scholarly journals Risk Management Disclosure In Malaysian Islamic Financial Institutions: Pre- And Post-Financial Crisis

2013 ◽  
Vol 29 (2) ◽  
pp. 419 ◽  
Author(s):  
Rosnadzirah Ismail ◽  
Rashidah Abdul Rahman ◽  
Normah Ahmad
Keyword(s):  
Risk Management ◽  
Financial Crisis ◽  
Financial Institutions ◽  
Islamic Law ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Risk Disclosure ◽  
Font Size ◽  
Islamic Financial Institutions ◽  
The Global Financial Crisis

<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none; mso-hyphenate: none;" class="MsoNormal"><span style="font-family: Times New Roman;"><span lang="EN-GB" style="color: black; font-size: 10pt; mso-ansi-language: EN-GB; mso-fareast-language: AR-SA; mso-themecolor: text1;">The East Asian financial crisis in 1997 and later the global financial crisis in 2007 and 2008 had a big impact on the corporate world as many companies and financial institutions collapsed during that period.<span style="mso-spacerun: yes;"> </span>Poor governance systems and lack of transparency in reporting including lack of risk reporting and disclosure were blamed as the roots of the problem.<span style="mso-spacerun: yes;"> </span></span><span style="color: black; font-size: 10pt; mso-fareast-language: AR-SA; mso-themecolor: text1;">Conventional financial institutions have widely practiced risk management within their organization, but it is still under-developed in Islamic financial institutions due to new emerging market and unique business structures which are based on Shariah or Islamic law.<span style="mso-spacerun: yes;"> </span>Therefore, t</span><span lang="EN-GB" style="color: black; font-size: 10pt; mso-ansi-language: EN-GB; mso-fareast-language: AR-SA; mso-themecolor: text1;">his study examined the risk management disclosure by all 17 Islamic financial institutions in Malaysia from 2006 to 2009, covering the period before, during, and after the global financial crisis.<span style="mso-spacerun: yes;"> </span>A disclosure checklist consists of mandatory and voluntary items developed to measure the level of risk disclosure.<span style="mso-spacerun: yes;"> </span>The descriptive result shows the risk management disclosure among the Islamic Financial Institutions was satisfactory.<span style="mso-spacerun: yes;"> </span>Analysis for a four year period revealed that the risk disclosure has greatly improved before and after crisis indicating that Islamic Financial Institutions have taken the necessary steps to improve their disclosure.</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>

A Discussion of Aida H. Hozic and Jacqui True’s Scandalous Economics: Gender and the Politics of Financial Crises

2017 ◽  
Vol 15 (2) ◽  
pp. 503-504
Author(s):  
Dara Z. Strolovitch
Keyword(s):  
Political Economy ◽  
Financial Crisis ◽  
Financial Institutions ◽  
Financial Crises ◽  
Global Financial Crisis ◽  
Economic Order ◽  
Macroeconomic Models ◽  
Gender And Race ◽  
Back Cover ◽  
The Global Financial Crisis

“Critical analyses of the global financial crisis of 2008 (GFC) have neglected the ways in which structural inequalities around gender and race factor into (and indeed make possible) the current economic order. Scandalous Economics breaks new ground by arguing that an explicitly gendered approach to the GFC and its ongoing effects can help us to understand both the root causes of the crisis and the failure to significantly reform financial institutions and macroeconomic models.” These words, from the blurb on the back cover of Scandalous Economics, nicely summarize the book’s topic and the general approach to it. Because the book contains contributions from a number of the top political scientists writing about the gendering of political economy, and because this topic is such an important one, we have invited a range of political scientists to comment on the book and on the broader theme of the gendering of political economy.

A Discussion of Aida H. Hozic and Jacqui True’s Scandalous Economics: Gender and the Politics of Financial Crises

2017 ◽  
Vol 15 (2) ◽  
pp. 511-512
Author(s):  
Daniel W. Drezner
Keyword(s):  
Political Economy ◽  
Financial Crisis ◽  
Financial Institutions ◽  
Financial Crises ◽  
Global Financial Crisis ◽  
Economic Order ◽  
Macroeconomic Models ◽  
Gender And Race ◽  
Back Cover ◽  
The Global Financial Crisis

“Critical analyses of the global financial crisis of 2008 (GFC) have neglected the ways in which structural inequalities around gender and race factor into (and indeed make possible) the current economic order. Scandalous Economics breaks new ground by arguing that an explicitly gendered approach to the GFC and its ongoing effects can help us to understand both the root causes of the crisis and the failure to significantly reform financial institutions and macroeconomic models.” These words, from the blurb on the back cover of Scandalous Economics, nicely summarize the book’s topic and the general approach to it. Because the book contains contributions from a number of the top political scientists writing about the gendering of political economy, and because this topic is such an important one, we have invited a range of political scientists to comment on the book and on the broader theme of the gendering of political economy.

scholarly journals An Investigation into the Fundamental Drivers of Pricing of Residential Mortgage Products – A Risk Pricing Viewpoint

2010 ◽  
Vol 10 (4) ◽  
pp. 60-72
Author(s):  
Harry M Karamujic
Keyword(s):  
Financial Crisis ◽  
Interest Rates ◽  
Financial Institutions ◽  
Global Financial Crisis ◽  
Exact Science ◽  
Residential Mortgage ◽  
Risk Pricing ◽  
Price Risks ◽  
The Global Financial Crisis ◽  
Underlying Theme

