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Banking and Financial Systems in the Arab World

Banking and Financial Systems in the Arab World
Author: P. Molyneux
Publisher: Springer
Total Pages: 352
Release: 2016-01-13
Genre: Business & Economics
ISBN: 0230512127

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This book provides state-of-the art analysis of banking and financial systems in the Arab world. The early chapters of the text present an overview of Arab economies linking banking and financial sector trends in the Arab world over the last twenty years. The rest of the text examines in detail the financial systems of the major Arab countries, focusing on banking sector and capital market developments. This text will be the first to provide a rigorous analytical evaluation of banking sector developments in the Arab world.


Financial Access and Stability

Financial Access and Stability
Author: The World Bank
Publisher: World Bank Publications
Total Pages: 370
Release: 2011-09-21
Genre: Business & Economics
ISBN: 0821388568

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The countries of the Middle East and North Africa (MENA) have been recovering from the global financial crisis, but the recent political turmoil has interrupted the pace of credit and output recovery in many countries. The political turmoil in the MENA region reveals deep-seated frustrations and a sense of political, social, and economic exclusion, especially among the youth. The relatively weak growth performance reflects a combination of insufficient reforms and weak reform implementation, including financial sector reforms. The structural weaknesses of financial sectors imply that access to finance may remain restricted even with a full recovery of credit activity. Therefore, the region s countries face an ambitious reform agenda to revert two decades of relatively poor performance of output and employment growth. Financial development should be a central component of the region s growth agenda. This study reviews the region s financial systems, the severity of the limitations on access to finance, and the main factors behind such limitations. It goes on to provide a road map for expanding access and preserving financial stability.


Financial Policies and Capital Markets in Arab Countries

Financial Policies and Capital Markets in Arab Countries
Author: Mr.Saíd El-Naggar
Publisher: International Monetary Fund
Total Pages: 116
Release: 1994-09-15
Genre: Business & Economics
ISBN: 9781557754189

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Recent developments at both the international and national levels - including the globalization of financial markets and the wave of liberalization, deregulation, and privatization- have pushed the issue of financial markets to the forefront of the development agenda. This book, edited by Said El-Naggar, comprises the proceedings of a seminar held in Abu Dhabi in January 1994. It provides a comprehensive analysis of various aspects of capital markets in general and particularly in the Arab countries.


Global Impact of Islamic Financial Systems in the Arab World

Global Impact of Islamic Financial Systems in the Arab World
Author: Dr. Julius B. Bertillo
Publisher:
Total Pages: 22
Release: 2013
Genre:
ISBN:

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This paper aims to highlight the global financial systems in the Arab world specifically on the Islamic finance systems; principles and prohibitions; traditions and practices; and challenges and opportunities in the Arab world. It is globally known that Islamic Finance was embraced by the Muslims in the Arab world for the purpose of lending money as their start-up capital and other personal interest. The general concept of Islamic Finance according to Shariah prohibits the fixed or acceptance of specific interest or fees which is called Riba or usury. This is contrary to the Islamic principles of the Muslims called Haraam or forbidden. This ideology was used by the Islamic banking institutions, financial institutions, and non-profit organizations within the Muslim community. It is presumed that in Islam religion forbids lending out money with an interest rate. In the Islamic rules on transactions (Fiqh al-Muamalat) was created to avoid problems. Therefore, to avoid the prohibition are simply by sharing of profit and loss (Mudharabah), safekeeping (Wadiah), a joint venture (Musharakah), cost plus (Murabahah), and leasing (ljar). In the context of Islamic Financial Systems in the Arab countries is based on the elements of Shariah Law. This means that Shariah Law originates from the teachings of the Qur'ān (sacred text of Islam) by Prophet Muhammad. The Islamic finance is based on Shariah which is often translated to Islamic law. According to Silva (2006) interpreted that Shariah provides guidelines for aspects of Muslim life, including religion, politics, economics, banking, business, and legal philosophy. Hence, this study is based on published research papers but does not include empirical investigation.


