Islamic Finance in Europe

By combining legal analysis with statistical description of existing practices and social demand, this book provides an exhaustive account of the current potential of Islamic finance in Europe.

Islamic Finance in Europe

Author: Mohyedine Hajjar

Publisher: Springer

ISBN: 3030040941

Page: 338

View: 825

Information about Islamic finance in European countries is usually provided by professional-style reports, offering practical data on implementation of standardized products. However, precise developments about material legal provisions applicable to contracts and their actual legal regime are not often detailed. In order to fill this gap, 15 researchers from across Europe contributed to this project. They describe the state of actual Islamic finance in 10 European countries, as well as applicable EU law. By combining legal analysis with statistical description of existing practices and social demand, this book provides an exhaustive account of the current potential of Islamic finance in Europe.

Islamic Finance in Europe

Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different ...

Islamic Finance in Europe

Author: Valentino Cattelan

Publisher: Edward Elgar Publishing

ISBN: 1781002517

Page: 247

View: 926

Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different conceptions of economic justice(s) co-exist and influence each other. The contributing authors analyse key economic development and social integration issues from an Islamic perspective and outline the European approach to accommodating Islamic finance, with particular regard to the peculiarities of individual nation-states. Set in this context, the book presents financial pluralism as a device to enhance a level playing field in the global marketplace, as well as to foster a plural open society. Providing a comprehensive and methodological guide to Islamic finance in Europe, this book will prove an illuminating and informative read for academics, students and policymakers with an interest in the impact on financial regulation of an increasingly globalized world.

Islamic Banking and Finance in Europe the Case of Germany and United Kingdom

Fundamentals of Islamic Economics - Islamic Banking - Islamic Finance Instruments - Risk Management in Islamic Finance - Islamic Finance in Western Europe - Islamic Banking in Germany

Islamic Banking and Finance in Europe  the Case of Germany and United Kingdom

Author: Muhammad Ashfaq

Publisher: PL Academic Research

ISBN: 9783631733219

Page: 220

View: 711

The author analyses what the prospects of success for an Islamic mode of banking and finance in Germany are at the retail level. The study reveals that two-thirds of respondents were willing to switch to Islamic banking, Giro and savings bank accounts. Mortgage financing products and services were most desired by the German respondents.

Islamic Finance in Europe

This is the reason why many world capitals undertook, very early, to adapt their legislation to attract this financial windfall.

Islamic Finance in Europe

Author: Djibril Ndoye

Publisher: Livres Du Monde

ISBN: 9781543989977

Page: 130

View: 437

"We will adapt our legal environment so that the stability and innovation of our financial center can benefit Islamic finance." These words of Christine Lagarde, former French Minister of Economy reflect Islamic finance interest today in European countries. This type of finance could yield 100 million millions for France as indicated by the report of Jouini-Pastré (2008) entitled "Challenges and opportunities of the development of Islamic finance for the Paris financial centre: Ten proposals to collect 100 million millions". Reading the title of this report, one can quickly grasp the extent of the economic challenge that Islamic finance represents for the countries of the European Union. What is certainly a pity is that it took a financial crisis for Islamic finance to be propelled to the forefront of the European economic scene when we have had almost over a century of Muslim presence in Europe. It is thus fair to ask the question whether this legal and fiscal adaptation to accommodate Islamic finance is actually made to serve the European population of Muslim faith, who today represent 5% of the population of the European Union and who aspire financial products more in line with their religious beliefs. Demographers even predict that in 2050, 20% of the population of Europe will be Muslim. Is it not Europe's duty to adapt its financial system so that all its citizens can exchange while respecting their values? The reality is different today. Indeed, the economies of the developed countries (including the European countries), especially in the context of the global financial crisis, have more than ever a need for financing if they want to maintain a certain level of growth in their countries, preserve jobs in their businesses and continue to invest in the infrastructure of tomorrow. This is the reason why many world capitals undertook, very early, to adapt their legislation to attract this financial windfall. In Germany, the United Kingdom and even more so in France, with more than 6 million Muslims, there is a demand for Islamic financial products, both for the financing of private real estate investments and for investments in accordance with the precepts of the Koran. We could have been spared the subprime crisis as well as the sovereign debt crisis in Europe and the exacerbated volatility of the financial markets, of commodities and of foodstuffs would have been significantly reduced if Western countries had been inspired somewhat by the spirit of Islamic finance. On the supply side, some factors are favorable, but others are still holding back its growth. In 2018, Islamic finance was estimated at nearly US $ 2400 million millions in assets and its growth in the next five years was reported to be twice as fast as that of conventional finance.Also, only 50% of the potential market of the Islamic financial industry is currently (2019) exploited (an estimated potential of US $ 4,000 million millions). The first part of this book is a reminder of the different stakes of Islamic finance for European states in a global post-financial crisis context. A second part will try following a chronological study to draw up an inventory of Islamic finance in Europe through the study of different leading countries on the subject: the case of United Kingdom, the case of Turkey, the case of Germany and the case of France, without forgetting other European Union countries. Finally, the third part will focus on the supply of products and services in a market whose growth potential is still very untapped considering current innovation wave in the field of islamic finance fintech, blockchain and cryptocurrencies.

