INCEIF Knowledge Repository (INCEIF University)
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Collaboration to bring more women into Islamic finance
No full textThe Women On Boards (WOB) NGO has signed an MoU with the Maldives Center for Islamic Finance (MCIF) on the 19th December 2016. This MoU is part of the efforts by WOB to bring women into Islamic finance. The areas of collaboration include maintaining a register of women in Islamic finance, collaborating with the MCIF on training and awareness of Islamic finance for women, research and development and working together overall to bring women into Islamic finance. This is indeed a remarkable effort to increase female participation in the Islamic finance industry
The relevance of risk sharing for modern economies: the case of Germany 1933-35
No full textIslamic finance is often criticized for its non-practicality in today's modern economics. The principles of promoting exchange and prohibition of interest-rate based transactions are understood as endorsing risk sharing economic system is said to be incompatible in an open and modern market like today. This view was contrary to the spirit of the 2012 Kuala Lumpur Declaration, where Islamic-scholars, jurisprudents, and economists all vouched to force the enactment of risk sharing principle into our economic system ..
Malaysian higher education institutions: is the endowment fund the way forward?
No full textTertiary education plays crucial role in building a robust human capital base within a knowledge driven global economy. As such, tertiary education policy is increasingly becoming a significant national agenda in order to raise higher level employment skills in order to sustain a globally competitive research base as well as to improve knowledge dissemination to the benefit of society (OECD, 2008). Malaysia's education system has gone through an expansion in its various segments especially in the its higher education segment where it is to now focus on developing young talents. Malaysian higher education system was initially built under the Government's sponsorship before the entrance of private education institutions offering tertiary education. Nevertheless, given the unhealthy global economic state, this has imposed fiscal pressure on the Government
Islamic finance in Malaysia: policymaking and stakeholder contributions
No full textMalaysia has developed a progressive and comprehensive Islamic finance ecosystem that has grown from strength to strength over the last 30 years. The ecosystem provides a conducive and vibrant environment that is characterised by active Islamic financial markets and well-established financial infrastructure, underpinned by a sound regulatory, supervisory, legal ans Shari'ah framework, and reinforced by a skilled talent pool with global capabilities. This chapter builds on existing literature in an integrated fashion by focusing on the roles and contributions of BNM and the SC in the development of the Islamic finance industry ..
Tabung Haji run-up to Islamic finance in Malaysia
No full textAlthough Islam was introduced to South East Asia through traders in the 12th century and gained wide acceptance throughout the region in the 14th and 15th centruries (McDonnel, 1986; Ishak & Abdullah, 2012), the earliest hajj undertakings began only in 1849 (Baharudin, 2014). At that time, Malaysia then Malaya was a British colony. However, under the Pangkor Treaty of 1874, the British pledged that they would not interfere in the religion, customs and traditions of the Malays (Baharudin, 2014)
Growth and development of the Malaysian Islamic capital market
No full textCapital markets play a very important role in modern economies. Being a part of the financial sector, which they share with the banking system, capital markets have become the focus of many a governments' development plans. Most developing countries' financial sector tends to be dominated by the banking system. As countries develop, capital markets begin to take on a bigger role..
Competition - stability relationship in dual banking systems Islamic vs. conventional banks
No full textNumerous attempts have been made to study the impact of competition on banking-stability before and after the recent global financial crisis. In the rich theoretical and empirical literature on the topic, two contradictory views have surfaced, i.e. the competition-fragility view and the competition-stability view. This thesis provides empirical evidence of a nonlinear relationship between competition and stability that explains, at least partially, the conflicting results of previous theoretical and empirical studies. Furthermore, while the existing literature focuses on conventional banking, this thesis investigates both Islamic and conventional banks in dual banking systems and explores whether or not bank types affect ..
Oil price volatility and the key macroeconomic variables: empirical evidence from Morocco as a net oil importing country
No full textOil prices in the global market is usually found to be correlated with the economic growth of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between oil prices and macroeconomic variables in the Moroccan economy. Using the Moroccan monthly data from 2007-2016 and the time series techniques such as co-integration, long run structural modelling, vector error correction, and variance decomposition, we found a significant statistical relationship existing between inflation, oil price, trade balance, interest rate, and economic growth, whereby oil price and interest rate are significant macroeconomic ..
How Islamic are Islamic banks? A non-linear assessment of Islamic rate - conventional rate relations
No full textIn this paper, we perform a non-linear assessment of Islamic rate - conventional rate relations for the case of Malaysia. Using monthly data covering the period January 1999 to November 2016, we find strong evidence supporting non-linear reactions of the Islamic investment rates to conventional rates in the long run and/or short-run for all matched maturities. More precisely, the Islamic investment rates exhibit faster upward movement (slower downward movement) in responses to conventional deposit rate increases (decreases). The asymmetric pricing behaviour of Islamic banks however tends to weaken as maturity lengthens. Accordingly, we infer that Islamic banks do not rigidly peg their investment deposit rates to conventional deposit rates as some have claimed in questioning the Islamicity of Islamic banks
Islamic wealth distribution and management in Malaysia
No full textWealth management, both conventional and Islamic, is usually associated with private banking that serves the financial needs of the relatively wealthy. Maude (2006) defines it as "financial services provided to wealthy clients, mainly individuals and their families", while Mindel and Sleight (2010) look at four key areas of wealth management, namely investments and wealth accumulation, retirement and retirement income, wealth and lifestyle protection, and wealth inheritance ...
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