FINANCE & BANKING
By Mamunur Rashid According to Malaysia Islamic Finance Marketplace, Zawya Islamic and Thomson Reuters, Islamic finance has been growing at a double-digit rate since the start of the new millennium. In this article the author discusses the potential of Islamic Finance in Kazakhstan, and its role in the success of Islamic Finance in Central Asia.
By Ebi Junaidi Global economy has been leaning toward innovations focussed in achieving sustainability. Ebi Junaidi promotes the age-old Waqf “movement” established by the Muslims. The Waqf system, with its philanthropic nature, does not only motivate
By Philip Marcovici This is Part Two of the article. Part One introduced the topic of tax transparency, and the global move towards automatic information exchange. Part One discussed some of the many abuses of bank secrecy by legacy private banks and
By Philip Marcovici This is Part One of the article, and Part Two will be published in the next edition of the World Financial Review Tax compliance is one of the many challenges different nations are facing. When we think of wealth owners “hiding” their
By Volga Can Ozben and Richard Westra Volga Can Ozben and Richard Westra maintain Turkey under Recep Tayyip Erdoğan as a poster case for the modern state of exception. This is a condition where constitutional and legal provisions in democracies, designed to
By Barbara Casu This article discusses the key implications of Brexit for the UK financial services industry, looking at the differences between: membership vs. access; passporting rights vs. equivalence principle; customs union vs. free trade agreement.
By Ivan Illán Amongst political and business leadership, there’s a popular bias that domestic currency depreciation and/or devaluation is negative for a nation’s economy. Instead, downward currency movements present a positive GDP benefit due to
By Stephen G. Cecchetti & Kermit L. Schoenholtz Are higher capital requirements really a drag on economic growth? Many people seem to think so. We disagree. In this essay, we describe how better capitalised banks experience lower funding costs, and how
By Matthias Kasper and Erich Kirchler Fostering tax compliance is a key challenge for global politics. Public revenues need to be protected, and confidence needs to be restored in a system that is deemed ineffective. Conservative estimations indicate that
By Pratip Kumar Datta and Saumya Chakrabarti In this article, the authors discuss the recent demonitisation policy introduced by the Indian government in November 2016, and what it means for the Indian economoy now, and in the future. Demonetisation