An Introduction to Islamic Finance: Theory and Practice

Globalization and its Challenges 355 as the subjective probability that individuals attribute to the possibility of being cheate ...

356 AN INTRODUCTION TO ISLAMIC FINANCE ■ (^) Enacting fi scal responsibility and capital market laws ■ (^) Instituting legal str ...

Globalization and its Challenges 357 to intermediaries, or to loan directly to merchant entrepreneurs on the basis of fi xed-int ...

358 AN INTRODUCTION TO ISLAMIC FINANCE raise interest rates on their loans, they enter a liability management mode by increasing ...

Globalization and its Challenges 359 These distortions need to be eliminated to minimize waste and promote effi cient resource a ...

360 AN INTRODUCTION TO ISLAMIC FINANCE suitable long - term instruments to support capital formation is mirrored in a lack of sh ...

Globalization and its Challenges 361 with a large number of existing Islamic banks and growing interest from conventional instit ...

362 AN INTRODUCTION TO ISLAMIC FINANCE to their clients. A fi nancial institution which can offer guarantees, enhance liquidity, ...

Globalization and its Challenges 363 contracts that protect the interests of all stakeholders — is similar to that of a stakehol ...

365 CHAPTER 17 Issues and Challenges A s is invariably the case in any emerging market, the Islamic fi nan- cial industry faces ...

366 AN INTRODUCTION TO ISLAMIC FINANCE TABLE 17.1 Suggestions for enhancing the Islamic fi nancial industry Islamic Banking Mone ...

Issues and Challenges 367 The development of a theoretical foundation of fi nance in Islam also needs attention. Several areas — ...

368 AN INTRODUCTION TO ISLAMIC FINANCE sum, an appreciation of the importance of risk, arbitrage pricing, and effi - cient marke ...

TABLE 17.2 Importance of institutions and legal framework for fi nancial systems Main Theoretical Arguments Empirical Research I ...

370 AN INTRODUCTION TO ISLAMIC FINANCE growth and low productivity; lagging political and institutional reforms; large and costl ...

Issues and Challenges 371 fi nancing instruments that are generated through sale contracts and leasing instruments. Informal obs ...

372 AN INTRODUCTION TO ISLAMIC FINANCE infrastructure leads to the development of fi nancial markets and fi nancial stability. T ...

Issues and Challenges 373 associations of market players for self - regulation and industry promotion such as the International ...

374 AN INTRODUCTION TO ISLAMIC FINANCE programs and promote greater adoption of its standards at the national level. The IIFM sh ...

Issues and Challenges 375 Liquidity Financial market effi ciency and resilience are determined by the depth (indi- cated by the ...