Paris EUROPLACE has developed this Guide to assist those parties interested in learning about the possibility to issue or list sukuk in France whether using International Law or French Law. This Guide provides a summary of the regulatory environment for sukuk in France and the scope for application of such requirements. This Guide is also intended to provide guidance on the Islamic aspects of sukuk under French Law. This document does not constitute Shariah or financial advice, nor does it replace the regulatory requirements of the French Market Authority (AMF). It should be read in conjunction with the detailed requirements of NYSE Euronext Paris to form a definitive view in terms of the application of the relevant operating environment in France to each individual set of circumstances. November 2011
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The aim of this report is to assess the state of Islamic banking in North Africa, examine why it has failed to take-off and consider its future potential and how it can contribute to the economic development.
The rationale for Islamic finance is explained and its essential features described. Once shari’ah compliant financing facilities become available, funds that otherwise might not be available can be harnessed for both commercial and development projects. In addition to diversifying funding sources, Islamic finance can ensure better monitoring of how funds are deployed, improving the effectiveness of financial intermediation. A New York Sukuk? Islamic Asset Management: Uneven Development of a High-demand Service Panorama of Mutual Funds in the GCC Legislative Change in Korea: Strikes but Not Out? Dow Jones Islamic Market Indexes in April: Growth Is Beautiful—or Is It?
Bank of Finland, BOFIT Institute for Economies in Transition BOFIT Discussion Papers 2011 By Christophe J. Godlewski, Rima Turk-Ariss and Laurent Weill The last decade witnessed a proliferation in issues of sukuk, Islamic financial instruments structured to replicate the cash flows of conventional bonds. Using a market-based approach on Malaysian data, we consider whether investors react differently to the announcements of sukuk and conventional bond issues. Our findings suggest the stock market is neutral to announcements of conventional bond issues, but reacts negatively to announcements of sukuk issues. We attribute this finding to the excess demand for Islamic investment certificates and explain the difference in stock market reactions as an adverse selection mechanism that favors sukuk issuance by lower-quality debtor companies. Unlike previous studies, our findings indicate markets readily distinguish between sukuk and conventional bonds.
The UK retains position as key Western centre for Islamic finance
04 May 2011, TheCityUK The launch of TheCityUK's new report on Islamic Finance provides a landmark for promotion of the industry internationally as the UK maintains its position as the leading Western provider of Islamic financial services. Rifki ISMAL
Directorate of Islamic Bankiing Bank Indonesia Jakarta, Indonesia MULTI-YEAR EXPERT MEETING ON SERVICES, DEVELOPMENT AND TRADE: THE REGULATORY AND INSTITUTIONAL DIMENSION Geneva, 6-8 April 2011 In Indonesia, Islamic banking shows a progressive performance with a robust performance of banking indicators. Its operations engage non bank financial institutions, Islamic money and capital market and takaful (Islamic insurance) with the ultimate target of financing the real sector and improving the economy. However, there are still some challenges to be solved in particular the small market share, lack of human resources and, lack of product development. Some recommended actions are proposed in the paper to mitigate those problems and foster the development of the Islamic banking industry. Discussion Paper The Association of Chartered Certified Accountants ACCA August 2008 Islamic Finance : An Ethical Alternative to Conventional Finance ? – explores the basic tenets of Islamic finance, the role of the UK in leading its development and whether it is a serious alternative to conventional finance
Shariah Scholars and Governance - A Network Analytic Perspective v6.0 Murat Ünal, 19 January 2011
International Shari'ah Research Academy for Islamic Finance (ISRA).
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