Islamic Finance and Economic Development
Risk, Regulation, and Corporate Governance
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Beschreibung
The recent financial crisis that gripped the world points to the crucial need for well-planned, effective risk management, along with the requisite international regulatory standards to govern policies and procedures. This is equally true within the realm of Islamic finance.
Amr Mohamed El Tiby and Wafik M. Grais team up to bring together the concepts of risk, regulation, and corporate governance in their seminal work on Islamic finance and economic development.
Broken down into four distinct parts, Islamic Finance and Economic Development: Risk Management, Regulation, and Corporate Governance opens with a primer to Islamic finance and its history. This includes an analysis of recent developments, along with an overview of the present state of Islamic finance within the larger context of the global financial system. Part Two moves beyond the background information to provide details on risk, contagion, and distress. This section provides an overview of how global financial crises can affect Islamic finance, providing a real-world look at recent events.
In Part Three, the authors bring you an overview of the regulatory framework for Islamic banking, including a discussion of challenges and opportunities for bankers, regulators, and policy makers. Part Four of the book is dedicated entirely to governance issues in Islamic finance, including discussions of financial Fiduciary Governance and Shari'a Fiduciary Governance, along with the presentation of an approach to the development of a systemic Shari'a governance framework for Islamic finance activities.
A comprehensive guide to mitigating risk and fostering growth in the Islamic financial sector
Islamic finance, like conventional finance is a business of financial intermediation. Its distinctive features relate to the requirement that it abides by Shari'a rules that promote fairness of contracts and prevention of exploitation, sharing of risks and rewards, prohibition of interests, and tangible economic purpose. Islamic finance should not fund activities considered "haram" or sinful. In Islamic Finance and Economic Development: Risk, Regulation, and Corporate Governance, authors Amr Mohamed El Tiby and Wafik M. Grais expound how these distinctive features bear on the opportunities and challenges facing the Islamic finance industry's development, risk management, regulation and corporate governance.
An experienced banker with various Middle East banking institutions, notably as former Vice President at UAE Union National Bank and Mashreq bank, Dr. El Tiby offers an informed perspective on corporate finance from within the Islamic finance industry. With a long experience in international development and finance, notably as former Director at the World Bank and Founder and Chairman of a Cairo-based Financial Advisors company, Dr. Grais brings global financial experience on the topics of financial systems assessments, corporate governance, Islamic finance, and public policy.
* Covers the history and basics of Islamic finance, and provides insight into current conditions and future landscape
* Explores regulatory framework, including opportunities and challenges for the industry's development and mainstreaming
* Presents an approach to developing a systemic Shari'a governance framework to govern operations in the Islamic finance industry
Autor*in
Amr Mohamed El Tiby Ahmed
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