Islamic Finance and Economic Development: Risk, Regulation, and Corporate Governance |
Book Category:
Religion > Islam > General
|
Author:
El Tiby Ahmed
|
Binding:
Cloth
|
ISBN 13:
9781118847268
|
Price:
USD 80
|
Publication Year:
2014
|
Publisher Info
Maya Zurifeh,
John Wiley & Sons,The Atrium, Southern Gate,
West Sussex - PO19 8SQ,United Kingdom
Web: www.wiley.com Inquiry
The recent global financial crisis has highlighted the need for effective risk management and the need for international regulatory standards to foster it. The observation is equally valid for Islamic finance. Accordingly, it is crucial to understand the risk characteristics associated with Islamic finance operations to set an effective risk management framework that is both reliable and prudent and to develop relevant international regulatory standards. The financial crisis has also highlighted the importance of sound corporate governance that safeguards the interest of all stakeholders, mitigates risks, and fosters growth. In this context, it is crucial to focus on the corporate governance challenges of IIFS and establish a Sharia governance framework. The book contains four parts: Part 1 provides a primer to Islamic finance and highlights of its history. It offers an analysis of recent developments and the landscape of Islamic finance. Part 2 is about risk, contagion and distress. It provides a picture on how global financial crises could affect Islamic Finance. Part 3 considers the regulatory framework for Islamic banking. It discusses the opportunities and challenges for regulators, policy makers, and bankers. It provides an approach that can enable the mainstreaming of Islamic finance while keeping it true to its principles. Part 4 is dedicated to the governance issue in Islamic finance. It discusses the financial Fiduciary Governance and Sharia Fiduciary Governance. It then presents an approach to the development of a systemic Sharia governance framework for Islamic finance activities. Core concepts include: the relationship between Islamic finance and economic development, the creation of a blueprint for a regulatory approach to Islamic finance that promotes stability and vibrancy, and an approach to the development of a systemic Sharia corporate governance framework for Islamic finance.