Studentshare
Subjects
Law
International Regulatory Bodies and Standards for Islamic Financial Institutions

Free

International Regulatory Bodies and Standards for Islamic Financial Institutions - Research Paper Example

Add to wishlist

Summary

The paper "International Regulatory Bodies and Standards for Islamic Financial Institutions" focuses on the critical analysis of Islamic banking, its regulation, and challenges faced in regulation. Accounting for Islamic finance is done as a requirement in the Quran…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER97% of users find it useful

International Regulatory Bodies and Standards for Islamic Financial Institutions

Read Text

Subject: Law
Type: Research Paper
Level: Undergraduate
Pages: 19 (4750 words)
Downloads: 0

Extract of sample "International Regulatory Bodies and Standards for Islamic Financial Institutions"

Table of Contents

I.Abstract3

II.Introduction3

III.Body4

Principles and characteristics of Islamic finance4

Detailed Moral and Ethical Screen5

Prohibition of Interest or Riba6

Realism or real-life validity6

Rationale for regulation7

The Legal, Corporate and Regulatory Frameworks in Islamic Banking8

The legal framework8

Corporate Governance9

The Regulatory Framework10

Challenges faced by regulatory bodies in regulating IFIS10

Protection of Depositors11

Motoring of Islamic assets12

Bank inspection12

Islamic accounting and the need for Islamic accounting standards13

The work of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB)14

Implementation of the Islamic Accounting Standards15

The Supervision of IFIs In Practice16

IV.Conclusion17

Cite this document

APA
MLA
CHICAGO

(International Regulatory Bodies and Standards for Islamic Financial Institutions Research Paper Example | Topics and Well Written Essays - 4750 words, n.d.)
International Regulatory Bodies and Standards for Islamic Financial Institutions Research Paper Example | Topics and Well Written Essays - 4750 words. https://studentshare.org/law/2095155-international-regulatory-bodies-and-standards-for-islamic-financial-institutions

(International Regulatory Bodies and Standards for Islamic Financial Institutions Research Paper Example | Topics and Well Written Essays - 4750 Words)
International Regulatory Bodies and Standards for Islamic Financial Institutions Research Paper Example | Topics and Well Written Essays - 4750 Words. https://studentshare.org/law/2095155-international-regulatory-bodies-and-standards-for-islamic-financial-institutions.

“International Regulatory Bodies and Standards for Islamic Financial Institutions Research Paper Example | Topics and Well Written Essays - 4750 Words”. https://studentshare.org/law/2095155-international-regulatory-bodies-and-standards-for-islamic-financial-institutions.

Cited: 0 times

CHECK THESE SAMPLES OF International Regulatory Bodies and Standards for Islamic Financial Institutions

Regulatory, Cultural and Ethical Dimensions to the Introduction of International Accounting Standards

More so, GAAP include a combination of commonly accepted practices and local board authoritative policies and standards of reporting... Local regulatory bodies aim to ensure that full accountability and transparency is achieved in financial reporting through both local regulations and compliance to International Accounting Standards.... Local regulatory bodies aim to ensure that full accountability and transparency is achieved in financial reporting through both local regulations and compliance to International Accounting Standards....

9 Pages (2250 words) Essay

Setting up Offshore Jurisdiction in Islamic Finance

The market for islamic financial products is at least USD 5 trillion.... Both Muslims and non-Muslims are approaching Islamic banks and Islam based financial institutions to meet their banking and financial needs.... 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.... 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)....

12 Pages (3000 words) Dissertation

The Islamic Banks and their Requirements

There are various financial regulatory bodies in the United Kingdom.... The regulatory measures that are to be adopted in the financial services should be those that respond differently to each of the emerging situations as per the specific requirements of the situation (Consumer Focus, 2010, p.... The regulatory approach that is to be adopted after a given financial crisis should be different from the previous approaches and it depends on the current situations that are experienced....

11 Pages (2750 words) Essay

The Concept of Islamic Banking

Bahrain hosts the largest concentration of islamic financial institutions.... This islamic financial system employed the concept of involvement in the enterprise, using the funds at a risk on the basis of profit and loss sharing (Memon, 2007).... Having knowledge about Islamic finance is quite necessary from the perspective of financial stability.... As time moves on, at the echelon of more economic and financial activities, it got more and more difficult to keep a distance from the banking activities....

10 Pages (2500 words) Term Paper

Islamic Accounting and Reporting

There is a wide range of differences between the national rules of accounting and the IFRS which stands for the international financial reporting standards.... The paper 'islamic Accounting and Reporting ' is a felicitous example of a finance & accounting case study.... The paper 'islamic Accounting and Reporting ' is a felicitous example of a finance & accounting case study.... The uniformity of the management of the accounting standards will result in liquidity and also a division of labor....

8 Pages (2000 words) Case Study

Islamic Accounting and Financial Reporting

The paper 'Islamic Accounting and financial Reporting' is a thoughtful example of a finance & accounting case study.... The paper 'Islamic Accounting and financial Reporting' is a thoughtful example of a finance & accounting case study.... Since 2001 all-new standards of accounting set by the International Accounting Standard Board came to be known as the International financial Accounting Standard (Wystocka, 2008).... Other objectives include the promotion of implementation and thorough compliance with the set standard and activities towards the fusion of International financial Reporting Standards and local accounting standards followed in individual countries....

7 Pages (1750 words) Case Study

The IASB Convergence Programme of Accounting Standards

There has been conflicting, complexity and confusion caused by the inconsistency and lack of streamlined accounting standards in International financial Reporting (Benston, 2008).... There has been conflicting, complexity and confusion caused by the inconsistency and lack of streamlined accounting standards in International financial Reporting (Benston, 2008).... There has been conflicting, complexity and confusion caused by the inconsistency and lack of streamlined accounting standards in International financial Reporting (Benston, 2008)....

15 Pages (3750 words) Coursework

Islamic Banking and Finance Infrastructure Institutions

In a non-interest islamic financial structure, the question is: how might the Islamic banking institutions assist in this respect.... The earliest model of islamic financial structure came into existence in 1964 in Egypt.... It also comprises banking institutions and such civic services as medical and learning.... The paper "Islamic Banking and Finance Infrastructure institutions" is a perfect example of a finance and accounting case study....

10 Pages (2500 words) Case Study