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Risk Management of Financial Instruments in Islamic Banks: An Overview

Yıl 2019, Cilt: 5 Sayı: 1, 20 - 39, 31.03.2019
https://doi.org/10.25272/ijisef.419518

Öz

Risk management plays a major role in the
success and survival of various financial institutions around the world.
Islamic Financial institutions not being the exception, on the contrary, given
the authenticity of their modus operandi and the nature of their financial
products, are obliged to use more credible and rigorous risk management
systems. A thorough review of the Islamic economy literature based on books,
research articles, monographs and reports, was conducted to prepare this study.
The main objective is to define and explain the risk management tools (Urboun,
Hamish al- Jiddiyah, Khiyarat, Rahn, etc.) used by Islamic financial
institutions in financing instruments (Mourabaha, Ijarah, Salam, etc.), in
order to unveil their nature and specificity. Which enabled the creation of a
summary   table presenting the Risk
management tools, the products in which they are used and the risks for which
they are used.

Kaynakça

  • Aazam. A, 1976, « Nadariyat al-aqd wa al-kafala », p. 4
  • Abo ghidda. A, 1985, « Al-khyar and its effect on contracts », p. 43
  • Abu Daoud. S, 2009 « Sunan Abu Dawood », 1st edition, Vol. 5, p. 361 Hadith N° 3502Al-‘Ali. S, 2008, « Theory of contract », p. 398,
  • Al- Nawawi. Y, « Al-Majmu' Sharh Al-Muhadhdhab », Dar al-fikr, Vol. 9, pp. 193-194, p. 225, p. 335
  • Al-Baihaqi. A,2003, « Sonan Al-Baihaqi », Dar al-Kutub al-‘Ilmiyyah,Vol. 6, pp. 56-57, Hadith N°11180
  • Al-Baji.S, 1913 « Al-Montaqa Charh Mouatae Imam Dar Al-hijra Malek Abn Anass », Vol. 4, pp. 157-158
  • Al-Balkhi. N, 2000, « Al-Fatawa Al-Hindiyyah », Vol. 3, p. 8
  • Al-Bukhari.M, 2001, « Sahih al-Bukhari », Vol. 4, p. 41, Hadith N°2916
  • Al-Charbini. K. M, 1868 , « Al-Siraj Al-Monir », Vol. 2, p. 125
  • Al-Dasouqi. M. A, « Hachiat Al-Dasouqi », Vol. 3, p. 96
  • Al-Fayuomi. A, 1987, « Al-Misbah Al-Monir », Lebanon library, p. 167
  • Al-Hamiri. N. B, 1999, « Chamsso Al-‘oloum », Dar Al-Fikr, Vol. 3, p. 729
  • Al-Hassoun. A, 2002, « Khiyar al-Ghabn in netting agreements », Journal of Arabic Studies, Vol. 2, N° 7, p. 5
  • Al-Jaziri. A, 2003, « Al-Fiqh ‘Ala Al-Mazahib Al-arba’a », House of scientific books, Vol. 2, p. 154
  • Al-Kassani. A, 2003, « Badai’ Al-Sanai’ Fi Tartib Al-Chari’ », House of scientific books, Vol. 5, p. 130, pp. 173-174, Vol. 7, pp. 395-396
  • Al-Khatabi. A, 1932, « Ma’alim Al-Sunan », Vol. 3, p. 119
  • Al-Marghinani. A, 1997, « Al-Bidayah », Vol. 3, p. 23
  • Al-Mbarkafori. M. A, « Tuhfat Al-Aahodhi », Vol. 4, pp. 401-402, Hadith N° 1265
