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  1. SPECIAL PURPOSE VEHICLES (SPV): A MANIFESTATION OF ISLAMIC FINANCIAL INNOVATION (ISRA-TR REPORT 2016)

    Published on 2016 by Umar A. Oseni

    The use of Special Purpose Vehicles (SPV) or special purpose entities (SPE) in project financing has become pervasive in the modern financial system. An SPV is a legal entity established by a parent firm called the originator or sponsor to undertake…


  2. BREACH OF WA’D AND ITS COMPENSATION PAYMENT IN ISLAMIC PROFIT RATE SWAP (ISRA-TR REPORT 2016)

    Published on 2016 by Noor Suhaida Kasri

    Wa’d or unilateral promise has become a prominent tool in structuring Islamic financial products, particularly Islamic hedging instruments. Wa’d is a promise given by one party (promisor) to enter into a Shariah-compliant transaction with another party (promisee) in the future.…


  3. SHARIAH REQUIREMENTS IN SUKUK STRUCTURING (ISRA-TR REPORT 2016)

    Published on 2016 by Nida Raza

    The sukuk market has taken an interesting turn across many aspects in recent years. Sukuk structures have advanced from a plain vanilla fixed income instru ment to a hybrid structure having both debt and equity features. Similarly, the language used in…


  4. THE USE OF TRUST IN WAQF AND SUKUK (ISRA-TR REPORT 2016)

    Published on 2016 by Rodney Wilson

    Islamic financial institutions have attempted to provide as wide a range of products and instruments as their conventional counterparts while ensuring that what is offered is Shariah-compliant. This has proved an enormous challenge, but the successful innovation of new Islamic financial…


  5. APPROACHES IN DEVELOPING ISLAMIC FINANCIAL SERVICES (ISRA-TR REPORT 2016)

    Published on 2016 by Engku Rabiah Adawiah Engku Ali

    The Islamic finance industry has grown by leaps and bounds since its introduction in the 1960s and 1970s. The range of Islamic financial services and products has broadened, the volume deepened and the players many times multiplied. The development of Islamic…


  6. DEVELOPMENT OF CONCEPTS IN ISLAMIC FINANCE (ISRA-TR REPORT 2016)

    Published on 2016 by Ahcene Lahsasna

    The rise of Islamic finance proliferated the use of some concepts and practices that were previously unique to the Arabian Peninsula. The exibility of Shariah principles has enabled the harmonization of Islamic legal thought with new practices in modern contexts…


  7. ENFORCEABILITY AT ENGLISH LAW ON ISLAMIC FINANCIAL DOCUMENTATIONS AND SECURITY ENFORCEMENTS: DUBAI ISLAMIC BANK PJSC V PSI ENERGY HOLDING CO BSC AND ORS CASE STUDY (ISRA-TR REPORT 2016)

    Published on 2016 by Harjaskaran Rai

    Finance transactions in the Middle East are governed by a mix of complex domestic and foreign laws. Depending on the location, structure of financing and nature of the parties, the documentation could be governed by a number of different laws with…


  8. THE ARCAPITA GROUP BANKRUPTCY: A RESTRUCTURING CASE STUDY (ISRA-TR REPORT 2016)

    Published on 2016 by Michael J.T. McMillen

    Arcapita Bank (“Arcapita”) and its Debtor and non-Debtor afflliates (the “Group”) suffered an inability to obtain liquidity as a result of the 2007 global economic downturn and debt crisis. This affected the Group’s ability to refinance a US$1.02 billion syndicated…


  9. ENFORCEABILITY OF ISLAMIC FINANCE CONTRACTS: A MALAYSIAN EXPERIENCE (ISRA-TR REPORT 2016)

    Published on 2016 by Jal Othman, Ainin Wan Salleh

    Islamic finance is fast becoming part of the mainstream, with Malaysia at the forefront of this development. This growth can be attributed to the dynamic landscape of the Malaysian legal and financial system which has fostered the proliferation of a wide…


  10. THE ADJUDICATION OF ISLAMIC FINANCE CASES: THE UK EXPERIENCE (ISRA-TR REPORT 2016)

    Published on 2016 by Fara Mohammad

    The legal system of a country generally consists of the judicial system, the executive, and the legislature. Add to these the legal professions; all are important considerations when it comes to Islamic financial transactions. These components underlie the application and…


  11. THE WAY FORWARD FOR INNOVATION IN ISLAMIC FINANCIAL PRODUCTS AND INSTRUMENTS (ISRA-TR REPORT 2016)

    Published on 2016 by DAUD VICARY ABDULLAH

    To put it very simply, the way forward is about a back to basics approach. Islamic finance is about Risk Sharing in the context of the Real Economy. The global financial crisis and much post-crisis research have clearly demonstrated that…


  12. CHALLENGES IN INNOVATION FOR ISLAMIC FINANCE PRODUCT DEVELOPMENT (ISRA-TR REPORT 2016)

    Published on 2016 by Mohamed Rafe Mohamed Haneef

    Over the last three decades, the Islamic finance industry has produced significant product innovation across various business segments. The market has followed the progress of Islamic financial products from simple murabahah-based home financing to more complex home financing based on musharakah…


 

 

 


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