Islamic Finance

This article focuses on Islamic bonds and debt securities and examines specific issues in Islamic debt securitization. Other areas of securitization are discussed briefly to provide an overall picture of the topic. The article also investigates the potential bridging and extension of the concept of securitization to new opportunities and assets that are capable of securitization. Throughout this paper, the focus will be on the modes of securitization for Islamic contracts, essentially to meet the requirements of Islamic legal rules and principles.

Sukuk (plural) are unique fixed-income vehicles structured as asset-, project- or service-backed entities. They provide proportionate ownership in a designated asset or pool of assets. This enables investors (

This book is comprehensive in its coverage, and it should provide an indispensable guide to the options available for those seeking to raise finance through sukuk issues or invest in sukuk securities. Professional bankers and finance specialists can learn how to structure

The purpose of this paper is to validate the concern that banks' increasing involvement in securitization activity restrains banks' lending, as well as their degree of risk tolerance. Theoretical frameworks claim that securitization reduces risk, hence decreasing banks' degree of risk aversion. Subsequently, banks would be motivated to increase their percentage of assets devoted to risky activities, which is lending to economic sectors. However, banking statistics dictates that banks' lending is on the decline while banks' securitization activities are on the rise.

The importance and magnitude of small and micro-enterprises at a national as well as a multi-national level are discussed. It touches on the financing problems of this sector and proceeds to provide examples of micro-enterprises in Sudan that have dealt with this issue.

According to the Qur'an, wealth spent on zaka is multiplied. Interest, which hurts the economy, is totally banned by the last verses of Surah al-Baqarah revealed at Madinah. Charity and zaka, as seen in the

One may delineate the qualities of interest based banking and of the institution of usury without determining whether interest is permissible in Shari`a. Usury in pre-Islamic Arabia, which was a moral rather than economic question for the inhabitants, was detrimental to the society. At least three Qur'anic passages stand against usury. Though usury is exploitative, can the same can be said of the modern banking system?