Islamic Cost of Capital by Jilal Alvi - Revision history

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== Top 20 FREQUENT WORDS ==
islamic 18
rate 12
development 10
return 10
financial 8
iifm 7
alternative 6
areas 6
profit 6
shari 6
approach 5
calculation 5
distribution 5
libor 5
liquidity 5
management 5
priority 5
benchmark 4
equity 4
focus 4
framework 4
issues 4
trading 4
units 4

== DOCUMENT KEY POINTS ==
*conventional present market focus high priority development areas cost of capital of ifsi libor as a reference rate alternatives to libor
*islamic cost of capital ijlal alvi ceo iifm contents current state analysis of islamic capital markets vs

* iifm s principal objective is to establish develop and promote the islamic capital and money market on the principles of shari ah iifm s role is that of a developer and catalyst of the islamic financial market encompassing both the short term money market and the long term capital market iifmvision mission vision active and well regulated trading and capital flows across the full spectrum of shari a compliant financial instruments internationally mission to achieve the vision by catalyzing both national and international trading infrastructure product innovation and information flow within strong transparent and well regulated standards and guidelines
*iifm the iifm is an international infrastructure nonprofit organization established through the collective efforts of five countries and one multilateral institution bahrain brunei indonesia malaysia sudan and islamic development bank

*iifm a areas of immediate focus standardization of market related issues such as contracts and products guidelines and procedures relating to primary and secondary market international islamic trading and liquidity management system covering aspects such as trading infrastructure clearing and settlement research and development and specialized events and forums to disseminate information and create awareness on islamic capital and short term financial market development of templates for capital market segment of the islamic financial services industry current state analysis of islamic capital markets vs
*conventional developed but not accepted under development negotiable acceptances commodity futures equity commercial paper financial futures emerging non existent bonds preferred stocks floating rate bonds primes scores warrants securitized loans synthetics index linked securities swaps convertibles options

*liquidity management issues under developed or non existent islamic money market lack of adequate shari a complaint money market instruments risk management techniques availability of quality assets lender of last resort llr privileges for day today liquidity management
*present market focus product innovation sukuks and new structures islamic asset backed mortgage backed securities islamic funds a mutual and specific islamic real estate and reits hedge techniques and derivatives high priority development areas i

*standardization standardization of products contracts and related issues need to identified and developed perhaps on a self regulatory basis development of guidelines and templates regulatory framework enforceability up to regulators

*an alternative to liborabbas mirakhor approach proposes that cost of capital can be measured without resort to a fixed and predetermined interest rate the benchmark could be created based on tobin q theory main assumption a c in the absence of a fixed and predetermined rate of interest equity financing becomes the only source of financial capital and as such the economy s financial system becomes equity based and hence the equity market would provide a measure of the cost of capital an alternative to liborsheikh taqi usmani approach a benchmark can be achieved by creating a common pool which invests in asset backed instruments like musharakah ijarah etc
* if majority assets are in tangible form its units can be sold and purchased on the basis of their net asset value determined on periodical basis these units may be negotiable and maybe used for overnight financing the banks having surplus liquidity can purchase these units and when they need liquidity they can sell them this arrangement may create inter bank market and the value of the units may serve as an indicator for determining the profit

*an alternative to libormalaysian approach example mudarabah inter bank investments mii the rate of return is based on the rate of gross profit before distribution for investments of one year of the investee bank the profit sharing ratio is negotiable among both parties the investor bank at the time of negotiation would not know what the return would be as the actual return will be crystallized towards the end of the investment period the principal invested shall be repaid at the end of the period together with a share of the profit arising from the used funds by the investee bank phone no fax email iifm bateclo dot com
*box manama kingdom of bahrain

''Please note, This is an auto generated summary based on sentances position in the document and other factors''
== DOCUMENT WORD ANALYSIS ==
=== Main Category ===
: AlHuda Material\sukuk islamic

=== KeyWords ===
sukuk islam asset finance issu certifi financi contract bankable bond ijarah leas structur profit holder rate developed purchase risk investor

