1) Islamic funds have a large global investment universe of over 2,400 stocks worth $18 trillion. They have demonstrated higher returns than conventional indexes.
2) Islamic funds are not just for Muslims. Many non-Muslim investors in Malaysia, the US, and Europe invest in Islamic funds for their ethical screening processes and risk management benefits.
3) Management fees for Islamic funds on the UCITS platform are comparable to conventional funds, ranging from 1.5-2.25%. This indicates Islamic funds can provide similar investment opportunities without additional costs.
Sharia Stock Screening: A Fund Manager's ConundrumCognizant
Islamic investing, based on Sharia compliance, is a huge and growing field, but automated screening is problematic, with gray areas involving lines of business and computing relative debt ratios. This paper examines how third-part Sharia compliance assessment could compensate for shortfalls in the Islamic indices.
Sharia Stock Screening: A Fund Manager's ConundrumCognizant
Islamic investing, based on Sharia compliance, is a huge and growing field, but automated screening is problematic, with gray areas involving lines of business and computing relative debt ratios. This paper examines how third-part Sharia compliance assessment could compensate for shortfalls in the Islamic indices.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
This slide provides details about cyber security as following;
what is cyber security or computer security?
why cyber security is important?
what is cyber crime?
cyber security problems,
how to prevent from cyber crime?
global scenario of cyber crime?
organisation in world for cyber security,
top companies in cyber security,
career choice in cyber security,
scope of cyber security.
Larry Alder, director of access strategy for Google, outlines 'What's Next in Internet Access' at the 2016 Global Entrepreneurship Congress in Medellin, Colombia.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
International Journal of Humanities and Social Science Invention (IJHSSI) is an international journal intended for professionals and researchers in all fields of Humanities and Social Science. IJHSSI publishes research articles and reviews within the whole field Humanities and Social Science, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
This slide provides details about cyber security as following;
what is cyber security or computer security?
why cyber security is important?
what is cyber crime?
cyber security problems,
how to prevent from cyber crime?
global scenario of cyber crime?
organisation in world for cyber security,
top companies in cyber security,
career choice in cyber security,
scope of cyber security.
Larry Alder, director of access strategy for Google, outlines 'What's Next in Internet Access' at the 2016 Global Entrepreneurship Congress in Medellin, Colombia.
Ann Low, deputy director of the Office of Investment Affairs at the U.S. State Department, on the Global Enterprise Registration portal at the Global Entrepreneurship Congress in Medellin, Colombia.
Consumer demand for personalized experiences makes information the most valuable currency. Data is a hot topic - and for good reason. Gus Murray, our Chief Strategy and Insights Officer will talk through the fundamentals of how to approach data driven marketing, how any organization can use data to improve results, uncover insights, promote customer loyalty, and be used in the creative process.
High regulatory costs for small and mid sized banksHEXANIKA
Anecdotal evidence from bankers suggests that the cost of complying usually increases with new rules and regulations when large statutory changes are made to financial laws and rules of any country or region[1]. This burden increases significantly when such changes are made especially after a financial crisis. New regulations stemming from the financial crisis has cost the six largest U.S. banks $70.2 billion as of the end of last year[2]. Between the end of 2007 and the end of 2015, regulatory fines rose by more than 100% – or $35.5 billion- according to data from policy-analysis firm Federal Financial Analytics Inc. As per Federal Financial Analytics, the reporting costs come from a mix of requirements that are specific to these banks, e.g. particular capital surcharges that apply to banks with assets over $50 billion but impose the largest cost on the six biggest banks due to their size or risk
This presentation include the brief history of Mutual funds in Pakistan, its present worth, future trends and prospects, Hopefully will help the interested students.
Islamic finance has moved from being just another buzzword in last decade to an extremely popular and viable alternative in today’s interconnected financial world. Islamic asset management has been at the forefront of revolution along with Islamic Banking.
Financing the Microfinanciers, How MFIs are sourcing capital -- joint BlueOrc...svmn
Microfinance investment landscape and vehicles. Ann Miles of BlueOrchard Finance, USA and Maya Chorengel of Elevar Equity (Unitus Equity Fund) presented this material jointly in a discussion with Silicon Valley Microfinance Network (SVMN), moderated by Sean Foote -- March 19, 2009.
