Stand and Default: Sukuk Defaults Bring Innovative Restructuring Approaches to the Islamic Finance Industry

2010 ◽  
Author(s):  
Mohammed Khnifer
Keyword(s):  
Islamic Finance ◽  
Finance Industry

General Takaful claims: An experience of Takaful operator in Malaysia

2017 ◽  
Vol 5 (4) ◽  
pp. 18
Author(s):  
Amirul Afif Muhamat ◽  
Mohamad Nizam Jaafar ◽  
Sharifah Faigah Syed Alwi
Keyword(s):  
Life Insurance ◽  
Islamic Finance ◽  
Rigorous Analysis ◽  
Finance Industry ◽  
General Insurance ◽  
Bright Side ◽  
Main Components ◽  
Islamic Insurance ◽  
Gathering Data ◽  
Observation Period

Takaful is interchangeably referred as Islamic insurance. In Malaysia, the takaful sector is part of the main components for Islamic finance industry. The business can be divided into two: general and family takaful. To ease understanding on this niche sector; general takaful is comparable to general insurance while family takaful is akin to life insurance with special reference needs to be given on the requirement of the business to adhere to the Islamic precepts. The main business in general takaful is motor takaful and this line of business is faced with high takaful claims. This study appraised the factors which affect the general takaful claims based on the experience of one takaful operator in Malaysia (the name of takaful operator is not disclosed due to confidentiality). The factors are: number of claims; fraud; and coverage for protection. The limitation of this study is that the observation period is only 10 years which limits rigorous analysis to be done. Nevertheless, previous studies in this area depict the same limitation – constraint in gathering data that has long observation period. On the bright side, the data in this study is still capable to produce meaningful results to be referred with regards to this issue – general takaful claims.

Religiosity, Neglected Risk and Asset Returns: Theory and Evidence from Islamic Finance Industry

2019 ◽  
Author(s):  
Saad Azmat ◽  
Haiqa Ali ◽  
A. S. M. Sohel Azad ◽  
M. Kabir Hassan
Keyword(s):  
Asset Returns ◽  
Islamic Finance ◽  
Finance Industry

A HYBRID REVIEW OF ISLAMIC PRICING LITERATURE

2021 ◽  
pp. 1-33
Author(s):  
MD. ABDULLAH AL MAMUN ◽  
M. KABIR HASSAN ◽  
MD. ABUL KALAM AZAD ◽  
MAMUNUR RASHID
Keyword(s):  
Content Analysis ◽  
Bibliometric Analysis ◽  
Research Collaboration ◽  
Islamic Finance ◽  
Critical Importance ◽  
Finance Industry ◽  
Islamic View

During the last decade, studies on Islamic pricing (IP) have received considerable attention from researchers and academicians. Given the growing popularity of IP, this study critically examines IP literature using a hybrid review — bibliometric analysis with content analysis. In addition to that the Islamic view of pricing based on the principles of Quran and Sunnah is also examined. The bibliometric results show that IP literature demonstrates a low productivity, low citations ratio, and high research collaboration. The content analysis identifies that the pricing methods, mechanisms, considerations and other industries except Islamic finance industry, are still under-researched. This study is of critical importance because it simultaneously shows the evolution of IP and explores new dimensions of it.

scholarly journals Artificial Intelligence, Smart Contract and Islamic Finance

2018 ◽  
Vol 14 (2) ◽  
pp. 145 ◽  
Author(s):  
Siti Rohaya Mat Rahim ◽  
Zam Zuriyati Mohamad ◽  
Juliana Abu Bakar ◽  
Farhana Hanim Mohsin ◽  
Norhayati Md Isa
Keyword(s):  
Artificial Intelligence ◽  
Computer Code ◽  
Islamic Finance ◽  
Human Intelligence ◽  
Human Beings ◽  
Finance Industry ◽  
Smart Contract ◽  
Huge Impact ◽  
Block Chain

This study examines the two important aspect of latest technology issues in Islamic finance that related to artificial intelligence (AI) and smart contract. AI refers to the ability of machines to understand, think, and learn in a similar way to human beings, indicating the possibility of using computers to simulate human intelligence. Smart contract is a computer code running on top of a block-chain containing a set of rules under which the parties to that smart contract agree to interact with each other. The main objectives of this article are to evaluate the operations of AI and smart contract, to make comparison between the operations of AI and smart contract. This article concludes that AI and smart contract will have a huge impact in future for Islamic Finance industry.

