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  1. 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.…


  2. 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.…


  3. 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…


  4. 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,…


  5. 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…


  6. 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…


  7. 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…


  8. 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…


  9. 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…


  10. 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…


  11. 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…


  12. 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…


 

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