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Implementing the IFSA investment account: a risk-sharing banking model

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dc.contributor.authorSiti Muawanah Lajis
dc.contributor.authorHissam Kamal Hassan
dc.contributor.authorAdam Shishani
dc.contributor.authorOmar Alaeddin
dc.contributor.authorSaid Bouheraoua
dc.contributor.authorNoor Suhaida Kasri
dc.date.accessioned2023-04-18T07:28:14Z
dc.date.available2023-04-18T07:28:14Z
dc.date.issued2016
dc.description.abstractRecent calls for risk-sharing - as expounded in the 2012 Kuala Lumpur Declaration, the 2014 Jeddah Declaration and the 2014 International Monetary Fund statement - elucidate the present situation of Islamic banking and finance: an acknowledgement that risk sharing is a "salient characteristic" of Islamic financial transactions on the one hand and that it is "not deeply embedded" on the other. The objective of this practical evidence-based research paper is to address this schism between prescription and practice. It recapitulates the principles underpinning risk sharing and the reasons why it is integral to the Shar??ah and why (as stated in the Declaration) risk transfer and risk shifting violate a Shari'ah principle. he paper presents preliminary research utilizing empirical data from Malaysian Islamic banks and the Malaysian stock market as a proxy for the real economy. It considers newly enacted Malaysian legislation, the Islamic Financial Services Act 2013 (IFSA), from the perspective of its aim to more clearly define the products and activities of Islamic banks.en_US
dc.identifier.citationBouheraoua, S., Kasri, N. S., Lajis, S. M., Hassan, H. K., Shishani, A., & Alaeddin, O. (2016). Implementing the IFSA investment account: a risk-sharing banking model. Kuala Lumpur, Malaysia: International Shari'ah Research Academy for Islamic Finance (ISRA).en_US
dc.identifier.urihttps://ikr.inceif.edu.my/handle/INCEIF/3765
dc.languageEnglish
dc.language.isoengen_US
dc.publisherInternational Shari'ah Research Academy for Islamic Finance (ISRA)en_US
dc.rights2016. International Shari'ah Research Academy for Islamic Finance (ISRA)
dc.sourceSEDONA
dc.subjectRisk-sharingen_US
dc.subjectIslamic Financial Services Act (IFSA) 2013en_US
dc.subjectInvestment Account Platform (IAP)en_US
dc.subjectIslamic banksen_US
dc.titleImplementing the IFSA investment account: a risk-sharing banking modelen_US
dc.typeResearch Monographen_US
dlc.maintopicIslamic bankingen_US
dspace.entity.typePublication
ikr.doctypeScholarly Works
ikr.topic.maintopicIslamic bankingen_US
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