Building trust in Islamic finance products and services

2017 ◽  
Vol 12 (3) ◽  
pp. 356-372 ◽  
Author(s):  
Syed Nazim Ali
Keyword(s):  
Financial Services ◽  
Islamic Finance ◽  
Illustrative Case ◽  
Content Type ◽  
Finance Industry ◽  
The Past ◽  
Building Trust ◽  
Central Tenet ◽  
Stake Holder ◽  
Perceived Impact

Purpose With the increasing instances of malfeasance and frauds coming to light in the financial services industry, trust has become a key concern for customers. Fortunately, in the case of Islamic Finance, trust is a central tenet, and its importance can be seen through the emphasis of Amanah or trustworthiness that should be present in every financial transaction. However, it has been argued that the principle of trust has not been truly realized in Islamic Finance, or that there are still issues of distrust regarding anything which is obtrusively branded as “Islamic”. In this paper, the author will analyze the reasons for gaps between the expectations and reality of the finance industry today by looking at the main factors contributing to distrust among the different stakeholders and the perceived impact of the distrust on the industry and the general public. It then focuses on the past and ongoing efforts by academia to bridge these gaps between the different stake holder groups with the help of illustrative case studies as well as recommends future steps to be taken to ensure a stronger foundation of trust within the Islamic Finance community.

scholarly journals Yasushi Suzuki and Mohammad Dulal Miah (Editors) Dilemmas and Challenges in Islamic Finance – Looking at Equity and Microfinance Routledge, London, 2018, pp. 216

2019 ◽  
Vol 32 (1) ◽  
pp. 173-178
Author(s):  
Tariq Aziz Tariq Aziz
Keyword(s):  
Governance Structure ◽  
Islamic Finance ◽  
Finance Industry ◽  
The Past ◽  
Sustained Growth ◽  
Equity Finance

Islamic finance has witnessed a phenomenal growth during the past couple of decades. However, this remarkable growth has also been accompanied by some challenges and dilemmas. Islamic finance today is at the crossroads where resolving these issues is a prerequisite for its future sustained growth. The current book under review, edited by Yasushi Suzuki and Muhammad Dulal Miah, highlights and discusses some of the issues and dilemmas the Islamic finance industry is facing today. The book comprises of 11 Chapters divided into three parts. Part I deals with the dilemmas related to the prohibition of ribā and gharar. Part II elaborates on the challenges related to Islamic equity finance and microfinance and Part III is devoted to the discussion of the dilemmas and challenges related to the governance structure of Islamic finance. This article reviews and critically evaluates the aforementioned book.

scholarly journals Analisis Rasch Pada Atribut Perbankan Syariah: Studi pada Generasi Milenial

2019 ◽  
Vol 5 (3) ◽  
pp. 145
Author(s):  
Anggiya Rossana ◽  
Egi Arvian Firmansyah
Keyword(s):  
University Students ◽  
Market Share ◽  
Rasch Analysis ◽  
Primary Data ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Banking Services ◽  
Finance Industry ◽  
Potential Customers

The presence of Islamic banking in Indonesia is one form of progress and development of the Islamic finance industry in Indonesia. However, for more than 20 years, Islamic banking has apparently not been able to grow optimally and experienced a slowdown in its growth. Islamic banks need to increase their market share and also need to identify which attributes are most considered by the potential customers, especially the millennials whose number is large. This study aims to find out which attributes are most considered in using Islamic banking services. This study uses primary data by distributing online questionnaires to 180 university students in Bandung, namely Unpad, ITB and UPI students. To analyze the data, Rasch analysis was used. The results of Rasch analysis show that cleanliness, friendliness, and Islamic principles turned out to be the most considered attributes in selecting Islamic banking in Indonesia. Given that these three attributes are the most considered, it is expected that Islamic banking strengthen these three aspects in order to increase the market of Islamic finance industry markets.

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2016 ◽  
Vol 1 (2) ◽  
pp. 215
Author(s):  
Hatta Syamsuddin ◽  
Abdul Khaliq Hasan ◽  
Moh Muinudinillah
Keyword(s):  
Supervisory Board ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Finance Industry ◽  
Islamic Jurisprudence ◽  
Banking Business ◽  
Rules And Principles ◽  
Muslim Communities ◽  
Financial Transactions

The emergence of Islamic banking was considered as a response to the desire of Muslim communities to disassociate from usury (riba-based) system. The development of time increasing the diversity of financial transactions, both in trading and banking business, which has no provisions in the old sources of Islamic jurisprudence. This dangerous phenomenon was the reason for the importance of a Sharia Supervisory Board to ensure all of the banking transactions comply with the rules and principles of sharia. This research focused on the role of National Sharia Board and his methodology in the fatwa. This research uses analytical descriptive methodology. The limitations of this research were about: how the National Sharia Board played their roles in Indonesia and how the method applied by the National Sharia Board in issuing a fatwa. The research found that: the National Sharia Board in Indonesia has played their roles, especially in developing Islamic finance industry, ensuring financial and banking transaction comply with the rules and principles of sharia, and providing awareness and guidance to the Muslim communities. The issuing of fatwa on financial transactions was the authority of the National Sharia Board. The National Sharia Board hold on procedures, specific steps, and certain agreed methodology in issuing the fatwa. Nevertheless, there still some fatwas that caused controversy in the Islamic community

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