Tariqullah Khan - Academia.edu (original) (raw)
Papers by Tariqullah Khan
Chapters, 2007
The numbers in parentheses indicate the number of respondents; the scale is 1 to 5, with 1 indica... more The numbers in parentheses indicate the number of respondents; the scale is 1 to 5, with 1 indicating 'not serious' and 5 denoting 'critically serious'.
Social Science Research Network, 2023
Social Science Research Network, 1997
GLOSSARY OF ARABIC TERMS Some of these terms have a much wider meaning. It is, however, not possi... more GLOSSARY OF ARABIC TERMS Some of these terms have a much wider meaning. It is, however, not possible to encompass this in a glossary. Given below is only the sense in which these terms have been used in this paper. Bay' : Stands for sale and has been used here as a prefix in referring to the different sales-based modes of Islamic finance, like murābahah, ijārah, istisnā', and salam (q.v.). Fiqh : Refers to the whole corpus of Islamic jurisprudence. In contrast with conventional law, fiqh covers all aspects of life, religious, political, social or economic. In addition to religious observances like prayer, fasting, zakāt and pilgrimage, it also covers family law, inheritance, social and economic rights and obligations, commercial law, criminal law, constitutional law and international relations, including war. The whole corpus of fiqh is based primarily on interpretations of the Qur'an and the Sunnah and secondarily on ijmā' (consensus) and ijtihād (individual judgement). While the Qur'an and the Sunnah are immutable, fiqhi verdicts may change due to changing circumstances. Fuqahā' (singular, faqīh) : Jurists who give opinion on various juristic issues in the light of the Qur'an and the Sunnah and who have thereby led to the development of fiqh. Gharar : Literally means deception, danger, risk and uncertainty, but stands technically in the fiqh for exposing oneself to excessive risk and danger in a business transaction as a result of uncertainty about the price, the quality and the quantity of the counter-value, the date of delivery, and the ability of either the buyer or the seller to fulfill his or her commitment, thereby causing either of the two parties an undue loss.
Introduction M.Iqbal & T.Khan Fiqhi Issues in Commodity Futures M.H.Kamali, M.A.Zarqa & A... more Introduction M.Iqbal & T.Khan Fiqhi Issues in Commodity Futures M.H.Kamali, M.A.Zarqa & A.N.M.Abu al-Basel Commodity Derivatives: An Islamic Analysis M.A-B.M.al-Amine, M.A.Elgari & Z.I.Kayani Shari Ah Alternatives to Government Bonds A.L.A.R.Janahi Potential Use of Salam Financing in Malaysia S.A.Rosly, H.H.Ismail, H.H.Hassan & A.R.al-Saati Optimal Sharing Contracts S.I.al-Suwailem, N.ul Haque & A.A.Karim
SSRN Electronic Journal
In this paper we view sustainable development as an issue of dynamic equilibrium, where the econo... more In this paper we view sustainable development as an issue of dynamic equilibrium, where the economy, society, and the environment are interconnected components within a single system. In this context, dynamic equilibrium refers to the continuous balance and interaction between these three elements to ensure that the needs of the present are met without compromising the ability of future generations to meet their needs. A system is in dynamic equilibrium when despite the forms of its components changing, the system remains in perpetual balance and resilience. Since solutions based on rooted revival are needed to overcome current challenges, we discuss the Quranic concept of Meezan (cosmic balance) which includes dynamic equilibrium of natural laws, society, and ecology. We discuss the transgression of the natural balance by human beings through various instruments including financial services. We explain the regenerative and circular conditions of dynamic equilibrium and suggest some fundamental changes in the design of Islamic financial contracts, institutions, and policies. Dynamic equilibrium requires reliance on renewable resources, non-interference in the functioning of natural laws that determine life, natural capital and biocapacity of earth. The businesses and financial services play a pivotal role in ensuring the state of dynamic equilibrium of the economy. We present a new approach to the design of financial contracts, and roles of financial institution and regulation. Our paper makes a reference to the GCC countries, but its approach and conclusions are of general relevance.
Occasional Papers, Oct 24, 2019
The paper discusses a number of risk management issues of the Islamic financial industry. It outl... more The paper discusses a number of risk management issues of the Islamic financial industry. It outlines the risk management processes and techniques that enable financial institutions to control undesirable risks and to take benefit of the business opportunities created by the desirable ones.
