Part G Islamic Finance, 52 Harmonization and the Development of the International Islamic Financial Markets

2015 ◽  
Author(s):  
Proctor Charles
Keyword(s):  
Financial Markets ◽  
Regulatory Framework ◽  
Capital Adequacy ◽  
Islamic Finance ◽  
Standardized Documentation

This chapter focuses on the need for standardization and harmonization within the Islamic financial markets. It discusses the imperatives of standardization; the tawarruq and the sukuk as illustrations of the need for a harmonized approach; enforcement issues; the nature and scope of harmonization; standardized documentation; Shariah rulings; the regulatory framework; capital adequacy; and taxation.

scholarly journals UNDERSTANDING THE SOUTH AFRICAN FINANCIAL MARKETS: AN OVERVIEW OF THE REGULATORS

Obiter ◽  
2021 ◽  
Vol 31 (3) ◽  
Author(s):  
Lynette Swart ◽  
Vivienne A Lawack-Davids
Keyword(s):  
Financial Markets ◽  
South African ◽  
Regulatory Framework ◽  
The Body ◽  
Regulatory Environment ◽  
The South ◽  
Body Of Knowledge

This article examines the regulatory framework pertaining to the South African financial markets. The authors explain selected terminology and provide an overview of regulators in order to create an understanding of the regulatory environment to enhance transparency and add to the body of knowledge in financial markets law.

The Financial Crisis

2019 ◽  
pp. 1-12
Author(s):  
Alan N. Rechtschaffen
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Financial Markets ◽  
Economic Impact ◽  
Free Fall ◽  
Regulatory Framework ◽  
Subprime Lending ◽  
Crisis Period ◽  
The U.S ◽  
Trump Administration

This chapter discusses the origins of the 2007 financial crisis, subprime lending, and government-sponsored entities. It argues that the events driving financial markets to the precipice of collapse during the global financial meltdown gave rise to a regulatory framework that may have been a rational response to a market in free fall, but need to be reassessed in an era of recovery. In 2018, the U.S. economy may be, by many measures, viewed as wholly recovered from the economic impact of the crisis. The stock market is trading at record highs, having erased all the losses of the crisis period and then some. With this recovery, the Trump administration seeks to restrain the regulatory burden imposed during the crisis.

Part I Finance in Hong Kong, 2 Financial Regulatory Structure

2016 ◽  
Author(s):  
Arner Douglas W ◽  
Hsu Berry FC ◽  
Goo Say H ◽  
Johnstone Syren ◽  
Lejot Paul ◽  
...  
Keyword(s):  
Hong Kong ◽  
Financial Markets ◽  
Market Failure ◽  
Financial Regulation ◽  
Regulatory Framework ◽  
Regulatory Structure ◽  
Financial Centre ◽  
Markets And Institutions ◽  
The Common ◽  
Financial Regulatory

This chapter describes the overall legal and regulatory framework supporting financial markets in Hong Kong. This is developed in tandem with, and in response to, their characteristics. Regulatory reforms in the financial markets of Hong Kong have typically been developed after a financial crisis and market failure. However, while Hong Kong has not always had effective systems of financial regulation, it has been steadily strengthening its regulatory framework both for financial markets and institutions. This chapter argues that the increasing effectiveness of its legal and institutional regulatory framework has enhanced its development as an international financial centre over the past two decades and will be vital to its continued success in the future. The chapter concludes by outlining the common objectives of the Hong Kong financial regulators today.

scholarly journals New Hope for Corporate Governance in China?

2007 ◽  
Vol 191 ◽  
pp. 590-612 ◽  
Author(s):  
James V. Feinerman
Keyword(s):  
Corporate Governance ◽  
Financial Markets ◽  
Capital Markets ◽  
Regulatory Framework ◽  
Company Law ◽  
Financial Disclosure ◽  
Independent Directors ◽  
Minority Shareholders ◽  
Securities Law ◽  
Chinese Law

