Nobody downloaded yet

Developing a Best Practice framework for setting up an offshore jurisdiction in Islamic Finance - Dissertation Example

Comments (0) Cite this document
Developing a Best Practice Framework for Setting up an Offshore Jurisdiction in Islamic Finance Name Student Number: Supervisor: Table of Contents 1.0 Introduction 3 1.0 Introduction Islamic finance is growing stronger to become US$ 2 trillion within a decade…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.1% of users find it useful
Developing a Best Practice framework for setting up an offshore jurisdiction in Islamic Finance
Read TextPreview

Extract of sample
"Developing a Best Practice framework for setting up an offshore jurisdiction in Islamic Finance"

Download file to see previous pages Offshore jurisdictions that are fertile for Islamic finance include; Cayman Islands, Isle of Man, Jersey, Guernsey, Bahamas, British Virgin Islands, Bahrain, Labuan (Malaysia), Luxembourg, Dubai International Financial Centre and Dublin (Ireland). Other offshore jurisdiction favoured for investment includes Turks and Caicos Islands, Bermuda, Barbados, Cook Islands, Labua, Liechtenstein, Mauritius, Cyprus and Gibraltar (Academie de Droit and International de la Haye, 1995). Most of the offshore centres in the world are anxious to become influential financial locations. These offshore locations aggressively seek investors interested in global investment from any part of the world. Growth of global investments has caused unprecedented growth of offshore jurisdictions in the past years. Accumulation of petrodollars and increasing Muslim population as well as increase in infrastructural projects demanding huge amounts of capital drive global Islamic finance. Furthermore, active participation of investors and independence of countries in Islamic capital markets are some of the reasons of growth and development of global Islamic finance (Muhammad 2009). Wealthy people and entities put their assets in offshore jurisdiction to avoid their legal obligations in their jurisdiction. They seek lawful lowering of tax incidence upon their wealth and avoid exposure of assets to risks such as claims that might otherwise arise in the home jurisdiction and can be legally avoided by investing away from home. A report released by Ernst & Young Islamic funds & Investment department indicated that global Islamic fund assets stagnated at US$52.3 billion in 2009 from US$51.4 billion in 2008. This is minimal growth and Islamic fund managers must adapt their strategies and operational models in line with new level expectations. Shariah investable assets have experienced strong growth over the years. Director at Ernst & Young’s Islamic Financial Services Ashar Nazim said that Shariah investable pool grew by 20% from US$ 400 billion in 2008 to US$ 480 billion in 2009 (Investors Offshore n. d. ). Islamic Finance has remained strong despite the global credit crisis that shook global financial markets. This is because Islamic Finance has demonstrated promising banking behaviour over years. Trusts are normally set up to protect assets transferred to an offshore jurisdictions from the claims of creditors who might come into existence in future time but are nonexistent at the time of transfer of the assets of the offshore trusts. The transferors also aim to provide among members of their families in way that could not be done, were the forced heir ship provisions of the home jurisdiction enforced against the migrant property of the person. Offshore transfer of funds makes the transferor to have the advantage of trust provisions which are not known in the home jurisdiction. 2.0 The Research Problem Islamic Finance is becoming one of the most admirable financing products across the world. Both Muslims and non-Muslims are approaching Islamic banks and Islam based financial institutions to meet their banking and financial needs. Islamic Finance is based on the teachings of Koran (Shariah Law) and does not operate like a conventional financial institution. Therefore, it has a totally different best practice framework, which must meet the dictates of the Koran. Unlike conventional banks, Islamic banks are faced with more challenges in terms of inadequate or failed internal processes, ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Developing a Best Practice framework for setting up an offshore Dissertation”, n.d.)
Retrieved from https://studentshare.org/gender-sexual-studies/1410460-developing-a-best-practice-framework-for-setting
(Developing a Best Practice Framework for Setting up an Offshore Dissertation)
“Developing a Best Practice Framework for Setting up an Offshore Dissertation”, n.d. https://studentshare.org/gender-sexual-studies/1410460-developing-a-best-practice-framework-for-setting.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
Exploring the opportunites and challenges of Developing Islamic Financial services in Seychelles
