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Determinants Of The Adoption Of Islamic Finance By Cameroonian Smes: Case Study From A Psycho-Sociological Characteristics Of Managers, Jérôme Gonne, Yaouba Mohamadou

The Journal of Entrepreneurial Finance

Small and Medium-Sized Enterprises (SMEs) today form the backbone of the African economy in general and Cameroon in particular. However, Cameroonian SMEs encounter many difficulties, one of the most important is the access to so-called conventional financing. Faced with this situation, some of them will seek alternative means such as Islamic finance. Despite its development over the past two decades, Islamic finance is struggling to find a place in the financial decisions of Cameroonian SMEs’ Managers. This study aims at highlighting the psycho-sociological characteristics of policymakers in directing their decision towards the Islamic finance product. Data collected from a sample …

The Standards Controlling The Islamic Finance Designs, Ashraf Dawaba

Al Jinan الجنان

الهندسة المالية قديمة قدم المعاملات المالية ذاتها ، وإن كانت كمصطلح عرف طريقه للوجود والانتشار في الثمانينات من القرن الماضي لمواجهة المخاطر التي تتعرض لها منشآت الأعمال . وقد كان سوق رأس المال المنطلق الأساسي للهتدسة المالية، فمن خلاله ابتكرت العديد من الأدوات والعملياتالمالية وعملت على صياغة حلول خلافة لمشاكل التمويل. وبات مصطلح الهندسة المالية لصيقاً بالمشتقات المالية بدرجة كبيرة.

ومن خلال مصطلح الهندسة المالية الإسلامية، وإن كان مضمونه يمتد عبر جذور الماضي من عهد الرسالة، فقد عرف المسلمون الأوائل إدارة المخاطر والابتكار والتطوير ووضع حلول مبدعة لمشاكلهم المالية في إطار البيئة التي كانوا يعيشون فيها.

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Islamic Profit And Loss Sharing Contracting Versus Regular Equity In Entrepreneurial Finance: Risk Sharing And Managerial Incentives, Abdulali Hadizada, Peter Nippel

The Journal of Entrepreneurial Finance

An entrepreneur shares business risk with the investors providing capital for her firm. Risk sharing is per se beneficial, but also results in an agency problem from diminished incentives for the entrepreneur. This classical trade-off depends on the financial contracting between the entrepreneur and the financier. As an alternative to debt or equity, we consider musharaka financing, an Islamic profit and loss sharing contract. First, we show that debt is inferior to equity or musharaka even though debt financing ensures first best efforts in our model. Whether financing with equity or by use of musharaka results in higher utility for …