Description
Book SynopsisEnsure Basel III compliance with expert analysis specific to Islamic Finance Islamic Capital Markets and Products provides a thorough examination of Islamic capital markets (ICM), with particular attention to the products that they offer and the legal and regulatory infrastructure within which they operate. Since Islamic banks act as asset managers, attention is paid to the regulatory challenges which they face in the light of Basel III, as regards both eligible capital and liquidity risk management. The authors of the chapters are professionals and practitioners, and write from experience. The editors also contributed to some of the chapters.
The markets and products covered include Islamic equities, Islamic investment certificates (Sukūk) which are Shari''ah compliant alternatives to conventional bonds, and Islamic Collective Investment Schemes. The coverage of legal and regulatory issues includes an examination of the implications for ICM of securities
Table of Contents
Foreword
Acknowledgments
About the Authors
Chapter 1: Overview of the Islamic Capital Market
By Simon Archer, Brandon Davies and Rifaat Ahmed Abdel Karim
Chapter 2: Islamic Capital Markets and Islamic Equities
By Nor Rejina Abdul Rahim
Chapter 3: Sukuk – Unlocking the Potential for Economic Development
By Dr. Sayd Farook and Redha Al Ansari
Chapter 4: Islamic Collective Investment Schemes
By Simon Archer and Brandon Davies
Chapter 5: Legal And Regulatory Considerations Pertaining to Islamic Capital Markets
By Michael J.T. McMillen
Chapter 6: Regulatory Aspects of the Islamic Capital Market and Basel III Requirements
By Musa Abdul-Basser
Chapter 7: Shari'ah Foundations of Islamic Equity Investment Criteria and Purification of Investments
By Mohamed A. Elgari
Chapter 8: Collateralisation in Islamic Capital Markets
By Richard Thomas
Chapter 9: Eligible Capital and Capital Instruments
By Brandon Davies
Chapter 10: Regulatory Aspects of the Islamic Capital Market and Basel III Requirements – Shariah-compliant Bank Capital Instruments
By Rafe Haneef
Chapter 11: Liquidity Risk Management and High Quality Liquid Assets
By Simon Archer and Rifaat Ahmed Abdel Karim
Chapter 12: Malaysia’s Islamic Capital Markets – A Case Study
By Obiyathulla Ismath Bacha and Daud Vicary Abdullah
Chapter 13: Bahrain’s Islamic Capital Markets – A Case Study
By Dr Hatim El-Tahir
Chapter 14: Sukuk Issued as Regulatory Capital Instruments for Basel III Compliance – A Case Study
By Abdullah Haron
Chapter 15: Concluding Remarks
By Simon Archer and Rifaat Ahmed Abdel Karim
Appendix A: Nominate Contracts Employed as a Basis for Shari’ah Compliant Financial Transactions
Appendix B: A Note on Market Index Providers
Index