  • Al-Othaimin. M, 2002, « Al-Charh Al-Momti’ ‘ala Zad al-Mostaqni’ », Vol 8 p310
  • Al-Qaliyubi, 2003, « Hachiata Qaliyubi wa ‘Omaira », Vol. 2, pp. 190-191
  • Al-Qortobi. M, « Al-Jami’ Li-Ahkam Al-Quoran ‘ », 1964, dar Al-kotob al-missria, Vol. 2, p. 355, Vol. 5, pp. 150-151, Vol. 11, p. 307
  • Al-Ramly. S, 1984, « Nihayat al-Muhtaj », Dar Al-Fikr, Vol. 4, pp. 4-6
  • Al-Razzi. M, 1975, « Mokhtar al-Sihah », Dar al-kitab al-‘Arabi, p. 209, p. 226
  • Al-Sakhaoui.M. S, 1985, « Al-Maqassid Al-Hassanah », pp. 631-632, Hadith N° 1081
  • Al-Sanhori. A, 1998, « Masadir Al-Haq Fi Al-Fiqh Al-Islmai », Vol. 4, pp. 160-162
  • Al-Tirmidhi, 1996, « Jami` at-Tirmidhi », Vol 2 p 544 Hadith N°1265
  • Al-Zohaili. W, 1985, « Al-fiqh Al-Islami wa adilatoh », Dar al-fikr, Vol 4 pp 221-224, p524, pp 529-533,
  • Archer.S,Rifaat.A.A, 2013, « Islamic Finance: The Regulatory Challenge », John Wiley & Sons, pp. 109-110, p. 96, pp. 107-108
  • Ayub.M, 2007, « Understanding Islamic Finance », John Wiley & Sons, p. 116,
  • Bank Negara Malaysia, 2014, « Ijarah”, Islamic Banking and Takaful Department », pp. 23-24
  • Bank Negara Malaysia, 2015, « Rahn (Shariah Requirements and Optional Practices) Exposure Draft », Islamic banking and takaful department, p. 5
  • Chabir. M.O,1993, «Khiyar al-Naqd wa Tatbiqatoh fi Mo’amalat Al-massarif al-Islamia », PP 223-224
  • Daoud. A, 2011, «The provisions of the contract in Islamic jurisprudence and civil law», p532
  • Dubai Islamic bank, Journal of Islamic economy, N°362, p. 31
  • EL TIBY.M, 2011, « Islamic Banking: How to Manage Risk and Improve Profitability », John Wiley & Sons, p 127, p191
  • Faleel. J, 2012, « Islamic Finance for Dummies », John Wiley & Sons
  • Habib. A, Khan. T, 2007, « Risk Management in Islamic Banking », Edward Elgar Publishing, p. 146
  • Ibn ‘Abidin. M. A, 2003 « Radu al-Muhtar ala al-Dur al-Mukhtar », House of Book’s World, Vol. 7, p. 109, pp. 117-119, p. 363
  • Ibn Hanbal. A, « Mosnad Imam Ahmad », Vol. 11, p. 332, Hadith N° 6723
  • Ibn Hijr.A, « Fath Al-bari »,1st edition, Dar Al-Kotob Al-Salafia, Vol. 5, p. 91, pp 567-571
  • Ibn Humam. K, 2003, « Fath Al-qadir », Dar al-Kutub al-‘Ilmiyyah, Vol. 6, pp. 309-311
  • Ibn Jozaii. M, « Al-Qawanin Al-Fiqhya », p. 180
  • Ibn Kathir. I, 1999, « Tafsir ibn Kathir », Dar Taiba, Vol. 1, p. 727
  • Ibn Majah. M.B, « Sunan Ibn Majah, Dar Ihiae Al-Kotob Al-‘arabia, Vol. 2, p. 755, Hadith N°2246
  • Ibn Malik. A, 2004, « Al-Muwatta’ », Vol. 4, p. 879, Hadith N°541/2557, p. 985, Hadith N°580/2517
  • Ibn Mandour. M, « Lissan Al-‘Arab », Dar Sadir, Vol. 13, pp. 144-145 & pp. 309-310 & Vol. 7, p. 192
  • Ibn Nujaym. O, 2002, « Al-Nahr al-Fa’iq Sharh Kanz al-Daqaiq », Dar al-Kutub al-‘Ilmiyyah, Vol. 3, p. 380
