INCEIF Knowledge Repository (INCEIF University)
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Testing the financial distress prediction model for sukuk-issuing companies in Malaysia
No full textSimilar to any type of financial asset, sukuk are vulnerable to macroeconomic conditions and business cycles. In 1999, there were a series of high-profile sukuk defaults globally that tarnised the market's confidence in sukuk. Among these were the East Cameron Partners (ECP), in which the company failed to pay the periodic returns that amounted to US$166 million (Zaheer and Wijnbergen, 2013). Nakheel Sukuk of Dubai are issued by the Gulf Cooperation Council (GCC) and Malaysian companies that include Johor Corporation, Ingress Sukuk Berhad, Tracoma Holdings Berhad and Nam Fatt Corporation Berhad
Avoiding the debt trap: funding development infrastructure with risk sharing sukuk
No full textThe slides highlight: 1) funding growth without debt; 2) risk sharing contracts of Islamic finance; 3) issue and challenges
Performance analysis of takaful and conventional insurance companies in Malaysia
No full textThe slides highlight on: 1) the takaful business in Malaysia; 2) methodology used in the study; 3) the results and findings of the study
Islamic capital market: sukuk
No full textSukuk are certificates of equal value that represent ownership in tangible assets, usufruct and services, and equity of identified project (AAOIFI, FAS 17 (2010)). They present undivided pro rata ownership of underlying assets (Securities Commission Malaysia, 2011). While sukuk are generally taken to be the counterpart of bonds, they differ from conventional bonds in six basic aspects (Ariff et al., 2012). This chapter explains the sukuk structure and its changing forms. Then, the chapter turns to the discussion of sukuk, capital structure and value of the firm. Before providing a conclusion. issues and challenges faced by the sukuk market are deliberated
Islamic banking business of conventional banks: transition from windows to Islamic subsidiaries
No full textGlobally, Islamic banking grew by a compound annual growth rate of 17.3 percent between 2009 and 2014. The estimated size of the industry at the end of 2014 was given at US$2.1 trillion. This total follar value of assets held by the Islamic financial institutions is less than 2 percent of the conventional banking industry; nonetheless, this is a huge achievement, considering it started from a zero base in the 1970s (Ernst & Young, 2013). Through the rate of growth has declined in recent years, the industry has nevertheless managed to grow by more than 15 percent even during the 2009 global crisis, whereas the overall banking assets remained static and economic growth in almost all countries was negative
The impact of competition/concentration on efficiency in dual banking system
No full textIslamic banks have proliferated and emerged as important players in the global banking industry especially in the Muslim-majority countries. The recent increase in the number and market share of Islamic banks has intensified the competition in this new industry. Despite its importance, the increasing competition in Islamic banking market not only from its own Islamic peers, but also from commercial banks has not been adequately addressed nor its consequences have been investigated. This thesis aims to shed the light on this important issue by investigating the effect of competition on the efficiency of both Islamic and conventional banks ..
Risky behaviour of Islamic banks in Malaysia with special reference to credit risk
No full textThis study attempts to investigate the aggressive and highly risky financing behaviour of Islamic banks operating in Malaysia. Particular reference was given to Islamic banks' credit risk-weighted assets for the purpose of determining the state of aggressive risk-taking behaviour in relation to the level of debt financing undertaken. 15 Islamic banks operating in Malaysia were examined over a short period of four years from 2013 - 2016; primarily due to limitations afforded by Pillar 3 Disclosure availabilities. Regulatory guidelines were assessed via the Bank Negara Malaysia (BNM) 2015 Capital Adequacy Framework for Islamic Banking (CAFIB) in attempt to ..
Credit expansion and financial stability in Malaysia
No full textThis study investigated the degree of synchronization between credit expansion and financial stability in Malaysia at aggregated and disaggregated levels. The dynamic factor model and a broad range of macrofinancial variables are adopted to construct a financial stability index to measure the stability of the Malaysian financial system. The non-parametric method is subsequently employed to gauge the degree of synchronization between credit and financial stability. The empirical findings indicated a negative synchronization between business credit and financial stability in Malaysia, suggesting that an expansion in business credit would lead to financial instability. The results implied that difficulties will arise in designing policies as business credit expands. On the other hand, there is insufficient evidence to show that increasing household credit has any negative influence on Malaysian financial stability
Maqasid al Syariah as the guiding principles of the past, present and future life
No full textThe slides "Maqasid al Syariah as the guiding principles of the past, present and future life" presented by Professor Dr. Zulkarnain Muhamad Sori at the 3rd Kuala Lumpur International Islamic Studies Civilization Conference (KLIISC), Kuala Lumpur, Malaysia
Islamic finance and banking
No full textThis special symposium section of Emerging Markets Finance and Trade is on "Islamic Finance and Banking." Investment in Islamic financial instruments has increased over the years and particularly since the 2008 global financial crisis, when this industry got maximum momentum. This issue of the journal contains seven articles focused on the issues in the Islamic finance industry covering the financial instruments of equity, sukuk, banks, microfinance, fund management, which proliferated recently. The market value of Islamic financial assets is reported to reach around 1.46 trillion in 2012. This rapid growth induced several governments and policy makers in a number of developed and developing economies to identify Islamic financial industry as a key area of investment. The most notable support for investment in Islamic finance came from the address given by the president of the World Bank at the 5th Izmir Economic Congress held in 2013