Author name:
سوسن عبد الله عزيز
Supervisor name:
كاظم خليفة حمادي | ابراهيم كوان علي
Abstract:
In the name of god , thank god , and peace on prophet of Allah and on his companions . I'll start my words by who is better .. glory to be Allah , we have no knowledge except what you have taught us , you Alim Hakim . But after : The purpose of legitimacy is the supreme scientific reference , realism translation process was expressing of the human interests of all necessary, needful and improvement which must be nurtured and maintained and harness all possible means to serve and take care of it , all payment would create something of them , the five purposes are the greatest aims of the street and the finest human interests which underlying architecture and by all of them the human civilization was continue . The intent of this whole is honoring people and his service to do what was create of , it is to be a slave to god optional by them choice mandatory ( ) , and with the development of interest in Islamic economy and the expansion of the Islamic banking industry . it began the need to have an Islamic decades formats .. it was not there before like (the rent ending to ownership and the parallel forward buying , Islamic instruments , and ETC ).These are all financial innovations . Financial Engineering aimed to find products , Financial instruments to achieve standard macro and micro efficiency both. By the way achieving efficiency products for legitimacy is the basis of being Islamic , prevent usury, ambiguity , injustice , consuming people's wealth unlawfully , and ETC . But economic efficiency achievement in it their ability to the growing and renewable the economic needs . Also Islamic financial institution always need to keep a variety of tools and financial products which enable them to profitably manage their money As well As providing appropriate flexibility in response to change in the economic environment and also that reliance on a single product is not sufficient to cope with the expectation of customers .Thus highlighting the importance of this study In an attempt to shed light on the impact of the legitimate purpose in the Islamic financial engineering industry that is suitable for finding innovative solutions and new financial instruments tool. Even savings of the nation employs a way that achieves the economic development .. taking into account that the approval of Islamic legitimacy from and content The problem of this study : It is stand on what's legal opinion about financial solutions and innovative financial instruments by processing Multi - risks which surrounding Islamic banking to save investor's money . This risks is credit risks , market risks , money risks , and operational risks which faced by the investment portfoin under the Islamic banking system , and research on the progress of the Islamic financial Engineering for tools and methods are flexible and realistic of what it need these issues from understand the reality and the requirements of the application to provide an opportunity for investor through it reduce losses and risks , through diversifying its investment , and the choice of financial instrument that improve money management and investing all of this with legal (prevent usury , deception , injustice , and the fraud) which helps to the distribution of financial and economic resource more evenly and efficiently . The difficulties that I faced in the study : That lack of economic studies and research centers which concerned with research of Islamic financial market in Iraq. in addition to all that most of studies in the international financial market is usually in English . As well as the international Islamic financial market's website is in English too . So I faced the difficulty of lack resource and research in Arabic , as well as the difficult security condition that we face in the country .the study's methodology : I have used abstract useful analytical inductive and deductive to visualize an application for all formats and Islamic investment tools and discovery latest methods and techniques to expand the circle of funding , discovery a new banking concept formats and the development of existing formulas to keep pace with development it's in banking to receive more money which increased revenues over time and maximize profitability by controlling operating expenses and reduced .As for the plan of structural I was prepared for this study it's as follows included on the foreword and three chapters .Chapter one . identify concept and terms constituent of this study and includes two section - first section , the definition of the purposes of Islamic legitimacy and it's characteristics and division - second section, which includes the definition of Islamic financial engineering and its inception , importance ,its principles , founded , characteristics of their products , and their curricula .Chapter Two . the diversity of Islamic financial engineering products its included two section - first section , products based on real assets ( sale and rent ) - second section , products based on profit partnership ( decades partnership).The third and last chapter . the impact of the purpose of the legitimacy in the Islamic financial engineering products , it's included three sections.First section , the impact of the purposes of the statements of legitimacy in profit to buy something , parallel forward buying , parallel custom order , the rent ending to ownership and including hedge means. - second section , the impact of the purposes of the legitimacy to participate ending with ownership , common speculative, and the ways in which hedge. - the third section , the impact of the purposes of the legitimacy in applied models for Islamic financial engineering products. And the conclusion was included on the importance results that would take into account to the need of Islamic banking
