1569 records matched your query
05294aam a2200469Ii 4500 001 EE715AE2033911E8972C924897128E48 003 SILO 005 20180127021036 008 160928t20172016dcua b i000 0 eng d 020 $a 1464809267 020 $a 9781464809262 035 $a (OCoLC)959275005 040 $a YDX $b eng $e rda $c YDX $d BTCTA $d OCLCQ $d DJB $d DCWBL $d OCLCF $d UtOrBLW $d SILO 043 $a ma----- $0 http://id.loc.gov/vocabulary/geographicAreas/ma 050 14 $a HJ1438 $b .I78 2016 245 00 $a Islamic finance : $b a catalyst for shared prosperity? 246 1 $i At head of title: $a Global report on Islamic finance 246 18 $a Global report on Islamic finance, Islamic finance 264 1 $a Washington, D.C. : $b World Bank Group, $c [2017] 300 $a xxviii, 218 pages : $b color illustrations ; $c 27 cm 500 $a "This report was prepared as a Joint initiative of the World Bank Group (WBG) and the Islamic Development Bank Group (IDBG). The team was led by Azmi Omar, Director General of the Islamic Research and Training Institute (IRTI), IDBG, and Zamir Iqbal, lead financial sector specialist, Finance and Markets (F&M) Global Practice, Workd Bank"--page xiii. 530 $a Also available online. 504 $a Includes bibliographical references. 505 0 $a Contents -- Foreword -- Acknowledgements --Glossary -- Abbreviations -- Overview -- 1. Islamic finance and shared prosperity -- 2. The state of development and shared prosperity in OIC countries -- 3. The Islamic banking sector -- 4. Islamic capital markets -- 5. TakaÌful (Islamic insurance), RetakaÌful, and MicotakaÌful -- 6. Nonbank financial institutions -- 7. Alternative asset classes -- 8. Islamic social finance -- 9. Public policy measures to enhance shared prosperity -- Chatper attributions -- Index. 520 3 $a Income inequality has increased considerably in the aftermath of the financial crisis of 2007--08 to the extent that one percent of global population possess almost half of the global assets. Whereas the development community is unanimous to tackle growing inequality and imbalance in the distribution of wealth, there is a difference of opinion as to the approaches to achieve this goal. This report presents a perspective from Islamic finance on how shared prosperity can be enhanced. The theoretical framework for economic development by Islamic economics and finance is based on four fundamental pillars: (i) an institutional framework and public policy oriented to the development objectives of Islam; (ii) prudent governance and accountable leadership; (iii) promotion of the economic and financial system based on risk sharing; and (iv) financial and social inclusion for all, promoting development, growth, and shared prosperity. There is evidence that Islamic finance is experiencing high growth with the banking sector leading the way. Several countries are working seriously towards developing standards, regulation and legal frameworks for the development of Islamic finance. However, there are a number of aspects where policy interventions or improvements in policy effectiveness are needed to develop Islamic finance to promote shared prosperity. Without the enabling environment, Islamic finance may not be able to attain the potential expected of it. With adequate policy interventions and enabling financial infrastructure, Islamic finance could become a catalyst for alleviating poverty and inclusive prosperity. The key findings of the report include a need for sound regulatory framework for Islamic financial institutions due to the obvious differences from the conventional banks, harmonizing of Shariah standards and more discourse related to the underlying mechanism of Islamic financial products. Islamic capital markets both equity and Sukuk (Islamic bonds) are vital for the development of Islamic financial markets. Finally, instruments of Islamic social finance and redistribution could contribute further to enhance the shared prosperity. 650 0 $a Finance, Public $z Islamic countries. $0 http://id.loc.gov/authorities/subjects/sh85048287 650 0 $a Finance (Islamic law) $0 http://id.loc.gov/authorities/subjects/sh88004573 650 0 $a Banks and banking $z Islamic countries. $0 http://id.loc.gov/authorities/subjects/sh85011639 650 0 $a Income distribution $z Islamic countries. 650 7 $a Banks and banking. $2 fast $0 (OCoLC)fst00826867 650 7 $a Finance (Islamic law) $2 fast $0 (OCoLC)fst00924432 650 7 $a Finance, Public. $2 fast $0 (OCoLC)fst00924477 650 7 $a Income distribution. $2 fast $0 (OCoLC)fst00968670 651 7 $a Islamic countries. $2 fast $0 (OCoLC)fst01244130 700 1 $a Omar, Mohd Azmi, $e author. $0 http://id.loc.gov/authorities/names/n2015040880 700 1 $a Iqbal, Zamir, $e author. $0 http://id.loc.gov/authorities/names/no2004034335 710 2 $a World Bank Group, $e issuing body. $0 http://id.loc.gov/authorities/names/n50067917 710 2 $a Islamic Development Bank, $e issuing body. $0 http://id.loc.gov/authorities/names/n77013487 776 08 $i Online version: $t Islamic finance. $d Washington, D.C. : World Bank Group, [2017] $z 9781464809279 $w (OCoLC)974643165 941 $a 1 952 $l OVUX522 $d 20191214020041.0 956 $a http://locator.silo.lib.ia.us/search.cgi?index_0=id&term_0=EE715AE2033911E8972C924897128E48Initiate Another SILO Locator Search