Financial Innovation and Engineering in Islamic Finance (Contributions to Management Science) - Softcover

Alamad, Samir

Softcover

ISBN 10: 3319850229 ISBN 13: 9783319850221

Publisher: Springer, 2018

Synopsis

This book provides two important contributions to existing theories in the financial innovation literature. First, it extends the existing literature of innovation orientation to a completely new field and construct that is based on a religious imperative as a framework within which financial innovation is constrained. It explains how an innovation orientation in IFIs can be directed within religious rules, which indicates that innovation orientation in IFIs is a learning philosophy. Second, the book introduces and examines the plasticity of Shariah as a shared boundary object and its dynamic role in managing tension and conflicting values in the financial innovation process. Furthermore, building on the empirical results, the study illustrates the insights that each theoretical lens affords into practices of collaboration and develops a novel analytical framework for understanding religious orientation towards financial innovation. This practical contribution, of the developed framework, could form the basis for a standardised framework for the Islamic finance industry. The book concludes by noting the policy and managerial implications of its findings and provides directions for further research.

About this title

About the Author

Dr. Samir Alamad is a Senior Lecturer in the School of Economics, Finance and Accounting at the University of Coventry (UK), and is a well-established published author. He has made a successful transition to academia after accumulating over 16 years of professional experience in the banking and financial services industry in the UK. Throughout his career, he held senior positions and notably served as the Head of Product Development and Ethical Compliance. Dr. Alamad's expertise lies in the banking and financial services, and he has been recognised as an advisor to government departments, both domestically and internationally, on matters related to social and financial inclusion. Dr Alamad holds a PhD degree from Aston University Business School in Financial Innovation and Engineering. Since 2012, Dr. Alamad has been a trusted advisor to various UK government departments, including HM Treasury, BIS, the Department for Education, and the Bank of England. He has played an instrumentalrole in structuring alternative finance schemes aimed at enhancing financial inclusion and advancing the infrastructure of alternative finance within the UK. Noteworthy examples of his innovative work include the Takaful Alternative Student Finance (TASF) scheme, which has been enacted in the Higher Education Act 2017, and will be offered to students alongside the existing student loans system, as well as his involvement in structuring the alternative central bank liquidity facility for the Bank of England.

From the Back Cover

This book provides two important contributions to existing theories in the financial innovation literature. First, it extends the existing literature of innovation orientation to a completely new field and construct that is based on a religious imperative as a framework within which financial innovation is constrained. It explains how an innovation orientation in IFIs can be directed within religious rules, which indicates that innovation orientation in IFIs is a learning philosophy. Second, the book introduces and examines the plasticity of Shariah as a shared boundary object and its dynamic role in managing tension and conflicting values in the financial innovation process. Furthermore, building on the empirical results, the study illustrates the insights that each theoretical lens affords into practices of collaboration and develops a novel analytical framework for understanding religious orientation towards financial innovation. This practical contribution, of the developed framework, could form the basis for a standardised framework for the Islamic finance industry. The book concludes by noting the policy and managerial implications of its findings and provides directions for further research.

Edition details

• Publisher: Springer
• Publication date: 2018
• Language: English
• ISBN 10: 3319850229
• ISBN 13: 9783319850221
• Binding: Paperback
• Number of pages: 225