An investment project in a virtual trading platform with the most realistic simulations available for real-time, streaming platforms that feature global equities, bonds, options, futures, commodities and more.
The project involved being a financial advisor for an investor with a total portfolio value of USD 1 million.
This project report highlights the performance and strategies used to ensure a successful and profitable Investment for the portfolio.
The trading period started on 22nd January, 2013 and ended on 12th April, 2013.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
2. SHARI’AH INVESTING IS FOR
ANYONE
In Malaysia, the CIMB Islamic Commodities Structured Funds 1 and 2
garnered 57 percent non-Muslim investors during its initial offer
period.
In the USA, Saturna Asset Management, a Shari’ah investment
management company based in Bellingham, Washington, disclosed
most of its assets under management for its Amana Global Equity
Fund are from non-Muslim investors.
3. MANAGEMENT FEES
An analysis of the 26 Islamic Funds on the UCITS platform in both
Dublin and Luxembourg shows that management fees chargeable to
these funds range from 150 basis points to 225 basis points, just like
those of conventional funds available on the UCITS platform.
Comparable charges for conventional and Islamic funds.
4. ISLAMIC PRODUCTS ARE NOT
COMPLICATED
Equity screening is done in two stages, business and financial
screening.
1. Business screening ensures that the investments in goods and
services that are prohibited by Shari’ah are excluded.
2. Financial screening further excludes stocks with high debt, high
receivables, and idle cash reserves.
This ensures stability of investments with a moral dimension.
5. ISLAMIC PRODUCTS ARE NOT
COMPLICATED
Screening ensures that the investments are stable and prohibit
excessive risk taking.
Screening also ensures avoidance of high borrowing and exploitation
of contracts.
6. ISLAMIC INVESTMENT UNIVERSE
If one were to construct a global Islamic equity portfolio from
components of the Dow Jones Islamic World Index, one can select
from a broad universe of 2413 components with an impressive
market capitalization value of USD18.35 trillion.
The Dow Jones Islamic Market Asia/Pacific Index has 1,146
components and a substantial market capitalization of USD4.37
trillion.
Similarly, the amount of sukuk outstanding during the first half of
2012 has grown impressively to USD210.8 billion.
Dow Jones Islamic World
Index
2413 Components USD18.35 Trillion Market
Capitalization
Dow Jones Islamic Market
Asia/Pacific Index
1146 Components USD4.37 Trillion Market
Capitalization
7. ISLAMIC INVESTMENT UNIVERSE
Islamic Funds demonstrate a higher return.
December 2008 – 2012
Dow Jones Islamic Market World Index versus the conventional Dow
Jones World Index
The cumulative total return of the Islamic Index demonstrated an
outperformance of 9.91% over the conventional index.
8. ISLAMIC INVESTMENT IS IN HIGH
DEMAND
There is a higher demand today for investment solutions that are
structured with certainty, fairness, ethics, and without speculation.
9. RESPONSIBLE INVESTMENT
The Islamic investment process comes with the structured capability
to manage risk as the screening provides an embedded risk
management overlay at the portfolio level.
This screening, via the application of three financial ratios based on
debt, receivables, and cash, results in a more financially sound pool
of constituents to select from.
10. ISLAMIC INVESTMENT IS ALREADY
WIDELY USED IN THE WEST
Most American, European, Japanese, and Australian pension houses
have provided specific allocation for SRI portfolios and ethical
investment.
It goes beyond a traditional ethical investment approach because an
additional layer of risk management exists on top of the SRI/ethical
screening.
Result = High quality assets with strong fundamentals and low debt-
to-equity ratios.
12. SHARI’AH AND CONVENTIONAL
INDICES
In the top 10 constituents of both the conventional and Islamic index,
there are three common constituents:
BHP Billiton, Samsung Electronics, and Taiwan Semiconductor.
Other familiar names that make up the top 10 list of the Shari’ah index are:
Canon Inc., Petro China Co. Ltd., H Shares, and China Mobile Ltd.
The Shari’ah Index is more spread out and exhibits diversification of risk
from the standpoint of country and sector allocation.
13. SHARI’AH AND CONVENTIONAL
INDICES
The total number of Shari’ah compliant constituents is 1,065,
with market capitalization at USD4.0 Trillion,
which is about 40.25 percent of the conventional market
capitalization.
