Nobody downloaded yet

Comparison between financial engineering and Islamic financial engineering and is financial engineering support the banks and financial company in the credit crunch - Essay Example

Comments (0) Cite this document
Summary
1) defines conventional financial engineering as the design, production and pricing of innovations against risks from financial shocks. Financial engineering attempts to minimize or eliminate risks in financial instruments for market participants (Obaidullah…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.2% of users find it useful
Comparison between financial engineering and Islamic financial engineering and is financial engineering support the banks and financial company in the credit crunch
Read TextPreview

Extract of sample
"Comparison between financial engineering and Islamic financial engineering and is financial engineering support the banks and financial company in the credit crunch"

Download file to see previous pages El-Gamal has pointed out that Islamic financial jurisprudence has aimed at enhancing human welfare but transaction costs have been substantially reduced rendering contract-based jurisprudence incoherent (2007, p. 1). El-Gamal (2007) provides a basis for Islamic financial engineering aiming for an Islamic law compliant as well as legal risk compliant financial instruments.
An authority on the Islamic financial system is the Islamic Financial Services Board (IFSB) based in Kuala Lumpur, Malaysia. The Islamic Financial Services Board is an international standard-setting organization that seeks to promote stability of the Islamic financial services industry by issuing standards and guiding principles (IFSB 2009, p. 1). The member central banks/countries of the IFSB include Saudi Arabia, Malaysia, Bahrain, Iran, the Islamic Development Bank, Pakistan, Qatar, Singapore, Sudan, and the United Arab Emirates.
A key dimension of Islamic financial services pertains to Shari-ah governance. Unfortunately, according to IFSB documents (2009, p. 1), Shari-ah governance, despite being an often used word within the Islamic financial service institutions (IFSI), has never been “properly” defined. Nevertheless, Shari-ah governance is deemed to have been realized when a Shari-ah board believes so (IFSB 2009, p.1). El-Gamal (2003, p. 4), however, associates the Shari-ah with the Islamic Law. Following El-Gamal, Shari-ah compliance is therefore compliance with Islamic Law as judgment of competent authorities of the Shari-ah or the Islamic Laws. Gait and Worthington (2007, p. 27) clarified, however, that the main sources of the Shari-ah law are the Qu’ran, Hadith, Sunna, Ijma, Qiyas and Ijtihad.
According to the latest available IFSB (2009) document on the Shari-ah, the Shari-ah board is usually composed of scholars on the Shari-ah (alternatively known as the Shari-ah Committee or the Shari-ah Supervisory Board) but the practice over the years is ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Comparison between financial engineering and Islamic financial Essay”, n.d.)
Comparison between financial engineering and Islamic financial Essay. Retrieved from https://studentshare.org/miscellaneous/1568459-comparison-between-financial-engineering-and-islamic-financial-engineering-and-is-financial-engineering-support-the-banks-and-financial-company-in-the-credit-crunch
(Comparison Between Financial Engineering and Islamic Financial Essay)
Comparison Between Financial Engineering and Islamic Financial Essay. https://studentshare.org/miscellaneous/1568459-comparison-between-financial-engineering-and-islamic-financial-engineering-and-is-financial-engineering-support-the-banks-and-financial-company-in-the-credit-crunch.
“Comparison Between Financial Engineering and Islamic Financial Essay”, n.d. https://studentshare.org/miscellaneous/1568459-comparison-between-financial-engineering-and-islamic-financial-engineering-and-is-financial-engineering-support-the-banks-and-financial-company-in-the-credit-crunch.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Financial Upheavals. Financial crisis
...people, and in overall avoiding a far more severe downswing (Verick 2010). Comparison between the Panic of 1819 and Recession of 2008 "Asset bubbles all have a few things in common. First and foremost, they end badly." (Caroline Baum 2005 qtd. in Maloney) The two financial crises share similarities in terms of bust after a boom cycle and others such as the massive soar up in housing and equity prices, the springing up current account deficit and rising level of private debt. Banks could not foresee the rampant inflation due to pumping more money in the economy and eased credit stipulations for expansion of the economy in both the cases of US crisis. The...
10 Pages(2500 words)Essay
Financial
...known as the agency problem which is the difference of interest between the equity holders and the managers who have separate interests. This negatively affects the working of the company and can create many problems (ACCA, 2009). On the other hand, debt too has its own advantages and disadvantages. The main benefit of debt is that it can be taken for a short term and the effects can be removed when it is paid off. It does not permanently give anyone the rights to intervene in the business. The main disadvantage of using debts as a source of finance however is that it disturbs the cash flows of a business and it also has a negative impact on the gearing of the company, if it is highly...
10 Pages(2500 words)Term Paper
Financial
