عنوان

Islamic finance, risk-sharing and macroeconomic stability /

3030052257

9783030052256

3030052249

9783030052249

Islamic finance, risk-sharing and macroeconomic stability /

[Book]

editors, Muhamed Zulkhibri and Turkhan Ali Abdul Manap.

Cham, Switzerland :

Palgrave Macmillan,

[2019]

1 online resource

Includes bibliographical references and index.

Intro; Preface; Contents; List of Contributors; List of Figures; List of Tables; Chapter 1 Introduction; 1.1 Overview; 1.2 The Nature of Islamic Economics and Macroeconomic Stability; 1.3 Islamic Bank Capital and Financial Regulation; 1.4 Financial Leverage and Risk-Sharing in Islamic Banking; 1.5 Islamic Finance for Socioeconomic Development; 1.6 Conclusion; References; Part I The Nature of Islamic Economics and Macroeconomic Stability; Chapter 2 Islamic Economics: "New Paradigm" or "Old Capitalism"?; 2.1 Introduction; 2.2 Redefining Islamic Economics and Finance

2.3 Axiomatic Reasons for Islamic Economics and Finance to Be a "New Paradigm"2.3.1 Islamic Economics and Finance Pursue Different Goals as Ultimate End/Outcome; 2.3.2 Wealth Is "Preferred Indifference" for Islamic (G-Donic) Happiness Model; 2.3.3 Islamic Economics Is Not Based on Self-Interest Alone; 2.3.4 Islamic Economics Values Social, Moral, and Spiritual Capitals; 2.3.5 Islamic Economics Offers Moral and Spiritual Filters; 2.3.6 Islamic Economics Eliminates Duality in Favour of Spirituality; 2.3.7 Islamic Economics Offers an Antidote to Material Indulgence

2.3.8 Islamic Economics Offers Moderation in Fulfilment of Sensual and Egoistic Desires2.3.9 Islamic Economics Assumes That Human Is "Predictably Irrational"; 2.3.10 Islamic Economics Offers Antidote Against Alienation and Animalization Through Capitalism; 2.4 Conclusion; References; Chapter 3 The Theological Foundations of Islamic Banking: A Critical Review; 3.1 Introduction; 3.2 Shari'ah: The Foundation of Islamic Banking; 3.3 Concept of Ownership in Islam; 3.4 Distribution of Wealth in Islam; 3.5 Principles of Islamic Economics and Banking

3.5.1 Differences Between Riba and Profit3.5.2 Ethics for Acceptable Economic Forms in Islam; Trade-Based Activities; Profit and Loss Sharing; Halal Instruments; Welfare Approach; Justice and Fair Dealing; Honesty and Gentleness; Free Marketing and Fair Pricing; Prohibition of Najash and Khalabah; Disclosure, Transparency and Facilitating Inspection; Fulfilling the Covenants and Paying Liabilities; Mutual Cooperation and Removal of Hardship; 3.6 Concept of Money and Capital in Islam; 3.7 Trust and Accountability in Islam; 3.8 Conclusion; References

Part II Risk-Sharing, Islamic Bank Capital and Financial RegulationChapter 4 Capital Structure and Shari'ah Compliance Firms: Malaysian Evidence; 4.1 Introduction; 4.2 Literature Review; 4.2.1 Trade-Off Theory; 4.2.2 The Pecking Order Theory; 4.2.3 The Market Timing Hypothesis; 4.2.4 Firm Fixed Effects; 4.2.5 Empirical Evidence in Developed and Developing Nations; 4.2.6 The Malaysian Context; 4.3 Methodology; 4.3.1 Data Description; 4.3.2 Model Specification; 4.4 Results; 4.4.1 Efficacy of the Market Timing Hypothesis; 4.4.2 Peking Order Variables; 4.4.3 Firm-Specific Variables

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The concept of risk-sharing in financial and social contracts is one of the unique features of Islamic finance. Many theoretical studies generally claim superiority of an Islamic financial system based on pure equity and participatory modes of financing, while empirical studies provide mixed results. Studies and discussions are needed to fully understand how Islamic finance could contribute to the ongoing discussion of financial stability. Against this background, this book addresses various aspects of Islamic finance and the risk-sharing mechanism contributions to the overall macroeconomic and financial stability. Undoubtedly, the findings and recommendation from this book should be of great interest not only to future academic researchers in the field of macroeconomic stability and Islamic finance, but also to policy makers and regulators who are keen on drawing lessons from Islamic finance experiences to prevent similar crisis in the future.--

Springer Nature

com.springer.onix.9783030052256

Islamic finance, risk-sharing and macroeconomic stability.

9783030052249

Finance-- Religious aspects-- Islam.

Risk.

BUSINESS & ECONOMICS-- Finance.

Finance-- Religious aspects-- Islam.

Risk.

BUS-- 027000

Manap, Turkhan Ali Abdul

Zulkhibri, Muhammad

20200823081340.0

pn

[Book]

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