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  1. THE USE OF CONVENTIONAL RATING METHODOLOGIES FOR SUKUK (ISRA-TR REPORT 2017)

    Published on 2016 by Khalid Ferdous Howladar

    Islamic finance passed a landmark in 2014, when it transitioned from a niche market, with sukuk issuances solely from Islamic financial institutions and Muslim nations, into a broader financial market with an increasing number of non-Islamic participants. Over the past two…


  2. UAE: YOUNG, YET GROWING ISLAMIC CAPITAL MARKETS (ISRA-TR REPORT 2017)

    Published on 2016 by Abdulaziz Goni

    Although relatively young compared to their counterparts in Asia, the capital markets of the United Arab Emirates (UAE) have witnessed phenomenal growth in the years since their inception. The Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) were both…


  3. BUILDING A ROBUST INVESTOR PROTECTION REGULATORY FRAMEWORK: THE CASE OF MALAYSIA’S ISLAMIC CAPITAL MARKET (ISRA-TR REPORT 2017)

    Published on 2016 by Noor Suhaida Kasri

    Malaysia’s Islamic capital market (ICM) has shown tremendous growth in recent years. By the end of 2015, its market value has reached RM1.70 trillion in size, which represents 60% of the entire Malaysian capital market. This expansion is driven mainly…


  4. ADDITIONAL TIER ONE SUKUK SHOW THE WAY TO THE FIRST CONTINGENT CONVERTIBLE (COCO) SUKUK ISSUANCE (ISRA-TR REPORT 2017)

    Published on 2016 by Blake Goud, Redha Al Ansari

    The market for contingent convertible (CoCo) bonds has grown since they were first introduced after the Global Financial Crisis in anticipation of Basel III rule changes that raise minimum capital requirements and limit the use of ‘old’ Tier 1 hybrid bonds.…


  5. CROWDFUNDING FROM AN ISLAMIC FINANCE PERSPECTIVE (ISRA-TR REPORT 2017)

    Published on 2016 by Hissam Kamal Hassan

    Business leaders have heralded the current age as the beginning of a Fourth Industrial Revolution in which many services, including banking and finance, are being disrupted. This change is driven by recent advances in Big Data, artificial intelligence, and social networks.…


  6. THE KHAZANAH SUSTAINABLE AND RESPONSIBLE INVESTMENT (SRI) SUKUK (ISRA-TR REPORT 2017)

    Published on 2016 by Mohd Izani Ghani

    Sustainable and Responsible Investment sukuk (SRI sukuk) is an innovative financial structure, recently regulated by the Malaysian Securities Commission, designed to drive private sector funding towards social service programmes while adhering to Islamic financial principles. Investors cover the up-front costs…


  7. AWQAF NEW ZEALAND (NZ): DEVELOPING THE WORLD’S FIRST SOCIALLY RESPONSIBLE AWQAF SUKUK (ISRA-TR REPORT 2017)

    Published on 2016 by Husain Benyounis, Mohamed Nalar, Shabana M. Hassan

    Since its establishment in February 2011, Awqaf New Zealand (NZ) has made significant progress towards its goal of establishing awqaf farms on a large scale that will supply an additional 5 million livestock to the adahi/qurbani industry. As a result,…


  8. OVERCOMING THE DEBT DILEMMA WITH RISK-SHARING INSTRUMENTS (ISRA-TR REPORT 2017)

    Published on 2016 by Obiyathulla Ismath Bacha

    In a 2010 book, renowned economists Rogoff and Reinhart show that every single financial or banking crisis in the last several hundred years has had a single root cause, excessive system wide debt. Financial crises have not only become much more…


  9. MULTI-LEVEL PROTECTION MUSHARAKAH SUKUK (ISRA-TR REPORT 2017)

    Published on 2016 by Sami ibn Ibrahim al-Suwaylim

    The 2008 global financial crisis proved the critical need for greater capital and risk-sharing instruments. Excessive debt makes the financial system fragile and prone to bank-runs that culminate into system-wide crises. This has been a major driver behind the revised…


  10. 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…


  11. 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…


  12. 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…


 

 

 


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