Cover -- Half Title -- Title -- Copyright -- Contents -- Foreword -- Acknowledgments -- Glossary -- Abbreviations -- Overview -- 1 Islamic Finance and Shared Prosperity -- 2 The State of Development and Shared Prosperity in OIC Countries -- 3 The Islamic Banking Sector -- 4 Islamic Capital Markets -- 5 Takaful (Islamic Insurance), Retakaful, and Microtakaful -- 6 Nonbank Financial Institutions -- 7 Alternative Asset Classes -- 8 Islamic Social Finance -- 9 Public Policy Measures to Enhance Shared Prosperity -- Chapter Attributions -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- Q -- R -- S -- T -- U -- V -- W -- Y -- Z -- BOXES -- 1.1 The World Bank Group Approach to Enhancing Shared Prosperity -- 1.2 The Islamic Development Bank Group Strategy for Development -- 1.3 Key Institutions in an Ideal Islamic Economy -- 1.4 Why Is Debt Finance So Prevalent? -- 1.5 Key Instruments of Redistribution in Islamic Finance -- 1.6 How Development of the Financial Sector Could Promote Shared Prosperity -- 3.1 Abu Halima Mudarabah Greenhouse Project in Sudan -- 3.2 Channels of Financial Inclusion from an Islamic Finance Perspective -- 3.3 Islamic Banking: Is It Good for Growth? -- 4.1 Issuances in IDB's Medium-Term Note Program -- 5.1 Similarities and Differences between Conventional Mutuals/Cooperatives and Takaful -- 5.2 Country Case: Regulation and Challenges in Nigeria -- 6.1 Case 1. Green Sukuk and the Rising Trend in Responsible Investment -- 6.2 Case 2. Liwwa: A Shari'ah-Compliant Peer-to-Peer Lending Platform -- 6.3 Case 3. NBFI Shari'ah-Compliant Home Financing in Canada -- 6.4 Case 4. ASR Leasing in Tajikistan -- 8.1 Case 1. Revolving Credit out of Pooled Sadaqat and Zakat Proceeds: Akhuwat, Pakistan -- 8.2 Case 2. Community-Driven Development: Dompet Dhuafa Republika, Indonesia.

1.2 Functions of the Financial Sector and Factors Affecting Shared Prosperity -- 2.1 Factors to Measure Core Development Components -- 3.1 Islamic Financial Institutions and Financial Inclusion by Country -- 3.2 Islamic Banking Assets by Region, 2013 -- 3.3 Financial Soundness Indicators, All Islamic Banks -- 3.4 Demand Deposits and Investments of Islamic Banks, 2012 -- 4.1 Measures of Selected Shari'ah-Compliant Indexes and Benchmark Indexes for Various Holding Periods -- 4.2 Status of Sukuk as of December 31, 2014 -- 4.3 Status of Sukuk by Region, 2001-14 -- 4.4 Sukuk by Their Underlying Contracts -- 5.1 Takaful Models -- 5.2 General Characteristics of Microtakaful -- 5.3 Best Practice Charter for Takaful Operations Worldwide -- 6.1 Classification of Nonbank Islamic Finance Institutions -- 6.2 Size of Capital Markets and Mutual Fund Assets in Selected World Regions, 2012 -- 6.3 Funds Launched and Asset Type, 2009-13 -- 6.4 Gaps in Enterprise Financing -- 6.5 Financing Penetration for SME Financing and Preference for Shari'ah-Compliant Products -- 6.6 Demand for Housing Units by Region, 2010-20 -- 6.7 Housing Finance in Pakistan, End-2014 -- 6.8 Deposit Raising by Mudarabah Companies, End-2104 -- 7.1 Alkhabeer Financial Highlights -- 7.2 Funding of Phase III Electricity Project in Rural Mozambique -- 8.1 Gap in Resources Needed to Alleviate Poverty -- 8.2 Estimates of the Potential of Zakat -- 9.1 Potential of Various Channels of Islamic Finance to Meet the SDGs and Enhance Shared Prosperity -- 9.2 Twenty Key Initiatives under the Mid-Term Review -- 9.3 Progress in Developing Islamic Finance in Indonesia, Malaysia, and Pakistan -- 9.4 Recommendations and Policy Interventions by Sector.

