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  1. THE IIFM ISLAMIC HEDGING MASTER AGREEMENT: A SHARIAH PERSPECTIVE (ISRA-TR REPORT 2016)

    Published on 2016 by Ijlal Alvi

    The ISDA/IIFM Tahawwut Master Agreement was designed to facilitate the risk management function of Islamic financial institutions. It is seen as the backbone for Islamic hedging products and documentation and has contributed to an increased understanding of Islamic hedging product structuring…


  2. LATEST TRENDS IN ISLAMIC DERIVATIVES (ISRA-TR REPORT 2016)

    Published on 2016 by Habib Motani, Qudeer Lateef, Cheuk-Yin

    Islamic derivatives have been a long-standing component of the wider Islamic finance industry, providing risk management solutions to complement other sectors of the industry and offering hedging possibilities to Shariah-compliant market participants. Those fundamental tenets of Shariah jurisprudence which are particularly…


  3. APPROACHES OF INNOVATION IN ISLAMIC FINANCE (ISRA-TR REPORT 2016)

    Published on 2016 by Sami ibn Ibrahim al-Suwaylim

    We live in an ever-changing world where innovation is not a luxury but a must for survival. Virtually all of the economic growth since the 18th century is ultimately attributable to innovation (Baumol, 2002). Developing countries do not so much…


  4. INNOVATION IN ISLAMIC FINANCE: TRAJECTORY, CONSTRAINTS AND FUTURE PROSPECTS (ISRA-TR REPORT 2016)

    Published on 2016 by Haydar Naser

    Financial innovation as understood in modern financial transactions refers to processes by which new financial products are invented or existing products are further developed in order to increase revenues, or better manage attendant risks, or provide a broader response to customers’…


  5. ISLAMIC SPOT FOREX (FX-I) OFFERED BY ISLAMIC FINANCIAL INSTITUTIONS: AN ANALYSIS (ISRA-TR REPORT 2016)

    Published on 2016 by Burhanuddin Lukman

    Foreign currency exchange (forex) is an important segment of international business activities. The trading of the global forex market is reported to be at an average of US$5.3 trillion per day in April 2013. According to the Bank for International Settlement…


  6. SHARIAH ISSUES IN PREFERENCE SHARES (ISRA-TR REPORT 2016)

    Published on 2016 by Shamsiah Mohamad

    The most common shares issued by companies to its shareholders are ordinary shares, while preference shares are typically issued to investors to protect their interests. Not all of the ways in which preference shares are employed would meet Shariah requirements…


  7. CONVERSION OF CAPITAL MARKETS INTO ISLAMIC CAPITAL MARKETS — THE GLOBAL EXPERIENCE (ISRA-TR REPORT 2017)

    Published on 2016 by Mushtak Parker

    The concept of an Islamic capital market (ICM) is often used loosely, and in some respects, erroneously. Furthermore, the total conversion of any capital market into an ICM is neither realistic nor pragmatic, just as the Islamization of the entire…


  8. ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) INVESTING STRATEGIES IN ISLAMIC FUNDS (ISRA-TR REPORT 2017)

    Published on 2016 by REHAN PATHAN

    At heart, ESG and Shariah-compliant investing are both based around a set of similar values. Whereas conventional finance has traditionally been built on the basis of maximizing risk-adjusted returns, Islamic and socially-responsible investors are driven by the requirement of seeking…


  9. STRENGTHENING GLOBAL CONNECTIVITY AND CROSS-BORDER INVESTMENTS IN ISLAMIC CAPITAL MARKETS (ISRA-TR REPORT 2017)

    Published on 2016 by Mohd Azmi Omar, Dawood Ashraf

    Despite the idealistic vision of Islamic finance, in which equity participation and risk sharing are the norm, Islamic capital markets are still relatively underdeveloped. This is particularly the case in the Organization of Islamic Cooperation (OIC), the members of which are…


  10. THE ROLE OF FATWA IN THE ISLAMIC CAPITAL MARKET (ISRA-TR REPORT 2017)

    Published on 2016 by Mohamed Ali Elgari

    Despite the fact that Islamic capital markets are thriving, Islamic capital markets have a long way to go to really become a full substitute to the conventional capital markets. Not all the blame can be directed at the “fatwa,” but…


  11. SOCIALLY RESPONSIBLE INVESTMENT SUKUK: THE CASE OF THE INTERNATIONAL FINANCE FACILITY FOR IMMUNIZATION (IFFIM) (ISRA-TR REPORT 2017)

    Published on 2016 by AHSAN ALI

    The International Finance Facility for Immunization (IFFIm) is a multilateral development institution set up in 2006 as a charity to provide funding to the GAVI Alliance (a Swiss based non-profit foundation) for immunization and vaccine procurement programs in some of the…


  12. SHARIAH-COMPLIANT SCREENING METHODOLOGIES (ISRA-TR REPORT 2017)

    Published on 2016 by Mohammed Donia

    Shariah-compliant equities screening is a surprisingly complex task. Screening methodologies have evolved over the past few decades, typically filtering by the industries in which the equity does business. If these match a short list of industries, such as distilling, the equity…


 

 

 


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