14. ISLAMIC INVESTMENT UNIVERSE
Although Islamic investing is based on a more limited investment
universe, that universe has sufficient breadth and depth to construct
a portfolio of good quality stocks with sufficient liquidity.
As of 2012, the Dow Jones Islamic Market World Index (DJIM World)
has a universe of 2,413 stocks, which is 35.5 percent of the Dow
Jones Global Index of 6,850.
However, its market capitalization of USD18.35 million constitutes
41.5 percent of the Dow Jones Global Index’s total market
capitalization of USD44.12 Trillion.
Dow Jones Islamic Market
World Index (DJIM World)
2413 Stocks USD18.35 million market
capitalization
Dow Jones Global Index 6850 Stocks USD44.12 trillion market
capitalization
15. GLOBAL MARKET INDEX
August 2006 – December 2012
The Dow Jones Islamic Market World Index versus the Dow Jones
Global Index,
The Islamic Index had a cumulative price return of 3.83 percent
compared to -6.08 of the Conventional Index percent over this period.
It has been observed from past years that Dow Jones Islamic and
conventional markets move in a similar volatility pattern, proving
better risk-adjusted returns fro the Dow Jones Islamic Market World
Index.
Islamic Index – Dow
Jones
3.83 %
Global Index – Dow Jones -6.08%
16. EUROPE MARKET
The Dow Jones Islamic Market Europe Index returned a higher
cumulative performance of -8.26 percent compared with -21.80
percent by the Dow Jones Europe Index (E1DOW) in this period.
Dow Jones Islamic Market
Europe Index
-8.26%
Dow Jones Europe Index -21.80%
17. JAPAN MARKET
In Japan, in the same time period, the Dow Jones Islamic Market Japan
Index also outperformed the Dow Jones Japan Index (JPDOW) by
6.77% over this period.
18. INVESTING IN ISLAMIC FUNDS
Similar to the conventional investment process, the investment
manager can optimize a portfolio by:
1. anticipating market trends and
2. constructing a portfolio from the available investment universe to
deliver certain performance characteristics, which could be based
on stock picks, sector weightings, or both.
This is then applied across different investment capabilities such as
global, Asia-Pacific ex-Japan, and ASEAN.
19. WEIGHTINGS
Higher weightings in the basic materials, energy, health care,
telecommunications, technology, and industrial sectors are expected
to contribute to the strength of the Shari’ah investing approach,
as opposed to a conventional investment portfolio, which typically
has higher weightings in the financial sector.
20. THE EUROPEAN SUKUK WORLD
The UK is well-positioned to become the international hub for Islamic
capital markets, worth USD 271.0 million Sukuk outstanding (2012).
Ireland and France are close behind, with both governments passing a
law enabling the issuance of Sukuks in 2009.
Luxembourg has issued sukuk.
Malta has passed a budget for Islamic finance in 2014/2015.
Spain is considering Islamic finance.
21. THE AMERICAN SUKUK WORLD
The States of New York and Illinois have both passed legislation
enabling sukuk transactions.
Goldman-Sachs issued a USD$500 Million Sukuk.
East Cameron Gas and General Electric have issued Sukuk.
22. THE SUKUK WORLD
Ernst and Young predicts the sukuk market will reach USD$917 Billion
in 2019.
23. THE SUKUK WORLD
Investment exposure to sukuk can offer diversification benefits.
Sukuk prices generally hold up well because they are often treated as
a buy and hold investment.
This gives an additional layer of insulation against volatility relative to
conventional fixed incomes.
An easy way to access the Sukuk asset class is through a fund that
invests in diversified portfolio of global investment grade Sukuks
such as the Al Hilal Global Sukuk Fund.
24. THE SUKUK WORLD
Launched in 2012, the Al Hilal Global Sukuk Fund has delivered a
performance of 4.3 percent in only six months since its March, 2012
debut.
The fund invests in a diversified portfolio of Shari’ah-compliant
Sukuk issued by sovereign, quasi-sovereign, and corporations and
aims to generate regular income as well as capital appreciation.
25. THE SUKUK WORLD
There is evidence that diversifying a portion of one’s overall
investment portfolio to Sukuk investments away from traditional fixed
income will show an improvement in the Sharpe ratio without
diminishing investment returns.
The Dow Jones Sukuk Index (DJSI) produced superior returns over the
conventional index over 2 years as of September 2012.
