Takaful and Islamic Cooperative Finance

Challenges and Opportunities

S. Nazim Ali, Shariq Nisar (Herausgeber)

Buch | Hardcover

384 Seiten

2016
Edward Elgar Publishing Ltd (Verlag)
978-1-78536-335-1 (ISBN)

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Islamic finance distinguishes itself from conventional finance with its strong emphasis on the moral consequences of financial transactions; prohibiting interest, excessive uncertainty, and finance of harmful business. When it comes to risk mitigation, it is unique in its risk sharing approach.

This authoritative book tracks the evolution of the takaful industry over the course of the last four decades and makes a major attempt to highlight the importance of risk sharing through a discussion of various models of cooperation and critical analysis of their performance, including illuminating case studies and a critical assessment of the Islamic insurance model and the role of alternate financing mechanisms. Its high level discourse on shari'ah compliance and its nuances places emphasis on the importance of solidarity, cooperation, mutuality and reciprocity.

Scholars and practitioners working in Islamic Finance will appreciate the context and nuance of this important book, and it will be essential reading for anyone interested in alternative forms of shari'ah compliant cooperative finance. The book is equally vital for academics and researchers interested in understanding various takaful models and their shari'ah considerations.

Contributors include: A. Abozaid, A.U.F. Ahmad, A. Akhtar, S.N. Ali, H. Allam, M. Ayub, M. Al Bashir Al Amine, A. Bhatty, J.W. Bradford, S.E.B. Carmody, M.A. El-Gamal, M. Faisal, M.F. Haq, I. Bin Mahbob, A. Nana, V. Nienhaus, S. Nisar, U.A. Oseni, M. Rahman, A. Rehman, M.A. Samad, B. Shafiq, H. Sultan, A.-R. Syed, T.A. Uddin

Edited by S. Nazim Ali, Research Professor and Director, Center for Islamic Economics and Finance, Hamad Bin Khalifa University, Qatar and Shariq Nisar, Professor, Rizvi Institute of Management Studies and Research (RIMSR), India

Contents:

Introduction

PART I: INTRODUCTION TO TAKAFUL: FORM, FUNCTION AND CRITICISM
1. Takaful Journey: the Past and Present and Future
Ajmal Bhatty and Shariq Nisar

2. Solidarity, Cooperation, and Mutuality in Takāful
Volker Nienhaus

3. Mutuality, Reciprocity, and Justice within the Context of a Unified Theory of Riba and Ghara
Mahmoud A. El-Gamal

4. A Proposed Marriage between Endowments, Mutual Insurance, and the Institution of Agency in Islamic Law—An Introduction to the Waqf-Wakalah Model of Takaful
Abdullah Nana

5. A Critical Shari’ah Review of Takaful Structures: Towards a Better Model
Abdulazeem Abozaid

PART II: REGULATORY ENVIRONMENT AND LEGAL ASPECTS OF TAKAFUL
6. New Horizons: The Potential for Shari’ah-compliant Cooperative and Mutual Financial Services
Sara E.B. Carmody

7. Toward a Watershed in Takaful Dispute Resolution: From Litigation to Effective Dispute Management
Umar A. Oseni

8. Fatwā and its Role in Regulatory Capture and Arbitrage
Joe W. Bradford

PART III: TAKAFUL PRODUCT ANALYSIS
9. The Nature of Retakaful: Risk Sharing or Transferring Risks?
Abu Umar Faruq Ahmad, Ismail Bin Mahbob and Muhammad Ayub

10. Commercial Credit Takaful
Muhammad Al Bashir Muhammad Al Amine

11. Shari’ah Compliant High Watermark Protected Lifetime Annuity in Family Takaful?
Hiba Allam and Volker Nienhaus

PART IV: TAKAFUL AS SOCIAL FINANCE
12. Reimagining takaful: A New Model for Social Banking
Hussam Sultan and Abdur-Rahman Syed

13. Islamic Co-operatives: A Route to Poverty Alleviation and Economic Development
Mian Farooq Haq and Bushra Shafiq

14. Scaling Poverty Reduction in Indonesia: Enhancing the Institutional Effectiveness of Islamic Microfinance Institutions
Tanvir Ahmed Uddin and Muhammad Maaz Rahman

15. Micro-takaful in India: A Path Towards Financial Inclusion and Sustainable Development
Mohammad Faisal, Asif Akhtar, Asad Rehman and M. Abdul Samad

Index

Erscheinungsdatum	09.08.2016
Reihe/Serie	Studies in Islamic Finance, Accounting and Governance series
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Recht / Steuern ► Allgemeines / Lexika
	Recht / Steuern ► EU / Internationales Recht
	Sozialwissenschaften ► Soziologie
	Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Versicherungsbetriebslehre
	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
ISBN-10	1-78536-335-2 / 1785363352
ISBN-13	978-1-78536-335-1 / 9781785363351
Zustand	Neuware