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Sunway campus > School of Business > Research at Business > Impact Area

CORPORATE SUSTAINABILITY AND BUSINESS ETHICS

affiliated with Banking & Finance Unit

 

Islamic Banking & Finance

  •  Description

    Islamic banking and finance has evolved rapidly, and it is among the fastest growing financial segments in the world, with an estimated annual growth of 20%. Today, the total assets of the Islamic financial system have surpassed one trillion US dollars, about five-fold its magnitude five years ago. Within a short period of fifty years, the first half of which was devoted mainly to theory and model building, Islamic banking and finance has established itself as an alternative, claiming ethical superiority over conventional financial system. Researches in this unit are undertaking studies to determine the customer’s perception towards Islamic banking and finance products and services and how this would have an impact on the growth of Islamic banking and finance in Malaysia and the region.

    Strengths include: Islamic Insurance (Takaful), Islamic Bond (Sukuk), Islamic Unit Trust, Al-Rahmi, Islamic Derivatives, Product Pricing and Consumer Behaviour

     

  •  Research Staff

 

OUTCOMES

  •  Publications

    Books

    Alam, N. & Shanmugam, B. (2007), Islamic Banking: The Challenges Ahead (Eds), UPM Press, Malaysia.

    Haron, S., Alam, N. & Shanmugam, B. (2007), Islamic Financial System: A Complete Guide, Pelanduk Publication, Malaysia.

    Khir, K., Gupta, L. & Shanmugam, B. (2007), Islamic Banking: Practical Perspective, Pearson-Longman, Kuala Lumpur, Malaysia.

    Refereed Journals

    Alam, N. & Shanmugam, B. (2007), “Disclosure Level Amongst Selected Islamic Banks”, International Journal of Business Research (IJBR), Vol. 7, No.41, October Edition.

    Alam, N. & Shanmugam, B. (2007), “Surmounting Standardization in Islamic Finance”, Journal of Islamic Business & Finance, January Edition, Issue 15.

    Kuppusamy, M. & Shanmugam, B. (2007), “Islamic countries Economic Growth and ICT Development: The Malaysian Case”, Journal of Economic Cooperation Among Islamic Countries , Vol 5, No.8.

    Shanmugam, B. & Gupta, L. (2007), “Islamic banking: a Technical Perspective”, In the Black (CPA Australia), November, Vol 77:10, p. 62-65.

    Shanmugam, B. & Perumal, V. (2007), “Corporate Governance Issues in Islamic Nations”, Journal of Corporate Ownership and Control, Vol.5, Issue 1.

    Shanmugam, B. (2007), “Promoting Transparency in Islamic Banks”, The Halal Journal, Jan-Feb Edition

    Refereed Conference Papers

    Alam, N. & Shanmugam, B. (2007), “Disclosure Level Amongst Selected Islamic Banks”, International Academy of Business and Economics (IABE) 2007 Annual Conference, 14-17 October, Las Vegas, Nevada, USA.

    Alam, N. (2007), “Electronic Payment System for Islamic Banks: Application of FEDI”, 5th International Islamic Finance Conference, 3-4 September, Kuala Lumpur, Malaysia.

    Alam, N. (2007), “Transparency level Amongst Selected Islamic Banks: Applying Bank Disclosure Index”, 5th International Islamic Finance Conference, 3-4 September, Kuala Lumpur, Malaysia.

    Bhatt, H. P., Ravindran, R. & Shanmugam, M. (2007), “Portfolio and optimization of Islamic bonds: Application of barbell strategy “Proceedings of the International conference on Islamic Capital Markets, 27-28 August, Jakarta, Indonesia.

    Kasipillai, J. & Shanmugam, B. (2007), “Sources Of Islamic Financing And Tax Implications” 5th International Islamic Finance Conference, 3-4 September, Kuala Lumpur, Malaysia.

    Kunhibava, S. (2007), “The Demise of Bai-inah, Isn’t it Time”, 5th International Islamic Banking and Finance Conference, 3-4 September, Kuala Lumpur, Malaysia.

    Kuppusamy, K. & Vaithilingam, S. (2007), “Informational Value Effect of Syariah Index Original Inclusions and Additions: Evidence from the Malaysian Stock Market”, 2nd IBS Ahmedabad International Conference on Management, 27-29 December, Ahmedabad, India.

