000			03813cam a2200457Ia 4500
001			ocn707263992
003			OCoLC
005			20240430145210.0
008			110311s2012 si ad b 001 0 eng d
016	7		_a015757731 _2Uk
019			_a774694027
020			_a9780470829660 : _c80.00
020			_a0470829664 : _c80.00
020			_z9780470829608 (ePDF)
020			_z9780470829677 (Mobi)
020			_z9780470829615 (ePub)
035			_a(OCoLC)707263992 _z(OCoLC)774694027
040			_aBTCTA _beng _cBTCTA _dYDXCP _dUKMGB _dBWX _dCDX _dUAB _dMIA _dBDX _dMYG _dA7U
049			_aTSAA
050		4	_aHG187.4 _b.R57 2012
090			_aHG 187.4 _b.R57 2012
245	0	0	_aRisk sharing in finance : _bthe Islamic finance alternative / _cHossein Askari ... [et al.].
260			_aSingapore : _bJohn Wiley & Sons (Asia) Pte. Ltd., _c2012.
300			_axxiv, 285 p. : _bill., charts ; _c24 cm.
490	1		_a[Wiley finance]
500			_aSeries statement from book jacket.
500			_a"Glossary of Arabic [financial] terms": p. xix-xxiv.
504			_aIncludes bibliographical references (p. 259-276) and index.
505	0	0	_gpt. 1. _tThe history and causes of financial crises -- _gpt. 2. _tRisk sharing and the Islamic paradigm -- _gpt. 3. _tMoving forward.
520			_aThe financial crisis of 2008 has motivated a number of academics, practitioners and policymakers to question the fundamental stability of the conventional financial system, a system predominantly based on debt financing and leveraging; with the embedded risk that the temptation of leveraging could become excessive, and this combined with the inherent asset-liability mismatch threatens the solvency of financial institutions and overall financial stability. An alternative to the conventional financial system is a system with no debt financing, only equity or direct asset financing; where there would be no "risk shifting" as happens with debt, only "risk sharing" as happens with equity or asset-financing. Financial institutions would be serving their traditional role as intermediaries between savers and investors but with no debt on their balance sheets, no opportunity to engage in leveraging and no predetermined interest rate payments as liabilities. Such a system has been suggested by a number of noted conventional economists over the last hundred years and it is the system whose basic principles have been advocated by Islam and to some extent by other Abrahamic religions. While a number of indicators point to rapid growth in the practice of Islamic finance, much of this growth, to our mind, has been superficial. Instead of developing a risk-sharing-friendly financial system, the practice of Islamic finance has become misaligned to replicating conventional finance. In this volume, the authors make an important attempt to develop the building blocks of an Islamic financial system and elaborate on its implementation as a comprehensive system. They make a convincing case for the world to shed its reliance on debt, interest and leveraging, and revamp the global financial system to rely more heavily on equity financing, genuine asset securitization linking the payoffs of financial securities to the underlying assets, and thus promoting wider risk sharing. -- Inside Flap.
650		0	_aFinance _zIslamic countries. _9131297
650		0	_aFinance _xReligious aspects _xIslam. _9131301
650		0	_aFinancial services industry _xRisk management _zIslamic countries. _9131303
690			_aIslamic finance _9131304
700	1		_aAskari, Hossein. _918591
830		0	_aWiley finance series. _9131305
907			_a36462 _b04-04-13 _c08-16-12
942			_cBOOK _00
998			_aaudmc _b08-16-12 _cm _da _e- _feng _gsi _h0
945			_g0 _i5071511 _j0 _laudmc _o- _p295.00 _q- _r- _s- _t1 _u0 _v0 _w0 _x0 _yi1403976x _z08-09-12
999			_c36462 _d36462