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Islamic Banking and Financial CrisisReputation, Stability and Risks

Edited by Habib Ahmed, Mehmet Asutay and Rodney Wilson

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£110.00

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About this book

Examines the resilience of Islamic banking during the financial crisis and draws lessons for risk management

Do Islamic financial institutions perform better than their Western counterparts during periods of financial stress? How do Islamic financial institutions manage risk, given their unique characteristics and the need for Shari’ah compliance?

Islamic Banking and Financial Crisis looks at the challenges for Islamic financial institutions in an international post-Basel II system where banks are required to have more capital and liquidity. It also examines the influence of governance on client and investor perceptions and their implications for institutional stability and sustainability. It concludes by suggesting how the Islamic financial industry can better fulfil both the legal and social requirements of Shari’ah. Key Features

  • Assesses how Islamic banks weathered the financial crisis and what lessons can be learnt
  • Focuses on liquidity risk and the use of forward contracts to mitigate currency risk
  • Appraises the work of internal Shari’ah audit units and the use of Shari’ah reports to reduce non-compliance risks
  • Case studies from the Gulf, Malaysia, the UK, Pakistan, Turkey and GCC countries

Read and download the first chapter from Islamic Banking and Financial Crisis for free now (pdf)

Reviews

‘This book furthers the literature comparing Islamic and conventional banking during and after the most recent crisis. However, it also moves beyond that explicitly comparative method. Although there are a host of similarities between Islamic banking and its conventional counterpart, there are also differences without which the claim to being distinctive and distinctively Islamic would fall away. As a result the chapters in this collected volume comprise original innovation thereby advancing the existing literature.’
I highly recommend this compelling book to any newcomer to Islamic finance, as a primer on the subject, as well as to experts.
Table of contents
List of Figures; List of Tables; List of Contributors; 1 Reflecting on Islamic Banking and Financial Crisis: Risks, Reputation and Stability, Habib Ahmed, Mehmet Asutay and Rodney Wilson; 2 Reshaping the Islamic Finance Industry: Applying the Lessons Learnt from the Global Financial Crisis, Rafe Haneef and Edib Smolo; 3 Assessing the Resilience of Islamic Banks: An Empirical Analysis, Rania Abdelfattah and Ahmed Badreldin; 4 Stability of Islamic Banks: A Comparison of Conventional and Islamic Banks, Matthias Verbeet;5 Islamic Banks’ Financing Behaviour: A Pilot Study, Mohd Afandi Abu Bakar, Hjh Radiah Abdul Kader and Roza Hazli Zakaria; 6 Risk Management Practices of Islamic Banks: International Evidence, Romzie Rosman and Abdul Rahim Abdul Rahman; 7 Liquidity Risk Evidence Management and Financial Performance of Islamic Banks: Empirical Evidence, Noraini Mohd Ariffin and Salina Hj. Kassim; 8 Risk Management and Islamic Forward Contracts, Sherin Kunhibava; 9 Enhancing Governance, Accountability and Transparency in Islamic Financial Institutions: An Examination into Sharīʿah Internal Control Audit, Zurina Shafii and Supiah Salleh; 10 Sharīʿah Report: A Potential Tool for Sharīʿah Non-compliant Risk Management, Abdou Diaw and Irawan Febianto; 11 A Survey of Sharīʿah Governance in Islamic Financial Institutions in Malaysia, GCC Countries, and the UK, Zulkifli Hasan;12 Towards Genuine Sharīʿah Products with Lessons of the Financial Crisis, Abdulazeem Abozaid; Index
About the contributors

Habib Ahmed

Habib Ahmed is the ‘Sharjah Chair in Islamic Law and Finance’ at Durham University. Prior to joining Durham University in August 2008, he worked at the National Commercial Bank and Islamic Development Bank (IRTI) in Saudi Arabia and taught at the University of Connecticut, National University of Singapore, and University of Bahrain.

Mehmet Asutay

Mehmet Asutay is Reader in ‘Middle Eastern and Islamic Political Economy and Finance’ at the School of Government and International Affairs, Durham University, and he is also the Director of the Durham Doctoral Training Session for Islamic Economics and Finance. He mainly teaches and researches Islamic Political Economy and Islamic Finance subjects; and supervises masters and doctoral research on various aspects of Islamic moral economy and finance; political economy of the Middle East; and economic development related subjects.

Rodney Wilson

Professor Wilson was the founder of the Islamic finance programme at Durham University in the United Kingdom where he continues to be an Emeritus Professor. He was a Visiting Professor at the Qatar Faculty of Islamic Studies in from 2009 untill 2012 and since 2013 has been an Emeritus Professor at the International Centre of Education in Islamic Finance (INCEIF), Kuala Lumpur. Professor Wilson was awarded the IDB prize in Islamic banking in 2014 in recognition of his academic work on the subject.