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Arab Credit Reporting Guide
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Year: 2015 Publisher: Washington, D.C. : The World Bank,

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Abstract

During the first decade of this century, from 2001 to 2010, attention focused on the development of the credit information industry in the Middle East and North Africa (MENA) region. As MENA's role in the global economy increases along with its attendant demographic integration, the development of comprehensive information sharing systems across the region has become an imperative. The overall credit information system in the region requires reform at the initiative of stakeholders. Among the challenges are the diverse levels of technology, and lack of awareness and discipline in data collection. In response to traditional risk-assessment methods and, in some cases, a resistance to change, stakeholders have been encouraged to undertake innovative changes in the methods of risk evaluation being used by the credit industry. IFC and AMF commissioned the production of this guide to map progress and provide an overview of the credit reporting systems in the region. For the first time, an index representing a quantification of credit reporting in each country has been developed. To offer lessons learned, the guide highlights selected global trends and best practice for credit information sharing. The guide contains case studies of the 19 MENA countries with specific recommendations for local conditions.


Periodical
International journal of Islamic economics and finance studies.
ISSN: 21498393 21498407 Year: 2015 Publisher: [Serdivan, Turkey] : Centre of Political Economical and Social Research (PESA),


Book
On the Sustainable Development Goals and the Role of Islamic Finance
Authors: --- --- ---
Year: 2015 Publisher: Washington, D.C., The World Bank,

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The Sustainable Development Goals, the global development agenda for 2015 through 2030, will require unprecedented mobilization of resources to support their implementation. Their predecessor, the Millennium Development Goals, focused on a limited number of concrete, global human development targets that can be monitored by statistically robust indicators. The Millennium Development Goals set the stage for global support of ambitious development goals behind which the world must rally. The Sustainable Development Goals bring forward the unfinished business of the Millennium Development Goals and go even further. Because of the transformative and sustainable nature of the new development agenda, all possible resources must be mobilized if the world is to succeed in meeting its targets. Thus, the potential for Islamic finance to play a role in supporting the Sustainable Development Goals is explored in this paper. Given the principles of Islamic finance that support socially inclusive and development promoting activities, the Islamic financial sector has the potential to contribute to the achievement of the Sustainable Development Goals. The paper examines the role of Islamic financial institutions, capital markets, and the social sector in promoting strong growth, enhanced financial inclusion, and intermediation, reducing risks and vulnerability of the poor and more broadly contributing to financial stability and development.


Book
On the Sustainable Development Goals and the Role of Islamic Finance
Authors: --- --- ---
Year: 2015 Publisher: Washington, D.C., The World Bank,

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Abstract

The Sustainable Development Goals, the global development agenda for 2015 through 2030, will require unprecedented mobilization of resources to support their implementation. Their predecessor, the Millennium Development Goals, focused on a limited number of concrete, global human development targets that can be monitored by statistically robust indicators. The Millennium Development Goals set the stage for global support of ambitious development goals behind which the world must rally. The Sustainable Development Goals bring forward the unfinished business of the Millennium Development Goals and go even further. Because of the transformative and sustainable nature of the new development agenda, all possible resources must be mobilized if the world is to succeed in meeting its targets. Thus, the potential for Islamic finance to play a role in supporting the Sustainable Development Goals is explored in this paper. Given the principles of Islamic finance that support socially inclusive and development promoting activities, the Islamic financial sector has the potential to contribute to the achievement of the Sustainable Development Goals. The paper examines the role of Islamic financial institutions, capital markets, and the social sector in promoting strong growth, enhanced financial inclusion, and intermediation, reducing risks and vulnerability of the poor and more broadly contributing to financial stability and development.


Book
IMF Research Bulletin, June 2015.
Author:
ISBN: 1513522388 1513503979 Year: 2015 Publisher: Washington, D.C. : International Monetary Fund,

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In the June 2015 issue, the Research Summaries review "Migration: An Attractive Insurance Option in African Countries" (Ahmat Jidoud) and "Investment in Emerging Markets" (Nicolas E. Magud and Sebastian Sosa). The Q&A looks at "Seven Questions on Islamic Finance” (Inutu Lukonga). The Bulletin also includes its regular listings of recent IMF Working Papers and Staff Discussion Notes, as well as information on the "IMF Economic Review." A new IMF eLibrary discussion site on energy and climate change is highlighted, along with new recommendations from IMF Publications.


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Finance and Development, September 2015.
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ISBN: 1475582005 1475536372 1475553188 Year: 2015 Publisher: Washington, D.C. : International Monetary Fund,

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This chapter presents the point of view and ideas of Sabina Alkire, an economist. Alkire wants the Multidimensional Poverty Index to be part of a data revolution to guide the fight against poverty. According to Alkire, learning to meditate soothed away what she describes as the temper tantrums of her childhood. The chapter also highlights the fact that an index is only as good as its underlying data, and in emerging market economies that quality is often inadequate. The quest for better poverty metrics coincides with growing doubts about the ability of conventional statistics, especially GDP, to gauge economic growth in the digital economy, let alone well-being, welfare, and environmental sustainability.


Book
Monetary Operations and Islamic Banking in the GCC : Challenges and Options
Authors: --- ---
ISBN: 1513557572 1513555049 Year: 2015 Publisher: Washington, D.C. : International Monetary Fund,

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The assessment provides evidence of market segmentation across Islamic and conventional banks in the Gulf Cooperation Council (GCC), leading to excess liquidity, and an uneven playing field for Islamic banks that might affect their growth. Liquidiy management has been a long-standing concern in the global Islamic finance industry as there is a general lack of Shari’ah compliant instruments than can serve as high-quality short-term liquid assets. The degree of segmentation and bank behavior varies across countries depending on Shari’ah permissibility and the availability of Shari’ah-compliant instruments. A partial response would be to support efforts to build Islamic liquid interbank and money markets, which are crucial for monetary policy transmission through the Islamic financial system.This can be achieved, to a large extent, by deepening Islamic government securities and developing Shari’ah-compliant money market instruments.


Book
An Overview of Islamic Finance.
Authors: --- ---
ISBN: 9781513561486 1513561480 9781513565620 1513565621 1513519603 9781513519609 Year: 2015 Publisher: Washington International Monetary Fund

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Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.

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