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Table Of Contents

Introduction
Basic principles of Islamic banking
Evolution of Islamic banking
Foundation of Islamic banking
Sale-based instruments
Murabahah
Salam
Istisna
Lease-based instruments
Partnership-based instruments
Musharakah
Mudarabah
Concluding observations
Table 1. Financing instruments in Islamic banks
Islamic banking for SMEs
Partnership contracts
Joint venture
Diminishing Musharakah
Passive partnership
Instruments with predictable returns
Deferred payment sale
Leasing
Short-term production finance
Long-term production finance
Other instruments
Letters of credit
Guarantee
Unilateral promise
Down payment
Agency agreement
Which transaction type?
When Islamic finance may or may not be the best choice
Prohibited industries
Transaction-type considerations
Other general considerations
Cost
Purpose
Information
Legal and tax requirements
Islamic microfinance: an emerging market niche1
Box 1. Basic Islamic microfinance contracts
Box 2. How do savings work?
Development of the Islamic finance industry
Global expansion
Government regulation
Demand
Government promotion of Islamic microfinance
Indonesia
Pakistan
Banks downscaling and expanding product line
Islamic microfinance: CGAP survey results
Limited outreach
Box 3. A look at the Islamic Republic of Iran
Islamic microfinance by institution type
Table 3. Outreach of Islamic microfinance, by institution type
Focus on Indonesia
Possible challenges to the growth of Islamic microfinance
The question of authenticity
Building capacity
Product diversity
Leveraging Zakat and Islamic funds
Islamic banking for women: a case study
Occupational structure
Figure 11. Malaysia: distribution of male employment by occupation, 2006
Investment habits of women
Need for Islamic banking for women
Women’s economic role
Multitasking
Financial planning
Women as entrepreneurs
Az Zahra privilege ladies banking
Concept and strategy
Products and services offered
❏ Az Zahra Equity Home Financing-i;
❏ Az Zahra Mudarabah Current Account-i;
Az Zahra Equity Home Financing-i
Az Zahra Mudarabah Current Account-i
Az Zahra Mudarabah General Investment Account-i
Az Zahra Hire Purchase-i
Banking for women in other countries
Masrafy Bank, Bahrain
Emirates Islamic Bank, United Arab Emirates
Further opportunities
Islamic finance: what it is and where it is available to SMEs
Basic distinctions between Islamic and conventional banking
Lending contrasted to credit and investment
Murabahah (cost-plus sale)
Key distinctions
Simple Murabahah
Strengths and weaknesses for micro-enterprises and SMEs
Alternative applications of simple Murabahah
Agency Murabahah
Alternative application of agency Murabahah
Murabahah to purchase order
Alternative application of Murabahah to purchase order
Musawamah
Figure 18. Murabahah to purchase order
Alternative applications of Murabahah for working capital
Bai al Inah
Tawarruq
Ijarah – leasing
Ijarah Muntahiyah Bi Tamleek – lease ending in ownership
Figure 23. Ijarah Muntahiyah Bi Tamleek – lease ending in ownership
Sale leaseback
Forward Ijarah – forward lease
Alternative application of forward Ijarah
Bai al Salam – forward sale
Simple Salam
Parallel Salam
Salam against undertaking
Bai al Istisna (construction/manufacturing)
Simple Istisna
Parallel Istisna
Strengths and weaknesses for the micro-enterprise and SME
Musharakah (joint venture/partnership)
Simple Musharakah
Declining balance Musharakah
Alternative application of declining balance Musharakah
Import finance Musharakah
Mudarabah (managed partnership)
Mudarabah deposit
Wakalah
Providers of Islamic financing
Fully fledged Islamic banks
Islamic windows
Limited Islamic product offerings
The Islamic Development Bank Group
Accessing Islamic finance
Considering Islamic finance
Choosing Islamic finance
Step 1: Pre-application
Step 1.1 Pre-application: understanding the company’s financial needs
Step 1.2 Pre-application: determining the right financial instrument
Step 1.3 Pre-application: Finding the right financier and service provider
Step 2: Application
Step 2 Application: Documentation and funding
Application and closing checklist for the micro-enterprise and SME
The role of a sharia adviser
Regulations, tax implications and jurisdictional guidelines
Regulators
Tax implications
Jurisdictional issues
Conclusion
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Islamic_Banking_SME

Islamic_Banking_SME

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Published by Sonny Kistnasamy

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Published by: Sonny Kistnasamy on Jan 23, 2011
Copyright:Attribution Non-commercial

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11/13/2011

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