The recent U.S. financial debacle has affected the entire world and led to major reviews of risk management in financial institutions. Perhaps a simpler alternative is just to adopt the systems used for centuries in Islamic finance. Risk Sharing in Finance expounds upon this novel idea, suggesting that the Islamic financial system can be developed for use around the world by providing a helpful paradigm for crafting global financial reforms.
Demonstrating how Islamic finance can successfully expand its array of risk sharing instruments, for example issuing government shares to finance development projects and placing limits on short sales and leveraging, the book makes a compelling case for thinking outside the box to redevelop a vibrant stock market.
Offering a timely look at financial reform, Risk Sharing in Finance draws on the expertise of author Zamir Iqbal of the World Bank, along with a host of co-authors Abbas Mirakhor, Hossein Askari, and Noureddine Krichene to present a new form of financial reform.
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DR. ZAMIR IQBAL works as Lead Investment Officer in the Treasury of the World Bank in Washington, D.C. He earned his Ph.D. in International Finance from the George Washington University, where he also serves as adjunct faculty of International Finance. He has extensive experience with capital markets, structured products, risk management, financial sector development, and financial modeling. His research interests include Islamic finance, financial engineering, structured finance and risk management. He is co-author of several books on Islamic banking and finance. He also serves as Professional Faculty at the John Hopkins Carey Business School where he teaches graduate level courses on investment and portfolio management and risk of financial institutions.
DR. NOUREDDINE KRICHENE received his Ph.D. in economics, University of California, Los Angeles, 1980; joined the International Monetary Fund (IMF) in 1986; and held the position of advisor at the Islamic Development Bank.
DR. ABBAS MIRAKHOR received his Ph.D. in Economics from Kansas State University in 1969. After teaching at various universities in the USA and in Iran he joined the staff of the Research Department of the IMF in 1984. He became an Executive Director of the IMF from 1990 until his retirement in 2008. He is the author of a number of articles and books on Islamic economics and finance. He is now the first holder of the INCEIF Chair in Islamic Finance.
Robert C. Merton
Nobel Laureate in Economics, 1997
The School of Management Distinguished Professor of Finance at the MIT Sloan School of Management and University Professor Emeritus at Harvard University
Risk Sharing in Finance: The Islamic Finance Alternative portrays how finance should ideally be done in the Islamic world. An array of different forms of equity contract substitutes for debt. The authors give a new perspective on fundamental reform of our financial system, as they also give us a vision of a future, in which financial crises are very much muted, or, like smallpox, have become a scourge of the past.
George Akerlof
Nobel Laureate in Economics, 2001
Koshland Professor of Economics, University of California at Berkeley
The recent financial crisis has highlighted the risks of excessive debt and leverage. Could a fully equity-based financial system offer a superior alternative? This thoughtful and provocative book argues that it would. Essential reading for those who want to understand how a completely Islamized financial system might work in practice.
Sir Andrew Crockett
Vice Chairman of JPMorgan Chase International; Member, The Group of Thirty; and Former Head of the Bank for International Settlement (BIS)
This is a beautifully written, crystal clear, and tremendously insightful book about what ails our financial system and how key features of Islamic finance could help. Every student of finance can and should learn from this financial gem.
Laurence J. Kotlikoff
Author, Jimmy Stewart Is Dead
William Warren Fairfield Professor of Economics, Boston University
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Descrizione libro Condizione: New. How the Islamic finance approach to risk can serve as a model for global reform The recent U.S. financial debacle has affected the entire world and led to major reviews of risk management in financial institutions. Perhaps a simpler alternative is just to adopt the systems used for centuries in Islamic finance. Series: Wiley Finance. Num Pages: 312 pages. BIC Classification: KFF. Category: (P) Professional & Vocational. Dimension: 236 x 163 x 22. Weight in Grams: 610. . 2012. 1st Edition. Hardcover. . . . . Codice articolo V9780470829660
Descrizione libro hardback. Condizione: New. Language: ENG. Codice articolo 9780470829660
Descrizione libro Hardcover. Condizione: Brand New. 1st edition. 256 pages. 9.02x5.98x1.38 inches. In Stock. Codice articolo __0470829664
Descrizione libro HRD. Condizione: New. New Book. Shipped from UK. Established seller since 2000. Codice articolo FW-9780470829660
Descrizione libro Hardcover. Condizione: New. Codice articolo 6666-WLY-9780470829660
Descrizione libro Condizione: New. How the Islamic finance approach to risk can serve as a model for global reform The recent U.S. financial debacle has affected the entire world and led to major reviews of risk management in financial institutions. Perhaps a simpler alternative is just to adopt the systems used for centuries in Islamic finance. Series: Wiley Finance. Num Pages: 312 pages. BIC Classification: KFF. Category: (P) Professional & Vocational. Dimension: 236 x 163 x 22. Weight in Grams: 610. . 2012. 1st Edition. Hardcover. . . . . Books ship from the US and Ireland. Codice articolo V9780470829660
Descrizione libro Condizione: New. PROF. HOSSEIN ASKARI is Iran Professor of International Business and International Affairs at the George Washington University. He served for two and a half years on the Executive Board of the IMF and was Special Advisor to the Minister of Finance of Saudi . Codice articolo 446913652