Qard, Negligence Clauses, Liquidation preference, Diminishing Musharakah, Warrants, and Supermajority Clauses can all be used with appropriate conditions to protect investors and offer incentives for them to invest in IVC. The trump card in the use of these instruments is that their application will not lead to Riba or guarantee of returns in respective contracts. The research concludes that IVC operations in Ghana will have an impact by stimulating job creation, driving technological innovation, improving financial inclusion and more broadly, will lead to economic growth. Recommendations are presented which will ensure that IVC ecosystem will be developed to support SMEs development for economic growth and development. |