Islamic Banking and Finance: New Perspectives on Profit Sharing and RiskMunawar Iqbal, David T. Llewellyn Over 200 Islamic banks - including some of the largest multinational banks - now operate in non-Muslim as well as Muslim countries. This work discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as a |
Contents
Introduction | 1 |
Decisionmaking under uncertainty an Islamic perspective | 15 |
Incentivecompatible profitsharing contracts a theoretical treatment | 40 |
Evidence on agencycontractual problems in mudarabah financing operations by Islamic banks | 57 |
Incentivecompatible constraints for Islamic banking some lessons from Bank Muamalat | 95 |
How informal risk capital investors manage asymmetric information in profitlosssharing contracts | 111 |
Choice between debt and equity contracts and asymmetrical information some empirical evidence | 139 |
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activities actual profit adverse selection agency problems agent assets asymmetric information audit Bank Muamalat Barkat behaviour borrower cash causality cause cent chapter clients co-invest collateral Contingency table conventional banks cooperative criteria debt contract decision decision-making depositors deposits Descriptive statistics developed entrepreneur expected factors financial contracts financial system firm gharar hypothesis important incentive incentive-compatible incidence of agency increased information asymmetry instalment sales interest interest-free investment involved Iran Islamic banks Islamic Development Bank Islamic Economics Journal Khan leasing loans modes of financing monitoring costs moral hazard problem mudārabah contracts murābahah Muslim Muslim Funds Najibabad outcome Panel partnership party payment portfolio problems in mudārabah production profit-sharing contract profit-sharing modes profit-sharing ratio profit/loss-sharing purchase ranking reduce relationship reporting Research ribā risk Saudi Arabia Saudi informal investors sector share Shariah short-term Spearman correlation speculative supervision transactions uncertainty variables Venture Capital