26. THE SUKUK WORLD
Sukuk investing is unique in that it enlarges the existing conventional
fixed-income investment universe to grant conservative investors
attractive opportunities in a completely separate class of fixed-
income assets.
Sukuk issued by financial institutions constitute the second-largest
sector in the DJSI (about 30%).
This enables conventional fixed-income investors to diversify the
quality of their overall portfolio’s exposure to the financial sector as
they can gain experience to Islamic Banks.
27. SHARI’AH COMPLIANT UCITS
FUNDS
Most Shari’ah compliant funds cater to the domestic market, where
the funds are meant for investors in that country. These funds are
generally small and issued only in the home currency, and foreign
investors can view that as an impediment.
They would prefer the fund base currency to be an internationally
accepted currency i.e. the dollar or the euro.
Small fund sizes result in investor concentration risk and can be
illiquid.
The Shari’ah investment track record is too short to grant confidence.
28. SHARI’AH COMPLIANT UCITS
FUNDS
Fund performance figures are generally not calculated according to
global investment performance standards (GIPS).
As a domestic fund, it may not have internationally acceptable
Shari’ah interpretations.
29. UCITS FUNDS
The UCITS fund structure was initially designed as a European
regulatory “passport” in order to sell funds across the European
Union, and its acceptability has now expanded to other regions
around the world, including Latin America and Asia.
These types of funds are available in regulated offshore fund
platforms like Ireland (Dublin) and Luxembourg.
30. UCITS FUNDS
The UCITS structure is flexible enough that it can be offered in
multiple asset classes and multiple currencies to a broader investor
base.
As such, it can more easily build scale internationally.
Such platforms are popular in the conventional space and offer a
good platform from which to launch Shari’ah compliant funds.
Due to the common European standard, UCITS funds are regarded
globally as very well regulated funds that have robust risk
management procedures and a strong emphasis on investor
protection.
31. IRELAND
Under the Finance Bill Act of 2010, which took effect January 1, 2010,
the Irish Ministry of Finance introduced some significant amendments
to facilitate Islamic finance transactions in Ireland, especially Sukuk.
In 2011, the Securities Commission Malaysia and Central Bank of
Ireland signed an MOU to provide an arrangement for the two
regulators to exchange information and cooperate in the area of
regulation and supervision of authorized entities offering collective
investment schemes.
The Securities Commission Malaysia signed a similar agreement with
Luxembourg in 2012.
32. UCITS FUNDS
CIMB-Principal Islamic Asset Management established a UCITS funds
platform in Ireland in December 2011.
CIMB Principal Islamic has launched three Shari’ah UCITS funds –
Islamic Global Emerging Markets Fund, Islamic Asia Pacific ex-Japan
Fund, and Islamic ASEAN Equity Fund for international distribution.
CIMB Principal Islamic is offering its Shari’ah compliant funds in seven
jurisdictions:
Malaysia
UK, Switzerland, and Germany (Europe).
Saudi Arabia, UAE, Bahrain (Middle East).
33. UCITS FUNDS
Saudi Arabia currently has the largest Islamic fund assets under
management (AUM) in the world at USD 19.9 Billion.
A total of 26 Islamic UCITS in Luxembourg and Ireland were first
made available to international investors on global fund platforms
like Ireland and Luxembourg in 2000.
However, the majority of the funds were launched from 2008
onwards.
34. UCITS FUNDS
Shari’ah Compliant UCITS funds that currently exist on these
platforms were established by conventional global asset managers
from non-Islamic countries:
the US, Germany, the UK, France, Australia, and Switzerland.
35. SHARI’AH COMPLIANT EQUITIES
AND SUKUK
The widest selection is in global equity UCITS funds (sukuk).
In regards to global Sukuk, there is only one fund available in
Luxembourg, however, it is not UCITS-compliant.
36. UCITS FUNDS
Although Shari’ah compliant UCITS are referred to as Islamic, they
were mostly established by conventional asset managers.
Shari’ah compliant UCITS funds investors will be reassured by a
regulatory framework that is clear, straightforward, and easily
understood.
37. UCITS FUNDS
Shari’ah compliant UCITS are globally offered, but currently the
market is very small and totals 26 funds in Ireland and Luxembourg.
UCITS Fund structures are similar to a European passport that enables
to sell funds order across the European Union.