{"product_id":"islamic-capital-markets-and-products-isbn-9781119218807","title":"Islamic Capital Markets and Products","description":"\u003cb\u003eEnsure Basel III compliance with expert analysis specific to Islamic Finance\u003c\/b\u003e \u003cp\u003e\u003ci\u003eIslamic Capital Markets and Products\u003c\/i\u003e 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. \u003c\/p\u003e\u003cp\u003eThe markets and products covered include Islamic equities, Islamic investment certificates \u003ci\u003e(Sukūk)\u003c\/i\u003e 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 laws and regulations and of Basel III, as well as collateralisation issues. Shari'ah compliance aspects, in terms both of the selection criteria for Islamic equities and of the 'purification' of impermissible components of income, are also examined in some detail, as are the implications of Basel III for eligible capital in general and for Shari'ah compliant capital instruments in particular. A similar analysis is also made of the implications of the Basel III requirements for liquidity risk management and high quality liquid assets (HQLA), including Shari'ah compliant HQLA. \u003c\/p\u003e\u003cp\u003eThe book concludes with three case studies, two describing the ICM in Malaysia and Bahrain and a third which describes Sukūk issued as Shari'ah compliant capital instruments, followed by brief concluding remarks by the editors. \u003c\/p\u003e\u003cp\u003eForeword\u003c\/p\u003e \u003cp\u003eAcknowledgments\u003c\/p\u003e \u003cp\u003eAbout the Authors\u003c\/p\u003e \u003cp\u003eChapter 1: Overview of the Islamic Capital Market\u003cbr\u003e\u003ci\u003eBy Simon Archer, Brandon Davies and Rifaat Ahmed Abdel Karim\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 2: Islamic Capital Markets and Islamic Equities\u003cbr\u003e\u003ci\u003eBy Nor Rejina Abdul Rahim\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 3: Sukuk – Unlocking the Potential for Economic Development\u003cbr\u003e\u003ci\u003eBy Dr. Sayd Farook and Redha Al Ansari\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 4: Islamic Collective Investment Schemes\u003cbr\u003e\u003ci\u003eBy Simon Archer and Brandon Davies\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 5: Legal And Regulatory Considerations Pertaining to Islamic Capital Markets\u003cbr\u003e\u003ci\u003eBy Michael J.T. McMillen\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 6: Regulatory Aspects of the Islamic Capital Market and Basel III Requirements\u003cbr\u003e\u003ci\u003eBy Musa Abdul-Basser\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 7: Shari'ah Foundations of Islamic Equity Investment Criteria and Purification of Investments\u003cbr\u003e\u003ci\u003eBy Mohamed A. Elgari\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 8: Collateralisation in Islamic Capital Markets\u003cbr\u003e\u003ci\u003eBy Richard Thomas\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 9: Eligible Capital and Capital Instruments\u003cbr\u003e\u003ci\u003eBy Brandon Davies\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 10: Regulatory Aspects of the Islamic Capital Market and Basel III Requirements – Shariah-compliant Bank Capital Instruments\u003cbr\u003e\u003ci\u003eBy Rafe Haneef\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 11: Liquidity Risk Management and High Quality Liquid Assets\u003cbr\u003e\u003ci\u003eBy Simon Archer and Rifaat Ahmed Abdel Karim\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 12: Malaysia’s Islamic Capital Markets – A Case Study\u003cbr\u003e\u003ci\u003eBy Obiyathulla Ismath Bacha and Daud Vicary Abdullah\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 13: Bahrain’s Islamic Capital Markets – A Case Study\u003cbr\u003e\u003ci\u003eBy Dr Hatim El-Tahir\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 14: Sukuk Issued as Regulatory Capital Instruments for Basel III Compliance – A Case Study\u003cbr\u003e\u003ci\u003eBy Abdullah Haron\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eChapter 15: Concluding Remarks\u003cbr\u003e\u003ci\u003eBy Simon Archer and Rifaat Ahmed Abdel Karim\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eAppendix A: Nominate Contracts Employed as a Basis for