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  1. NEW APPROACHES AND INNOVATION IN THE ISLAMIC CAPITAL MARKET (ISRA-TR REPORT 2017)

    Published on 2016 by Mohamed Rafe Mohamed Haneef

    Innovation happens in every market; no market can survive without continuous innovation. A good example is the Islamic capital market, which has been extremely innovative, and every year there are new products coming to the market. At the beginning in…


  2. ISLAMIC STRUCTURED INVESTMENT PRODUCTS (ISRA-TR REPORT 2017)

    Published on 2016 by Aznan Hasan

    (ISRA-TR REPORT 2017) There are a variety of products offered in the Islamic capital market, both retail and commercial. Beside the common products, we also have new and innovative products such structured products, sukuk, Islamic derivatives and hedge funds. Which…


  3. SHARIAH-COMPLIANT PRIVATE EQUITY AND VENTURE CAPITAL (ISRA-TR REPORT 2017)

    Published on 2016 by Fara Mohammad

    The economic expansion of Muslim countries worldwide and the growing network of business relationships between them encourage the growth of new investment opportunities in the Islamic finance industry. One such developing investment asset class is Private Equity (PE) and Venture Capital…


  4. ISSUES IN ISLAMIC HEDGING STRATEGIES (ISRA-TR REPORT 2017)

    Published on 2016 by Zairulnizad Shahrim

    In financial terms, hedging means applying a specific strategy to minimize investment risk through the use of certain contracts and products in a much more calculated manner than standard asset management. It aims to protect an investor’s investment position, but…


  5. INCOME PURIFICATION METHODOLOGY FOR SHARIAH-COMPLIANT STOCKS (ISRA-TR REPORT 2017)

    Published on 2016 by Ashraf Md. Hashim, Farrukh Habib

    Among modern corporations, it is barely possible to find a company whose business activities or sources of income are purely Shariah-compliant. In view of this, the majority of Shariah scholars have allowed for investing in the stocks of companies which…


  6. THIRD-PARTY GUARANTEE IN EQUITY-BASED SUKUK (ISRA-TR REPORT 2017)

    Published on 2016 by Beebee Salma Sairally, Marjan Muhammad, Najeeb Zada

    Protecting the capital of investors through the provision of a third-party guarantee has been practiced in sukuk structuring, including equity-based sukuk (EBS), i.e. musharakah and mudarabah sukuk. The guarantee has been used since the late 1970s, when the modern sukuk…


  7. PRACTICES OF SHARIAH GOVERNANCE IN THE ISLAMIC CAPITAL MARKET (ISRA-TR REPORT 2017)

    Published on 2016 by Mushtak Parker

    The Shariah governance function is an essential component of the Islamic system of financial intermediation. It is a red line that cannot be crossed or compromised because without it, the very raison d’etre of Islamic financial principles would be nullified.…


  8. ALTERNATIVE DISPUTE RESOLUTION IN THE ISLAMIC CAPITAL MARKET (ISRA-TR REPORT 2017)

    Published on 2016 by Umar A. Oseni

    With the geometric surge in capital market transactions around the world and the continued complexity of Shariah-compliant transactions, there has been a palpable increase in the number of disputes in the Islamic capital market (ICM). Such disputes are not limited…


  9. SUKUK: DEFAULT OR NO DEFAULT? (ISRA-TR REPORT 2017)

    Published on 2016 by Oliver Agha

    Commentators have suggested that sukuk holders’ rights and the resolution options available to them are no different from conventional bondholders’. This article offers a counter-argument to that perception. When defaults in market sukuk structures result from contractual covenants imported from conventional…


  10. THE ISLAMIC CAPITAL MARKET VIS-À-VIS THE INTERNATIONAL REGULATORY FRAMEWORK (ISRA-TR REPORT 2017)

    Published on 2016 by Salman Syed Ali

    Human initiatives tend to drive capital markets, and the desire for acquiring more keeps these markets active and vibrant. However, the smooth functioning of financial markets requires regulations to ensure fairness between transacting parties and to avoid adverse effects on…


  11. ADVANCING THE ISLAMIC CAPITAL MARKET THROUGH STOCKBROKING: THE CASE OF MALAYSIA (ISRA-TR REPORT 2017)

    Published on 2016 by Jamaluddin Nor Mohamad

    For years, attention has been skewed towards an emerging section of capital markets, namely debt securities, especially when discussing Islamic capital markets. The fixed-income asset class sukuk, which commonly refers to the Shariah-compliant alternative to bonds, has been without a…


  12. EMERGING TRENDS IN THE SUKUK MARKETS (ISRA-TR REPORT 2017)

    Published on 2016 by Blake Goud

    Sukuk markets have undergone tremendous upheaval during the past two years, driven by the drop in oil prices and signi ed by typically large issuer Bank Negara Malaysia markedly reducing its issuance.1 What has remained relatively consistent is the preference…


 

 

 


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