Index

  • Page reference followed by f indicate an illustrated figure; and page reference followed by t indicate a table
  •  
  • EAD see Exposure at Default (EAD)
  • East Cameron Gas Company 169, 327
  • East Cameron Partners (ECP) 29
  • efficient market hypothesis 46
  • Eglinton, Ken 361
  • Equamax 273
  • equity and commodity prices (price risk) 61
  • equity investment risk 65–6
    • risk perception
  • equity management 53
  • Equity Mark-To-Market Report 296t, 300t
  • Estimates of Worst Case 365
  • European Islamic Investment Bank Plc (EIIB) 73, 201
  • European Union
    • Capital Adequacy Directive 132
  • expected losses (EL) 59
  • expected shortfall 62
  • explanatory research 193
  • explorative approach 194
  • exploratory interviews 202
  • exploratory research 192
  • exposure at default (EAD) 59, 140
  • external fraud 89
  •  
  • gap analysis 61, 110, 365
  • GCC see Gulf Co-operation Council (GCC)
  • (General) Council for Islamic Banks and Financial Institutions (CIBAFI) 34, 35t, 37
  • German State of Saxony Anhalt sukuk 28
  • gharar 20, 62, 112, 114, 115
  • global credit crisis 325–30
  • Global Investment House 167, 168, 327
  • governance risks 53
  • Gulf Co-operation Council (GCC) 18
    • Board Directors Institute 343
  • Gulf Finance House in Bahrain 66
  • Gulf International Bank 104
  •  
  • JP Morgan 46
  •  
  • Kaiser-Meyer-Olkin (KMO) test 209, 271–2, 272t, 289–90, 290t
  • Kaiser's criterion 273
  • Keynes, John Maynard 45, 163
  • KFH 171
  • Khaleeji Commercial Bank 374
  • khiar 369
  • khiyar al-shart option 116
  • know-your-customers (KYC) system 98
  • Kondratief cycles' 156
  • Kruskal-Wallis (K-W) test 208, 222, 253, 340
  • Kuala Lumpur Interbank Offered Rate (KLibor) 66
  • Kuwait Finance House 37, 68, 85, 88, 329
  • Kuwait Souq al-Manakh crisis (1982) 329
  •  
  • Obama, Barack 153
  • OIC see Organisation of Islamic Cooperation (OIC)
  • oil prices (1973) 14
  • open-ended questions 196–7, 199–200, 210
  • operational risk 52, 54, 89–90
    • IFSB principles of 90t
    • in Islamic banks 90–2
    • risk perception
  • Operational Risk Report 296t, 297t
  • Organisation of Islamic Cooperation (OIC)
    • Fiqh Academy Resolution 57
  • originate-and-distribute business approach 29
  • originate-and-hold business model 29
  • originate-to-distribute model 157
  •  
  • qard al-hasan 65
  • qard hassan 24–5, 359
  • Qatar Investment Authority 171
  • Qatar Islamic Bank 68
  • qualitative data analysis 210
  • qualitative method 191, 194, 195
  • quantitative data analysis 207–10
  • quantitative research method 191, 194, 195
  • Quartimax 273
  • Quartimin 273
  • questionnaire, descriptive: data analysis and results 213–51
    • characteristics of respondents 213–17
      • accounting standards used by financial institution 217, 217f
      • activities of financial institution 215–17, 216t
      • geographic distribution of study sample 214, 214t
      • nature of financial institution 215, 216t
      • positions of participants 214–15, 215t
    • evaluating the practice of Islamic banking 246, 247t, 248
    • future of Islamic banking 248–50
    • growth strategies for IFIs 248, 249t, 250t
    • risk perception 217–50
      • additional risk issues facing IFIs 226–9, 227f, 228
      • among different groups 220, 221t
      • capital adequacy for Islamic banks 229–34
      • credit crisis and Islamic banks 234–9
      • Intensity of use of different Islamic financial contracts 222–4, 224t, 226
      • overall risks faced by Islamic banks 217–22, 218t
      • risk issues in Islamic banks 217–39
      • risk levels of Islamic finance contracts 222–9, 223t
      • risk management and mitigation 239–46
      • risk management and reporting 239–42, 240t, 241t
      • risk measurement 242, 243
      • risk mitigation 244–6, 244f, 245, 246
      • risks attached to Islamic finance contracts 225, 226
  • questionnaire, study 393–400
  • questionnaires, survey 195–202
    • advantages of 196
    • disadvantages of 196
    • level and characteristics of measurements 197–8
      • interval/ratio scale 197
      • nominal scale 197
      • ordinal scale 197
    • open-ended v closed questions 196–7
    • response rate 201t
    • sampling 198–202
      • administration and 201–2
      • design and structure 199–200
  •  
  • rab al-mal (principal) 57, 65
  • RAROC see Risk-adjusted Return on Capital (RAROC)
  • rate-of-return risk (profit rate risk) 61, 62–5, 63t, 123, 219
  • real estate sector 15, 18, 56, 59–60, 73, 83, 98, 164, 165, 167, 168, 181, 225, 312, 339
  • regulatory and tax issues 104–5
  • regulatory risk 52, 140, 222
  • reliability of data 205–7
  • re-pricing risk 52
  • reputational risk 6, 52, 96–9, 312, 315, 338, 339, 344
  • research, future 390–1
  • research design 191–3
  • research difficulties and limitations 210–11
  • research hypotheses 185–91
  • research implications and recommendations 386–9
    • consolidation 387
    • diversification 387–8
    • innovation 388
    • liquidity enhancement 388
    • risk management infrastructure, investment in 388
    • Shari'ah-based approach versus Shari'ah compliance 388–9