Shari’ah Compliant Financial Transactions\u003c\/p\u003e \u003cp\u003eAppendix B: A Note on Market Index Providers\u003c\/p\u003e \u003cp\u003eIndex\u003c\/p\u003e   \u003cp\u003e\u003cb\u003e SIMON ARCHER\u003c\/b\u003e is a visiting professor at the ICMA Centre, the ground-breaking collaboration between the securities industry and Henley Business School, University of Reading (also UK). In addition to teaching, he has served as a consultant to the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB). In 2010, the Central Bank of Bahrain and Kuwait Finance House - Bahrain presented Professor Archer with a special award to recognise his contributions to the field of Islamic Finance. \u003c\/p\u003e\u003cp\u003eIn addition to being co-editor of \u003ci\u003eTakaful Islamic Insurance: Concepts and Regulatory Issues\u003c\/i\u003e and co-author of\u003ci\u003e Islamic Finance: The New Regulatory Challenge, Second Edition\u003c\/i\u003e (published by Wiley), Professor Archer is also co-author of the CCH International Accounting\/Financial Reporting Standards Guide and the author of a considerable number of academic papers on international accounting and on accounting, finance, and related issues in Islamic financial institutions. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eRIFAAT AHMED ABDEL KARIM\u003c\/b\u003e was previously the CEO of the International Islamic Liquidity Management Corporation (IILM). He is a globally respected pioneer in the development of Islamic finance, and served as the inaugural Secretary General at both the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB). \u003c\/p\u003e\u003cp\u003eProfessor Karim received the 2016 Malaysian Royal Award for Islamic Finance. In addition to international recognition of his academic publications, which are mainly in tier-one international journals in the field of Islamic finance, he has garnered numerous accolades for his pioneering work, including the inaugural \u003ci\u003eEuromoney\u003c\/i\u003e Outstanding Contribution to the Development of Islamic Finance Award (2004) and the Islamic Development Bank Award for Islamic Banking and Finance (2010). He is the co-author of \u003ci\u003eIslamic Finance: The New Regulatory Challenge, Second Edition\u003c\/i\u003e and co-editor of\u003ci\u003e Takaful Islamic Insurance: Concepts and Regulatory Issues.\u003c\/i\u003e \u003c\/p\u003e\u003cp\u003eProfessor Karim is adjunct research professor at the International Centre for Education in Islamic Finance (INCEIF), The Global University of Islamic Finance, Malaysia. He is also a visiting professor at the ICMA Centre, Henley Business School, University of Reading, UK.     \u003c\/p\u003e\u003cp\u003e\u003cb\u003eThe Authoritative Road Map to Basel III Compliance in Islamic Capital Markets\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003ci\u003eIslamic Capital Markets and Products\u003c\/i\u003e is the definitive guide to the products offered in the Islamic capital markets (ICM), along with their legal and regulatory requirements. \u003c\/p\u003e\u003cp\u003eIn the near future, all Islamic financial institutions will be expected to comply with the global, voluntary regulatory framework, Basel III, by adhering to its eligible capital and liquidity risk management standards, in addition to ICM securities laws and regulations. Through the collective voice of some of the most distinguished figures in Islamic finance, this comprehensive resource examines the implications of Basel III for: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eIslamic equities, Islamic investment certificates (sukūk), and Islamic Collective Investment Schemes\u003c\/li\u003e \u003cli\u003eEligible capital and Shari'ah compliant capital instruments\u003c\/li\u003e \u003cli\u003eLiquidity risk management and high-quality liquid assets (HQLA), including Shari'ah compliant HQLA\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eShari'ah compliance is also discussed as it pertains to both of the selection criteria for Islamic equities and purification of impermissible components of income. \u003c\/p\u003e\u003cp\u003eThree illustrative case studies bring covered material to life by detailing how the ICM operates in Malaysia and Bahrain and how sukūk is issued as Shari'ah compliant capital instruments. \u003c\/p\u003e\u003cp\u003ePrepare yourself for the next growth phase of Islamic finance with \u003ci\u003eIslamic Capital Markets and Products.