伊斯兰金融税制模式简介

本文在介绍伊斯兰金融、3种伊斯兰金融税制模式的基础上,分析了伊斯兰金融税制与传统金融税制的差异,并提出了我国今后在伊斯兰金融税收政策设计时的一些建议。     

伊斯兰金融的未来

回顾伊斯兰金融的发展历程,从1963年成立首家伊斯兰银行,到2007年伊斯兰金融资产达到3000亿美元,伊斯兰金融发展迅速。文章通过实例剖析了伊斯兰债券与资产支持证券的异同,并从伊斯兰债券的金融本质入手,从宏观的角度展开对伊斯兰金融的未来前景的探讨,指出伊斯兰金融是传统伊斯兰融资体系适应全球化经济下的一种新模式探索,并期待着伊斯兰现代主义能够更好地促进伊斯兰金融的发展和成熟,使伊斯兰社会更好地融合到全球化的经济发展中。     

丝绸之路经济带与甘肃发展伊斯兰金融的研究

文章总结介绍了伊斯兰金融的基本思想、发展的主要特征、现状,分析了甘肃有发展伊斯兰金融的地理文化优势、有发展伊斯兰金融的经验和发展伊斯兰金融的市场,最后结合丝绸之路经济带建设提出甘肃省应通过在普通银行设立伊斯兰金融业务窗口、引入境外战略投资者等方式循序渐进地发展伊斯兰金融。     

伊斯兰金融体系形成的市场基础与金融特性研究

伊斯兰金融作为一种特殊的金融形式,有其产生和存在的宗教基础、政治基础和经济基础.目前,伊斯兰金融在全球呈现了差异化的发展趋势.伊斯兰银行类金融产品、伊斯兰债券、伊斯兰基金、伊斯兰保险等各类伊斯兰金融工具各具特色.     

伊斯兰金融产品与传统金融产品的比较

本文旨在介绍金融知识,使读者对伊斯兰金融业有一概括了解,包括伊斯兰金融体系和金融体系原则以及基于这些原则形成的金融产品。     

伊斯兰金融的发展及其对我国的思考与借鉴

伊斯兰金融这一宗教特色的金融形式,从产生到现在,,逐步得到了快速的发展,体现出了旺盛的生命力。在金融危机席卷全球的背景下,特别引起世界关注,真是可圈可点。本文主要对伊斯兰金融的起源、基本原则、发展历程、显著特点以及伊斯兰金融的银行类金融工具进行了详细的分析考察;分析了伊斯兰金融的发展给我国的思考和启示,提出了伊斯兰银行发展对中国的借鉴和伊斯兰银行进驻我国的政策建议。     

探讨伊斯兰银行的特点

伊斯兰金融作为世界两大金融体系之一,在金融危机中显示出其安全、稳定的优势,引起世界的关注。伊斯兰银行作为伊斯兰金融的主体,以伊斯兰教教义及其文化为指导思想、以现代伊斯兰金融理论为理论基础、以"风险共担、利润共享"为经营原则、坚持以实物资产为基础、禁止投机行为等,保证了其在经营及金融交易过程中的安全性和稳定性。     

关于伊斯兰金融发展的理论初探

伊斯兰金融是现代金融体系的有效补充,了解伊斯兰金融对于中国推进"一带一路"倡议大有裨益。相较于世界伊斯兰金融的蓬勃发展,中国伊斯兰金融的发展处于起步阶段,面临着法制、人才、基础设施等多方面挑战,中国应坚持发展具有中国特色的伊斯兰金融,加快法制建设和人才培养,并建立与伊斯兰金融体系相适应的监管体系,积极参与世界伊斯兰金融治理体系。     

伊斯兰金融及其新疆引进方案探讨

由美国次级抵押贷款引发的世界金融危机,使西方无数银行破产,但伊斯兰金融并没有受到重大影响,因此整个世界纷纷向结构稳定的伊斯兰金融体系伸出橄榄枝。新疆是全国唯一的维吾尔自治区,有得天独厚的人文环境和资源优势,很容易实现与伊斯兰国家的文化沟通和经济金融的交流合作,新疆引进伊斯兰金融业务,对新疆地区经济社会跨越式发展有重大意义。本文阐述了伊斯兰金融的基本特征和新疆引进伊斯兰金融业务的可行方案。     

伊斯兰金融及其新疆引进方案探讨

由美国次级抵押贷款引发的世界金融危机,使西方无数银行破产,但伊斯兰金融并没有受到重大影响,因此整个世界纷纷向结构稳定的伊斯兰金融体系伸出橄榄枝。新疆是全国唯一的维吾尔自治区,有得天独厚的人文环境和资源优势,很容易实现与伊斯兰国家的文化沟通和经济金融的交流合作,新疆引进伊斯兰金融业务,对新疆地区经济社会跨越式发展有重大意义。本文阐述了伊斯兰金融的基本特征和新疆引进伊斯兰金融业务的可行方案。     

Islamic finance development and banking ESG scores: Evidence from a cross-country analysis

An extensive body of literature on CSR examined its effects on several business dimensions. However, little attention has been paid on the relationship between the growing role played by Islamic finance, its connection with sustainability and the drivers of such relationship.Based on a sample of 224 banks from sixteen emerging and advanced countries in the period 2014–2017, this paper assesses whether and to what extent the development of Islamic financial markets relates to banks’ sustainability strategies. We propose a novel perspective that includes the new Islamic Finance Development Indicator (IFDI), its components and how it relates to aggregate and individual ESG scores.Our results show a positive relationship between IFDI and ESG scores that mostly revolves around the social pillar. This finding strengthens the generally acknowledged link between Islamic finance and sensitivity to social implications, despite gains in sustainability are subject to non-linearity.     