The Global Findex Database 2017

The Global Findex Database 2017
Author: Asli Demirguc-Kunt
Publisher: World Bank Publications
Total Pages: 228
Release: 2018-04-19
Genre: Business & Economics
ISBN: 1464812683

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In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.


Financial Markets and Institutions in the Arab Economy

Financial Markets and Institutions in the Arab Economy
Author: Niḍāl Rashīd Ṣabrī
Publisher: Nova Publishers
Total Pages: 192
Release: 2008
Genre: Business & Economics
ISBN: 9781604561371

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This book aims to trace and point out the recent developments occurred in the Arab Economy in the last two decades, including trends toward integration, liberalisation, and globalisation. This book indicates the most recent changes in the Arab Financial Institutions including banks, insurance companies, pension funds and other financial institutions. There is also the discussion of issues in market stability and efficiency in the light of new Arab environment of stock trading. This book is a comprehensive text covering the Arab Financial Sector.


Islamic Financial Markets (RLE Banking & Finance)

Islamic Financial Markets (RLE Banking & Finance)
Author: Rodney Wilson
Publisher: Routledge
Total Pages: 257
Release: 2012-05-31
Genre: Business & Economics
ISBN: 1136297154

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When it was originally published this volume was the first comprehensive survey of the experience of Islamic banking throughout the Muslim world in Turkey, Egypt, Kuwait, Jordan, Sudan, iran, Pakistan and Saudi Arabia. Drawing comparisons between the countries in economic terms, it shows that the success of Islamic banks to a large extent reflects the immediate political environment. The complete Islamization of the financial systems of the more fundamentalist countries of Iran and Pakistan is compared with the divide between conventional interest-based systems and the new Islamic banks in Kuwait, Turkey, Egypt, Sudan and Jordan. Islamic Financial Markets explores both international Islamic finance and the national markets in which Islamic banks operate, raising for the first time the issue of competition in Islamic banking. It also looks to the future, to retail development and wholesale possibilities which seem to be the next step forward in Islamic finance. Setting the subject in historical, religious and economic perspective, the book offers a comprehensive survey of the successful adaptation of an ancient financial system to meet the requirements of modern commerce.


The Emerging Middle East Financial Markets

The Emerging Middle East Financial Markets
Author: Henry T. Azzam
Publisher: AuthorHouse
Total Pages: 158
Release: 2015-08-28
Genre: Business & Economics
ISBN: 150493282X

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The book aims to unravel the potentials of Middle East financial markets, which are spread over a large and wealthy part of the world. These markets are gradually being opened for international investors seeking diversification and rewarding risk adjusted returns. However, opening up to international investors is a necessary but not a sufficient condition to attract institutional money needed to provide depth and professionalism to these markets. Without a cultural shift towards more transparency, better regulations and governance, and the availability of custody, clearance and equity research, up to international best practice, not much institutional money will be forthcoming to the region. Funding sources in the Middle East and North Africa Region are still predominantly channeled through the banking system, with equity and fixed income markets playing a marginal role. While the worlds financial markets show on average a balanced structure of bank assets, stock market capitalization and debt securities, the capital mix in the region is heavily skewed towards bank assets with a share of 58.8%, equities around 34% and debt securities (bonds and Sukuk) 7.2%. Stock markets of the UAE and Qatar have recently been upgraded to emerging market status, which together with Egypt are the only three Arab countries that have selected listed companies featuring in the Morgan Stanley Capital Index for Emerging Markets (MSCI EM). Saudi Arabia has opened its stock market to direct investment by foreign financial institutions in the second half of 2015. The opening of the Saudi stock market is a major positive development for the regions capital markets. The path ahead for MENA finance has become now clearer. The relative weight of commercial banks in the financial system will diminish gradually, and a wider range of financial services will be provided by deeper and increasingly more sophisticated debt and equity capital markets, in line with worldwide trends. Sharia compliant products, such as Sukuk, are expected to continue to grow at double-digit rate to meet the strong demand generated regionally and internationally.