Book description
A comprehensive look at the essentials of Islamic capital markets
Bringing together theoretical and practical aspects of capital
markets, Islamic Capital Markets offers readers a comprehensive
insight into the institutions, instruments, and regulatory framework
that comprise Islamic capital markets. Also exploring ideas about
money, central banking, and economic growth theory and their role in
Islamic capital markets, the book provides students and practitioners
with essential information about the analytical tools of Islamic
capital markets, serves as a guide to investing in Islamic assets, and
examines risk management and the structure of Islamic financial products.
Author and Islamic finance expert Noureddine Krichene examines the
development of leading Islamic capital markets, including Malaysia,
looking at sukuks and stocks in detail and emphasizing valuation,
duration, convexity, immunization, yield curves, forward rates, swaps,
and risks. Analyzing stock markets, stock valuation, price-earnings
ratio, market efficiency hypothesis, and equity premiums, the book
addresses uncertainty in capital markets, portfolio diversification
theory, risk-return trade-off, pricing of assets, cost of capital,
derivatives and their role in hedging and speculation, the principle
of arbitrage and replication, Islamic structured products, the
financing of large projects, and more.
- Emphasizes both theoretical and practical aspects of capital
markets, covering analytical concepts such as the theory of
arbitrage, pricing of assets, capital market pricing model,
Arrow-Debreu state prices, risk-neutral pricing, derivatives
markets, hedging and risk management, and structured products
- Provides students and practitioners of finance with must-have
information about the analytical tools employed in Islamic capital markets
- Examines all the most recent developments in major Islamic capital
markets, including Malaysia
Discussing the advantages of Islamic capital markets and the
prospects for their development, Islamic Capital Markets gives
readers a fundamental grounding in the subject, with an emphasis on
financial theory and real world practice.
DR. NOUREDDINE KRICHENE, PHD, earned a doctorate in economics
from the University of California, Los Angeles. He has taught Islamic
finance at the Global University, INCEIF, in Malaysia, and was an
economist with the International Monetary Fund Economist Program from
1986 to 2009. From 2005 to 2007, he was advisor at the Islamic
Development Bank of Saudi Arabia. His areas of expertise are the
international payments system, macroeconomic policies, finance, and
energy and water economics.