Islamic Economics and Finance

In June 2010 IE Business School, with King Abdulaziz University, gathered in Madrid some of the world's foremost scholars, academics and practitioners of Islamic Economics and Finance.

Islamic Economics and Finance

Author: J. Langton

Publisher: Springer

ISBN: 0230361137

Page: 191

View: 451

In June 2010 IE Business School, with King Abdulaziz University, gathered in Madrid some of the world's foremost scholars, academics and practitioners of Islamic Economics and Finance. These highlights of the symposium and original articles specifically address the post-crisis application of this growing and relevant economic philosophy in Europe.

Islamic Finance

This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis.

Islamic Finance

Author: Tina Harrison

Publisher: Springer

ISBN: 3319309188

Page: 192

View: 448

This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis. Drawing on a range of international perspectives from the Gulf Cooperation Council countries, Malaysia, Pakistan, Australia and Europe, this book explores the characteristics and performance of Islamic finance and banking and discusses future prospects. It offers a comprehensive theoretical framework for Shariah governance in Islamic financial institutions, explores Shariah-compliant equities, as well as issues in productivity, technology and efficiency. It includes a number of comparative studies on Islamic and conventional banks, Islamic and conventional unit trusts, and Islamic and conventional banks’ product mixes. The challenges and opportunities for the expansion of Islamic finance and banking into Europe are explored through the contexts of the UK, Germany and Italy.

Islamic Finance Practices

This book discusses carefully selected topics in Islamic banking and finance (IBF) in South Eastern Europe (SEE) as one of the fastest growing areas in global finance.

Islamic Finance Practices

Author: Velid Efendic

Publisher: Springer Nature

ISBN: 3030344207

Page: 171

View: 144

This book discusses carefully selected topics in Islamic banking and finance (IBF) in South Eastern Europe (SEE) as one of the fastest growing areas in global finance. IBF originated within various Islamic banks, Islamic windows, investment funds, Takaful companies, and other financial institutions and has resulted in various global products. Although it is still in an early phase in SEE, IBF has developed rapidly in the last decade and has created a need for research on related topics, from the fundamental principles of IBF to the SCR, endowments and investment instruments to Islamic banking practices. This is our second book published as a result of the Sarajevo Islamic and Finance conferences (SIFEC). This conference traditionally gathers Islamic banking, economics, and finance academicians, experts, and students all over the world who discuss a wide range of topics in this field, focusing on the SEE. Consisting of seven chapters presenting original research, this book is a valuable resource for researchers as well as for practitioners and potential investors in IBF, especially in SEE.

Islamic Banking and Finance in the European Union

Now the institutions dealing with Islamic finance exist in more than 50 countries. ... of Islamic banks are often very similar to common European banking or ...

Islamic Banking and Finance in the European Union

Author: M. Fahim Khan

Publisher: Edward Elgar Publishing

ISBN: 1849803412

Page: 241

View: 863

As an introduction to the complex issue of harmonization of legal and regulatory structure of the European financial system and Islamic finance, this is a useful and welcome volume. The ideas, insights and practical issues addressed in the informed papers that compose the book should be valuable for academics and students of finance, and to those who provide legal and financial services. The book will be helpful also to European regulators who have yet to appreciate the importance of Islamic finance and its potential contribution to financial globalization as well as to European economic growth. Abbas Mirakhor, Former Executive Director, International Monetary Fund, US This timely book examines the authorization of Shari ah-compliant intermediaries as either credit institutions or as investment companies in the European Union. The contributing authors explore the key topics of this area through differing yet parallel perspectives for example, comparing economic and legal standpoints, looking at both European and national levels and considering both academic and technical approaches. The book discusses the common origin of Islamic and Western traditions in commercial and banking transactions, reviewing a period in which the Italian merchants and their organizations drove the rebirth of post-medieval society in trade and law. The editors investigate whether the Islamic banking and financial model complies with the European framework, spelling out the different experiences in single Member States (Germany, France, Italy, and the United Kingdom). Notwithstanding the obstacles to being authorized as domestic credit institutions, they conclude that the access of Islamic intermediaries is suitable and may have positive effects on European integration, as well as increasing the competition among the stand-still operators and evoking the ethical dimension of banking and finance. The book also highlights how Islamic banking would make the industry more inclusive. This multidisciplinary book will appeal greatly to economics and legal scholars with an interest in European and international banking and financial law, as well as postgraduate students in international law and banking law. Practitioners and regulators will also find this book an invaluable resource.

