INCEIF Knowledge Repository (INCEIF University)
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The impact of spelling variations of Islamic finance terminology on segmenting the body of knowledge
No full textThe purpose of this study is to initiate a drive towards standardisation of Islamic finance terminology for academic use, encourage the use of search engine data in Islamic finance research and create a methodology for choosing research keywords special to Islamic finance. Islamic finance terminology is defined for the purposes of this study as the Arabic/Islamic terms unique to Islamic finance literature written in English. Because of its organic evolvement across different geographical regions, there is no standard spelling of these Islamic finance terms (IFTs) ...
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Banking for sustainability: the policy, regulatory and financial case for action
No full textIn today’s increasingly challenging era, the financial sector has a significant role in catalysing the global transition to sustainable development and shared prosperity. Sustainability can be practiced from the inside (financial institutions’ internal operation) to the outside (financial institutions’ financing and investment). Yet, can banks do well while doing good? Does a bank that improves its economic, environmental, social and governance performance increase, decrease, or leave unchanged its financial performance? Is the banking sector up to the challenge as the steward of long-term capital, preserving and enhancing different types of capital in the value creation process
Mergers & acquisitions announcement patterns: the Malaysian experience
No full textIn the last decade, Malaysia has witnessed a growing number of corporate takeover exercises. The growth in the asset management industry meant that the role of institutional investors have become more important in these corporate takeovers. Neither the synergistic gains hypothesis nor the information effect hypothesis were able to fully explain the market responses to takeover announcements and the gains derived from corporate acquisitions on whether the offer is successful ..
The effects of financial development, economic growth on income inequality: empirical evidence from OIC countries
No full textIncome inequality isn't new thing, but recently it has made it presence in news, political discussions etc. It has now become the key and defining challenge of our time. Both the developed and developing countries have reported massive amount of income disparities within their respected countries. In this paper we study the links and effects of the macroeconomic variables especially economic development and financial development on income inequality. We restrict our study to OIC countries. Simon Kuznet hypothesis is taken as the theoretical basis for this study ..
Statistical microeconomics and commodity prices: theory and empirical results
No full textA review is made of the statistical generalization of microeconomics by Baaquie (Baaquie 2013 Phys. A 392, 4400-4416. (doi:10.1016/j.physa.2013.05.008)), where the market price of every traded commodity, at each instant of time, is considered to be an independent random variable. The dynamics of commodity market prices is given by the unequal time correlation function and is modelled by the Feynman path integral based on an action functional. The correlation functions of the model are defined using the path integral. The existence of the action functional for commodity prices that was postulated to exist in Baaquie (Baaquie 2013 Phys. A 392, 4400-4416. (doi:10.1016/j.physa.2013.05.008)) has been empirically ascertained in Baaquie et al. (Baaquie et al. 2015 Phys. A 428, 19-37. (doi:10.1016/j.physa.2015.02.030)). The model's action functionals for different commodities has been empirically determined and calibrated using the unequal time correlation functions of the market commodity prices using a perturbation expansion (Baaquie et al. 2015 Phys. A 428, 19-37. (doi:10.1016/j.physa.2015.02.030)). Nine commodities drawn from the energy, metal and grain sectors are empirically studied and their auto-correlation for up to 300 days is described by the model to an accuracy of R2>0.90 using only six parameters
The Maldives: a trailblazer for Islamic finance in South Asia?
No full textOne of the most interesting aspects that is noteworthy when discussing the Islamic finance industry in the Maldives is that the growth of Islamic finance and the halal industry in the country happened at an extremely fast pace and with government participation and facilitation. In 2003, the country witnessed the first form of Islamic finance when Amana Takaful Maldives was set up. However, at that point in time, only a handful of people knew the significance and the meaning of the word Takaful, aside from the name of the company
INCEIF drives increasing recognition of Islamic finance's social benefits
No full textINCEIF - The Global University of Islamic Finance - organised a two-day executive education programme titled ‘Why Islamic Finance Makes Business Sense’ - in Tortola, British Virgin Islands. At the request of the Financial Services Commission of the British Virgin Islands, the INCEIF senior team led by its President & CEO Mr Daud Vicary Abdullah, Deputy President Academic Prof Datuk Dr Syed Othman Alhabshi, INCEIF Chair of Islamic Finance Prof Dr Abbas Mirakhor and Director Centre of Research & Publication Assoc Prof Dr Baharom were on ground to provide insight into how Islamic finance creates equitable economic growth
Monetary policy and bank lending in a dual banking system
No full textThe slides highlight: 1) an overview of bank lending channel; 2) the importance of bank lending channel to Islamic banks; 3) the results of the study
Monetary policy, business cycle and bank lending
No full textThe slides highlight: 1) an overview of bank lending channel; 2) the importance of bank lending channel to Islamic banks; 3) the results of the study
A purchasing price parity and equilibrium exchange rate: an empirical study of twelve arab countries (MENA region)
No full textThis research aims to examine the exchange rate regimes of 12 MENA countries. The sample is composed of the 6 GCC oil exporting countries, most of which have pegged their currency to the US dollar, and another 6 Arab countries that have different exchange rate regimes. The objective of the study is to determine the extent of over and undervaluation of these MENA currencies. The results show that official peg to the US dollar does not reduce the amount of deviation from the equilibrium exchange rate. Also, countries which had their currency pegged to a basket of currencies had lower currency fluctuations than others ..