== RELATED DOCUMENTS ==
:[[Airline Sukuk by Robert Fugard.pdf.txt]]
:[[Case Studies on Sukuk by Muhammad Haris.pdf.txt]]
:[[Challenges of Islamic Financial Market by Jalil Alvi.pdf.txt]]
:[[Challenges to Making Sukuk Sharia Compalience by Dr. M. Anas.pdf.txt]]
:[[Currency Exchange.pdf.txt]]
:[[Global Standard for Sukuk Ijlal Alvi.pdf.txt]]
:[[Islamic Banking and the Housing Industry Abdel Karim Halabi,.pdf.txt]]
:[[Islamic Cost of Capital by Jilal Alvi.pdf.txt]]
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:[[Islamic Liquidity Management Alternatives by Ali Ahmed Sidd.pdf.txt]]
:[[Islamic Money Market & Importance of Liquid Sukuk by Humayon.pdf.txt]]
:[[Islamic Mortgages in the US by AbuBakar Thomson.pdf.txt]]
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:[[Nakhel Sukuk by Qadeer Latif.pdf.txt]]
:[[New Sukuk Products - A Case for Microfinance Sector by Salma.pdf.txt]]
:[[Overview of Sukuk by Puzant Merdinian, SJ Berwin LLP.pdf.txt]]
:[[Overview of the Sukuk market by Professor Rodney Wilson.pdf.txt]]
:[[Present Trends and future propectus of Sukuk.pdf.txt]]
:[[Re-engineering of Structural & issuance procedures of Sukuk.pdf.txt]]
:[[REITs by Mian Mohammed Nazir.pdf.txt]]
:[[Securitiazation.pdf.txt]]
:[[Securitization by Muhammad Imran Usmani.pdf.txt]]
:[[Shariah Guidlins for Sukuk by Fazan.pdf.txt]]
:[[Structure of Islamic REITs by Dr. Muhammad Mahmud awan.pdf.txt]]
:[[Structuring and investing in Sukuk by Prof. Rodney Wilson.pdf.txt]]
:[[Structuring and investing in Sukuk.pdf.txt]]
:[[Sukuk - A case study microfinance sector by Salman Syed Ali.pdf.txt]]
:[[Sukuk for Real Estate.pdf.txt]]
:[[Sukuk al Istisna Case Study.pdf.txt]]
:[[Sukuk and its type.pdf.txt]]
:[[Sukuk by Mr. Hamad Rasool.pdf.txt]]
:[[Sukuk Issuance - Sharia prespectives by Muhammad Talha.pdf.txt]]
:[[Sukuk Regulation by Mr. Sibghatullah Ahsan.pdf.txt]]
:[[Sukuk structure by Hamad Hassan.pdf.txt]]
:[[Sukuk, Securitization by Mr. Muhammad Ayub.pdf.txt]]

== DOCUMENT REFERENCES ==

=== Number of Pages ===
9

=== Published Date ===
2006-12-03 17:46:32

== Full Document ==

[http://45.40.136.134/~hodhood/HodHoodDocuments/IslamicFinance/SukukIslamic/Islamic%20Cost%20of%20Capital%20by%20Jilal%20Alvi.pdf Read the Full Document]

[[Category:Islamic Finance]]

[[Category: Sukuk Islamic]]