SSRN Electronic Journal, 2000
Abstract: This study argues that diverse approaches are needed to minimize financial exclusion in... more Abstract: This study argues that diverse approaches are needed to minimize financial exclusion in Islamic Development Bank (IDB) member countries. It recommends that MFIs must consider the cultural and religious sensitivities of Muslim societies while attempting to build inclusive financial systems. The paper: Analyzes poverty levels in IDB member countries; Examines the Islamic approach to poverty alleviation through microfinance; Emphasizes the need for a dual approach: charity programs for the destitute, disabled and ...
Handbook of Islamic Banking, 2007
On the basis of the principles established in Shari'ah, financial services impact both risk manag... more On the basis of the principles established in Shari'ah, financial services impact both risk management and the financial system supervision. In the context of Islamic financial institutions around the globe, proficient risk management has increasingly gained importance in their attempts to adapt to the challenges and issues brought about by globalization. In this study, the researcher aimed to provide an insight into the major challenges faced by Islamic banks in their quest for development in the current global financial system. It also attempted to determine specific and general risks faced by banks in general and in their institutionalization. Moreover, this paper also stressed on the development and enhancement of current financial tools and organizational planning that facilitate sufficient and effective operational environment for Islamic financial institutions.
International Journal of Theoretical and Applied Finance, 2002
This paper models a default-free convertible facility to finance infrastructure projects in emerg... more This paper models a default-free convertible facility to finance infrastructure projects in emerging Muslim countries. The mortgage is designed as a combination of an Islamic credit facility (allowing the collateralization of debt by the assets of the firm as espoused in Scott[32], Stulz and Johnson[36]) and inclusion of real warrants (as espoused in Green[12], Haugen and Senbet[15]) to mitigate the agency cost of debt discussed in Myers[27]. Numerical simulation is employed to endogenously solve for the rate of return, tenure and fractional ownership to be conveyed to financier upon conversion of the facility without resorting to any interest based (ribawi) index. Finally, sensitivity analysis is conducted to study the impact of exogenous variables and to reconcile with the existing mainstream finance literature such as Barclay and Smith[3], Stohs and Mauer [35] and Guedes and Opler [13].
An academic directory and search engine.
Loughborough University, Loughborough, PhD dissertation (unpublished), 1997
An academic directory and search engine.
IRTI Research Paper No, 1992
Financing involves the channelling of resources from wealth holders to deficit producing or consu... more Financing involves the channelling of resources from wealth holders to deficit producing or consuming units ('). As such, financing enables deficit units to command a larger quantity of resources than they can command by internal means. In conventional economics, financing fora producing deficit unit may take the form of interest-based borrowing, offering stocks and shares (equities) and obtaining credit in the form of deferred payment against the purchase of goods and services. A deficit consumer, on the other hand, may acquire financing in the ...
An academic directory and search engine.
The Islamic law prohibits charging and paying of interest but allows earning profits on the basis... more The Islamic law prohibits charging and paying of interest but allows earning profits on the basis of participation in the market. This legal injunction has motivated the establishment and successful operation of a number of Islamic financial institutions. The emergence and rise of these institutions is an important academic and practical development of our time. The theory of Islamic finance evolved on the basis of profit and loss sharing (PLS) principle underlying participatory Islamic financial contracts. However, the practice of Islamic ...
Handbook of Islamic Banking, 2007
10 Risk management in Islamic banking Habib Ahmed and Tariqullah Khan Introduction Risk entails b... more 10 Risk management in Islamic banking Habib Ahmed and Tariqullah Khan Introduction Risk entails both vulnerability of asset values and opportunities of income growth. Successful firms take advantage of these opportunities (Damodaran, 2005). An impor-tant element of ...
Chapters, 2007
The numbers in parentheses indicate the number of respondents; the scale is 1 to 5, with 1 indica... more The numbers in parentheses indicate the number of respondents; the scale is 1 to 5, with 1 indicating 'not serious' and 5 denoting 'critically serious'.
