Islamic Capital Markets: Products and Strategies
Islamic Finance has experienced rapid growth in recent years, showing significant innovation and sophistication, and producing a broad range of investment products which are not limited to the complete replication of conventional fixed-income instruments, derivatives and fund structures. Islamic Finance represents an elemental departure from traditional interest-based and speculative practices, relying instead on real economic transactions, such as trade, investment based on profit sharing, and other solidary ways of doing business, and aims to incorporate Islamic principles, such as social justice, ecology and kindness, to create investment products and financial markets which are both ethical and sustainable.
Products created according to Islamic principles have shown a low correlation to other market segments and are relatively independent even from market turbulences like the subprime crisis. Therefore, they have become increasingly popular with secular Muslims and non-Muslim investors, as highly useful alternative investments for the diversification of portfolios.
In Islamic Capital Markets: Products and Strategies, international experts on Islamic Finance and Sharia'a Law focus on the most imminent issues surrounding the evolution of Islamic capital markets and the development of Sharia'a-compliant products. The book is separated into four parts, covering:
Islamic Capital Markets: Products and Strategies is the complete investors' guide to Islamic finance.
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About the Contributors xv
Formalization and a Registration
The Shariah Process in Product Development and Approval in ICM 23
Integration of Social Responsibility in Financial Communities 69
The Dispute Resolution Framework for the Islamic Capital Market
How Good Governance can Assist
NATIONAL AND REGIONAL EXPERIENCES 219
Trends Opportunities and Potential 235
Islamic Finance in the United States 279
An Analysis of Global Trends and Regional Pockets in the Application
The Experience of Australia 341
LEARNING FROM ISLAMIC FINANCE AFTER THE GLOBAL