\u003c\/i\u003e     \u003c\/p\u003e\u003cp\u003ePraise for \u003cb\u003eIslamic Capital Markets and Products\u003c\/b\u003e   \u003c\/p\u003e\u003cp\u003e\"This new book is a further step in the relentless efforts of Prof. Datuk Rifaat and Prof. Simon Archer to further Islamic finance by making it compatible with the tenors of the conventional financial framework. This integration will offer investors who wish to abide by the rules of Islam a broader choice of financial products, thereby supporting financial inclusion in the Muslim world. The wider pool of savings will also contribute to a wider risk diversification, thereby contributing to the stability of the international financial systems. The objectives and aims of this comprehensive work remind me of the symbols on the euro banknotes: bridges spanning diversity and windows signalling openness.\"\u003cbr\u003e \u003cb\u003e—Yves Mersch,\u003c\/b\u003e Executive Board Member, European Central Bank  \u003c\/p\u003e\u003cp\u003e\"The authors, Professors Simon Archer and Rifaat Abdel Karim, have succeeded in creating greater awareness about the importance and implications of Basel III and other global prudential regulation requirements for the Islamic capital markets. The implementation of these requirements by Islamic financial institutions will ensure the sustainability of this fastest growing segment of Islamic finance. Their book \u003ci\u003eIslamic Capital Markets and Products\u003c\/i\u003e is a welcome addition to Islamic finance.\"\u003cbr\u003e \u003cb\u003e—Dr. Zeti Aziz,\u003c\/b\u003e Former Governor, Bank Negara Malaysia (2000–2016)  \u003c\/p\u003e\u003cp\u003e\"The importance of Islamic finance in the financial world is growing exponentially. The regulations which have to be provided must keep pace with the growth in its importance. This book makes a significant contribution to advancing knowledge and understanding of this regulation. It should ensure the greatest success for Islamic finance. I therefore congratulate its authors, Professors Archer and Karim, on what they have achieved and hope the book receives the success and attention it deserves. \u003ci\u003eIslamic Capital Markets and Products\u003c\/i\u003e is a much-needed authority on Islamic finance.\"\u003cbr\u003e \u003cb\u003e—Harry Woolf\u003c\/b\u003e, Former Lord Chief Justice of England and Wales (2000–2005)  \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eIslamic Capital Markets and Products\u003c\/i\u003e co-authored by Professors Simon Archer and Rifaat Ahmed Abdel Karim is coming in time with the next phase of the growth of the fastest growing sector of the Islamic financial services industry – the sukūk sector. Both authors have brought their academic and practical background and experience to address the new developments covered by Basel III in the field of global prudential regulations and their implications for Islamic capital markets. The authors have stamped indelible footprints in global regulatory standard setting initiatives for the nascent Islamic financial services industry from the time of Prof. Rifaat at the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) to the Islamic Financial Services Board (IFSB) and finally at the International Islamic Liquidity Management Corporation (IILM). With this unique combination of practice and academia from the authors, this new book is a welcome addition for students, practitioners, Shari'ah scholars and regulators of Islamic finance in general and Islamic capital markets in particular.\"\u003cbr\u003e \u003cb\u003e—Muhammad Sanusi II,\u003c\/b\u003e Emir of Kano; Former Governor, Central Bank of Nigeria (2009–2014)\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989481570533,"sku":"NP9781119218807","price":125.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119218807.jpg?v=1761784276","url":"https:\/\/k12savings.com\/es\/products\/islamic-capital-markets-and-products-isbn-9781119218807","provider":"K12savings","version":"1.0","type":"link"}