Understanding Islamic Finance - Doha Academy of Tertiary Studies

Index 515project financingin construction and erection of plants 373–4syndication arrangements for Sukuk issue andsecuritization 374promise, see Ahd/W’adah (promise)property, in Islamic commercial law 101–2Qimi goods 102–3rates of return, in Islamic finance 448–50refinancing schemes, by Central Banks 377–8religion, role in economics 10–11principles of Islamic finance 11–13trade regulations 13–14repayment of debts, see loan and debt, inIslamic commercial lawrevelation and Islamic economic system 21–2Riba, prohibition ofconnotation of term 52–3differentiating the contracts for 48–9in the Holy Qur’ān and Sunnah 44–7in insurance 419in loans/debts 47misconceptions 49–51and other factor payments 57in other religions 53–4rationale for 54–7in sale/exchange contracts 51–2rights of Allah (SWT) 22, 64, 113, 302, 422,433, 437, 475risk premium, in Takaful system 427risk profile, of Islamic banks 452Salam contract 104, 108, 113accounting practices by banks 262–3disposing of goods purchased 250–2economic role 242–3features of a valid 243–9as financing technique by banks 257–63flow of Salam transactions by banks 256post execution scenarios 252–4preshipment export financing 260and refinance by the Central Banks (CBs)260–1risks in 258–9rules 255–6security or a pledge in a 249–50Sukuk or certificates (SC) 254–5vs Murabaha 257for working capital finance 261, 370Salam Securities/Sukuk 403–4sale/exchange transactions, in Islamic economicsystem, see Riba, prohibition ofsecuritizationAAOIFI standards 392on the basis of Murabaha and MurabahaSukuk 405–6benefits 392case study 414–15categories of Sukuk 398–407concept 391–2issues in terms and structures of Sukuk409–11parties are involved in Sukuk transactions393–4risk, contract and cash flow analysis 395Sharī´ah standards 396–8special purpose vehicle (SPV) 394–5Sukuk in fund management 411–12Sukuk issues in various countries 409tradability of Sukuk 407–9trading of securitized papers 392–3securitized papersasset-backed securitization (ABS) 393collateralized debt/loan obligations 394mortgage-backed securitization 394pool-based securitization 393shares/certificates distribution, in joint stockcompanies 329–30Sharī´ahcriticisms on different interpretations 441–2functions of supervisory board 387–8importance to the role of information 66–7insurance (Takaful) 420–2objections to modern leases 291objectives 22–5principles on capital markets 390prize bond schemes in 63prohibitions, see prohibitions, in Islamiceconomics and financeprotection and preservation in 23–4rules 22source of tenets and information 21–2standards for securitization 396–8on various cards 380–1Waqf in 421Shariat Appellate Bench (SAB), of the SupremeCourt of Pakistan 50–1Shirkah, see participatory modes (Shirkah)Shirkah al Inan (general partnership) 310Shirkah-al-Mufawadah (universal partnership)310