Case Studies In Islamic Banking And Finance Pdf
Francisco Raya
Based around 12 individual cases, the book stimulates discussion and develops the reader's understanding of Islamic finance by contrasting the theoretical concepts discussed in the author's companion text Introduction to Islamic Banking and Finance with practical real world situations. The cases cover core Islamic banking and finance topics including the Ijara, Mudaraba and Musharaka contracts; Islamic mortgages for home finance; leverage; and issues involved in opening an Islamic bank. Financial statement analysis for Islamic banks, the implications for fund management for equity investing and the impact of loan defaults on Islamic and conventional banks are also included. Each chapter concludes with a set of questions designed to test the reader's understanding of each case, with suggested solutions at the end of the book.
case studies in islamic banking and finance pdf
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This book is a must have resource for those wishing to apply their understanding of this complex subject and is an essential read for anyone seeking practical examples of how to apply the concepts in a real world environment.
Subsequently, Brian taught courses on Islamic banking and finance at a range of financial institutions including the World Bank, National Commercial Bank (Saudi Arabia), Global Investment House (Kuwait), Noor Islamic Bank (UAE), the UK Treasury, the Central Bank of Iran, the Central Bank of Syria, the Chartered Institute for Securities and Investment, the Institute for Financial Services and Scotland Yard.
Brian's vast academic expertise in Islamic finance is highlighted by his role as former Joint Editor of the Islamic Finance Qualification Handbook and his past teaching work at a number of top universities worldwide including the London School of Economics, the City University of Hong Kong, the American University of the Middle East in Kuwait and London Metropolitan University Business School.
Brian's impressive list of publications include over 100 articles in journals, business magazines and the financial press including Islamic Business and Finance, Islamic Banking and Finance, the Central Banking Journal, Euromoney, the Securities Journal and the International Currency Review. He has also published 6 books on Islamic banking and financial markets.
On this page: Find sample case studies on Islamic Finance for Asset Recycling, including Green Sukuk below, or visit the Guidelines for Implementing Asset Recycling Transactions Section Overview and Content Outline, or Download Full Report for more.
In Malaysia, the birthplace of sukuk in the 1990s, the Securities Commission Malaysia introduced the Sustainable and Responsible Investment Sukuk Framework in 2014. This was followed by the issuance of the first social impact sukuk by its sovereign wealth fund, Khazanah Nasional Berhad.
In 2017, Bank Negara Malaysia issued the Value Based Intermediation (VBI) strategy paper, and two years later, Malaysia's Islamic fund manager, BIMB, signed the UN-supported Principles for Responsible Investment (UNPRI) to incorporate ESG into investments. In 2017, renewable energy group Tadau Energy issued the first "green" sukuk, raising US$ 59 million to finance a solar power plant in Malaysia.
One of the questions that arose was how to tranche the sukuk because the project consists of three separate plants as the power purchase agreements were signed separately. QSPS decided to combine the three projects and put it on the holding company and issuer of the company. The long tenor sukuk (with 36 tranches from one year notes up to 18 year notes) suits especially the independent power producer projects where the return of investment or payback period takes more than 10 years.
Indonesia is the world's fourth most populous country with a population of 262 million. The country has extensive tropical landscape and seascape, high biodiversity and high carbon stock values and resources; susceptible to climate-induced disasters. For this, Indonesia is strongly committed to combat climate change and ratified the Paris Agreement in 2016 and submitted its Nationally Determined Contributions. The Indonesian government has shown support through developing the Nawacita programme with nine priority actions on shifting to a low-carbon and climate-resilient development path that needs to be integrated in development policies, strategies and programmes.
The response for the Indonesia's green sukuk deal was overwhelming. It was oversubscribed by 2.4 times for the deal and was well distributed among investors. Green sukuk was also able to tap beyond Shari'ah investors. About 32% allocated for Islamic investors were from the Middle East and Malaysia, and about 25% allocated for Asian investors, excluding Indonesia and Malaysia. A sum of 18% allocated to US investors, 15% to European investors and 10% allocated for Indonesian investors. The Indonesia's green sukuk has tapped new green investors of about 29%.