  • Ibn Qaim Al-jawzia, « Badai’ Al-Fawaid », International Islamic Fiqh Academy, p. 1443
  • Ibn Qaim Al-jawzia, 1991, « I’lam al-Mouqi’een ‘An Rabb al-‘Alamen », Dar al-Kutub al-‘Ilmiyyah, Vol. 2, pp. 19-20
  • Ibn Qodama. A, 1993, « Al-Charh Al-Kabir ‘Ala Matni Al-Moqni’ », Dar al-kitab al-‘arabi, Vol. 4, p. 59
  • Ibn Qodama. M. A, 1997, « Al-Moghni », Dar ‘Alam al-Kotob, Vol 6 p 38
  • Ibn Rochd. M. A, 1994, « Bidâyat ul-mudjtahid wa nihâyat ul-Muqtasid », Vol 3 pp 400-401 / p337
  • Iqbal. Z, Mirakhor. A, 2011, « An Introduction to Islamic Finance-Theory and Practice » Second Edition, John Wiley & Sons, pp. 93-94
  • Journal of the Judicial Verdicts, Art 356, p. 52
  • Kamal. A, 2013, « Khiyar al-‘Aib fi al-fiqh al-islami », Journal of Surra Man Raa Vol 9 N°35 p 198
  • Khan. A.M, 2003, « Islamic Economics and Finance: A Glossary » 2nd edition, Routledge, p. 125
  • Kureshi.H, Mukhsia.S.I, Mohsin.H, 2015, « Financial Engineering in Islamic Finance the Way Forward: A Case for Shariah compliant derivatives », partridge,
  • Mar’i. A. A, 1973, « la résiliation des contrats dans la Charia », p. 187
  • Masiukiewicz. P, 2017, « Expansion of Islamic Finance in Europe », Journal of Intercultural Management, Vol. 9, No. 2, pp. 31-51
  • Ministry of Awqaf & Islamic Affairs Kuwait, 1983, « Al-Maouso’a Al-Fiqhia », Vol. 21, p. 57.
  • Murshidi & al, 2013, « Rights of Khiyar (Option) in the Issue of Consumerism in Malaysia », Middle-East Journal of Scientific Research, p .155
  • Najdat. M, 2013, « Kiyar al-Naqd fi al-fiqh al-Islami », Damascus University Journal of Economic and Legal Sciences Vol. 29, p. 405, pp. 394-395
  • Nestorovic. C, 2013, « What is the Future of Islamic Finance? », Islamic Finance News, Vol. 10, Issue 29, p. 14-15
  • Obaidullah. M, 1998, « Financial Engineering with Islamic Options », Islamic Economic Studies, Vol. 6, p. 77
  • Rayner. S. E, 1991, « The Theory of Contracts in Islamic Law, Springer, pp. 327-328
  • Sabiq. S, 1983, « Fiqh Al-Sunna », Al-fath lili’lam al-‘Arabi, Vol. 3, p. 130, p. 167
  • Saniki. Z, « Asna Al-Matalib Fi Charh Rawd Al-Talib », Vol. 2, p. 31
  • Wahyudi.I, Rosmanita.F, Prasetyo.M, Surya Putri.N, 2015, « Risk Management for Islamic Banks Recent Developments from Asia and the Middle East », John Wiley & Sons, p. 131, p. 104, p. 107, pp. 123-124, pp. 117-119
  • Yaakub & al, 2013, « Late payment charge in Islamic bank », The 5th International Conference on Financial Criminology (ICFC), p. 383
  • Yaakub. A, 2014, « A Revisit to the Practice of Late Payment Charges by Islamic Banks in Malaysia », Jurnal Pengurusan 42, p. 187
Yıl 2019, Cilt: 5 Sayı: 1, 20 - 39, 31.03.2019
https://doi.org/10.25272/ijisef.419518