Residential mortgage products (also known as home loans) pricing has been long understood to be something of a ‘dark art’, requiring judgment and experience, rather than being an exact science. In the last decade, a lot has changed in this field and more and more lenders, primarily the larger lenders, are increasingly looking to make their pricing as exact as possible. Even so, inadequate pricing of residential mortgage products (in particular its substandard risk pricing) has been seen as one of major causes of the global financial crisis (GFC) and subsequent spectacular banking collapses. The underlying theme of the paper is to exhibit how contemporary lenders, in practice, price their residential mortgage products. While discussing elements of the pricing calculation particular attention was given to the exposition of how contemporary lenders price risks involved in providing home loans. Because of the importance of Basel capital accords to how financial institutions assess and quantify their risks, the paper provides an overview of Basel capital accords. The author envisages that the paper will (i) help enhance comprehension of the underlying elements of the pricing calculation and the ways in which these elements relate to each other, (ii) scrutinize how contemporary lenders identify and quantify risks and (iii) improve consciousness of future changes in interest rates

scholarly journals Financial phantasmagoria: corporate image-work in times of crisis

Organization ◽  
2011 ◽  
Vol 18 (2) ◽  
pp. 153-172 ◽  
Author(s):  
Christian De Cock ◽  
Max Baker ◽  
Christina Volkmann
Keyword(s):  
Financial Crisis ◽  
Financial Institutions ◽  
Global Financial Crisis ◽  
Financial Institution ◽  
Corporate Image ◽  
Limited Capacity ◽  
Determining Set ◽  
Words And Images ◽  
Set Up ◽  
The Global Financial Crisis

Our purpose in this article is to relate the real movements in the economy during 2008 to the ‘image-work’ of financial institutions. Over the period January—December 2008 we collected 241 separate advertisements from 61 financial institutions published in the Financial Times. Reading across the ensemble of advertisements for themes and evocative images provides an impression of the financial imaginaries created by these organizations as the global financial crisis unfolded. In using the term ‘phantasmagoria’ we move beyond its colloquial sense of a set of strange images designed to dazzle towards the more technical connotation used by Rancière (2004) who suggested that words and images can offer a trace of an overall determining set-up if they are torn from their obviousness so they become phantasmagoric figures. The key phantasmagoric figure we identify here is that of the financial institution as timeless, immortal and unchanging; a coherent and autonomous entity amongst other actors. This notion of uniqueness belies the commonality of thinking which precipitated the global financial crisis as well as the limited capacity for control of financial institutions in relation to market events. It also functions as a powerful naturalizing force, making it hard to question certain aspects of the recent period of ‘capitalism in crisis’.

scholarly journals Islamic finance and the global financial crisis: an empirical study

2021 ◽  
Vol 3 (3) ◽  
pp. 62-69
Author(s):  
Fadwa Errami ◽  
Jamal Abnaha
Keyword(s):  
Financial Institutions ◽  
Global Economy ◽  
Islamic Law ◽  
Global Financial Crisis ◽  
The United States ◽  
Muslim World ◽  
Islamic Finance ◽  
Islamic Banks ◽  
Islamic Financial Institutions ◽  
The Global Financial Crisis

Islamic finance can no longer be dismissed as a passing fad or as an epiphenomenon of Islamic revivalism. Islamic financial institutions now operate in over 70 countries. Their assets have increased more than fortyfold since 1982 to exceed $200 billion. In 1996 and 1997, they have grown at respective annual rates of 24 and 26 per cent.1 By certain (probably overly optimistic) estimates, up to half of the savings of the Islamic world may in the near future end up being managed by Islamic financial institutions. The first Islamic banks were created in the 1970s, at the time when the aggiornamento of Islamic doctrine on banking matters was taking shape. At the time, Islamic banks were typically commercial banks operating on an interest-free basis. Today, as a consequence of broad changes in the political–economic environment, a new generation of Islamic financial institutions, more diverse and innovative, is emerging as the doctrine is undergoing a new aggiornamento. Perhaps the most important development has been the growing integration of Islamic finance into the global economy. There is now a Dow Jones Islamic Market Index, which tracks 600 companies (from inside and outside the Muslim world) whose products and services do not violate Islamic law. Foreign institutions such as Citibank have established Islamic banking subsidiaries, and many conventional banks – in the Muslim world but also in the United States and Europe – are now offering ‘Islamic products’ that are sometimes aimed at non-Muslims.

Editorial: Remittances and the global financial crisis

2014 ◽  
Vol 7 (2) ◽  
pp. 125-131 ◽  
Author(s):  
Dilip Ratha ◽  
Ibrahim Sirkeci
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Special Issue ◽  
Migration Patterns ◽  
External Finance ◽  
Patterns Of Use ◽  
Migrant Remittances ◽  
Remittance Flows ◽  
Current Financial Crisis ◽  
The Global Financial Crisis

Migrant remittances are an important source of external finance for developing countries. The current financial crisis is believed to have influenced migrant remittance flows as well as volume and patterns of use of remittances. In this special issue, a collection of cases from around the world is presented to understand the immediately felt effects of the crisis. Potential influences due to the crisis impact on migration patterns are yet to be seen and studied.

Sign in / Sign up

Export Citation Format

Share Document