The Development of Offshore Financial Centres for Islamic Finance in the Gulf Cooperation Council:

2017 ◽  
pp. 133-166
Author(s):  
Salma Sairally ◽  
Marjan Muhammad ◽  
Shabana Hasan
Keyword(s):  
Gulf Cooperation Council ◽  
Islamic Finance

Islamic Finance as a Vehicle to Promote Improved Intellectual Property Rights in the Gulf Cooperation Council

2020 ◽  
Vol 13 (2) ◽  
pp. 407-442
Author(s):  
Nadia Naim
Keyword(s):  
Intellectual Property ◽  
Property Rights ◽  
Intellectual Property Rights ◽  
Integrated Approach ◽  
Gulf Cooperation Council ◽  
Intellectual Property Protection ◽  
Islamic Finance ◽  
Growth Sector ◽  
The Individual ◽  
The Impact

AbstractThe purpose of this article is to assess how Islamic finance can act as a vehicle to enhance the current intellectual property rights regime in the Gulf Cooperation Council (GCC). Islamic finance has developed within the constraints of sharia law and has been a growth sector for the GCC. This article will identify the main principles of Islamic finance that contribute to the success of Islamic finance, which can enhance intellectual property protection in the GCC. The main sharia-compliant areas to be considered are musharaka, mudaraba, murabaha, takaful, istisna, ijara, salam and sukuk. The article will outline the founding principles of Islamic finance, the governance of sharia boards, development of Islamic finance in the individual GCC states, different frameworks of sharia-compliant investment products and the impact of intellectual property rights on the varying Islamic finance investment tools. Furthermore, the article will discuss an integrated approach to intellectual property rights which learns lessons from the Islamic finance sector in relation to infrastructure, regulation and sharia compliance. The lessons learnt from Islamic finance will inform the overall framework of recommendations for an Islamic intellectual property model. The use of Islamic finance as a vehicle to promote better intellectual property rights in terms of defining a new intellectual property approach is novel. It is aimed at spearheading further research in this area, and it will form a part of the overall integrated approach proposals to intellectual property protection in the GCC and beyond.

Efforts to standardise Islamic finance will struggle

2017 ◽  
Keyword(s):  
Credit Markets ◽  
Gulf Cooperation Council ◽  
Islamic Finance ◽  
Content Type ◽  
Finance Industry ◽  
Regulatory Models

Significance The case highlights the dangers ‘Sharia risk’ poses for the 2-trillion-dollar Islamic finance industry. The issue is compounded by the variety of models of Sharia governance that exist across jurisdictions. Impacts The resolution of the Dana Gas case will take time, but its overall impact on the Islamic finance industry will be limited. The Gulf Cooperation Council (GCC) is moving towards more centralised Sharia governance, but faces obstacles. Even in centralised systems, heterogeneity of regulatory models is likely to persist. Difficult questions of jurisdiction and enforcement would not be addressed by a shift to more centralised national Sharia governance. The Sharia approach is already powerful in Gulf banking, but the Dana Gas case could set back its progress in credit markets.

scholarly journals Exploring Connexion between Sovereign Wealth Funds and Islamic Finance in the Gulf Countries

2018 ◽  
Vol 10 (5) ◽  
pp. 75
Author(s):  
Ashraf Mishrif ◽  
Erhan Akkas
Keyword(s):  
Decision Making ◽  
Investment Strategy ◽  
Gulf Cooperation Council ◽  
Islamic Finance ◽  
Sovereign Wealth Funds ◽  
Gulf Countries ◽  
Investment Opportunities ◽  
The Relationship ◽  
Simultaneous Growth

This study explores the relationship between the development of sovereign wealth funds (SWFs) and Islamic finance in the Gulf Cooperation Council countries. It argues that despite a simultaneous growth in both industries in the petrodollar era, there has been insignificant degree of complementary between them and the size of SWFs investments in Islamic finance is limited. Analysis attributes such divergence to the peculiarity of SWFs’ objectives, decision-making and investment strategy. Islamic finance has yet to provide low-risk long-term investment opportunities that are more attractive to SWFs than that available in the conventional market, hence bringing the industry under the funds’ radar. The study concludes by arguing that despite such limitation, both SWFs and Islamic finance have contributed to economic development and have the potential to overcome such lack of conjunction.

scholarly journals Islamic Finance and Herding Behavior Theory: A Sectoral Analysis for Gulf Islamic Stock Market

2019 ◽  
Vol 7 (4) ◽  
pp. 65 ◽  
Author(s):  
Imed Medhioub ◽  
Mustapha Chaffai
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Gulf Cooperation Council ◽  
Islamic Finance ◽  
Herding Behavior ◽  
Behavior Theory ◽  
Sectoral Analysis ◽  
Industrial Sectors ◽  
Dominant Influence

This study examines herding behavior in four sectors of the Gulf Islamic stock markets. Based on the methodology of Chiang and Zheng (2010), results showed evidence of herding among investors in major sectors for the Gulf Cooperation Council (hereinafter GCC) Islamic stock market during falling periods. In addition, we found that conventional return dispersions have a dominant influence during both falling and rising market periods. We also found evidence of herding around the conventional sectors during down market periods only in banking, hotel and restaurant sectors. There is evidence of herding around the conventional sectors during up market periods for insurance and industrial sectors.

Islamic finance

2011 ◽  
pp. 1
Author(s):  
Mahmoud El-Gamal
Keyword(s):  
Islamic Finance

The ASEAN Market: Cross-Border Collaboration in Islamic Finance between Malaysia and Thailand

2017 ◽  
Vol 04 ◽  
pp. 21-39 ◽  
Author(s):  
Sheila Ainon Yussof ◽  
◽  
Razali Haron ◽  
Keyword(s):  
Islamic Finance ◽  
Cross Border

Determinants of Corporate Risk Disclosure Practice: The Case of Islamic Banks in Gulf Cooperation Council Region

2018 ◽  
Vol 15 (1) ◽  
pp. 16-38 ◽  
Author(s):  
Samir Srairi
Keyword(s):  
United Arab Emirates ◽  
Composite Index ◽  
Gulf Cooperation Council ◽  
Risk Information ◽  
Rate Of Return ◽  
Islamic Banks ◽  
Risk Disclosure ◽  
Gulf Region ◽  
Corporate Risk ◽  
Level Of Risk

The paper develops a framework to explore the risk disclosure practices of 29 Islamic banks operating in the Gulf Cooperation Council countries over the period of 2013-2016 and examines the potential factors which might be affecting risk disclosure. To analyze the level of risk disclosure, the paper develops a composite index by using the content analysis technique. We also employ OLS technique to examine factors affecting Islamic banks’ risk disclosure. The results indicate a very high difference in risk disclosure between countries. Only two countries, the United Arab Emirates and Bahrain, have a higher level of risk disclosure. The findings also suggest that reporting on some risk disclosure types especially displaced commercial risk and rate of return risk is very low. The regression results show that Islamic banks with a stronger set of corporate governance mechanisms and an active Shariah board appear to disclose more risk information. Other factors that influence risk disclosure practices of Islamic banks are bank size, leverage, cross-border listings and the level of political and civil regression. The study recommends that Islamic banks have to revise their communication strategies and provide more risk information related to rate of return risk and display commercial risk. In addition, GCC regulators should establish risk disclosure regulations which have to become mandatory for all Islamic banks. To the best of our knowledge, the paper provides the first analysis related to the determinants of corporate risk disclosures of Islamic banks in the Arab Gulf region.

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