"The rapid pace of progress in the Islamic financial market and investment space, coupled with the COVID-19 pandemic and its aftermath and recovery, has provided the necessary challenges to build a strong case for Islamic investment. This timely and unique book focuses on the foundations of Islamic financial markets and institutions, in the context of various products, their market application, Islamic asset management and regulation. The authors provide a thorough overview of Islamic financing instruments and markets, such as Islamic debt and equity markets, through shares and the stock market, mutual funds, private equity, lease financing, sukuk, green sukuk, money market instruments, exchange traded funds, cryptocurrencies and derivatives etc., which have emerged as alternative sources of financing. They offer insight into the numerous infrastructure institutions which have sprung up since the first decade of the new century, such as The Accounting and Auditing Organizations for Islamic Financial Institutions, Islamic Financial Services Board, Islamic International Rating Agency and International Islamic Liquidity Management Corporation as well as those being established, to satisfy different industry needs. With its uniquely competitive approach to the mainstream financial market, this book facilities a greater understanding of the concept of Islamic investment. Through a discussion of the current state and future prospects of Islamic financial markets, the book's theoretical and practical approach offers academic, practitioners, researchers, students and general readers a well-balanced overview of Islamic financial markets, its ethics, Shari'ah foundation, the instruments and operational mechanism used by Islamic capital, money and debt markets"--
This timely and unique book focuses on the foundations of Islamic financial markets and institutions, in the context of various products, their market application, Islamic asset management and regulation.
1. Understanding Principles and Concepts of Islamic Finance
2. Primary
and Secondary Markets
3. Islamic Capital Market
4. Islamic Equity Markets
5.
Investment in Islamic Mutual Funds: A Vehicle for Mobilization of Small
Savings
6. Investment in Islamic Private Equity
7. Capital Asset Pricing
Model in the Shariah Domain
8. Islamic Exchange-Traded Funds
9. Islamic Real
Estate Investment Trusts
10. Financial Futures, Stock Options, and Warrants
in the Islamic Capital Market
11. The Islamic Money Market Vis-ą-Vis the
Conventional Money Market
12. Sukuk Securities: New Ways of Debt Contracting
13. Green Sukuk Vis-ą-Vis Green Bonds
14. The Basel Standards in Relation to
Islamic Finance as an International Regulatory Framework
15. Cryptocurrency:
Shariah-Compliant Digital Currency
16. Financial Technologies in Islamic
Finance
17. International Islamic Accounting Standard-Setting Body (AAOIFI)
18. International Islamic Financial Services Board (IFSB)
19. Islamic
International Rating Agency (IIRA)
20. International Islamic Liquidity
Management Corporation (IILM)
21. Conclusion: Future of Islamic Financial
Markets
Abul Hassan is a Research Scientist II/Associate Professor in Finance at the KFUPM Business School, King Fahad University of Petroleum and Minerals, Dhahran, Saudi Arabia.
Aktham Issa AlMaghaireh is a Professor of Finance at United Arab Emirates University, Abu Dhabi, UAE.
Muhammad Shahidul Islam is a faculty member in the Department of Accounting and Finance, at the KFUPM Business School, King Fahad University of Petroleum and Minerals, Dhahran, Saudi Arabia.
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