Öz

Kaynakça

  • Aazam. A, 1976, « Nadariyat al-aqd wa al-kafala », p. 4
  • Abo ghidda. A, 1985, « Al-khyar and its effect on contracts », p. 43
  • Abu Daoud. S, 2009 « Sunan Abu Dawood », 1st edition, Vol. 5, p. 361 Hadith N° 3502Al-‘Ali. S, 2008, « Theory of contract », p. 398,
  • Al- Nawawi. Y, « Al-Majmu' Sharh Al-Muhadhdhab », Dar al-fikr, Vol. 9, pp. 193-194, p. 225, p. 335
  • Al-Baihaqi. A,2003, « Sonan Al-Baihaqi », Dar al-Kutub al-‘Ilmiyyah,Vol. 6, pp. 56-57, Hadith N°11180
  • Al-Baji.S, 1913 « Al-Montaqa Charh Mouatae Imam Dar Al-hijra Malek Abn Anass », Vol. 4, pp. 157-158
  • Al-Balkhi. N, 2000, « Al-Fatawa Al-Hindiyyah », Vol. 3, p. 8
  • Al-Bukhari.M, 2001, « Sahih al-Bukhari », Vol. 4, p. 41, Hadith N°2916
  • Al-Charbini. K. M, 1868 , « Al-Siraj Al-Monir », Vol. 2, p. 125
  • Al-Dasouqi. M. A, « Hachiat Al-Dasouqi », Vol. 3, p. 96
  • Al-Fayuomi. A, 1987, « Al-Misbah Al-Monir », Lebanon library, p. 167
  • Al-Hamiri. N. B, 1999, « Chamsso Al-‘oloum », Dar Al-Fikr, Vol. 3, p. 729
  • Al-Hassoun. A, 2002, « Khiyar al-Ghabn in netting agreements », Journal of Arabic Studies, Vol. 2, N° 7, p. 5
  • Al-Jaziri. A, 2003, « Al-Fiqh ‘Ala Al-Mazahib Al-arba’a », House of scientific books, Vol. 2, p. 154
  • Al-Kassani. A, 2003, « Badai’ Al-Sanai’ Fi Tartib Al-Chari’ », House of scientific books, Vol. 5, p. 130, pp. 173-174, Vol. 7, pp. 395-396
  • Al-Khatabi. A, 1932, « Ma’alim Al-Sunan », Vol. 3, p. 119
  • Al-Marghinani. A, 1997, « Al-Bidayah », Vol. 3, p. 23
  • Al-Mbarkafori. M. A, « Tuhfat Al-Aahodhi », Vol. 4, pp. 401-402, Hadith N° 1265
  • Al-Othaimin. M, 2002, « Al-Charh Al-Momti’ ‘ala Zad al-Mostaqni’ », Vol 8 p310
  • Al-Qaliyubi, 2003, « Hachiata Qaliyubi wa ‘Omaira », Vol. 2, pp. 190-191
  • Al-Qortobi. M, « Al-Jami’ Li-Ahkam Al-Quoran ‘ », 1964, dar Al-kotob al-missria, Vol. 2, p. 355, Vol. 5, pp. 150-151, Vol. 11, p. 307
  • Al-Ramly. S, 1984, « Nihayat al-Muhtaj », Dar Al-Fikr, Vol. 4, pp. 4-6
  • Al-Razzi. M, 1975, « Mokhtar al-Sihah », Dar al-kitab al-‘Arabi, p. 209, p. 226
  • Al-Sakhaoui.M. S, 1985, « Al-Maqassid Al-Hassanah », pp. 631-632, Hadith N° 1081
  • Al-Sanhori. A, 1998, « Masadir Al-Haq Fi Al-Fiqh Al-Islmai », Vol. 4, pp. 160-162
  • Al-Tirmidhi, 1996, « Jami` at-Tirmidhi », Vol 2 p 544 Hadith N°1265
  • Al-Zohaili. W, 1985, « Al-fiqh Al-Islami wa adilatoh », Dar al-fikr, Vol 4 pp 221-224, p524, pp 529-533,
  • Archer.S,Rifaat.A.A, 2013, « Islamic Finance: The Regulatory Challenge », John Wiley & Sons, pp. 109-110, p. 96, pp. 107-108