oup in relation to Africa, Middle East and Europe 3 Figure 1.2: Map of Seychelles 4 Figure 1.4.1: Profits, Liquidity and Capital Adequacy of Banks in Seychelles vis-a-vis Other Economies 21 List of Tables Table 1.5.1: A Full List of Stakeholders for the Research 24 Acknowledgements Declaration of Originality DOCTORAL DISSERTATION SUBMISSION FORM Student’s family name: First names: Student ID No: Course: Supervisor: Dissertation Title: Exploring the Opportunities and Challenges of Developing Islamic Financial Services in Seychelles Declaration I certify that this dissertation is my own work.
20 Pages(5000 words)Dissertation
Islamic Bank operating framework: a casestudy of Dubai and Malasyia banks
Some conventional banks have integrated Islamic banking by creating subsidiaries that offer Shari’ah products. Jurisdiction’s Central Bank Acts, Islamic Financial Services Board and Auditing Organization for Islamic Financial Institutions have been created to provide framework under which Islamic Banks will operate.
15 Pages(3750 words)Dissertation
Assessment of the factors influencing profitability within refractive clinics and recommendations for best practice management
The study is done in two settings the first being an online platform with 40 participants (n=40) and the second being closed door, eight interview sessions involving 28 participants (n=28) at two private clinics in north one in Turin and the other in Milan.
44 Pages(11000 words)Dissertation
Islamic Finance Law
In the changing format of globalization and technology, the complex structure of international, national and regional economics and finance has become a major challenge for the global entities. The traditional model of financial institutions needs to incorporate wider interests of emerging new pluralistic society.
6 Pages(1500 words)Dissertation
Brief Background The global financial market is one of the highly affected areas of financial stability during the emergence of financial crisis which also delayed economic developments. It has been reported that Islamic banks are not greatly affected by global financial crisis unlike the tremendous losses incurred by conventional banks in a cross-country examination.
8 Pages(2000 words)Dissertation
Current Issues in Islamic and Finance: Resilience and Stability in the Present System
Both forms of methodologies have their uses, but this analysis will use essentially a qualitative method. A survey strategy will be employed in order to secure the necessary numerical data pertaining to the challenges and opportunities posed by Islamic banking practices – especially in terms of adapting these practices to the Seychelles island chain.
29 Pages(7250 words)Dissertation
International source of finance for india as developing country
Sources 28 Methodological Framework 32 Conclusion 37 Chapter 4: Findings and Analysis 38 Introduction 38 Presentation of Empirical Results and Interpretation 39 Analysis of Result 53 Conclusion 55 Chapter 5: Conclusion 55 Introduction 55 Summary of the Study with Emphasis on Key Findings 56 Implication of Findings 57 Direction for Further Research 58 References 59 Bibliography 62 Appendices 63 Chapter 1: Introduction Background of the Study The economy of India has undergone an intense evolution over the previous fifteen years, due in large part to restructurings instituted by the current prime minister, a respected international economist and a former finance minister (Kanuk, 2007, p.1).
48 Pages(12000 words)Dissertation
Islamic banking
The objective of research is to examine the awareness of Muslims and non-Muslims customers and bank authorities of Islamic banking notably in Saudi Arabia and UK about the function and concept of this system through reaction toward it; to evaluate the performance of Islamic banking based on the available financial data.
78 Pages(19500 words)Dissertation
Islamic finance
Islamic finance is guided by ethical concepts prescribed by Sharia in relation to money and capital and the association between profit and risk as well as the social obligations of financial institutions. It has grown into a global and cosmopolitan financial system, committed to a text that may be accessed by all people.
8 Pages(2000 words)Essay
Offshore Corporation/Tax Haven
Due to faster planes, the Internet, electronic documents, digital demands, and virtual everything, it definitely is a small word after all! Internationalization is something that the business environment must consider or those who do not will fall behind as they cannot keep up with the global way of conducting business.
60 Pages(15000 words)Dissertation
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Dissertation on topic Developing a Best Practice framework for setting up an offshore jurisdiction in Islamic Finance for FREE!
logo footer
Contact us:
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us