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Mohamed Ariff

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Mohamed Ariff

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Mohamed Ariff

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Mohamed Ariff

This chapter introduces the reader to a brief description of modern finance ideas as regards wealth management. As at 2016, the total wealth under management as securities is about US$44 trillion managed by some 13,000 management companies. Humanity has accumulated wealth aster in the last century than at any time in history. Most of the wealth – almost three quarters of them - is concentrated in the industrialized countries. How the wealth is managed by advanced IT-based mathematical models is explained in this chapter. None of these methods are excluded if one were to adopt Islamic concept of wealth, which idea leans in ways to make the choices of wealth creation, and management on the basis of moral sentiments of the community in which wealth should be accumulated to benefit the community.

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Mohamed Ariff

Sukuk bonds are certificates issued by a borrowing firm to the joint owners who provide the funds when a firm issues sukuk bonds. There are six different types of funding for six different purposes for which funds can be borrowed in a sukuk bond exchange. There are some 17 such exchanges and the exchange in Malaysia holds two-thirds of the outstanding value of such bonds. This chapter provides an introduction of the principles governing the issuance of such debt instruments. It also examines the pricing behaviour to show how the yields are different for different tenor, and for difference sin riskiness.

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Mohamed Ariff and Shamsher Mohamed

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Mohamed Ariff, Munawar Iqbal and Shamsher Mohamed

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Mohamed Ariff, Meysam Safari and Shamsher Mohamed

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Mohamed Ariff, Munawar Iqbal and Shamsher Mohamed

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Mohamed Ariff and Alireza Zarei

Researchers focusing on how currency values change and are managed have yet to show how relative measures could help track instability and also help rank countries by relative measures rather than measures based on each currency. The aim of this chapter is to provide ideas towards this end to measure currency instability and then to rank currency risk. We also test how these measures stand up. Exchange rate volatility has been at the center of several financial crises normally leading to economic declines, which usually also precipitate financial instability. Much has been written about how countries manage their exchange rates in order to promote economic growth, especially sustainable trade, by designing proper exchange rate regimes. Exchange rate stability has been a pillar within economic policy circles ever since the 1946 Bretton Woods arrangement, which replaced the US$ and gold standard with free-floating or other currency management regimes, came unstuck in 1973. How good currency stability is achieved by a given country could be measured using four concepts: relative volatility; interquartile range; degree of cointegration; and speed of adjustment to the benchmark currencies of peers. We explore these ideas in relation to the experiences of 14 countries over some 26 years.