Social Science Research Network, 2023
Social Science Research Network, 1997
GLOSSARY OF ARABIC TERMS Some of these terms have a much wider meaning. It is, however, not possi... more GLOSSARY OF ARABIC TERMS Some of these terms have a much wider meaning. It is, however, not possible to encompass this in a glossary. Given below is only the sense in which these terms have been used in this paper. Bay' : Stands for sale and has been used here as a prefix in referring to the different sales-based modes of Islamic finance, like murābahah, ijārah, istisnā', and salam (q.v.). Fiqh : Refers to the whole corpus of Islamic jurisprudence. In contrast with conventional law, fiqh covers all aspects of life, religious, political, social or economic. In addition to religious observances like prayer, fasting, zakāt and pilgrimage, it also covers family law, inheritance, social and economic rights and obligations, commercial law, criminal law, constitutional law and international relations, including war. The whole corpus of fiqh is based primarily on interpretations of the Qur'an and the Sunnah and secondarily on ijmā' (consensus) and ijtihād (individual judgement). While the Qur'an and the Sunnah are immutable, fiqhi verdicts may change due to changing circumstances. Fuqahā' (singular, faqīh) : Jurists who give opinion on various juristic issues in the light of the Qur'an and the Sunnah and who have thereby led to the development of fiqh. Gharar : Literally means deception, danger, risk and uncertainty, but stands technically in the fiqh for exposing oneself to excessive risk and danger in a business transaction as a result of uncertainty about the price, the quality and the quantity of the counter-value, the date of delivery, and the ability of either the buyer or the seller to fulfill his or her commitment, thereby causing either of the two parties an undue loss.
Introduction M.Iqbal & T.Khan Fiqhi Issues in Commodity Futures M.H.Kamali, M.A.Zarqa & A... more Introduction M.Iqbal & T.Khan Fiqhi Issues in Commodity Futures M.H.Kamali, M.A.Zarqa & A.N.M.Abu al-Basel Commodity Derivatives: An Islamic Analysis M.A-B.M.al-Amine, M.A.Elgari & Z.I.Kayani Shari Ah Alternatives to Government Bonds A.L.A.R.Janahi Potential Use of Salam Financing in Malaysia S.A.Rosly, H.H.Ismail, H.H.Hassan & A.R.al-Saati Optimal Sharing Contracts S.I.al-Suwailem, N.ul Haque & A.A.Karim
SSRN Electronic Journal
In this paper we view sustainable development as an issue of dynamic equilibrium, where the econo... more In this paper we view sustainable development as an issue of dynamic equilibrium, where the economy, society, and the environment are interconnected components within a single system. In this context, dynamic equilibrium refers to the continuous balance and interaction between these three elements to ensure that the needs of the present are met without compromising the ability of future generations to meet their needs. A system is in dynamic equilibrium when despite the forms of its components changing, the system remains in perpetual balance and resilience. Since solutions based on rooted revival are needed to overcome current challenges, we discuss the Quranic concept of Meezan (cosmic balance) which includes dynamic equilibrium of natural laws, society, and ecology. We discuss the transgression of the natural balance by human beings through various instruments including financial services. We explain the regenerative and circular conditions of dynamic equilibrium and suggest some fundamental changes in the design of Islamic financial contracts, institutions, and policies. Dynamic equilibrium requires reliance on renewable resources, non-interference in the functioning of natural laws that determine life, natural capital and biocapacity of earth. The businesses and financial services play a pivotal role in ensuring the state of dynamic equilibrium of the economy. We present a new approach to the design of financial contracts, and roles of financial institution and regulation. Our paper makes a reference to the GCC countries, but its approach and conclusions are of general relevance.
Occasional Papers, Oct 24, 2019
The paper discusses a number of risk management issues of the Islamic financial industry. It outl... more The paper discusses a number of risk management issues of the Islamic financial industry. It outlines the risk management processes and techniques that enable financial institutions to control undesirable risks and to take benefit of the business opportunities created by the desirable ones.
SSRN Electronic Journal, 2000
Abstract: This study argues that diverse approaches are needed to minimize financial exclusion in... more Abstract: This study argues that diverse approaches are needed to minimize financial exclusion in Islamic Development Bank (IDB) member countries. It recommends that MFIs must consider the cultural and religious sensitivities of Muslim societies while attempting to build inclusive financial systems. The paper: Analyzes poverty levels in IDB member countries; Examines the Islamic approach to poverty alleviation through microfinance; Emphasizes the need for a dual approach: charity programs for the destitute, disabled and ...