AbstractChina's recent revisions to its Company Law and Securities Law have brought new attention to issues of corporate governance in Chinese companies and financial markets. Among the chief criticisms of the earlier laws – in both their provisions and application – were the lack of protection for minority shareholders, the paucity of independent directors, the absence of transparency and inadequate financial disclosure. The acknowledged need for greater congruence between Chinese law and practice and that of countries with more developed capital markets led to the proposal of amendments to China's legislation during the first half of this decade. This article highlights several improvements resulting from the revisions as well as remaining weaknesses in the regulatory framework for corporate enterprises in China.

scholarly journals Loan efficiency in the Visegrad countries

2015 ◽  
Vol 65 (s1) ◽  
pp. 161-181 ◽  
Author(s):  
Kristína Kočišová
Keyword(s):  
Data Envelopment Analysis ◽  
Financial Markets ◽  
Commercial Banks ◽  
Capital Adequacy ◽  
Data Envelopment ◽  
Average Efficiency ◽  
The Past ◽  
Lending Decisions ◽  
Using Data ◽  
Visegrád Countries

Financial markets in the Visegrad countries have undergone several changes in lending business over the past decade. This study evaluates the efficiency of the largest commercial banks by focusing on their lending decisions using Data Envelopment Analysis. First, we define the concept of efficiency, then we analyse loan efficiency between 2007 and 2013. The results indicate that average efficiency declined. When we studied the loan efficiency in each country separately, we found that Hungarian banks had the lowest efficiency while the highest efficiency was achieved mainly by Czech banks. The results of the study also suggest that efficiency is positively related to profitability and capital adequacy, and negatively related to the share of non-performing loans, which confirms the bad management hypothesis.

The Impact of the Chinese Sovereign Wealth Funds (SWFs) On Sino-EU Relations: The Leverage between Investment and Human Rights

2016 ◽  
Vol 7 (2) ◽  
Author(s):  
Qingxiu Bu
Keyword(s):  
Human Rights ◽  
Financial Markets ◽  
Regulatory Framework ◽  
Capital Investments ◽  
Host Countries ◽  
Sovereign Wealth Funds ◽  
Policy Makers ◽  
Protection Of Human Rights ◽  
The Impact

AbstractSovereign wealth funds (SWFs) have been rapidly redefining the traditional paradigms, providing both much-needed capitals as well as posing particular challenges for policy makers. The role of SWFs, which are becoming increasingly involved in the global financial markets, has often been underestimated in the discourse of the protection of human rights. The tâtonnement processes of bargaining between home and host countries of SWFs indicate that the concern regarding human rights has maintained a sensible balance between protecting the rights of individuals and the benefits that large capital investments offer for both host and home countries. The challenge still remains as to whether the presumption that the promotion of SWFs investment is going to retard the promotion of human rights would not be rebutted even in terms of the new global regulatory framework.

scholarly journals Sukuk Default Regulation in Malaysia and United Arab Emirates: Comparative Analysis

2019 ◽  
Author(s):  
International Journal of Fiqh and Usul al-Fiqh Studies
Keyword(s):  
Comparative Analysis ◽  
United Arab Emirates ◽  
Capital Market ◽  
Regulatory Framework ◽  
Court Decision ◽  
Islamic Finance ◽  
Moral Hazards ◽  
Finance Industry ◽  
Market Framework ◽  
The Right

The nascent Islamic finance industry is still facing the challenges of uncertainties in legal regimes, Sharī’ah interpretations, the right of investors, and remedies in default circumstances. The event of Sukūk default is one of the significant challenges faced by the Islamic capital market. The recent Dana Gas Sukūk default triggered by Sharī’ah compliance interpretations has shown the extent of danger that moral hazards could cause to the entire Islamic finance space. Scholars have argued that the Sharī’ah-compliant arguments witnessed in the industry were because of the nature of the capital market framework of any particular jurisdiction and were not significantly Sharī’ah issues. This study aims to carry out a brief comparative analysis of the default cases in Malaysia and the United Arab Emirates (UAE). The study compares the legal jurisdiction and regulatory framework in summary-background of the judges and court decision samples based on these structures and how they have influenced Sukuk default regulations in the jurisdiction. This study employs a comparative analysis by considering fundamental elements in the regulatory framework.

Sign in / Sign up

Export Citation Format

Share Document