Ship Financing in Germany: A possible Area of Application for Islamic Finance?

Business & Finance, Finance & Investing, Finance
Cover of the book Ship Financing in Germany: A possible Area of Application for Islamic Finance? by Gregor Sahler, GRIN Publishing
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Gregor Sahler ISBN: 9783656007074
Publisher: GRIN Publishing Publication: September 14, 2011
Imprint: GRIN Publishing Language: English
Author: Gregor Sahler
ISBN: 9783656007074
Publisher: GRIN Publishing
Publication: September 14, 2011
Imprint: GRIN Publishing
Language: English

Master's Thesis from the year 2011 in the subject Business economics - Investment and Finance, grade: 1,3, University of Hamburg, language: English, abstract: The beginnings of modern Islamic finance date back to the 1970s when some financial institutions in Egypt and the Middle East started to offer interest-free financial services in order to comply with the rules laid down in the Sharia. Services, however, were not yet totally Sharia-compliant. Besides a lack of the necessary infrastructure and trained staff, a commonly accepted definition of what constitutes Sharia-compliance was missing. Even today, opinions differ widely if certain presumably Sharia-compliant financial products really deserve the branding. Nevertheless, a wide array of Islamic financial products ranging from home financing to insurance are nowadays available. Though the industry is currently managing Sharia-compliant assets of USD 895 billion, Islamic finance certainly must still be considered as niche market. However, globalization in general and the flow of funds into Muslim oil producing countries in particular could further strengthen the position of Islamic financial products. In comparison, the concept of joining forces to finance ships dates back to the 16th century. Only few could afford to individually provide all the funds needed to finance an entire vessel. Although financing schemes in the shipping industry have become more sophisticated over the centuries, the basic strategy to put the financial risks on many shoulders has prevailed until today. As this work will point out, sharing risks and rewards along with a strong emphasis on asset-backed financing are the key features of both, Islamic and shipping finance. Therefore, using Islamic financing techniques to fund vessels, at least at first glance, does not seem to be far-fetched. Indeed, a few presumably Sharia-compliant ship financing schemes have been implemented in the past. To my knowledge, however, no scientific research about the expedience of linking Islamic finance to funding ships has been provided yet. Thus, this work aims at analyzing the feasibility of connecting these two fields with each other.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Master's Thesis from the year 2011 in the subject Business economics - Investment and Finance, grade: 1,3, University of Hamburg, language: English, abstract: The beginnings of modern Islamic finance date back to the 1970s when some financial institutions in Egypt and the Middle East started to offer interest-free financial services in order to comply with the rules laid down in the Sharia. Services, however, were not yet totally Sharia-compliant. Besides a lack of the necessary infrastructure and trained staff, a commonly accepted definition of what constitutes Sharia-compliance was missing. Even today, opinions differ widely if certain presumably Sharia-compliant financial products really deserve the branding. Nevertheless, a wide array of Islamic financial products ranging from home financing to insurance are nowadays available. Though the industry is currently managing Sharia-compliant assets of USD 895 billion, Islamic finance certainly must still be considered as niche market. However, globalization in general and the flow of funds into Muslim oil producing countries in particular could further strengthen the position of Islamic financial products. In comparison, the concept of joining forces to finance ships dates back to the 16th century. Only few could afford to individually provide all the funds needed to finance an entire vessel. Although financing schemes in the shipping industry have become more sophisticated over the centuries, the basic strategy to put the financial risks on many shoulders has prevailed until today. As this work will point out, sharing risks and rewards along with a strong emphasis on asset-backed financing are the key features of both, Islamic and shipping finance. Therefore, using Islamic financing techniques to fund vessels, at least at first glance, does not seem to be far-fetched. Indeed, a few presumably Sharia-compliant ship financing schemes have been implemented in the past. To my knowledge, however, no scientific research about the expedience of linking Islamic finance to funding ships has been provided yet. Thus, this work aims at analyzing the feasibility of connecting these two fields with each other.

More books from GRIN Publishing

Cover of the book 'Gentlemen, Be Seated!' The Rise and Fall of the Minstrel Show by Gregor Sahler
Cover of the book Voluntary Implementation of IFRS in German Non-Listed Companies by Gregor Sahler
Cover of the book Women and Resource Use - A study of rural women in a spiny desert region in Madagascar by Gregor Sahler
Cover of the book The theory of federalism revisited: Comments on the preliminary results of the Bundestag and Bundesrat committee on modernising the federal system by Gregor Sahler
Cover of the book The Carnivalesque Flows: Art and Advertising by Gregor Sahler
Cover of the book Development as Freedom by Gregor Sahler
Cover of the book Unemployment and delinquency by Gregor Sahler
Cover of the book Personalized Learning by Gregor Sahler
Cover of the book The Foreign Policy of the Federal Republic of Germany: Still a Civilian Power? by Gregor Sahler
Cover of the book Race, Expansion & War by Gregor Sahler
Cover of the book The motive of Exile: Liabilities and possibilities in Vladimir Nabokovs 'Pale Fire' by Gregor Sahler
Cover of the book 'Yahoo!' - A case study about brand valuation by Gregor Sahler
Cover of the book The Lemon. The History and Effects of this Citrus Fruit by Gregor Sahler
Cover of the book Development of a new competence and behaviour model for skills in working with people for project managers by Gregor Sahler
Cover of the book The Procter & Gamble Acquisition of Gillette by Gregor Sahler
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy