Management of Islamic Finance : Principle, Practice, and Performance

Intro -- Contents -- List of Contributors -- About the Editors -- Introduction -- 1. Introduction -- 2. This Issue -- 3. Future Directions -- References -- Chapter 1: Investigating International Portfolio Diversification Opportunities for the Asian Islamic Stock Market Investors -- 1. Introduction -- 2. Literature Review -- 2.2. International Portfolio Diversification -- 2.3. Time-varying and Time-scale-dependent Correlations -- 2.4. Islamic Stocks and Portfolio Diversification -- 3. Theoretical Underpinnings -- 4. The Applied Methodology -- 4.1. MGARCH and DCC -- 4.2. Maximum Overlap Discrete Wavelet Transformation -- 4.3. CWT and Wavelet Coherence -- 5. Data Analysis and Empirical Results -- 5.1. Descriptive Statistics -- 5.2. Research Question 1: Should the Asian Islamic Stock Market Investors Invest in USA, European, or BRIC Markets to Gain International Portfolio Diversification Benefits? -- 5.3. Research Question 2: Given the Answer from the Previous Research Question, How would the International Portfolio Diversification Strategy Change Given Different Investor Stock Holding Periods (e.g., 2-4 Days, 4-8 Days, 8-16 Days, etc.)? -- 5.4. Robustness and Validation of Results - Application of MODWT -- 5.5. Summary of the Empirical Results -- 6. Conclusion -- References -- Appendix 1. M-GARCH/DCC Applied Tests and Results -- Chapter 2: Islamic Banks' Resilience to Systemic Risks: Myth or Reality-Evidence from Bangladesh -- 1. Introduction -- 2. Theoretical Basis for the Unique Risk Features of Islamic Banks -- 2.1. The Prohibition of Interest and Usury (Riba) -- 2.2. Islamic Financial Arrangements -- 2.3. Restrictions on Money for Money Transactions -- 2.4. Prohibition of Excessive Uncertainty (Gharar) and ­ Speculative Behavior (Maysir) -- 2.5. Prohibition of Shariah Non-Halal (Haram) Transactions.