الهندسة المالية ودورها التنموي في الاقتصاد المصري (في ضوء بعض التجارب الدولية)
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The article evaluates the role of financial engineering in the growth of the financial market. The study explores the plausibility of the assumption of the research topic stated above, using the financial market as a focal point. Specifically, this paper reports a theoretical examination that simultaneously considers the effects of these relationships between financial engineering, financial market and growth of the financial market, and the role of corporate governance as financial engineering and derivatives market growth, mergers and acquisitions. It encapsulates the role of technological innovation, market restructuring and capitalization, e-banking, cashless economy in that engineering financial market. The paper appraisals sound empirical ideals and opinions, and stimulate financial engineering expertise into philosophical interaction imbibing laws and regulations into sequential growth and qualitative financial market. The paper holds, therefore that financial market enjoyed accelerated growth with holistic turn around when the objectives of these image makers are adequately aligned. It therefore recommends that policy makers should domesticate frameworks in that encouraging as well as supporting financial markets for accelerated growth and development. It however concludes that the policies reformation has not been properly enunciated with a corresponding framework to guide the objectives of ensuring stability and growth financial markets.
As we know, in recent years, Islamic finance has been increasing rapidly. Despite a very small share in the global financial system, it attracts all specialists in the field with an average annual growth rate of 20%. It is noteworthy that Islamic finance can be used not only in Muslim сountries but alsо in non-Muslim countries. In this article has been investigated the impact of sukuk development on the economy which is the second largest sector of Islamic finance and used data from Malaysian indicators for 2006-2018 years. There are provided some ideas for the future researches at the end of the paper based on obtained positive results of the study. © 2019 by Advance Scientific Research. This is an open-access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/)
The importance of Islamic sukuk, especially sovereign Islamic sukuk (which are issued by the government) for a country as Jordan that needs to develop projects and finance these projects is a very vital issue. Jordan does not have enough economic resources, but it can rely on national savings and use them effectively, rather than relying on foreign financial aids that represent a burden on the national economy and increase in external indebtedness, but all of that does not deny the issuance of these sukuk represents new financial obligations on the government if these sukuk are directed to meet the public common of Jordan's needs in a time that requires sukuk to be issued to the existence of real assets, not cash, and here we highlights that the most important question which is do we have the ability to find real and new assets so that we can benefit from the issuance of these sukuk?
Gender bonds are social bonds with a gender focus, representing a promising financing vehicle for institutions committed to addressing and reducing gender inequality by improving womens access to financing, leadership positions, and equality in labor markets. This document summarizes the main characteristics of Mexicos first gender bond, issued by the Trust Funds for Rural Development (Fideicomisos Instituidos en Relación a la Agricultura, or FIRA) with the aim of expanding the resources available to finance projects led by women in rural areas. This bond also represented the first to be issued by a national development bank (NDB) in Latin America and the Caribbean (LAC). This document thus also highlights the potential of this financing instrument and the opportunities it offers to NDBs to mobilize private sector resources to expand the financing frontier for women while fostering best practices to serve them. This potential is particularly relevant considering that women entrepreneurs in LAC remain underserved by financial institutions and gender gaps prevail in access to finance and financial inclusion.
The article discusses the possibilities of using the additional sources of financing in the construction and operation of infrastructure health facilities in the framework of public-private partnership agreements. The specificity of infrastructure bonds as a form of investment in the infrastructure facilities’ creation in the health sector is clarified.
It is proposed to expand the list of PPPs in the healthcare sector by means of the non-concession models. In concessions, there are a number of restrictions removed in the application of non-concessive PPPs. Therefore, the project bonds should be separated from the concession bonds. The project bonds’ liquidity is determined by collateral, which can be the government guarantees, future cash income, real estate created. It is important to legally link the use of project bonds and the issuance of state guarantees in the long term, developing the institution of the rights’ pledge to claim the future cash payments.
Financial Technology (FinTech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones and mobile devices. Fintech, the word, is a combination of "financial technology". Over the past few years, FinTech has been embedded in the financial services ecosystem to such an extent that the term has now made its way into a few leading dictionaries. While the general perception of FinTech is 'products and companies that employ newly developed digital and online technologies in the banking and financial services industries', we believe that FinTech has evolved to perform a much more strategic and focused role. The wider objective of FinTech is to serve the unmet financial needs of those segments of the population which are not the core target segments of traditional financial services 198 models. Thus, FinTech aims to contribute to the larger goal of financial inclusion (Lele S.,2019). This article will analyses several studies which focus on the characteristics of FinTech, intending to offer a synthesis of the ways in which it impacts financial inclusion.
The green bond market is attracting new issuers and a more diversified base of investors. However, the size of the green bond market remains small compared to the challenges it is meant to address and to the overall traditional bond market. This paper is based on a unique methodology combining an extensive literature review, market data analysis, and interviews with a large spectrum of green bond market participants. We identify the current barriers explaining the lack of scalability of the green bond market: a deficit of harmonized global standards; risks of greenwashing; the perception of higher costs for issuers; the lack of supply of green bonds for investors; and the overall infancy of the market. This paper makes several recommendations to overcome these obstacles and unlock the full potential of green bonds to finance sustainability goals.
As observed in at least the last two decades, financial engineering has not only changed the way in which business is conducted in the finance world, but also the daily life of the average citizen in the leading economies. Structured products have been deemed weapons of mass destruction in some post-crisis comments, but it is fair to say that few people could understand the nature and risks of these instruments before the crisis. In this paper, the author analyses how regulators failed to understand/manage the risks of financially engineered products during/before the global financial crisis. After defining the risks/benefits, the measures to enhance good regulatory governance in general and hence engineered products also are discussed. It is concluded, first, that engineered products have important benefits for the global economy, but that the regulatory/supervisory structure should be improved for better firm/system-wide risk management. Secondly, four components are recommended to improve the prudential regulatory/supervisory framework: to employ timely, effective action to balance sheet problems, to increase the effectiveness of firm/industry-wide risk management, to improve the independence and quality of prudential regulation and to increase the accountability of supervisors.