Conventional corporate finance requires the managers of a firm to manage the financial and other aspects of the business in a manner that increases the market value of the firm and therefore the value of a shareholder’s investment in the firm.[1] Apart from a few legal rules regarding wrongful trading and insolvency law, managers’ choices
1.1 DEFINITION OF “FINANCIAL CRISIS” Goldsmith has succinctly defined the term ‘financial crisis’ as a “sharp, brief, ultra-cyclical deterioration of all or most of a group of financial indicators”, such as short-term interest rates, asset prices, corporate insolvencies and the meltdown of financial institutions.[1] A ‘financial crisis’ leads to catastrophic turmoil in financial markets that
by: Abdullah Fahim[1] In this world, there are two things: good and evil. Sometimes there are things which fall in between them, which are known as the matters falling in ‘the grey area’. According to Islamic teachings, all the good things are considered ‘Halal’ or permissible, and all the evil things are considered ‘Haram’ or
‘Islamic finance’ is defined as finance that embodies the ethos and values of Islamic law.[1] It is much wider than the term ‘interest-free banking or finance’. Interest-free finance refers to a number of financial instruments and operations which try to avoid interest. However, Islamic finance does not only avoid interest-based transactions. It is also required
