In the present financial world, various niche markets play an increasingly important role. One of the fastest-growing niches is, without a doubt, Islamic finance. Indeed, sustainable finance needs constantly evolving innovations, and this book offers valuable insights into Islamic capital structure and Shari’ah equity screening enriching academic discourse. "In recent years, we have witnessed the emergence of a new generation of academics and professionals specializing in various aspects of Islamic finance as knowledge and practice. This has brought about a new dynamism and also further sophistication. This book is one of such contributions, as it develops knowledge which is then transformed into practice whereby practical impact is also achieved. Being an academic book, it provokes readers’ thoughts, offering a critique of the implications of the currently applied Shari’ah screenings methodologies. As a transformative practical piece, by developing an innovative screening ratio, in this book, Dr. Yildirim extends his focus on the risk-sharing based financing hierarchy, covers thoughts and the underlying philosophy, and proposes an Islamic version of a pecking order hierarchy. This framework can be considered the foundation for developing an Islamic capital structure theory. This book will benefit academics, professionals, investors, as well as policymakers working in the Islamic finance industry and would like to explore more." (Professor Dr. Mehmet Asutay, Durham University Business School, UK) "This book offers, for the first time after the inception of Shari’ah screening methodologies, a groundbreaking new stock screening solution that is comprehensible, practical, and foremost entirely derived from the primary sources of Islam (Qur’an and Sunnah). Congratulations to Dr. Ramazan for his outstanding contribution to Islamic finance and capital markets." (Associate Professor Dr. Ahcene Lahsasna) "This excellent book is a must-have for all corporate finance students/researchers interested in the theoretical aspect of capital structure and the religious discussion of Shari’ah equity screening. This book should become a companion to those involved in a quantitative research environment and aim to conduct a comparative analysis; an ideal resource for everyone, from Shari’ah scholars to Islamic finance practitioners and beginners to experts." (Professor Dr. M. Kabir Hassan, University of New Orleans, USA)

Capital Structure and Shari'ah Compliance of non-Financial Firms provides an in-depth examination of the main competing capital structure theories and conducts a comprehensive comparative analysis among firms classified as Shari'ah compliant (SC) and Shari'ah non-compliant (SNC).

In recent years, Islamic business has grown in size and importance in the world financial markets, propelled by government and private wealth in Muslim countries. The UK has fashioned itself as a leading supporter of Islamic finance, evinced in its position as an "emerging global 'hub' for Islamic finance" (Islamic Finance in the UK: Regulation and Challenges (Financial Services Authority, 2007) This work examines how laws and regulations in the UK and abroad are applied to Shari'a products and services. It offers cutting-edge guidance from a leading practitioner: it includes explanation of terms and definitions and looks the legal nature of the Shari'a, in addition to a crucial review of how Islamic financial business is regulated and its practical application within the UK.The report also covers the following key areas:* An introduction to the basics of Islamic law unfamiliar to most UK practitioners - e.g. what is Islamic law, what are the key principles, what are the products on offer* Islamic financial institutions - e.g. different types and requirements* Discussion of the legal nature of the Shari'a - the basis, concepts and context of applying Shari'a law* How is Islamic financial business regulated in the UK - e.g. how does it work with the Financial Services and Markets Act 2000 (this act being fundamental to how the financial services industry is structured and operates), with the Financial Services Authority, how are Islamic mortgages regulated* Best practice guidelines - e.g. key governance principles, Shari'a reviews and audits* International operation - what are the regulatory models, how to incorporate best practice guidelines, oversight of Shari'a supervisory boards* Practical application of Shari'a principles to areas such as guarantees, set-off, assignment of debt* Glossary of terms.

The world’s leading financial thinkers share their insights into the latest developments in credit derivatives In The Credit Derivatives Handbook, some of the world's sharpest financial and legal minds come together to discuss how credit derivatives have evolved from tools restricted to the banking industry into flexible and customizable instruments used by investors of all kinds. You will come away with the knowledge and insight needed to measure and value risk, as well as the ability to put credit derivatives to work. Over fifteen contributors provide in-depth analyses of subjects in their respective areas of expertise, such as: Key products, applications, and typical trades, hedging and credit structuring Pricing of credit default swaps and synthetic CDOs Design of synthetic CDOs Copula models, with illustrative examples Credit derivatives in investment portfolios Opportunities for structuring credit derivatives in accordance with Islamic finance Comprehensive in scope but executed in meticulous detail, The Credit Derivatives Handbook provides a complete, global perspective of what the editors consider “one of the most important financial innovations of recent times.”

The book examines Islamic finance and Sharia compliant structures in the retail and private banking sector; trade and commodity finance; project finance; leasing and property finance; corporate finance; and risk management and concludes with a discussion of challenges the sector faces.