  • research methodology 191
  • research on risk management in Islamic banks 120–3
  • research questions and objectives 183–5
  • research strategy 193–4
    • deductive theory 193–4
    • explorative approach 194
    • inductive approach 194
  • responsibility for risk 364
  • return on equity (ROE) 122–3
  • riba 20, 59
  • risk
    • classification of 51–4
    • common to both Islamic and conventional banks 54–9
    • definition 44
    • interaction and mutation of 54
  • risk-adjusted return on capital (RAROC) 117
  • risk avoidance techniques 52
  • RiskCalc 59
  • risk culture and governance 48–9
  • risk diversification 110
  • risk exposures 53t
  • risk management
    • conducting 49–50, 50f
    • definition 44–5
    • framework 48–51, 49f
    • history of 45–6
    • systemic importance of 47–8
    • vs risk measurement 48
  • risk management and reporting 239–42, 240t, 241t–2t, 295–300, 363–5
    • frequency of producing capital requirement report 297t
    • frequency of producing classified accounts report 300t
    • frequency of producing country report 299t
    • frequency of producing equity mark-to-market report 300t
    • frequency of producing FX risk report 298t
    • frequency of producing liquidity risk report 299t
    • frequency of producing operational risk report 297t
    • frequency of producing profit rate risk report 298t
  • risk measurement 242, 243t, 50, 301–2, 365–7
  • risk mitigation 244–6, 244f, 245t, 246t, 303–4, 367–70
    • by interview 330–2
    • in Islamic banking 110–12
    • K-W test results for 303t
      • by nature of FI 304t
  • risk obligation 20
  • risk perception 217–50, 254–81
    • in Islamic banking 311–19
    • overall risks 254–63
      • Islamic finance contracts 264–9
      • K-W test results
        • concentration risk 258, 259t
        • corporate governance risk 254, 259t
        • credit risk 260, 260t
        • entire research sample 254, 254t–6t
        • liquidity risk 260–1, 261t
        • nature of FI 269–71, 270t, 272t
        • perceived risk seriousness 269, 270t
        • respondent's position and accounting standards 261, 262t
        • results by nature of FI 261, 262t
        • risk categories in relation to nature of FI 261–3, 263t
        • selected sample data 254, 258t
  • risk management and reporting 295–300, 363–5
  • risk-return trade-off 45, 47
  • risk-sharing assets 175–6
  • Risk Tracker 59
  • risk-transferring techniques 52
  • risk weighted assets (RWAs) 145, 146
  • risk-weighted capital ratio 150
  • risk weightings 117
  • ROE see return on equity (ROE)
  • Rotated Component Matrix 273, 275
  • Royal Bank of Scotland 157
  • Roy's Largest Root 276
  • RWAs see risk weighted assets (RWAs)
  •  
  • Saad Group 2, 29, 103, 104, 106, 169, 327, 342
    • Golden Belt sukuk 169
  • salam (salaam) (forward sale) 24, 30, 58, 121, 345
  • Saudi Arabian Monetary Agency (SAMA) 77
  • securitisation 369
  • securitised debt-based assets 164
  • self-administered questionnaire 195
  • semi-structured interviews 195
  • Shafii school 93–4, 115
  • Shamil Bank of Bahrain 85
  • Shamil Bank of Bahrain v. Beximco Pharmaceuticals Ltd in 2004 106
  • Shari'ah and Islamic derivatives 112–14
  • Shari'ah arbitrage risk 95
  • Shari'ah-compliant engineering 317, 369
  • Shari'ah-non-compliance risk 6, 93–6, 218, 219, 229, 312, 338, 340, 344
    • risk perception
  • Shari'ah scholars, shortfall of 95–6, 97f
  • Sharjah Islamic Bank 81
  • Sharpe's Capital Asset Pricing Model (CAPM) 45–6
  • significance testing 208
  • single-factor models of risk 45
  • SIVs see Special Investment Vehicles (SIVs)
  • snowball sampling method 198–9, 204
  • Solidarity Fund 35t
  • Sorouh PJSC 108
  • Spearman's Rank Correlation Coefficient 208, 224, 225
  • special investment vehicles (SIVs) 164
  • stamp duty 105
  • Standard & Poor's 59
  • Standard Chartered Bank 15
  • standardised approach (SA) 135, 139
  • standardised interviews 202
  • Stiglitz, Joseph 159
  • stop-loss provisions 61
  • stress-testing analysis 50, 61, 110
  • structured products, mutual funds, 15
  • subprime assets 164
  • subprime mortgage 154, 156–7, 359
  • sukuk (sak) 25–30, 176–7, 369, 383
    • asset-backed 81
    • defaults 169–70
    • definition 25
    • East Cameron asset-backed 108, 109t
    • Golden Belt 106
    • ijara sukuk 25–6
    • issuance 2008–2009 164
    • issuance by country 29, 30f
    • lack of liquidity 78–9
    • market developments 26–30, 27f
    • risk management issues in 107–9
    • transparency 109
    • types of 25–6
  • systematic risk 52, 157, 170, 179, 180, 322, 355
  •  
  • UBS 46
  • UK sovereign sukuk 28
  • uncontrollable risk 52
  • Unicorn Investment Bank 374, 375
  • univariate analysis of variance (ANOVA) 209
  • unsystematic risk 52
  • US Financial Crimes Enforcement Network 99
  • US GAAP standards 100
  • US Office of the Comptroller of the Currency 99
  • Usmani, Sheikh Muhammad Taqi 170, 174, 175, 176
  •  
  • Yudhoyono, President Susilo Bambang 172–3, 361
  •  
  • Zawya 340, 342
  • zero-beta model (Black) 124
  • z-scores 122
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