@@ Line 31: / Line 31: @@
 == DOCUMENT KEY POINTS ==
 *conventional � present market focus � high priority development areas � cost of capital of ifsi � libor as a reference rate � alternatives to libor
 *islamic cost of capital ijlal alvi ceo iifm contents � current state analysis of islamic capital markets vs
 *� iifm s principal objective is to establish develop and promote the islamic capital and money market on the principles of shari ah � iifm s role is that of a developer and catalyst of the islamic financial market encompassing both the short term money market and the long term capital market iifmvision mission � vision active and well regulated trading and capital flows across the full spectrum of shari a compliant financial instruments internationally � mission to achieve the vision by catalyzing both national and international trading infrastructure product innovation and information flow within strong transparent and well regulated standards and guidelines
 *iifm � the iifm is an international infrastructure nonprofit organization established through the collective efforts of five countries and one multilateral institution bahrain brunei indonesia malaysia sudan and islamic development bank
 *iifm a areas of immediate focus � standardization of market related issues such as contracts and products � guidelines and procedures relating to primary and secondary market � international islamic trading and liquidity management system covering aspects such as trading infrastructure clearing and settlement � research and development and specialized events and forums to disseminate information and create awareness on islamic capital and short term financial market � development of templates for capital market segment of the islamic financial services industry current state analysis of islamic capital markets vs
 *conventional developed but not accepted under development negotiable acceptances commodity futures equity commercial paper financial futures emerging non existent bonds preferred stocks floating rate bonds primes scores warrants securitized loans synthetics index linked securities swaps convertibles options
 *liquidity management issues � under developed or non existent islamic money market � lack of adequate shari a complaint money market instruments � risk management techniques � availability of quality assets � lender of last resort llr privileges for day today liquidity management
 *present market focus product innovation � sukuks and new structures � islamic asset backed mortgage backed securities � islamic funds a mutual and specific � islamic real estate and reits � hedge techniques and derivatives high priority development areas i
 *standardization � standardization of products contracts and related issues need to identified and developed perhaps on a self regulatory basis � development of guidelines and templates � regulatory framework enforceability up to regulators
 *an alternative to liborabbas mirakhor approach � proposes that cost of capital can be measured without resort to a fixed and predetermined interest rate � the benchmark could be created based on tobin q theory � main assumption a c in the absence of a fixed and predetermined rate of interest equity financing becomes the only source of financial capital and as such the economy s financial system becomes equity based and hence the equity market would provide a measure of the cost of capital an alternative to liborsheikh taqi usmani approach � a benchmark can be achieved by creating a common pool which invests in asset backed instruments like musharakah ijarah etc
 *� if majority assets are in tangible form its units can be sold and purchased on the basis of their net asset value determined on periodical basis � these units may be negotiable and maybe used for overnight financing � the banks having surplus liquidity can purchase these units and when they need liquidity they can sell them � this arrangement may create inter bank market and the value of the units may serve as an indicator for determining the profit
 *an alternative to libormalaysian approach example mudarabah inter bank investments mii � the rate of return is based on the rate of gross profit before distribution for investments of one year of the investee bank � the profit sharing ratio is negotiable among both parties � the investor bank at the time of negotiation would not know what the return would be as the actual return will be crystallized towards the end of the investment period � the principal invested shall be repaid at the end of the period together with a share of the profit arising from the used funds by the investee bank phone no fax email iifm bateclo dot com
 *box manama kingdom of bahrain
@@ Line 121: / Line 121: @@
-[http://45.40.136.134/~hodhood/HodHoodDocuments/IslamicFinance/SukukIslamic/Islamic%20Cost%20of%20Capital%20by%20Jilal%20Alvi.pdf Read the Full Document]
+[https://www.hodhood.com/en/HodHoodDocuments/IslamicFinance/SukukIslamic/Islamic%20Cost%20of%20Capital%20by%20Jilal%20Alvi.pdf Read the Full Document]