  • Ayub.M, 2007, « Understanding Islamic Finance », John Wiley & Sons, p. 116,
  • Bank Negara Malaysia, 2014, « Ijarah”, Islamic Banking and Takaful Department », pp. 23-24
  • Bank Negara Malaysia, 2015, « Rahn (Shariah Requirements and Optional Practices) Exposure Draft », Islamic banking and takaful department, p. 5
  • Chabir. M.O,1993, «Khiyar al-Naqd wa Tatbiqatoh fi Mo’amalat Al-massarif al-Islamia », PP 223-224
  • Daoud. A, 2011, «The provisions of the contract in Islamic jurisprudence and civil law», p532
  • Dubai Islamic bank, Journal of Islamic economy, N°362, p. 31
  • EL TIBY.M, 2011, « Islamic Banking: How to Manage Risk and Improve Profitability », John Wiley & Sons, p 127, p191
  • Faleel. J, 2012, « Islamic Finance for Dummies », John Wiley & Sons
  • Habib. A, Khan. T, 2007, « Risk Management in Islamic Banking », Edward Elgar Publishing, p. 146
  • Ibn ‘Abidin. M. A, 2003 « Radu al-Muhtar ala al-Dur al-Mukhtar », House of Book’s World, Vol. 7, p. 109, pp. 117-119, p. 363
  • Ibn Hanbal. A, « Mosnad Imam Ahmad », Vol. 11, p. 332, Hadith N° 6723
  • Ibn Hijr.A, « Fath Al-bari »,1st edition, Dar Al-Kotob Al-Salafia, Vol. 5, p. 91, pp 567-571
  • Ibn Humam. K, 2003, « Fath Al-qadir », Dar al-Kutub al-‘Ilmiyyah, Vol. 6, pp. 309-311
  • Ibn Jozaii. M, « Al-Qawanin Al-Fiqhya », p. 180
  • Ibn Kathir. I, 1999, « Tafsir ibn Kathir », Dar Taiba, Vol. 1, p. 727
  • Ibn Majah. M.B, « Sunan Ibn Majah, Dar Ihiae Al-Kotob Al-‘arabia, Vol. 2, p. 755, Hadith N°2246
  • Ibn Malik. A, 2004, « Al-Muwatta’ », Vol. 4, p. 879, Hadith N°541/2557, p. 985, Hadith N°580/2517
  • Ibn Mandour. M, « Lissan Al-‘Arab », Dar Sadir, Vol. 13, pp. 144-145 & pp. 309-310 & Vol. 7, p. 192
  • Ibn Nujaym. O, 2002, « Al-Nahr al-Fa’iq Sharh Kanz al-Daqaiq », Dar al-Kutub al-‘Ilmiyyah, Vol. 3, p. 380
  • Ibn Qaim Al-jawzia, « Badai’ Al-Fawaid », International Islamic Fiqh Academy, p. 1443
  • Ibn Qaim Al-jawzia, 1991, « I’lam al-Mouqi’een ‘An Rabb al-‘Alamen », Dar al-Kutub al-‘Ilmiyyah, Vol. 2, pp. 19-20
  • Ibn Qodama. A, 1993, « Al-Charh Al-Kabir ‘Ala Matni Al-Moqni’ », Dar al-kitab al-‘arabi, Vol. 4, p. 59
  • Ibn Qodama. M. A, 1997, « Al-Moghni », Dar ‘Alam al-Kotob, Vol 6 p 38
  • Ibn Rochd. M. A, 1994, « Bidâyat ul-mudjtahid wa nihâyat ul-Muqtasid », Vol 3 pp 400-401 / p337
  • Iqbal. Z, Mirakhor. A, 2011, « An Introduction to Islamic Finance-Theory and Practice » Second Edition, John Wiley & Sons, pp. 93-94
  • Journal of the Judicial Verdicts, Art 356, p. 52
  • Kamal. A, 2013, « Khiyar al-‘Aib fi al-fiqh al-islami », Journal of Surra Man Raa Vol 9 N°35 p 198
