This work first presents the concept of risk management as it more generally applies to the financial industry, and then applies these principles to Islamic finance. A survey on the use of risk management was conducted amongst Islamic financial institutions. The regulatory and fiqh-related issues are also covered, including market and credit risks.
This book discusses a study done on the role of microfinance in poverty alleviation. This study proposes a two-pronged strategy to poverty alleviation through micro-enterprise development in membership countries of the Islamic Development Bank, basing their strategy on the dichotomy between livelihood and growth enterprises. The focus of the study is on provision of shari‘a-compliant financial services and enterprises.
The authors seek to, through a survey of written work on the phenomenon, come to an understanding of the axioms of Islamic finance. Financing, in an Islamic sense, is seen to be grounded in certain ideas. One such idea, the authors relate, is the necessity of ownership of an item in order to legitimately claim profits from it. Another is that financing takes place whenever there is a time gap between payment and a goods exchange. A third, according to the writers, is that loans are given out of goodness.
Islamic financial instruments are important to mobilize the public sector resources, as the title suggests, and this book analyzes how they do so. First, it provides an overview of Islamic financial instruments and methods of managing the economy. Then, it explores instruments based on contracts. Finally, it provides case studies of Malaysia and Bangladesh to analyze the use of Islamic financial instruments and domestic resource mobilization in those countries.