Handbook of Islamic Banking, 2007
On the basis of the principles established in Shari'ah, financial services impact both risk manag... more On the basis of the principles established in Shari'ah, financial services impact both risk management and the financial system supervision. In the context of Islamic financial institutions around the globe, proficient risk management has increasingly gained importance in their attempts to adapt to the challenges and issues brought about by globalization. In this study, the researcher aimed to provide an insight into the major challenges faced by Islamic banks in their quest for development in the current global financial system. It also attempted to determine specific and general risks faced by banks in general and in their institutionalization. Moreover, this paper also stressed on the development and enhancement of current financial tools and organizational planning that facilitate sufficient and effective operational environment for Islamic financial institutions.
International Journal of Theoretical and Applied Finance, 2002
This paper models a default-free convertible facility to finance infrastructure projects in emerg... more This paper models a default-free convertible facility to finance infrastructure projects in emerging Muslim countries. The mortgage is designed as a combination of an Islamic credit facility (allowing the collateralization of debt by the assets of the firm as espoused in Scott[32], Stulz and Johnson[36]) and inclusion of real warrants (as espoused in Green[12], Haugen and Senbet[15]) to mitigate the agency cost of debt discussed in Myers[27]. Numerical simulation is employed to endogenously solve for the rate of return, tenure and fractional ownership to be conveyed to financier upon conversion of the facility without resorting to any interest based (ribawi) index. Finally, sensitivity analysis is conducted to study the impact of exogenous variables and to reconcile with the existing mainstream finance literature such as Barclay and Smith[3], Stohs and Mauer [35] and Guedes and Opler [13].
An academic directory and search engine.
Loughborough University, Loughborough, PhD dissertation (unpublished), 1997
An academic directory and search engine.
IRTI Research Paper No, 1992
Financing involves the channelling of resources from wealth holders to deficit producing or consu... more Financing involves the channelling of resources from wealth holders to deficit producing or consuming units ('). As such, financing enables deficit units to command a larger quantity of resources than they can command by internal means. In conventional economics, financing fora producing deficit unit may take the form of interest-based borrowing, offering stocks and shares (equities) and obtaining credit in the form of deferred payment against the purchase of goods and services. A deficit consumer, on the other hand, may acquire financing in the ...
An academic directory and search engine.
The Islamic law prohibits charging and paying of interest but allows earning profits on the basis... more The Islamic law prohibits charging and paying of interest but allows earning profits on the basis of participation in the market. This legal injunction has motivated the establishment and successful operation of a number of Islamic financial institutions. The emergence and rise of these institutions is an important academic and practical development of our time. The theory of Islamic finance evolved on the basis of profit and loss sharing (PLS) principle underlying participatory Islamic financial contracts. However, the practice of Islamic ...
Handbook of Islamic Banking, 2007
10 Risk management in Islamic banking Habib Ahmed and Tariqullah Khan Introduction Risk entails b... more 10 Risk management in Islamic banking Habib Ahmed and Tariqullah Khan Introduction Risk entails both vulnerability of asset values and opportunities of income growth. Successful firms take advantage of these opportunities (Damodaran, 2005). An impor-tant element of ...
13th Gulf Research Meeting (GRM) 2023, 2023
Gulf Cooperation Council (GCC) countries are embarking upon green economic transformation and div... more Gulf Cooperation Council (GCC) countries are embarking upon green economic transformation and diversification of their economies. These countries are rich in foreign exchange reserves, but their economies need to develop new and renewable resources to overcome the ultimate depletion of their oil and gas reserves and the uncertainties associated with the green energy transition. In this green economic transformation and diversification process they need a new future-fit economic paradigm that can reconcile economic diversification and development with environmental sustainability -both of which have become an integral part of the national visions of all GCC countries. In this paper, we suggested a One Earth development framework in which high human and economic development is targeted within the planetary capacity of Earth. We explored the role of circular economy (CE) as a relevant paradigm. The GCC economies have seen unprecedented financial affluence, urbanization, infrastructural development, and improvements in the standard of living over the past 40 decades. This transformation has coupled with technological progress, new styles of consumption and living. The historical development has taken place within the linear economy framework which generates waste causing resource inefficiency and environmental hazards. Although data is not available, it is clear from general observation and studies that in several sectors the application of CE will facilitate resource efficiency, economic diversification, as well as sustainable and regenerative development. Policy and regulatory support for CE industrial symbioses for the GCC region can facilitate and strengthen such a transformation and diversification process.