Islamic Asset Management: An Asset Class on Its Own?

By Natalie Schoon | Go to book overview

INTRODUCTION

Islamic, or Sharia‘a-compliant, asset management has been growing at a rate similar to that of the Islamic financial industry as a whole, with at the time of writing close to 700 funds listed in the major databases with estimated funds under management of around 70 billion US dollars. This book reviews the Islamic asset management industry in more detail, including the types of fund offered and their operational procedures. All procedures and processes as well as the fund descriptions are generic and do not represent any particular fund or asset manager.

Fund management fits naturally within Sharia‘acompliant finance since Islam encourages investment and an increase in wealth for all individuals regardless of whether they are rich or poor. For those individuals with lower levels of wealth, who are less likely to be able to invest directly without losing the opportunity to diversify, the ability to invest in funds typically provides an appropriate alternative investment vehicle.

The first chapter of this book contains an overview of the principles, norms and values underpinning Islamic finance. At the risk of repeating content that appears in the other books in this series, this chapter will be of benefit to those who read this book in isolation, and whose understanding of the principles might be minimal. The differences between the different schools of thought within Islam are outside the scope of this book so the generally accepted norms and values associated with (Islamic) business ethics are

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Islamic Asset Management: An Asset Class on Its Own?
Table of contents

Table of contents

  • Title Page iii
  • Contents v
  • Acknowledgements viii
  • Figures ix
  • Boxes x
  • Tables xi
  • Introduction 1
  • Chapter 1 - Characteristics of Islamic Finance 3
  • Chapter 2 - Contracts and Structures for Islamic Asset Management 19
  • Chapter 3 - The Islamic Asset Management Market Place 49
  • Chapter 4 - Fund Operations 91
  • Chapter 5 - Processing 113
  • Chapter 6 - Sharia‘A Supervisory Board 151
  • Chapter 7 - Case Studies 169
  • Chapter 8 - Summary and Concluding Remarks 195
  • Glossary 203
  • Bibliography 209
  • Index 213
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