INCEIF Knowledge Repository (INCEIF University)
Not a member yet
1768 research outputs found
Sort by
Funding growth without debt: the case for risk sharing sukuk
No full textThe slides highlight: 1) funding growth without debt; 2) risk sharing contracts of Islamic finance; 3) issue and challenges
The Islamic capital market
No full textCapital markets play an increasingly important role in modern economies. Though a part of the financial sector which they share with the banking system, capital markets while complementing banks can enhance risk sharing and thereby minimise macroeconomic vunerability. Economists typically divide the overall macro economy into two parts, the real sector and the financial sector. The real sector represents the productive capacity of the economy and produces the goods and services that accounts for a nation's Gross Domestic Product (GDP)
An analysis of issues surrounding stock index future contracts: Malaysian evidence
No full textThe derivatives markets in the Asian region have shown significant growth and development since their inception. Similarly, derivatives market in Malaysia and Bursa Malaysia Derivatives have experienced remarkable changes and developments. This study focuses mainly on the stock index futures contract (FKLI) and its relationship with the underlying spot index (FBM KLCI). The FKLI is chosen instead of other permissible futures due to availability of the data and its relevance in the context of fund managers' asset allocation strategy. The FKLI is chosen instead of other permissible futures due to availability of the data and its relevance in the context of fund managers’ asset allocation strategy. Mainly based on intraday data, this study makes an analysis of issues on pricing efficiency, the expiration-day effects on volume and volatility, the lead lag relationship between stock index and stock index futures, in Malaysian derivatives market as a newly advanced emerging market. Based on the underlying assumption that if a mispricing were to arise, unlimited arbitrage trading would trigger the market price back to its theoretical fair value and hedging effectiveness may go down as a result of pricing inefficiency, the first essay investigates the study of pricing efficiency specifically
on the extent of mispricing by contract, evolution of mispricing, and mispricing episodes. Daily data based on the cost-of-carry model and 15-minute intraday data based on the basis model are used to address the issue of pricing efficiency. This essay fills the gap by introducing 15-minute intraday data, in addition to a larger time span of daily data. The results show variations in mispricing over time under study and provide valuable information for policymakers and fund managers as the Malaysia markets become more efficient and seem to provide a better avenue to hedge their positions and protect their investment values
Connecting people through Islamic capital market
No full textThe slides highlight: 1) an overview of the Islamic capital market (ICM); 2) how does the ICM connect people; 3) advantages of ICM regulatory development
Amana Takaful pays dividend
No full textAmana Takaful Maldives (Amana Takaful) has announced its interim dividend payment to its shareholders for the year 2017 based on its commendable performance. Amana Takaful reported a profit of MVR4.8 million (US5.13 million) were recorded, showing a notable growth with higher volumes in the leading classes
Modified reverse salam product as an innovative alternative for mobilizing fixed deposits in jurisdictions with limited Shariah compliant investment avenues to promote financial inclusion
No full textThe slides highlight: 1) jurisdictions with limited Shariah investment avenues and financial inclusion; 2) modified reverse salam product; 3) Bursa Suq Assalam platform (BSAP)
The role of Islamic asset classes in the diversified portfolios
No full textAsset allocation is a central issue for the entire asset management industry in order to achieve the best possible risk-return profile. As the current trend shifts from intra-asset allocation to inter-asset allocation, the variety of asset classes becomes a key driver in determining the overall performance of a diversified portfolio. The rationale is that each asset class conceals its unique dimensions of risk, where a mixture of multiple asset classes may expand an investment opportunity set. This leads global investors to adopt a niche approach in order to achieve positive-sum games. The increasing importance of asset classes has substantially driven innovation in the financial industry from traditional assets (i.e. equity and fixed income) into a broader range of traditional alternative assets (private equity, real estate, commodities, currency) and modern alternative assets (hedge fund and managed futures)
Administration of Labuan International Waqf Foundation (LIWF) in the Labuan IBFC: legal issues & challenges with reference to assets managed in Malaysia
No full textSince the introduction of LIWF by the LFSA in 2015, it has garnered tremendous interest from various interest from various parties for its flexibility, sustainability, and governance features. Relevant guide allows Malaysian founder or assets situated in Malaysia to be endowed into the LIWF, subject to obtaining necessary approval from the SIRC. Though the governing charter for such establishment is the Waqfiyyah itself, it has to take into consideration various ongoing issues and discussion on the forum of convenience to hear, try, and decide on dispute related to the Waqf, special position of the SIRC as the sole Mutawalli in the states in Malaysia ..
Islamic finance insolvencies under secular bankruptcy laws: a case study of Arcapita Bank under US Chapter 11
No full textLike many other financial institutions, Bahrain-based Arcapita Bank operating in the United States was hit hard by the Eurozne crisis that followed the global financial crisis. Unable to restructure its $1.1 billion debt obligations due in March 2013, the bank decided to file for Chapter 11 protection in the US Bankruptcy Court. This case study introduces Arcapita and its operations, explains the US Chapter 11 and its important aspects like debtor in possession (DIP) financing, highlights the most significant episodes of the Arcapita case, and concludes with important lessons embedded in the proceedings.
Available in physical copy only (Call Number: HG 3368 A6 I82Na
Mudarabah factoring model for SMEs
No full textThe small and medium-sized enterprises (SMEs) is an interesting sector to talk about; defining them may generate dispute as everyone sees "small" and "medium" differently, however, their importance to the economy are unanimously agreed upon. SMEs represent an essential source for economic growth, dynamics, and flexibility for both the developed countries and the developing and emerging economies. Although individually small in size, SMEs justify their crucial presence on the economy through sheer volume alone; in the Malaysian context, the SME Corp Malaysia's annual report stated that SMEs in Malaysia contribute up to 36.3% of its GDP. From that, we can see that SMEs have the potential to contribute substantially to the economy as it is able to not only strengthen existing industries but also lead to the rise of new ones