Islamic Finance

214 Index

Liquidity Management Centre (LMC),

122

liquidity surpluses, as development

reason, 11, 31

loans, personal, 31, 33–36

London, markets and skills base, 10,

118–19, 122–23

London Metal Exchange, 9, 10

London Stock Exchange, 122

loss given default (LGD), 172

mal, 206

Malaysia, 7, 104, 115, 118, 120, 128,

189

academic programmes, 27

takafulmarket, 130–31

management personnel, 146

manufacturerssee al-saani

maqasa, 206

“market capitalization” compliance

method, 127

market-makers, 121–22

market-oriented approach, 6–7

marketing personnel, 146

maslaha, 206

“material finality” basis, 20

Maliki, 4

mergers and acquisitions, 98–99

minimum capital requirements, 170–

73

Mit Ghamr Savings Association, 7, 31

modern era of Islamic finance, 7–8

money/capital principles, 13–14

mortgages, 33, 43–52

growth in UK, 119

mu’amala(t), 207

mudaraba, 14–15, 24, 33, 103, 174,

206–07

home finance, 45

real estate/project finance, 80–81

syndicated finance, 85

mudarib, 15, 80–81, 85, 96, 108–09,

207

murabaha, 9, 15–16, 23, 34–35, 207

commodity, 141

home finance, 44–46, 50

real estate/project finance, 79

structured products, 87

trade finance, 54–58, 60–63, 103

UK tax system, 154

working capital finance, 66, 72–73

musawama,17

musharaka, 14, 103, 174, 207

diminishing, 18–19, 207

home finance, 44–45, 47–50

permanent, 207

real estate/project finance, 81–82

UK tax system, 154

working capital finance 68–69, 71–72

musharaka mutanaqisa,68

muthman, 207

Nakheel Group, 122

National Central Cooling Company,

122

National Grid Group, 171

Netherlands, tax system, 153

New Horizon, 25

news sources, 25

North America Islamic Trust, 115

North American Loan Loss Database

(NALLD), 174–175

online subscription services, 25

onward selling, 58–59

operations personnel, 146

Organization of the Islamic

Conferences, 8

overdrafts, 32, 39–40

Pakistan, 27

Pan European Credit Data

Consortium (PECDC), 174

partial loan repayment credit cards,

38

participation agreementssee

syndicated finance

participatory modes of finance, 14–15

see also mudarabaandmusharaka

permanentmusharaka, 207

permissible activities, 14

see alsohalal

personal financeseecredit cards;

current accounts; loans and

savings accounts

personal loans, 31, 33–36

policies and procedures, regulators,

165–66

policyholders,takafuloperations,

131–32

pork, businesses involving, 125