Profit & Loss Sharing  - Hanif, Muhammad

Profit & Loss Sharing

Muhammad Hanif

Yayınevi: CreateSpace

Yayın tarihi: 05/2014

ISBN: 9781500540593

İngilizce | 120 Sayfa | 15,24x22,86x0,76 cm.

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Islamic banking and finance industry is expanding world over with an unprecedented growth. The global volume of Shari’a compliant assets has reached to US $ 1,700 Billion by the end of 2013, displaying a growth of 21% from 2007-13 (GIBCR-2014) Middle East and North Africa (MENA) region is the centre of Islamic finance market and contributes 74% share in global assets under Islamic finance, followed by East Asian region with a share of 17% while 9% from rest of the world. (IFSL, 2013). Share of Bank assets is 90% followed by equity funds 5% and rests are others in the global volume of assets under Islamic finance. In Pakistan Islamic financial services are expanding nationwide; and by the end of September 2013, number of Islamic Banking Institutions (IBIs) has reached to 19 with the branch network of 1,161. Islamic finance has grown at 28% per annum for 2008-13 (SBP-2013). For Islamic financial industry, deposit collection is not as much difficult as is financing and investments in business and industry. The investment avenues are limited due to Shari’a compliance restrictions as compared to conventional banks. For IFIs, Shari’a compliant modes of investments are a must. Conventional interest based bonds, leasing and insurance companies’ certificates and government securities are not in line with Islamic financial system. However investment in equities, which are primarily profit and loss sharing based, fall within Shari’a compliant investment universe. This book is result of Six years teaching of Islamic finance course to MBA Finance students. This book is written with a clear focus on learning of profit and loss sharing mechanism (developed under Islamic financial system) by accounting, banking, business and finance students/professionals. This book deals with profit and loss sharing modes of financing including Musharaka, diminishing Musharaka and Mudaraba. A special section is devoted to discuss the causes of lesser application of Musharaka in operations of IFIs, in addition to Shari’a rulings and financial impact. Chapter two is about Diminishing Musharaka; a form of gradually declining partnership between an IFI and clients; generally used to finance real estates. Under diminishing Musharaka, I have discussed the basic Shari’a rulings, Islamic house financing, comparative study of conventional and Islamic mortgages and installment calculation under different assumptions for house financing. Chapter three is about Mudaraba. Under this scheme of financing IFIs provide capital to financially weak but skilful people to do the business and share outcome with IFIs. Increased number of true/false, multiple choice questions and mini cases are also forming part of updated edition. This book useful for accounting & finance professionals, trainers in Islamic banking, regulators, investors, corporate managers and general public, interested in understanding Islamic finance. I hope this book will serve its purpose through imparting knowledge of Islamic banking & finance among accounting, business and finance graduates as well as practitioners of Islamic financial system, investors and general public.

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