Chapter 11 Political Islam, Democracy, and Islamic Finance Development

2018 ◽  
pp. 223-237
Author(s):  
Rihab Grassa ◽  
M. Kabir Hassan ◽  
Arja H. Turunen-Red
Keyword(s):  
Political Islam ◽  
Islamic Finance ◽  
Finance Development

Potential of Islamic finance: A survey of Tunisian Northwest companies

2017 ◽  
Vol 5 (2) ◽  
pp. 28
Author(s):  
Rym Ammar Ayachi ◽  
Dhafer Saidane ◽  
Fayçal Mansouric
Keyword(s):  
Financial Institution ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Finance Development ◽  
Negative Effect ◽  
Survey Results ◽  
Potential Demand ◽  
Northwest Region ◽  
Do So

The present paper aims to assess the Islamic products potential demand for entrepreneurs in the Tunisian Northwest region. In order to do so, we developed a questionnaire which was sent to these entrepreneurs. The survey results show that the latter perceive Islamic Finance as a seductive phenomenon. However, its development appears to be difficult. Indeed, according to the survey results, the lack of knowledge may impede the expansion of Islamic banking in Tunisia. Moreover, the following factors: cost, religious conviction, proximity, flexibility and satisfaction of the needs, may affect the entrepreneurs' choice to deal with Islamic financial institution. In addition, the lack of entrepreneurs' confidence with regard to the compliance of Islamic banking with the Shariah principles has a negative effect on Islamic finance development in the Tunisian Northwest region. For this reason, Tunisian Islamic banks should put more effort to reinforce their competitiveness.

Islamic finance development and banking ESG scores: Evidence from a cross-country analysis

2020 ◽  
Vol 51 ◽  
pp. 101100 ◽  
Author(s):  
Andrea Paltrinieri ◽  
Alberto Dreassi ◽  
Milena Migliavacca ◽  
Stefano Piserà
Keyword(s):  
Islamic Finance ◽  
Finance Development ◽  
Country Analysis ◽  
Cross Country

Finance-growth nexus: Islamic finance development in Indonesia

2019 ◽  
Vol 12 (5) ◽  
pp. 698-711
Author(s):  
Ryanda Al Fathan ◽  
Tika Arundina
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Causal Relationship ◽  
Market Development ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Content Type ◽  
Finance Development ◽  
Banking Development ◽  
Finance Growth Nexus

Purpose There are many studies related to finance-growth nexus, but existing empirical evidences still have not provided conclusive result of the nature and direction of this relationship. Moreover, there are only few studies about finance-growth nexus seen from Islamic finance perspective, especially in Indonesia. Therefore, this study aims to examine the nature of causal relationship between Islamic finance development and economic growth in Indonesia seen from the development of Islamic banking, sukuk market and Islamic stock market. Design/methodology/approach By using quarterly data from 2002Q3 to 2017Q4, this study uses vector autoregressive (VAR) model, then uses granger causality and impulse response function to analyze the causal relationship between Islamic finance development and economic growth and also among three main sub-sectors of Islamic finance. Findings This study found that Islamic banking development and Islamic stock market development support neutrality hypotheses view, while sukuk market development supports supply-leading hypotheses view. Moreover, this study also found that there are unidirectional causalities from sukuk market development to Islamic banking development and from sukuk market development to Islamic stock market development. Research limitations/implications This study focuses only on the development of Islamic finance viewed from a macro perspective and only looks at how the three main sub-sectors in Islamic finance develop. In addition, the results of research related to finance-growth nexus are also sensitive to the object of research, the method and the proxies of variables used. Originality/value To the best of the authors’ knowledge, there is no study that examines the causal relationship between Islamic finance development and economic growth in Indonesia based on its three main sub-sectors simultaneously. So, this study gives empirical evidence to contribute on finance-growth nexus discussion based on three main sub-sectors of Islamic finance development in Indonesia.

scholarly journals Features And Challenges of Islamic Finance Development in Russia

2020 ◽  
Vol 06 (01) ◽  
pp. 13-21
Author(s):  
Irina Ahmed Zein Aidrous ◽  
Sofya Grigoryevna Glavina ◽  
Ravil Ramilevich Asmyatullin ◽  
◽  
Keyword(s):  
Islamic Finance ◽  
Finance Development

scholarly journals Revisiting of an Islamic Options Permisibility from Shariah Perspectives

2015 ◽  
Vol 1 (3) ◽  
pp. 175
Author(s):  
Ahmad Khaliq ◽  
Hassanudin Mohd Thas Thaker
Keyword(s):  
Risk Management ◽  
Management Strategies ◽  
Islamic Finance ◽  
Individual Investors ◽  
Management Tools ◽  
Average Growth ◽  
Derivative Instruments ◽  
Finance Development ◽  
Risk Management Strategies ◽  
Managing Risk

The popularity of derivative instruments especially in managing uncertainty (risk)had become popular after several financial crises that occurred since the Great EconomicDepression. There are various tools have been developed in managing risk such as the Options,Forwards, Futures and Swaps. In addition, these kinds of tools are commonly used by institutional and individual investors. Given this popularity, conventional risk management strategies is completely against from Islamic risk management as Islamic financial market arekeep on growing drastically at Cumulative Average Growth Rate (CAGR) of 15% on yearlybasis (Mckinsey, 2005). This is clearly shows that, Islamic finance development are in line withconventional financial development. Therefore, there is need to maintain consistency in productstructures offered by these two financial markets. The complexity is mainly contributed by thestructures and the design of the products especially on Islamic derivatives tools. Therefore, to get a significant picture of the Islamic risk management tools, this paper will only examines thecontemporary derivative instruments namely; Option and the Islamic viewpoints of thisinstrument . As we know, Islamic finance is governed by Shariah principle and guidelines whichprohibit Riba, Gharar, and Masir etc. Therefore, this paper attempts to explore the validity ofoptions from Islamic and Shariah perspectives by reviewing Islamic scholars opinions on anoptions market.

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