Islamic Finance Practices

This book discusses carefully selected topics in Islamic banking and finance (IBF) in South Eastern Europe (SEE) as one of the fastest growing areas in global finance.

Islamic Finance Practices

Author: Velid Efendic

Publisher: Palgrave Macmillan

ISBN: 9783030344221

Page: 171

View: 518

This book discusses carefully selected topics in Islamic banking and finance (IBF) in South Eastern Europe (SEE) as one of the fastest growing areas in global finance. IBF originated within various Islamic banks, Islamic windows, investment funds, Takaful companies, and other financial institutions and has resulted in various global products. Although it is still in an early phase in SEE, IBF has developed rapidly in the last decade and has created a need for research on related topics, from the fundamental principles of IBF to the SCR, endowments and investment instruments to Islamic banking practices. This is our second book published as a result of the Sarajevo Islamic and Finance conferences (SIFEC). This conference traditionally gathers Islamic banking, economics, and finance academicians, experts, and students all over the world who discuss a wide range of topics in this field, focusing on the SEE. Consisting of seven chapters presenting original research, this book is a valuable resource for researchers as well as for practitioners and potential investors in IBF, especially in SEE.

Islamic Banking and Finance

The book covers most of the regions, reflecting the diversity of Islamic finance and its numerous instruments. This book has six parts.

Islamic Banking and Finance

Author: Abdelghani Echchabi

Publisher: Independently Published

ISBN: 9781694416865

Page: 232

View: 974

Islamic finance in its wide scope has been currently introduced in more than 70 countries. Nevertheless, until today, little is known and documented abut Islamic finance in many settings. This book is a first attempt to uncover the status of Islamic finance in various countries. The Chapters in this book have been carefully selected and merged to provide the reader with a comprehensive view on the practices of Islamic finance across jurisdictions. The book covers most of the regions, reflecting the diversity of Islamic finance and its numerous instruments. This book has six parts. Five chapters are in the first part related to Islamic Banking and Finance in Middle East, two chapters in second part related to Islamic Banking and Finance in South East Asia, two chapters in third part related to Islamic Banking and Finance in South Asia, two chapters in fourth part related to Islamic Banking and Finance in Central Asia, three chapters in fifth part related to Islamic Banking and Finance in Europe and five chapters in the last part of this book related to Islamic Banking and Finance in Africa.

The Developing Role of Islamic Banking and Finance

Mr Amos also said the principle of partnership underlying Islamic finance means ... on Islamic Banking with Europe Malaysia-based Islamic Financial Services ...

The Developing Role of Islamic Banking and Finance

Author:

Publisher: Emerald Group Publishing

ISBN: 1783508183

Page: 232

View: 839

This volume highlights a vital developmental stage of Islamic Banking and Finance, focusing on regulatory aspects, regional case studies and International Financial Crisis impacts. It aims to help decision makers identify key factors for the real, sustained development of the Islamic Banking System, nationally, regionally and internationally.

Contemporary Islamic Finance

Contemporary Islamic Finance has been written to fill this need and will put you in a better position to excel at your endeavors within this field.

Contemporary Islamic Finance

Author: Karen Hunt-Ahmed

Publisher: John Wiley & Sons

ISBN: 1118180909

Page: 388

View: 528

Part I, The Contemporary Islamic Finance Landscape, addresses the most current issues surrounding Islamic economic theory and legal thought as well as presents a new level of thinking about a wide variety of other topics in this industry. Part II moves away from theory to highlight examples of how the products and structures of this discipline are effectively implemented in the real world. Along the way, you'll gain valuable knowledge regarding: Globalization and Islamic finance; The elements of Islamic wealth management; Sukuk--structures designed to bridge Islamic and conventional capital markets; An Islamic microfinance model and its role in poverty alleviation; Islamic finance in an almost postcrisis world; Shifting Islamic financial structures offshore; Islamic mortgages; Shari'ah-compliant investment in the United States; And much more.

