Islamic Finance Practices (eBook)
XVIII, 171 Seiten
Springer International Publishing (Verlag)
978-3-030-34420-7 (ISBN)
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.
Velid Efendic is an Associate Professor in the field of finance at the University of Sarajevo (UoS), Bosnia and Herzegovina. He was involved in the establishment and management of the Banking Academy and Center for Islamic Economics Banking and Finance at UoS, where he serves as the Head. Since 2013 he serves as the head of the international Joint degree MA programme 'Islamic Banking' in collaboration between UoS and University of Bolton, UK. In 2017, Efendic was appointed as a Management Board member in the Banking Agency for supervision and regulation of banks in the Federation of Bosnia and Herzegovina (FBiH) for the mandate of five year. He has been engaged as a consultant and researcher in many research and investment projects in a variety of public, private, and non-governmental, national, and international institutions and companies.
For the last ten years, Efendic was the head, author, organizer, and lecturer at many practical/professional seminars and training courses in various fields of banking and Islamic banking and finance. He is one of the founders of the European Association for Islamic Economics, Banking and Finance.
Preface 5
Contents 9
List of Contributors 12
List of Figures 14
List of Tables 16
1 History of Economic Thought Hidden Within the Archives of Abrahamic Religions 18
1 Introduction 18
2 Market Regulations and Ethics: Religiously Informed Regulative Environment 22
3 Judaism, It’s Effects and Influence on Market Regulations 23
4 The Ethical Code of Christianity and Its Paternal Approach on Market Regulations 26
5 Conclusion 33
Bibliography 36
2 Exploring the Epistemology of Utility Function in Islamic Economics: Foundation of Islamic Finance 39
1 Introduction 39
2 Concept of Utility in Islamic Economics 40
3 Conclusion 54
Bibliography 55
3 Islamic Approach to Corporate Social Responsibility in Scientific Research with CSR Overview in Banking Sector of Bosnia and Herzegovina 57
1 Introduction 58
2 Islamic Approach to Corporate Social Responsibility 62
3 CSR Based Projects—Some Cases from Banking Sector of Bosnia and Herzegovina 66
4 Islamic Banking and CSR in Bosnia and Herzegovina 68
5 The Use of Databases as a Scientific Tool 69
6 Process and the Results of the Research 70
7 Conclusions 78
References 88
4 Potentials of Waqfs from a Socio-Economic Perspective: The Case of Bosnia and Herzegovina 93
1 Introduction 94
2 Literature on Waqfs 96
3 Background on Waqfs in Bosnia and Herzegovina 98
4 Methodology and Data 101
5 Empirical Findings 102
5.1 Institutional Belonging 104
5.2 Perception of Waqf 104
5.3 Role of the Muslim Community in Creating Awareness About Waqf 108
5.4 A Motivation for Waqf Endowments 109
5.5 Second Stage Analysis 116
6 Conclusions 118
Appendix: Results of the Second Stage Analysis 119
References 125
5 Efficient Diversification with Shariah-Compliant Stocks: Evidence from the South-East European Capital Markets 127
1 Introduction 128
2 Literature Review 128
3 Methodology 132
4 Results and Discussion 133
5 Conclusion 143
References 144
6 Credit Risk Assessment for an Islamic Bank in Bosnia and Herzegovina 146
1 Introduction 146
2 Basel Rules Review and Summary 149
3 Banking Legislation in Bosnia and Herzegovina 154
4 Islamic Banking Data 154
4.1 Research Methodology and Model Building 156
5 Credit Risk Assessment Model 156
6 Future Work 159
7 Conclusion 160
References 160
7 Market Rent Value as a Basis for Profit Margin Calculation in Home Financings Based on Diminishing Musharakah with Ijarah: Possibilities for Implementation in Bosnia and Herzegovina 163
1 Introduction 164
2 Profit Margin Calculation in Diminishing Musharakah and Ijarah Financings in Bosna Bank International 165
3 Market Rent as a Basis for Profit Margin Calculation 166
4 Comparison of the Existing Method of Calculating the Profit Margin at BBI and the Model Based on Market Rent Value 167
5 Analysis of Current Market Rents, Profit Margins in BBI and Interest Rates in the Federation of Bosnia and Herzegovina 171
6 Combination of the Two Models—The Best Solution in Current Market Conditions 177
7 Conclusion 179
References 180
Index 182
Erscheint lt. Verlag | 9.3.2020 |
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Zusatzinfo | XVIII, 171 p. 23 illus., 20 illus. in color. |
Sprache | englisch |
Themenwelt | Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung |
Schlagworte | CSR and Islamic Finance • Development Finance • Islamic Banking • Islamic Finance • Risk Management in Islamic Banking • Socio-economics in Microfinance • Waqfs |
ISBN-10 | 3-030-34420-7 / 3030344207 |
ISBN-13 | 978-3-030-34420-7 / 9783030344207 |
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