On the volatility spillover between lslamic and conventional stock markets: A quantile regression analysis

This paper aims at analyzing the degree and structure of interdependencies in terms of volatility (transmission, contagion) between Islamic and conventional stock markets on calm periods and at times of financial fragility and crisis. We focused on the recent financial instability periods and used the Quantile Regression-based GARCH model. Main results lead to very interesting conclusions. First, it has been found that Islamic stock markets are not totally immune to the global financial crisis. Second, a very strong interdependence is sensed from the conventional to the Islamic stock markets, especially, from the conventional developed markets to the Islamic Emerging and Arab markets and to the Islamic developed markets. Finally, it has been proved that the interdependencies from conventional to Islamic markets are propagated between Islamic markets. Our findings suggest that the Islamic finance industry does not seem able to provide cushion against economic and financial shocks that affect conventional markets.     

A Comparative Literature Survey of Islamic Finance and Banking

There has been large-scale growth in Islamic finance and banking in Muslim countries and around the world during the last twenty years. This growth is influenced by factors including the introduction of broad macroeconomic and structural reforms in financial systems, the liberalization of capital movements, privatization, the global integration of financial markets, and the introduction of innovative and new Islamic products. Islamic finance is now reaching new levels of sophistication. However, a complete Islamic financial system with its identifiable instruments and markets is still very much at an early stage of evolution. Many problems and challenges relating to Islamic instruments, financial markets, and regulations must be addressed and resolved. In this paper, we provide a comprehensive comparative review of the literature on the Islamic financial system. Specifically, we discuss the basic features of the Islamic finance and banking. We also introduce Islamic financial instruments in order to compare them to existing Western financial instruments and discuss the legal problems that investors in these instruments may encounter. The paper also gives a preliminary empirical assessment of the performance of Islamic banking and finance, and highlights the regulations, challenges and problems in the Islamic banking market.     

Creation of an Islamic stock index in West Africa

Islamic finance, which has become inescapable has entered into financial markets by offering solutions consistent with the precepts of the Shariah. The objective of this paper is to propose the creation of an Islamic stock index in West Africa. The choice of market values ​​requires extra financial and financial screening system. The results show that 10% of the securities in Nigeria Stock Exchange , the Regional Stock Exchange (Brvm) and the Ghana Stock Exchange (Gse) were selected to form the Islamic index " Ecowas Shariah index.     

Islamic versus conventional banks in the GCC countries: A comparative study using classification techniques

This paper contributes to the empirical literature on Islamic finance by investigating the feature of Islamic and conventional banks in Gulf Cooperation Council (GCC) countries over the period 2003–2010. We use parametric and non-parametric classification models (Linear discriminant analysis, Logistic regression, Tree of classification and Neural network) to examine whether financial ratios can be used to distinguish between Islamic and conventional banks. Univariate results show that Islamic banks are, on average, more profitable, more liquid, better capitalized, and have lower credit risk than conventional banks. We also find that Islamic banks are, on average, less involved in off-balance sheet activities and have more operating leverage than their conventional peers. Results from classification models show that the two types of banks may be differentiated in terms of credit and insolvency risk, operating leverage and off-balance sheet activities, but not in terms of profitability and liquidity. More interestingly, we find that the recent global financial crisis has a negative impact on the profitability for both Islamic and conventional banks, but time shifted. Finally, results show that Logit regression obtained slightly higher classification accuracies than other models.     

Financial inclusion,financial inclusion policy and Islamic finance

Using a qualitative analysis, the paper examines the links between financial inclusion and the Islamic financial services industry in Muslim countries. The findings show that, despite growth in the financial sector in many Muslim countries over the past few decades, many individuals and firms are still financially excluded. An analysis of the use of and access to financial services by adults and firms also shows that most Muslim countries lag behind other emerging economies in both respects, with a rate of financial inclusion of only 27%. Cost, distance, documentation, trust, and religious requirements are among the important obstacles. In addition, not surprisingly, the extent of Islamic microfinance is very limited, small by international standards; it accounts for a small proportion of microfinance, about 0.5% of global microfinance, and lacks a cost-efficient service model. This study suggests that Islamic instruments for redistributing income such as awqaf, qard-al-hassan, sadaqa, and zakah, can play a role in bringing more than 40 million people, who are financially excluded for religious reasons, into the formal financial system. The Islamic financial services industry has a long way to go in improving financial inclusion in many Muslim countries due to the scale needed and its relatively weak infrastructure.     

Impact of the global financial crisis on Islamic and conventional stocks and bonds

This study explores the impact of the global financial crisis (GFC) on Islamic and conventional stock and bond indices in 11 Islamic and eight non‐Islamic countries. We find that there are benefits of Islamic stocks during the GFC, particularly during the early stage of the crisis because Islamic institutions are prohibited from holding sub‐prime mortgage securities and derivatives. The strongest benefits of Islamic stocks are in the UK and USA. We conclude that there are benefits of risk reduction and stability for Islamic stocks during a financial crisis, although not necessarily during a global recession.     

Social reporting by islamic banks

The last thirty years have witnessed the appearance and rapid expansion of Islamic banking both inside and outside the Islamic world. Islamic banks provide financial products that do not violate Sharia , the Islamic law of human conduct. The Islamic principles upon which the banks claim to operate give an important role to social issues. Applying these principles, we develop a benchmark set of social disclosures appropriate to Islamic banks. These are then compared, using a disclosure index approach, the actual social disclosures contained in the annual reports of twenty-nine Islamic banks (located in sixteen countries) to this benchmark. In addition, content analysis is undertaken to measure the volume of social disclosures. Our analysis suggests that social reporting by Islamic banks falls significantly short of our expectations. The results of the analysis also suggest that banks required to pay the Islamic religious tax Zakah provide more social disclosures than banks not subject to Zakah .