...?Market Prices The market prices of common stocks are a very useful piece of information for financial managers. Financial managers can evaluate which stocks to buy based on the market price. The prices of stocks in the stock market vary everyday based on the market activity. The buying behavior of investors determines the market price of the stock. When lots of people at once sell their stocks the price of stocks tend to go down. Financial managers select their portfolio composition based on the prices of different stocks. The budget the manager has must be taken into consideration. A financial manager can buy a large lot of stocks if the prices of stocks are lower....
2 Pages(500 words)Assignment
Engineering vs. Engineering Technology
...Assignment is due: Engineering vs. Engineering Technology Introduction Usually, when high schoolseniors are graduating, they often consider various fields in which to pursue their careers. In the field of engineering, there are many courses that present students with predicaments when choosing the course to pursue. Usually, one such predicament is created by the difference between engineering and engineering technology. Engineering can be described as science-oriented, stressing mathematics, involving engineering design, natural and engineering science and the development of...
4 Pages(1000 words)Research Paper
Financial Analysis of Genivar Engineering
...Genivar PLC - Financial Analysis Overview Genivar is one of the largest firms in Canada. It caters to both the private and public sector. The core competence of the company is providing a full range of consulting services that includes engineering, project management and environment management. The consulting services involve all execution phases of a project from planning to commissioning. The company employs 3,500 human resources in over 65 locations in Canada and overseas. In FY 2008, Genivar PLC recorded revenues of $387.3 million, an increase of 50.8% over FY 2007. The earnings before income tax and non-controlling interest was recorded at $18.7 million, an...
4 Pages(1000 words)Essay
Financial Management in Banks
...Introduction All banks are generally driven by the motive to achieve the maximum profit. Banks also have to face high risk for high profits. The ever rising competition in the banking sector and the increasing cost of capital create huge risks for banks in protecting themselves from future losses. Banks need to use financial management techniques in making investment and accepting new projects. Banking operations also account for major risks that bear capacity to affect a bank's cash flows, earnings and shareholder wealth. This emphasises the importance of risk management in the banking sector. It is said to be very essential because it decreases the chances of loss and enhances profit expectation. This paper discusses the use... of...
4 Pages(1000 words)Essay
Credit and Financial Analysis
... "A" or "B" next to each of the following and explain: Answer # 3. a.) Both companies are wholesales of dry goods, but A is located in Philadelphia and B in Omaha. "A" Where Credit risk is involved, some consideration also involves local economy but more precisely the credit history of the company itself irrespective of its location. A company you are lending credit can have office in both the location. Both of them are the largest city of their state. But certainly Philadelphia is much older and bigger than Omaha. Company located in better credit risk would be in A as its local economy favors it. Company A's economy is heavily based upon manufacturing, refining, food, and financial services where as B's local economy is based... 15th...
4 Pages(1000 words)Assignment
Financial
...Financial of Introduction The fundamental principles and rules by which commercial entities prepare and keep financial records are referred to as accounting methods. The major accounting methods used in businesses include the accrual and the cash basis. Among the factors affecting the choice of the accounting methods to use are sales volume, a business’ legal form, tax requirements, and its credit policies (Palmer et al., 1999). Accounting and record-keeping is not only required by the taxing and regulatory authorities but also by firms’ managers and owners for decision making and financial position analyses. Businesses should therefore choose the most suitable accounting...
1 Pages(250 words)Essay
Personal statement for Appllication to Master of Financial engineering
...of loans and performing detailed analysis of capital, credit, and loans for both existing and prospective clientele. I also worked with the Risk Department to package and sell different financial products to clientele. I was absolutely fascinated with the workings of the financial world. Banking combines my love for numbers with my skills and enthusiasm for mathematical analysis. Banking was an exciting new world and I decided that I definitely wanted to be a part of it. I believe that a Master’s degree in Financial Engineering will best equip me for a career in Banking. I plan to acquire comprehensive...
3 Pages(750 words)Personal Statement
Islamic Accounting & Financial Reporting
...Malaysia are planning to apply International Financial Reporting Standards in their Takaful insurance providers (Sherif & Shaairi, 2013). The identified approach towards financial reporting is ideally suitable and complimentary to Islamic Work Ethics and professional code of conduct. The IFRS focuses on both form and substance of the accounting cycle while; Islamic code of professional Ethics tends to support truthfulness in the business. In this way, both of the philosophies will play a significant role in terms of supporting and sustaining each other. However, the need to give the new system to operate over a longer period of time is...
10 Pages(2500 words)Assignment
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 Essay on topic Comparison between financial engineering and Islamic financial engineering and is financial engineering support the banks and financial company in the credit crunch for FREE!
logo footer
Contact us:
+16312120006
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