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.One good example related to the above discussion is the Credit Card Accountability Responsibility and Disclosure Act of 2009 (CARD Act 2009). ... As it is still in its infancy stage, the Islamic finance industry has to make sure that it does not repeat the same mistakes made by the ... The paper argues that the industry needs to do two things: One, bearing in mind the limited scope for debt in Islam, it shouldanbsp;...
|Title||:||Islamic Banking and Financial Crisis: Reputation, Stability and Risks|
|Author||:||Habib Ahmed, Mehmet Asutay, Rodney Wilson|
|Publisher||:||Edinburgh University Press - 2013-10-31|