2.11 Sources People Use to Obtain Funds, Ratio of OIC to Non-OIC Countries, Regional and Income-Level Classification -- 2.12 Social Inclusion, Ratio of OIC to Non-OIC Countries -- 2.13 Domestic Credit to the Private Sector -- 2.14 Gross Portfolio Debt Assets to GDP -- 2.15 Gross Portfolio Equity Assets to GDP -- B3.2.1 Channels of Financial Inclusion -- 3.1 Average Percentage Increase in Various Elements of Islamic Banking, 2010-13 -- 3.2 Financing by Sector, Islamic Banks, 2012 -- 3.3 Regional Shares of Number of Banks, Deposits, and Assets -- 3.4 Islamic Modes of Finance by Islamic Banks, 2012 -- 4.1 The Values-Driven Structure of the Islamic Capital Market -- 4.2 Market Capitalization versus Capital Formation in OIC and Non-OIC Member Countries by Income Group -- 4.3 Relative Performance of Conventional versus Shari'ah-Compliant Stocks, Global Indexes -- 4.4 Relative Performance of Conventional versus Shari'ah-Compliant Stocks, Regional Indexes -- 4.5 Breakdown by Sector of Major Conventional and Shari'ah-Compliant Indexes -- 4.6 Sukuk Issuance, 2001-14 -- 4.7 Cumulative Issuance of Sukuk, 2001-14 -- 4.8 Characteristics of the Sukuk Market -- 4.9 Maturity Structure of Sukuk Instruments -- 4.10 Sukuk by Structure, 2001-14 -- 4.11 Sukuk Issuance by Sector, 2001-14 -- 5.1 Total Amounts of Global Gross Takaful Contributions by Region, 2009-2014f -- 6.1 Global Islamic Asset Management Industry, 2008-14 -- 6.2 Assets under Management by Fund Type, 2008-14 -- 6.3 Global Islamic Funds Outstanding by Geographic Area, End-2014 -- 6.4 Global Islamic Asset Management Funds by Asset Class, End-2014 -- B6.2.1 Liwwa's Operating Framework -- 9.1 Distinctive Features of the Mid-Term Review -- TABLES -- O.1 Recommendations and Policy Interventions by Sector -- 1.1 Percentage of Population Living below 1.25 a Day, 1981-2011.

8.3 Case 3. A Zakat Fund: Al-Aman Microfinance Fund, Sudan -- 8.4 Case 4. Corporate Waqf: Johor Corporation's Waqaf Al-Noor, Malaysia -- 8.5 Case 5. Using Waqf to Fund Microfinance: The Fa'el Khair Program, Bangladesh -- 8.6 The Role of Islamic Finance in Empowering Women: The Islami Bank Bangladesh Limited Microfinance Program -- 9.1 Indonesia's Initiative to Take Islamic Finance to the Next Level of Development -- 9.2 Diversified Institutions and Efforts toward Financial Inclusion: Highlights of Some Policy Initiatives of the State Bank of Pakistan -- 9.3 Integrating Islamic Finance into Global Finance: IMF-World Bank Joint G-20 Note -- 9.4 Regulatory Developments at the International Level: Supporting Shared Prosperity -- FIGURES -- 1.1 GDP Growth Reduces Poverty -- 1.2 Percentage of Income Held by the Top and Bottom 10 Percent in Select Countries -- 1.3 Islamic Framework to Achieve Sustainable Development and Shared Prosperity -- B1.4.1 Global Outstanding Debt -- B1.4.2 Stock Markets versus Debt Securities -- 1.4 The Contrasting Effects on Growth of Different Forms of Financial Expansion -- 2.1 Progress in Meeting Millennium Development Goals 1-5 -- 2.2 Poverty Headcount Ratios, Income-Level Classification -- 2.3 Poverty Headcount Ratios, Regional Classification -- 2.4 Income Distribution by Decile -- 2.5 Per Capita Income (Consumption) of the Bottom 40 Percent and the Total Population -- 2.6 Change in the Gap between Per Capita Consumption (Income) of the Bottom 40 Percent and the Overall Population between 2007 and 2014 -- 2.7 Rule of Law Index, Income-Level Classification -- 2.8 Government Effectiveness Index, Income-Level Classification -- 2.9 Correlation between Consumption and Real GDP, Income-Level Classification -- 2.10 Relative Value of Market Capitalization of Listed Companies, Ratio of OIC to Non-OIC Countries.

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