    Ravindran, R., Bhatt, H.P. & Shanmugam, M. (2007), “Segmental Behaviour of Islamic and Conventional Interbank offered Rates: Evidence from Malaysia?”, 5th International Islamic banking and finance conference, 3-4 September, Kuala Lumpur, Malaysia.

    Samudhram, A. & Shanmugam, B. (2007), “Halal-based Technologies and Islamic Finance”, 5th International Islamic Finance Conference, 3-4 September, Kuala Lumpur, Malaysia.

    Shanmugam, B. (2007), “Application of Islamic Law to Islamic Finance: Issues and Challenges”, Asia Business Forum, 14-15 November, Kuala Lumpur, Malaysia.

    Shanmugam, B. (2007), “Riding the new wave of Islamic finance to success in regional bancassurance”, Bancassurance – Achieving Operational Excellence, MarcusEvans Conference, 12-13 February, Bangkok, Thailand.

    Sinnakkannu, J. & Bhatt, H.P. (2007), “ The Islamic Gold Dinar: Is it still an alternative hedge against currency exchange rate risk?”, 5th International Islamic banking and finance conference , 3-4 September, Kuala Lumpur, Malaysia.


    Others

    Kunhibava, S. (2007), ‘Overview of Legal Challenges in Islamic Banking and Finance’ in Alam, N, Shanmugam B., (Eds), Islamic Finance The Challenges Ahead, UPM Press, Malaysia.

    Kuppusamy, K. & Rahman, M.N.A. (2007), "Developing a Strategy Map and a Balanced Scorecard for Islamic Banks” in Alam, N. & Shanmugam, B. (Eds.), Islamic Finance: The Challenges Ahead, UPM Press, Malaysia.

    Alam, N. & Shanmugam, B. (2007), “Islamic Finance: A Contrarian View”, Islamic Finance News, Vol.4, Issue 6.

    Alam, N. & Shanmugam, B. (2007), “Strong Regulatory Framework: A Vital tool for Islamic Banking”, Islamic Finance News, Vol.4, Issue 5.

    Alam, N. (2007), “Mauritius: A New Avenue for Islamic Banking and Finance” Islamic Business and Finance, September Edition.

    Gupta, L. & Shanmugam, B. (2007), “The Rural Islamic Card: Exploring Feasibility in Malaysia”, MIF Monthly, 30th April.

    Kunhibava, S. (2007), “Speculation and Derivatives”, Islamic Finance News, June 1, Vol. 4, Issue 22, p. 14.

    Kunhibava, S. (2007), “Standardizing Spelling of Islamic Banking Terms”, Islamic Finance News, January 12, Vol. 4, Issue 2.

    Kunhibava, S. (2007), “The Possible Use of the Ju’alal Contract as a Derivative: Part 1”, Islamic finance News, February 9, Vol. 4, Issue 6.

    Kunhibava, S. (2007), “The Possible Use of the Ju’alal contract as a Derivative: Part II”, Islamic Finance News, February 16, Vol. 4, Issue 7.

    Kuppusamy, K. & Shanmugam, B. (2007), “Tapping into Islamic Finance in a Dual Banking System”, Islamic Banking and Finance, Vol. 5, Issue 4, No. 15, Winter 2007/1428.

    Kuppusamy, M. & Shanmugam, B. (2007), “Inefficient use of Technology”, Islamic Finance News, Vol. 4, Issue 2.

    Shanmugam, B. & Alam, N. (2007), “Twenty Five Years On: The Growth of Islamic Banking in Malaysia”, Islamic Finance Today, Special Issue, May Edition.
     

  •  Research Grants

    Principal Investigator

    Project Title

    Source

    Prof Bala Shanmugam Investigating the Relationship between Islamic, Judeo-Christian and Oriental Banking Systems Monash University Sunway Campus Research Grant (2003)
    Prof Bala Shanmugam

     

    Co-researchers

    Prof Mahendhiran

    Mohamed Nazim

    Norita Nasir

    Standardization within Islamic Banking Industry in Selected ASEAN Countries Monash University Sunway Campus Research Grant (2004)
    Prof Bala Shanmugam Standardization within Islamic Banking Industry in Selected ASEAN Countries and Australia Global Movement Project - GMP (Monash University Australia) (2005)