Innovations in finance have various objectives, attempting to provide better solutions to the target market. This study analyzes the latest innovative Islamic financial product, namely the sukuk, for adherence to AAOIFI Sharia' standards and interpretation of it in the light of Basel II's securitization framework. It is a rare study that discusses the Sharia'h parameters for the product as well as conventional financial regulations,and combines both in order to draw meaningful conclusion. The work entails a cross-sectional analysis of the underlying contracts from the legal documents of sample…mehr
Innovations in finance have various objectives, attempting to provide better solutions to the target market. This study analyzes the latest innovative Islamic financial product, namely the sukuk, for adherence to AAOIFI Sharia' standards and interpretation of it in the light of Basel II's securitization framework. It is a rare study that discusses the Sharia'h parameters for the product as well as conventional financial regulations,and combines both in order to draw meaningful conclusion. The work entails a cross-sectional analysis of the underlying contracts from the legal documents of sample Ijara'h sukuk and Musharikah sukuk. Sukuk are investment instruments representing ownership to underlying fungible assets and/or rights of usage of such assets. This book is particularly valuable for industry practitioners, regulators, researchers and academia. It is culled from the authors' Ph.D thesis. However, the analysis is simple to understand for an average reader interested in finance and economics too. The author's observations section in the end is particularly noteworthy.The annexes serve to assist the reader in further delving on the roots of the subject matter
Zohra Jabeen, Ph.D in Finance (M.A.Jinnah University,Islamabad) & MS International Banking & Financial Studies (University of Southampton,U.K) former Banker, work experience 20 years(banking, teaching & research=6,14), Focus=Islamic Finance,Banking, regulations, Assistant Professor, at Institute of Management Sciences, Peshawar, Pakistan
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