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Takaful and Islamic cooperative finance : challenges and opportunities

Author: S Nazim Ali; Shariq Nisar
Publisher: Cheltenham, UK ; Northampton, MA, USA : Edward Elgar Publishing, [2016] ©2016
Series: Studies in Islamic finance, accounting and governance.
Edition/Format:  Print book : Conference publication : EnglishView all editions and formats
Summary:
Islamic finance distinguishes itself from conventional finance with its strong emphasis on the moral consequences of financial transactions; prohibiting interest, excessive uncertainty, and finance of harmful business. When it comes to risk mitigation, it is unique in its risk sharing approach.
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Genre/Form: Conference papers and proceedings
Congresses
Additional Physical Format: ebook version :
Material Type: Conference publication
Document Type: Book
All Authors / Contributors: S Nazim Ali; Shariq Nisar
ISBN: 1785363352 9781785363351
OCLC Number: 958780874
Notes: 'Chapters included in this book were carefully selected from the pool of over 200 submissions for the 11th Harvard University Forum on Islamic Finance held on 25 to 27 April 2014'--Page xviii.
Description: xxvii, 345 pages : illustrations ; 24 cm.
Contents: Part I: introduction to takaful: form, function and criticism --
1. Takaful journey: the past and present and future / Ajmal Bhatty and Shariq Nisar --
2. Solidarity, cooperation, and mutuality in takāful / Volker Nienhaus --
3. Mutuality, reciprocity, and justice within the context of a unified theory of riba and ghara / Mahmoud A. El-Gamal --
4. A proposed marriage between endowments, mutual insurance, and the institution of agency in Islamic law: an introduction to the waqf-wakalah model of takaful / Abdullah Nana --
5. A critical shari'ah review of takaful structures: towards a better model / Abdulazeem Abozaid --
Part II: regulatory environment and legal aspects of takaful --
6. New horizons: the potential for shari'ah-compliant cooperative and mutual financial services / Sara E. B. Carmody --
7. Toward a watershed in takaful dispute resolution: from litigation to effective dispute management / Umar A. Oseni --
8. Fatwā and its role in regulatory capture and arbitrage / Joe W. Bradford --
Part III: takaful product analysis --
9. The nature of retakaful: risk sharing or transferring risks? / Abu Umar Faruq Ahmad; Ismail Bin Mahbob; and Muhammad Ayub --
10. Commercial credit takaful / Muhammad Al Bashir Muhammad Al Amine --
11. Shari'ah compliant high watermark protected lifetime annuity in family takaful? / Hiba Allam and Volker Nienhaus --
Part IV: takaful as social finance --
12. Reimagining takaful: a new model for social banking / Hussam Sultan and Abdur-Rahman Syed --
13. Islamic co-operatives: a route to poverty alleviation and economic development / Mian Farooq Haq and Bushra Shafiq --
14. Scaling poverty reduction in indonesia: enhancing the institutional effectiveness of islamic microfinance institutions / Tanvir Ahmed Uddin and Muhammad Maaz Rahman --
15. Micro-takaful in India: a path towards financial inclusion & sustainable development / Mohammad Faisal, Asif Akhtar, Asad Rehman and M. Abdul Samad.
Series Title: Studies in Islamic finance, accounting and governance.
Responsibility: edited by S. Nazim Ali (Research Professor and Director, Center for Islamic Economics and Finance, Hamad Bin Khalifa University, Qatar), Shariq Nisar (Adjunct Professor, ITM Business School, Mumbai, India).

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Islamic finance distinguishes itself from conventional finance with its strong emphasis on the moral consequences of financial transactions; prohibiting interest, excessive uncertainty, and finance  Read more...

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'This volume is probably the first of its kind in which the topic of takaful - often neglected by literature - is dealt with in a comprehensive fashion by leading academics and practitioners. The Read more...

 
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Bradford -- Part III: takaful product analysis -- 9. The nature of retakaful: risk sharing or transferring risks? \/ Abu Umar Faruq Ahmad; Ismail Bin Mahbob; and Muhammad Ayub -- 10. Commercial credit takaful \/ Muhammad Al Bashir Muhammad Al Amine -- 11. Shari\'ah compliant high watermark protected lifetime annuity in family takaful? \/ Hiba Allam and Volker Nienhaus -- Part IV: takaful as social finance -- 12. Reimagining takaful: a new model for social banking \/ Hussam Sultan and Abdur-Rahman Syed -- 13. Islamic co-operatives: a route to poverty alleviation and economic development \/ Mian Farooq Haq and Bushra Shafiq -- 14. Scaling poverty reduction in indonesia: enhancing the institutional effectiveness of islamic microfinance institutions \/ Tanvir Ahmed Uddin and Muhammad Maaz Rahman -- 15. Micro-takaful in India: a path towards financial inclusion & sustainable development \/ Mohammad Faisal, Asif Akhtar, Asad Rehman and M. 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