  • Khan. A.M, 2003, « Islamic Economics and Finance: A Glossary » 2nd edition, Routledge, p. 125
  • Kureshi.H, Mukhsia.S.I, Mohsin.H, 2015, « Financial Engineering in Islamic Finance the Way Forward: A Case for Shariah compliant derivatives », partridge,
  • Mar’i. A. A, 1973, « la résiliation des contrats dans la Charia », p. 187
  • Masiukiewicz. P, 2017, « Expansion of Islamic Finance in Europe », Journal of Intercultural Management, Vol. 9, No. 2, pp. 31-51
  • Ministry of Awqaf & Islamic Affairs Kuwait, 1983, « Al-Maouso’a Al-Fiqhia », Vol. 21, p. 57.
  • Murshidi & al, 2013, « Rights of Khiyar (Option) in the Issue of Consumerism in Malaysia », Middle-East Journal of Scientific Research, p .155
  • Najdat. M, 2013, « Kiyar al-Naqd fi al-fiqh al-Islami », Damascus University Journal of Economic and Legal Sciences Vol. 29, p. 405, pp. 394-395
  • Nestorovic. C, 2013, « What is the Future of Islamic Finance? », Islamic Finance News, Vol. 10, Issue 29, p. 14-15
  • Obaidullah. M, 1998, « Financial Engineering with Islamic Options », Islamic Economic Studies, Vol. 6, p. 77
  • Rayner. S. E, 1991, « The Theory of Contracts in Islamic Law, Springer, pp. 327-328
  • Sabiq. S, 1983, « Fiqh Al-Sunna », Al-fath lili’lam al-‘Arabi, Vol. 3, p. 130, p. 167
  • Saniki. Z, « Asna Al-Matalib Fi Charh Rawd Al-Talib », Vol. 2, p. 31
  • Wahyudi.I, Rosmanita.F, Prasetyo.M, Surya Putri.N, 2015, « Risk Management for Islamic Banks Recent Developments from Asia and the Middle East », John Wiley & Sons, p. 131, p. 104, p. 107, pp. 123-124, pp. 117-119
  • Yaakub & al, 2013, « Late payment charge in Islamic bank », The 5th International Conference on Financial Criminology (ICFC), p. 383
  • Yaakub. A, 2014, « A Revisit to the Practice of Late Payment Charges by Islamic Banks in Malaysia », Jurnal Pengurusan 42, p. 187
Toplam 70 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Ekonomi
Bölüm Makaleler
Yazarlar

Abderrahmane Sakouili

Chroqui Razane Bu kişi benim

Yayımlanma Tarihi 31 Mart 2019
Yayımlandığı Sayı Yıl 2019 Cilt: 5 Sayı: 1

Kaynak Göster

APA Sakouili, A., & Razane, C. (2019). Risk Management of Financial Instruments in Islamic Banks: An Overview. International Journal of Islamic Economics and Finance Studies, 5(1), 20-39. https://doi.org/10.25272/ijisef.419518

Cited By

RISK MANAGEMENT IN ISLAMIC BANKS: A RESEARCH ON THE PARTICIPATION BANKS IN TURKEY
Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
https://doi.org/10.30798/makuiibf.913705

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