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Book Cover
E-book
Author Jobst, Andreas, author.

Title The economics of Islamic finance and securitization / prepared by Andreas A. Jobst
Published Washington, D.C. : International Monetary Fund, Monetary and Capital Markets Dept., 2007

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Description 1 online resource (35 pages) : illustrations
Series IMF working paper, 2227-8885 ; WP/07/117
IMF working paper ; WP/07/117.
Contents I. Introduction; II. Definition of Islamic finance; A. The Main Types of Islamic Finance; B. Islamic Finance and Put-Call Parity; Figures; 1. The Pay-Off Profile under Put-Call Parity of the Three Basic Forms of Islamic Finance; C. Asset Pricing Islamic Finance; III. Islamic Securitization; 2. The Pay-Off Profile of Asset-Backed Securities under the Three Basic Forms of Islamic Finance; A. Adapting the Principles of Islamic Finance to Securitization; B. Islamic Investment Certificates (Sukuk); 3. The Concept of an Ijarah Sukik Transaction; C. Current State of Islamic Securitization
Text Boxes1. Malaysia as Pacemaker of Islamic Securitization; 2. Two-Tier SPV Ijarah Securitization-CARAVAN I Limited; 3. Securitization and Capital Market Development in Emerging Markets; IV. Challenges and Opportunities of Islamic Securitization; A. Legal Uncertainties; B. Economic and Structural Impediments; C. Advantages of Islamic Securitization; V. Conclusion; References
Summary "Islamic lending transactions are governed by the precepts of the shariah, which bans interest and stipulates that income must be derived as return from entrepreneurial investment. Since Islamic finance is predicated on asset backing and specific credit participation in identified business risk, structuring shariah-compliant securitization seems straightforward. This paper explains the fundamental legal principles of Islamic finance, which includes the presentation of a valuation model that helps distil the essential economic characteristics of shariah-compliant synthetication of conventional finance. In addition to a brief review of the current state of market development, the examination of pertinent legal and economic implications of shariah compliance on the configuration of securitization transactions informs a discussion of the most salient benefits and drawbacks of Islamic securitization"--Abstract
Bibliography Includes bibliographical references (pages 33-35)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
English
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Finance -- Islamic countries -- Religious aspects
Banks and banking -- Islamic countries -- Religious aspects
Bonds -- Islamic countries
Financial instruments -- Islamic countries
Banks and banking -- Religious aspects
Bonds
Finance -- Religious aspects
Financial instruments
Islamic countries
Form Electronic book
Author International Monetary Fund. Monetary and Capital Markets Department.
ISBN 128351866X
9781283518666
9781451911343
1451911343
1462396194
9781462396191
1452784426
9781452784427
9786613831118
6613831115