@@ Line 64: / Line 64: @@
 == RELATED DOCUMENTS ==
-:[[Airline Sukuk by Robert Fugard.pdf.txt]]
+:[[Airline Sukuk by Robert Fugard]]
-:[[Case Studies on Sukuk by Muhammad Haris.pdf.txt]]
+:[[Case Studies on Sukuk by Muhammad Haris]]
-:[[Challenges of Islamic Financial Market by Jalil Alvi.pdf.txt]]
+:[[Challenges of Islamic Financial Market by Jalil Alvi]]
-:[[Challenges to Making Sukuk Sharia Compalience by Dr. M. Anas.pdf.txt]]
+:[[Challenges to Making Sukuk Sharia Compalience by Dr. M. Anas]]
-:[[Currency Exchange.pdf.txt]]
+:[[Currency Exchange]]
-:[[Global Standard for Sukuk Ijlal Alvi.pdf.txt]]
+:[[Global Standard for Sukuk Ijlal Alvi]]
-:[[Islamic Banking and the Housing Industry Abdel Karim Halabi,.pdf.txt]]
+:[[Islamic Banking and the Housing Industry Abdel Karim Halabi,]]
-:[[Islamic Cost of Capital by Jilal Alvi.pdf.txt]]
+:[[Islamic Cost of Capital by Jilal Alvi]]
-:[[Islamic Features of a Sukuk by MIR Takaful Investment.pdf.txt]]
+:[[Islamic Features of a Sukuk by MIR Takaful Investment]]
-:[[Islamic Finance Sukuk by Dr. Eltegani Abdel Gadir Ahmed.pdf.txt]]
+:[[Islamic Finance Sukuk by Dr. Eltegani Abdel Gadir Ahmed]]
-:[[Islamic Finance sukuk, Shariah by Lovells.pdf.txt]]
+:[[Islamic Finance sukuk, Shariah by Lovells]]
-:[[Islamic Interbank Market & Sukuk by Masood Ajazi.pdf.txt]]
+:[[Islamic Interbank Market & Sukuk by Masood Ajazi]]
-:[[Islamic Liquidity Management  Alternatives by Ali Ahmed Sidd.pdf.txt]]
+:[[Islamic Liquidity Management  Alternatives by Ali Ahmed Sidd]]
-:[[Islamic Money Market & Importance of Liquid Sukuk by Humayon.pdf.txt]]
+:[[Islamic Money Market & Importance of Liquid Sukuk by Humayon]]
-:[[Islamic Mortgages in the US by AbuBakar Thomson.pdf.txt]]
+:[[Islamic Mortgages in the US by AbuBakar Thomson]]
-:[[Islamic Sukuk by Muhammad Faisal Shaikh.pdf.txt]]
+:[[Islamic Sukuk by Muhammad Faisal Shaikh]]
-:[[Istisna Ijarah Sukuk Structure.pdf.txt]]
+:[[Istisna Ijarah Sukuk Structure]]
-:[[Managing  Financial Risk of Sukuk by Ali Arsalan Tariq.pdf.txt]]
+:[[Managing  Financial Risk of Sukuk by Ali Arsalan Tariq]]
-:[[Nakhel Sukuk by Qadeer Latif.pdf.txt]]
+:[[Nakhel Sukuk by Qadeer Latif]]
-:[[New Sukuk Products - A Case for Microfinance Sector by Salma.pdf.txt]]
+:[[New Sukuk Products - A Case for Microfinance Sector by Salma]]
-:[[Overview of Sukuk by Puzant Merdinian, SJ Berwin LLP.pdf.txt]]
+:[[Overview of Sukuk by Puzant Merdinian, SJ Berwin LLP]]
-:[[Overview of the Sukuk market by Professor Rodney Wilson.pdf.txt]]
+:[[Overview of the Sukuk market by Professor Rodney Wilson]]
-:[[Present Trends and future propectus of Sukuk.pdf.txt]]
+:[[Present Trends and future propectus of Sukuk]]
-:[[Re-engineering of Structural & issuance procedures of Sukuk.pdf.txt]]
+:[[Re-engineering of Structural & issuance procedures of Sukuk]]
-:[[REITs by Mian Mohammed Nazir.pdf.txt]]
+:[[REITs by Mian Mohammed Nazir]]
-:[[Securitiazation.pdf.txt]]
+:[[Securitiazation]]
-:[[Securitization by Muhammad Imran Usmani.pdf.txt]]
+:[[Securitization by Muhammad Imran Usmani]]
-:[[Shariah Guidlins for Sukuk by Fazan.pdf.txt]]
+:[[Shariah Guidlins for Sukuk by Fazan]]
-:[[Structure of Islamic REITs by Dr. Muhammad Mahmud awan.pdf.txt]]
+:[[Structure of Islamic REITs by Dr. Muhammad Mahmud awan]]
-:[[Structuring and investing in Sukuk by Prof. Rodney Wilson.pdf.txt]]
+:[[Structuring and investing in Sukuk by Prof. Rodney Wilson]]
-:[[Structuring and investing in Sukuk.pdf.txt]]
+:[[Structuring and investing in Sukuk]]
-:[[Sukuk - A case study microfinance sector by Salman Syed Ali.pdf.txt]]
+:[[Sukuk - A case study microfinance sector by Salman Syed Ali]]
-:[[Sukuk  for Real Estate.pdf.txt]]
+:[[Sukuk  for Real Estate]]
-:[[Sukuk al Istisna Case Study.pdf.txt]]
+:[[Sukuk al Istisna Case Study]]
-:[[Sukuk and its type.pdf.txt]]
+:[[Sukuk and its type]]
-:[[Sukuk by Mr. Hamad Rasool.pdf.txt]]
+:[[Sukuk by Mr. Hamad Rasool]]
-:[[Sukuk Issuance - Sharia prespectives by Muhammad Talha.pdf.txt]]
+:[[Sukuk Issuance - Sharia prespectives by Muhammad Talha]]
-:[[Sukuk Regulation by Mr. Sibghatullah Ahsan.pdf.txt]]
+:[[Sukuk Regulation by Mr. Sibghatullah Ahsan]]
-:[[Sukuk structure by Hamad Hassan.pdf.txt]]
+:[[Sukuk structure by Hamad Hassan]]
-:[[Sukuk, Securitization by Mr. Muhammad Ayub.pdf.txt]]
+:[[Sukuk, Securitization by Mr. Muhammad Ayub]]