Kuala Lumpur, 26 May 2015
ISRA and SC Launch Joint Publication on “Islamic Capital Markets: Principles and Practices”

The International Shari’ah Research Academy for Islamic Finance (ISRA) and the Securities Commission Malaysia (SC) today launched a joint publication on “Islamic Capital Markets: Principles and Practices.”

The Islamic capital market textbook was launched by the SC Deputy Chief Executive Dato Dr. Nik Ramlah Mahmood at the IFN Asia Forum in Kuala Lumpur on 26 May 2015. Khazanah Nasional Berhad is a co-sponsor of this initiative.

The Islamic capital market has evolved substantially over the past three decades and it has expanded in terms of diversity of stakeholders, infrastructure, products and services, capabilities as well as its geographical reach. The launch of the textbook is timely in view of the expanding role of the Islamic capital market across the globe. It serves as a vital source of reference to academicians, students and practitioners on the key principles underlying the Islamic capital market operations and its practices.

According to the SC, the impressive growth in Islamic finance globally has created a strong demand for Islamic finance professionals, including those trained in the Islamic capital market, to help develop and drive the industry forward. As the market gears up for further growth, it is imperative that the industry participants, members of the academia and regulators pool their resources to ensure a sustainable supply of qualified and skilled talent.

As the co-publisher and co-sponsor of the textbook, the SC is confident that the textbook will foster the continued growth of the industry and enhance the skills of the Islamic capital market talent pool.

ISRA, being an instrumental institution in promoting applied Shari’ah research in the field of Islamic finance, believes that the publication of this new textbook culminates another milestone in fulfilling crucial information and knowledge needs of the academia, industry, regulators and other stakeholders after the success of its previous textbook, “Islamic Financial System: Principles and Operations”.

The textbook“Islamic Capital Markets: Principles and Practices”offers in-depth body of knowledge on Islamic capital markets. The textbook articulately and critically presents the theories and concepts of Islamic capital markets without losing sight of their practical aspects. Written by prominent scholars, academics and industry experts, the textbook features contemporary issues facing the Islamic finance industry, using various case studies to show how theory interacts with practice.

It effectively covers a variety of essential topics related to Islamic capital markets, including Shari’ah, regulatory and corporate governance frameworks, risk management, accounting and taxation, sukuk, the equity market, unit trust funds, ETFs, REITs, private equity and venture capital, derivatives and structured products.

The reader will find that exceptional due diligence has been given to ensure that the information in the textbook is comprehensive, precise, reliable and up to date. The discussions are not confined to any specific jurisdiction; rather, they adopt an analytical approach towards the relevant issues across different countries. Each chapter contains relevant case studies and supporting charts, diagrams, tables and figures in order to facilitate comprehension. Moreover, multiple choice questions and discussion questions are also provided at the end of each chapter to challenge the understanding of the reader.

(From left) The International Shari’ah Research Academy for Islamic Finance (ISRA) Chief Executive Officer Prof. Mohamad Akram Laldin, Securities Commission Malaysia (SC) Deputy Chief Executive Dato Dr. Nik Ramlah Mahmood, and Khazanah Nasional Berhad Chief Financial Officer Mohd Izani Ghani at the launch of “Islamic Capital Markets: Principles and Practices” at the IFN Asia Forum 2015, Kuala Lumpur.
Securities Commission Malaysia (SC) Deputy Chief Executive Dato Dr. Nik Ramlah Mahmood delivering the keynote address on “Facilitating Innovation in the Islamic Capital Market” at the IFN Asia Forum 2015, Kuala Lumpur