Challenges and Opportunities of Islamic Banking in Europe A Comparative Study of the British and Swiss Cases

Islamic Finance and Banking has risen rapidly in last decades and has been established in several countries in the West.

Challenges and Opportunities of Islamic Banking in Europe   A Comparative Study of the British and Swiss Cases

Author: Colin Neukom

Publisher:

ISBN:

Page:

View: 443

Islamic Finance and Banking has risen rapidly in last decades and has been established in several countries in the West. Comparing the Islamic Finance industry in Switzerland with the British case has revealed that the development of these two markets has been profoundly different. The driving factors behind this process is the distinct political, social and economic environment. An Islamic Finance market has been successfully established in the UK due to the support of governmental bodies, the active Muslim community and the open attitude of its financial industry. In contrast, Islamic Finance faces major challenges in Switzerland such as fiscal and legal disad- vantages. The cause for these challenges is a lack of support by the government and the financial market authority. As a result, there is not domestic Islamic Banking market in Switzerland. Instead Swiss institutions offer Sharia-compliant financial services exclusively to wealthy, international clients.

The Art of RF Riba Free Islamic Banking and Finance

New to this edition: A detailed study of financial products and their use in RF finance, with comparisons to riba-based banking Expanded information on RF capital markets and updated historical stochastic data Review questions and exercises ...

The Art of RF  Riba Free  Islamic Banking and Finance

Author: Yahia Abdul-Rahman

Publisher: John Wiley & Sons

ISBN: 111877096X

Page: 544

View: 314

Updated and expanded insights into Islamic banking and finance From Yahia Abdul-Rahman-the father of Riba-Free (RF) banking-comes the expanded edition of the definitive resource that offers an understanding for applying Islamic banking and financial practices. No matter what your faith or religious beliefs, the book shows how to take a modern American approach to incorporating Islamic financial principles into banking and investment techniques. The Art of RF (Riba-Free) Islamic Banking and Finance describes the emergence of a culture of Islamic banking and finance today, which is based on the real Judeo-Christian-Islamic spirit and has proven very effective when compared to 20th century models that use financial engineering and structural techniques to circumvent the Shari'aa Law. The author also reveals information about how fiat money is created, the role of the Federal Reserve, and the US banking system. Abdul-Rahman includes a wealth of real-life examples and offers an analysis of how this new brand of banking and financing yields superior results. Offers the fundamentals on Riba-Free (RF) banking Shows how to apply RF to everything from joint ventures and portfolio management to home mortgages and personal finance Reveals what it takes to incorporate Shariah Law into US financial systems Includes information on why RF banking is a socially responsible way to invest Thoroughly revised and updated, this resource offers a handbook for applying Shari'aa law to American banking and finance.

Islamic Finance in Western Higher Education

This is the first of its kind in its topical coverage of the developments and prospects of Islamic finance education at Western higher education.

Islamic Finance in Western Higher Education

Author: A. Belouafi

Publisher: Springer

ISBN: 1137263695

Page: 272

View: 935

This is the first of its kind in its topical coverage of the developments and prospects of Islamic finance education at Western higher education. Intended to establish itself as a unique reference for academics and researchers this book gives an insight into ethics and values in curricula development at business schools and in finance departments.

An Overview of Islamic Finance

“Of Religion and Redemption: Evidence from Default on Islamic Loans.” European Banking Center Discussion Paper, No. 2012– 008 and Center Discussion Paper, ...

An Overview of Islamic Finance

Author: Mr.Mumtaz Hussain

Publisher: International Monetary Fund

ISBN: 151359074X

Page: 35

View: 933

Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.

Islamic Finance

Of particular interest, IFSB has organized an Islamic Financial Services Forum—The European Challenge, in collaboration with major European central banks, ...

Islamic Finance

Author: Jaseem Ahmed

Publisher: SAGE Publishing India

ISBN: 8132119266

Page: 320

View: 161

Islamic Finance is a compilation of selected writings of Dr Venkataraman Sundararajan (1945–2010), an international policy maker who played a significant role in the development of the regulatory and supervisory frameworks and policy for Islamic finance. Spanning more than a decade of his thoughts on Islamic finance, this book provides both basic and advanced knowledge on the field. The papers in this collection define Islamic finance, outline its many complexities, and provide practical recommendations that can help it in becoming an important global financial intermediary. The book demonstrate not only Dr Sundararajan's long-standing commitment to helping develop Islamic banking, but also how Islamic finance itself has evolved rapidly between 1998 and 2010. The chapters in this book are a blend that would benefit lay readers as well as experts and policy makers at regional and international levels.