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Fundamentals of Islamic Money and Capital Markets

Book Description

The first comprehensive guide to Islamic financial markets

Based on the course taught at the International Islamic University Malaysia, this is the first book on Islamic finance to focus exclusively on money and capital markets. Covering basic concepts as well as current practices in Islamic financial markets, the book features case studies from real markets. It outlines the theory of money in terms of value, supply, and demand, while explaining the Islamic capital markets in terms of classifications, types of operations, valuations of securities, Islamic unit trust, ETFs, Islamic stock broking, and much more.

  • Written by experts from the International Islamic University Malaysia, the leading organisation in research in Islamic finance

  • The first guide to Islamic finance focused solely on money and capital markets

An excellent introduction to money market principles for students in Islamic banking and finance, as well as researchers and current practitioners, Fundamentals of Islamic Money and Capital Markets is a vital resource on the subject.

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Dedication
  6. Preface
  7. Acknowledgments
  8. Chapter 1: An Introduction to Conventional and Islamic Financial Systems
    1. Introduction
    2. The Roles and Functions of Financial Markets
    3. Structures of Financial Markets
    4. Classification of Financial Markets
    5. Types of Financial Intermediaries
    6. A Brief Overview of the Islamic Financial System
    7. Chapter Summary
    8. Chapter Questions
    9. Notes
    10. References
  9. Chapter 2: Development of Islamic Capital and Money Markets in Malaysia
    1. Introduction
    2. Development of Islamic Financial Institutions in Malaysia
    3. Islamic Capital Markets in Malaysia
    4. Malaysia International Islamic Financial Centre (MIFC)
    5. Chapter Summary
    6. Chapter Questions
    7. Notes
    8. References
  10. Chapter 3: Regulators and Transactions Platform for Capital and Money Markets
    1. Introduction
    2. Bank Negara Malaysia (BNM)
    3. The Securities Commission (SC)
    4. Bursa Malaysia (BM)
    5. Chapter Summary
    6. Chapter Questions
    7. Notes
    8. References
    9. Websites
  11. Chapter 4: Islamic Money Market
    1. Introduction
    2. Money Market Participants
    3. Functions of the Islamic Money Market
    4. Differences between Islamic and Conventional Money Markets
    5. Components of the Malaysian Islamic Money Market
    6. Islamic Interbank Market
    7. Mudarabah Interbank Investment
    8. Profit Calculation for Mudarabah Interbank Investment
    9. Commodity Murabahah
    10. Wakalah Investment
    11. Trading of Islamic Money Market Instruments
    12. Government Investment Issue (GII)
    13. Malaysian Islamic Treasury Bills (MITB)
    14. Bank Negara Monetary Notes (BNMN)
    15. Sukuk Bank Negara Malaysia Ijarah (SBNMI)
    16. Islamic Negotiable Instruments (INI)
    17. Islamic Accepted Bill (IAB)
    18. Sell and Buy Back Agreement (SBBA)
    19. Cagamas Sukuk
    20. Chapter Summary
    21. Chapter Questions
    22. Notes
    23. References
  12. Chapter 5: An Overview of Sukuk
    1. Introduction
    2. Comparing Sukuk, Bonds, and Shares
    3. Sukuk Types
    4. Sukuk Structures
    5. Chapter Summary
    6. Chapter Questions
    7. Notes
    8. References
  13. Chapter 6: Shariah-Compliant Equity
    1. Introduction
    2. The Structure of Equity Markets
    3. Shariah-Compliant Equity Securities
    4. Differences between Shariah and Non–Shariah-Compliant Equity Markets
    5. Shariah-Compliant Stocks Screening
    6. Chapter Summary
    7. Chapter Questions
    8. Note
    9. References
  14. Chapter 7: Islamic Mutual Funds
    1. Introduction
    2. Closed and Open-Ended Funds
    3. Conventional Mutual Funds
    4. Islamic Mutual Funds
    5. Chapter Questions
    6. Notes
    7. References
  15. Chapter 8: Islamic Real Estate Investment Trusts (I-REITs)
    1. Introduction
    2. Islamic Real Estate Investment Trusts (I-REITs)
    3. Difference between Conventional and Islamic REITs
    4. Chapter Summary
    5. Chapter Questions
    6. Notes
    7. References
  16. Chapter 9: Islamic Exchange-Traded Funds
    1. Introduction
    2. Open- and Closed-End Funds, and Unit Trust Funds
    3. Exchange-Traded Funds (ETFs)
    4. Islamic Exchange Trade Funds (I-ETFs)
    5. Security Borrowing and Lending in Malaysia
    6. Islamic ETFs in Other Countries
    7. Challenges in Promoting I-ETFs
    8. Chapter Summary
    9. Chapter Questions
    10. Notes
    11. References
  17. Chapter 10: Islamic Derivatives Market
    1. Introduction
    2. Derivative Securities in the Conventional Market
    3. Derivative Securities in the Islamic Perspective
    4. Islamic Structured Product
    5. Chapter Summary
    6. Chapter Questions
    7. Notes
    8. References
  18. Bibliography
  19. About the Authors
  20. Index