A critical review of the Sukuk market : a qualitative study to identify current risks and opportunities
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Legal, Regulatory and Governance Issues in Islamic Finance
The use of common and civil law to licence and govern Islamic financial institutions is examined in detail in this book. It also makes international comparisons and discusses specific laws, from Iran (where all banking is shariah compliant) to Malaysia and the gulf, where Islamic financial institutions compete with conventional banks. As most Islamic banks operate under national banking laws, consideration is given as to how their assets and liabilities differ from their conventional counterparts and what the implications are for risk management. The remit of the guide includes takaful operators, fund management and shariah compliant securities as well as Islamic banks. Key Features *Detailed examination of Islamic banking laws *Evaluation of regulatory systems governing Islamic finance *Global coverage including the Islamic world and countries with Muslim minorities *Examples of the deposit and financing terms and conditions offered by leading Islamic banks Key Words: Islamic banking; Islamic finance; shari'ah compliant securities; sukuk; takaful; Islamic funds
Implementation of Tourism Satellite Account: Assessing the Contribution of Tourism to the Croatian Economy
Compiling the indicators of tourism consumption and the output of tourism industries, Tourism Satellite Account (TSA) provides a framework for internationally harmonized measurements of direct macroeconomic contribution of tourism. Ivandic and Marusic provide a detailed methodological approach for the transfer of TSA theoretical concepts to the assessment of tourism economic contribution on the case of the Croatia. Giving that the TSA compilation is still characterized by a surprisingly wide range of ‘styles’ used, the chapter contributes to a better understanding of the issues related to measurement of direct tourism impacts. It also gives a set of baseline criteria for resource allocation within tourism policy and the further evaluation of its effectiveness.