The underlying sukuk assets in Majid Al Futtaim's sukuk included hotels (such as the Aloft Hotel and the Hilton Garden Inn), offices (such as the Majid Al Futtaim Towers in the UAE) and a number of their shopping malls (including Almaza City Center in Egypt and the Mirdif City Center in the UAE).
The issuance of the sukuk showcases Majid Al Futtaim's commitment to sustainable green projects that support moving to a low-carbon more sustainable economy. The inaugural transaction marked the first ever green corporate capital markets offering from the Middle-East and North Africa (MENA) as well as the first ever benchmark corporate green sukuk. The sukuk falls in line with Majid Al Futtaim Net Positive strategy, launched in 2017. The strategy aimed to significantly reduce the company's water consumption and carbon emissions to the extent that it puts more back into the environment than it takes out, resulting in a positive corporate footprint by 2040.
With the green sukuk listing, the value of all debt instruments listed on Nasdaq Dubai (which is a Dubai-based stock exchange that lists regional and international shares in the Middle East) by Majid Al Futtaim has reached US$ 2.4 billion.
Note(s):The Guidelines have not been prepared with any specific transaction in mind and are meant to serve only as general guidance. It is therefore critical that the Guidelines be reviewed and adapted for specific transactions To find more, visit the Guidelines to Implementing Asset Recycling Transactions Section Overview and Content Outline, or Download the Full Report.
An introductory course to corporate finance from the perspective of the chief financial officer (CFO). The first part of the course deals with financial planning and budgeting, financial analysis, and short-term financial management. The second part of the course develops a valuation framework for making investment decisions (capital budgeting) for new equipment, the launch of new products, mergers and acquisitions and LBOs... and the funding/financing decisions to be coordinated with those investment decisions. Special attention is given to the cost of capital and valuing stocks, bonds, convertible and preferred.
The focus is on the determinants of competitive performance of financial institutions including commercial banks, insurance companies, hedge funds, investment banks, and private equity firms. Review of bank management principles emphasizes asset liabilities management, interest rate risk management and Value at Risk (V@R). Discussion of international commercial banking will focus on international trade financing, syndicate lending, project finance, and international securitization. Open to students who have completed B200 or B221 or equivalent.
This course develops a conceptual framework within which the key financial decisions faced by multinational corporations can be analyzed. The traditional themes of corporate finance, including working capital management, capital budgeting, mergers and acquisitions, and funding strategies, are revisited in the context of volatile exchange rates, different regulatory environments and segmented capital markets. Focus on foreign exchange risk management including the appropriate use of new hedging instruments such as currency options, swaps, and derivatives. Case studies emphasize how international financial management should be integrated with corporate strategy and operating decisions. Open to students who have completed B200 or equivalent.
This course aims to study the role of the informal (off- the-books) and underground (criminal) sectors in the global economy, from multiple perspectives ranging from economic development to law enforcement and global security. In the past decades, the removal of financial controls, combined with technological advances, has allowed deviant globalization (drug trade, piracy, cybercrime, counterfeiting, human trafficking, terrorist financing, etc.) to prosper, creating governance and law enforcement challenges to governments and corporations alike.
This course provides a comprehensive examination of the role of private equity in global finance. It is intended to equip students with an analytical framework for assessing the industry and its key participants and to develop practical skills to support possible investment careers. The course is experiential by design and will be structured around two team-based projects that will engaged students directly in critical dimensions of the private equity finance process: fund development, investment analysis and decision-making. The course will cover the full spectrum of issues relevant to a globally oriented private equity firm from the structure of partnership agreements, through capital acquisition, deal sourcing, investment analysis, deal structuring, and exit. The course approach is intended to unite disciplinary rigor in financial and investment analysis with globally applied practices.
This course investigates the global dimensions of investment management. The course combines technical and theoretical tools with practical illustration and application of critical investment concepts. The course will open with an overview of global institutional investors and the business of investment management. Following sessions will focus on developing an understanding primary asset classes, including foreign exchange, global equities, global fixed income securities, alternative investment vehicles, and derivatives. On this foundation, subsequent class sessions will focus on introducing and developing portfolio skills in the areas of risk management, investment performance and attribution, and finally portfolio construction and asset allocation.
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