Islamic Banking and Financial Crisis
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'I highly recommend this compelling book to any newcomer to Islamic finance, as a primer on the subject, as well as to experts.' Mahmoud Mohieldin, The World Bank President's Special Envoy Examines the resilience of Islamic banking during the global financial crisis and lessons for risk management Do Islamic financial institutions perform better than their conventional counterparts during periods of financial stress? To what extent do systems for managing risk have to be adapted for Islamic financial institutions, given the unique characteristics of their assets and liabilities and the need…mehr

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Produktbeschreibung
'I highly recommend this compelling book to any newcomer to Islamic finance, as a primer on the subject, as well as to experts.' Mahmoud Mohieldin, The World Bank President's Special Envoy Examines the resilience of Islamic banking during the global financial crisis and lessons for risk management Do Islamic financial institutions perform better than their conventional counterparts during periods of financial stress? To what extent do systems for managing risk have to be adapted for Islamic financial institutions, given the unique characteristics of their assets and liabilities and the need for Shari'ah compliance? These issues have come to prominence since the global financial crisis of 2008 and the subsequent recession, and they are addressed in this book. The challenges for Islamic financial institutions are explored in an international post-Basel II system where banks are required to have more capital and liquidity. Governance issues are also examined, given their influence on client and investor perceptions and their ultimate implications for institutional stability and sustainability. The book concludes with suggestions for directing the Islamic financial industry towards a better fulfilment of both the legal and social requirements of Shari'ah. Key Features . Presents the basic principles of Shari'ah and the legal and regulatory environment under which Islamic banks operate . Examines the features of financial products and the product development system in Islamic banks . Presents a scheme to classify products as Shari'ah based, Shari'ah compliant and pseudo Islamic . Critically evaluates the controversies related to the types of products marketed by Islamic banks, highlighting the external and internal constraints under which products are developed Habib Ahmed is Sharjah Chair of Islamic Law and Finance, Mehmet Asutay is Reader in Middle Eastern and Islamic Political Economy and Finance, and Rodney Wilson is Emeritus Professor of Islamic Banking and Finance, all at the University of Durham. Cover images: © Carol Herbert/iStockphoto.com and Graham Heywood/iStockphoto.com. Cover design: [EUP logo] www.euppublishing.com
Autorenporträt
Habib Ahmed is the 'Sharjah Chair in Islamic Law and Finance' at Durham University. Prior to joining Durham University in August 2008, he worked at the National Commercial Bank and Islamic Development Bank (IRTI) in Saudi Arabia and taught at the University of Connecticut, National University of Singapore, and University of Bahrain. Mehmet Asutay is Reader in 'Middle Eastern and Islamic Political Economy and Finance' at the School of Government and International Affairs, Durham University, and he is also the Director of the Durham Doctoral Training Session for Islamic Economics and Finance. He mainly teaches and researches Islamic Political Economy and Islamic Finance subjects; and supervises masters and doctoral research on various aspects of Islamic moral economy and finance; political economy of the Middle East; and economic development related subjects. Professor Wilson was the founder of the Islamic finance programme at Durham University in the United Kingdom where he continues to be an Emeritus Professor. He was a Visiting Professor at the Qatar Faculty of Islamic Studies in from 2009 untill 2012 and since 2013 has been an Emeritus Professor at the International Centre of Education in Islamic Finance (INCEIF), Kuala Lumpur. Professor Wilson was awarded the IDB prize in Islamic banking in 2014 in recognition of his academic work on the subject.