UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance

Archive for May 19, 2012

Reference Paper on I’aadat al Shira’a (Repo Alternative) and Collateralization (Structuring Possibilities) (IIFM)



IIFM Reference Paper on I’aadat Al Shira’a

Guide to the Dow Jones Islamic Index



International Islamic Financial Market (IIFM)

International Islamic Financial Market

IIFM is the international Islamic financial market’s organization focused on the Islamic Capital & Money Market (ICMM) segment of the Islamic Financial Services Industry (IFSI). Its primary focus lies in the standardization of Islamic financial products, documentation and related processes at the global level.

IIFM Standards

IIFM Events

IIFM Presentations

Ratings: Lessons Learnt and the Road Ahead (IIRA)


By: Nasir Ali Merchant

Click to access 201001_IFN_Report%20pdf.pdf

Ratings- Lessons Learnt and the Road Ahead

Pulse of the OIC Capital Markets (IIRA)

Islamic International Rating Agency Report

Click to access 201009_Pulse%20of%20OIC.pdf

Liquidity Assessment of Islamic Banks (IIRA)


Islamic International Rating Agency Report

Click to access 200906_Liquidity_rs.pdf

Liquidity Assessment of Islamic Banks

SubPrime Mortgages Speech by CEO of IIRA



The Islamic International Rating Agency (IIRA) is the sole rating agency established to provide capital markets and the banking sector in predominantly Islamic countries with a rating spectrum that encompasses the full array of capital instruments and specialty Islamic financial products, and to enhance the level of analytical expertise in those markets.

IIRA’s augmented rating system recognizes and incorporates the unique features of Islamic finance in a way that broadens the quality perspective, which is a rating agency’s ultimate goal. This will facilitate to develop and deepen the capital markets in countries which IIRA wishes to serve.

IIRA is also soliciting recognition of its ratings by regulators and has received formal recognition from Central Bank of Bahrain as an External Credit Assessment Institution (ECAI). IIRA is also on the list of approved rating agencies of Islamic Development Bank.



By Jamal Abbas Zaidi, CEO Islamic International Rating Agency

Click to access speech_20090415_Subprime_Mortgages.pdf

Subprime Mortgages

Recommended Reading on Business Ethics in Islam

[Extract from Preface of Islam and Business Ethics by Dr S M Hasanuzzaman, published by the Institute of Islamic Banking and Insurance, London, UK 2003]

There is nothing to discover with regard to business ethics in Islam. The edifice of the entire Islamic way of life rests on absolute ethical values. One cannot be a true Muslim unless one adheres to these values. Justice and equity, honesty, integrity, veracity, leniency, compassion, tolerance, selflessness, benevolence, cooperation, mutual consideration, sacrifice and harmlessness, are the guiding values in all walks of life, business being no exception. Muslims are ordered truly to observe these values in whatever position they are: whether employer or employee, landlord or peasant, trader or customer, ruler or ruled, officer or subordinate, transporter or passenger, depositor or fiduciary, relatives or strangers, neighbours or fellow-workers, nobody is allowed to disregard these values at any time. To recognise these values as binding is a concomitant of true faith; to neglect them in practical life means a serious lapse these values are laid down and emphasised in the Qur’an and reinforced in the sayings of the Prophet Muhammad (may peace be upon him).

UAE Laws and Islamic Finance

Laws of the UAE and Islamic Finance