Speculation in the Islamic Capital Market: Setting the Sharīʿah Parameters

Speculation in the Islamic Capital Market: Setting the Sharīʿah Parameters Authors: Dr. Noor Suhaida Kasri (Head, Islamic Capital Market | [email protected]) Prof. Dr. Younes Soualhi (Senior Researcher | [email protected]) Dr. Moutaz Abojeib (Researcher | [email protected]) International Shari’ah Research Academy for…

Framework for financial hardship indebtedness management in abandoned housing projects in Malaysia

Purpose This paper aims to examine the existing practices and pertinent issues affecting Islamic banks and their customers in abandoned housing projects (AHPs) to ensure compliance with Shariah and statutory requirements. Design/methodology/approach This study employs the qualitative research method using…

Khazanah SRI Sukuk: A Case Study

2nd Islamic Finance Intellectual Discourse Sustainable Development Goals: Way Forward in Islamic Finance 22 February 2018 RHR Hotel @ UNITEN, Putrajaya KHAZANAH SRI SUKUK: A CASE STUDY Noor Suhaida Kasri, Ph.d, Researcher/Head of Islamic Capital Market Unit International Shari’ah Research…

Contra trading in Bursa Malaysia Securities Berhad: a Shari'ah and legal appraisal

Abstract Purpose – The purpose of this paper is to analyze the practice of contra trading  in Bursa Malaysia Securities Berhad. Through a critical examination of the practice, it aims to discuss the issues from the angles of Sharīʿah and…

The Application of Hibah in the Islamic Financial Services Industry in Malaysia: Towards A Shari'ah-Oriented Legal Framework

Hibah (gift) is one of the major concepts used in the Islamic financial services industry to develop Sharīʿah-compliant products that are viable and competitive with conventional products. Even though hibah was originally a stand-alone contract in Islamic commercial jurisprudence, it…

Issues in Islamic Hedging Practices: A Critical Analysis

This research investigates the practice of Islamic hedging and discusses the associated Sharīʿah issues. It recommends a revisit of the resolutions issued by some Sharīʿah advisory bodies on Islamic hedging in the light of its findings.

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

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.…

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

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…

Implementing the IFSA Investment Account: A Risk-Sharing Banking Model

Recent calls for risk-sharing—as expounded in the 2012 Kuala Lumpur Declaration, the 2014 Jeddah Declaration and the 2014 International Monetary Fund statement—elucidate the present situation of Islamic banking and finance: an acknowledgement that risk sharing is a “salient characteristic” of…

CONTRA TRADING IN BURSA MALAYSIA SECURITIES BERHAD: A SHARIAH AND LEGAL APPRAISAL (ISSF 2016) (Paper)

Introduction   Contra trading is an important aspect in stock trading. It allows a buyer who bought the shares to sell them before paying for the price of the shares to the seller. However contra trading is only given to…

Breach of Waʿd and Its Compensation Payment: A Critical Analysis of Islamic Profit Rate Swap

Waʿd refers to an expression of commitment given by one party to another to perform certain actions in the future. It is neither a contract nor an agreement. It is a unilateral promise which is not binding in nature. The…

Breach of Wa'd and Its Compensation Payment: A Critical Analysis of Islamic Profit Rate Swap

Wa'd (promise/undertaking) is used extensively in Islamic hedging arrangements. The structure of Wa'd enables each party under the Islamic hedging arrangement to be bound by its promise to execute a defined obligation at an agreed future time. The execution of…

Marketing and Promotions of Islamic Credit Cards: A Case of Malaysian Islamic Financial Institutions

Guarantee and Recourse in Sukuk Structure

Possession of Currency Prior to Sale: A Fiqhi and Practical Analysis of Spot FX-I in Malaysia

The foreign exchange market, better known as the forex or FX market, refers to a market where currencies are bought and sold. Trading volume in the global FX market was reported to average USD5.3 trillion per day in April 2013.…

Possession of Currency Prior to Sale: A Fiqhi and Practical Analysis of Spot FX-i in Malaysia

Irresponsible Financial Inclusion via Conventional Microfinance – A Lesson Islamic Microfinance Could Learn

Malaysian Islamic Financial Services Authority 2013 – The Extent of Shariah Inclusivity

A Critical Analysis Of SharīʿAh Issues In Intangible Assets

This research aims to study the concept of intangible assets from the Sharīʿah, legal and accounting perspectives; and discuss the key Sharīʿah issues with regard to recognition and measurement, financing and trading, and zakāh obligation.

Intangible Assets: An Analysis Of Shariah Issues

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Maysir in the Crude Palm Oil Futures Contract: A Critical Analysis of the Resolution of the Malaysian Securities Commission Shariah Advisory Council – Part II

This paper is a continuation of an earlier research paper titled “Gharar in the Crude Palm Oil Futures Contract: A Critical Analysis of the Resolution of the Malaysian Securities Commission Shariah Advisory Council – Part I”. Similar to the aim…

Gharar in the Crude Palm Oil Futures Contract: A Critical Analysis of the Resolution of the Malaysian Securities Commission Shariah Advisory Council—Part I

Until 2007, Malaysia was the largest producer and exporter of palm oil and palm oil products in the world. It still accounts today for 39% of world palm oil production and 44% of world export. Malaysia’s contribution to the palm…

Shari'ah Issues in Intangible Assets

Intangible assets are becoming evident in a number of Islamic financial products. Their acceptance in the Islamic financial market addresses and accommodates the pressing need to diversify the asset pool of the industry. Intangible assets have become an increasingly important…

ISRA Bloomberg Bulletin Q1 2014 - Sukuk Review

A Critical Analysis of the Resolution of the Shari'ah Advisory Council of Securities Commission Malaysia: A Case Study of the Crude Palm Oil Futures Contract

This study examines the adequacy of the SAC-SC’s contentious resolution in the light of the actual trading of crude palm oil futures contracts and the crude palm oil futures legal framework for eliminating Shari'ah violations in the trading procedure

Session 2 (Part 1) - Value-Based Intermediation: Scope and Means to actualize it in Islamic Finance – ISSF2018