كلية التجارة

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    أدوات الهندسة المالية الإسلامية ودورها في زيادة جودة الأرباح وتقليل مخاطر الإستثمار (دراسة تطبيقية على شركة السودان للخدمات المالية المحدودة)
    (جامعة النيلين, 2022) عمار عطا محجوب الطيب
    المستخلص هدفت هذه الدراسة الي التعرف علي ادوات الهندسة المالية الاسلامية ودورها في تقليل المخاطر وزيادة جودة الأرباح مع اختبار اثر تطبيق الهندسة المالية الإسلامية علي قرارات المستثمرين في البورصة السودانية، حيث تمثلت مشكلة الدراسة في التعرف على مختلف المنتجات والأدوات المالية المبتكرة من قبل الهندسة المالية الإسلامية وذلك من خلال التعرف علي مفهوم الهندسة المالية الإسلامية وإبراز دورها الأساسي في ابتكار وتطوير منتجات مالية تتلاءم مع الضوابط الشرعية، مما يجعل هذه المنتجات ترقى لأن تصبح نماذج قابلة للتعميم والتطبيق بالمؤسسات المالية الإسلامية، وبالتالي المساهمة في تحقيق أهداف هذه المؤسسات من المحافظة على استمرارية نموها وزيادة ربحيتها ،كما تم انتهاج المنهج الوصفي التحليلي لكونه ملائما لعرض المفاهيم المرتبطة الهندسة المالية الإسلامية ، مع الاستعانة بالمنهج المقارن لأننا بصدد إجراء مقارنة بين الهندسة المالية الإسلامية ونظيرتها التقليدية، وذلك في الفصلين الأول والثاني أما في الفصل الثالث فقد استخدمنا المنهج الاستقرائي الاستنباطي، لأننا بصدد توصيف وعرض نماذج لمنتجات الهندسة المالية الإسلامية مطبقة أو قابلة للتطبيق بالمؤسسات المالية الإسلامية، وأداة لتحليل الجداول، الأشكال والأرقام الخاصة بكل منتج أو نموذج، واستخلاص النتائج في الأخير. خلصت الدراسة الي مجوعة من النتائج أهمها التعامل بأدوات الهندسة المالية اقل كلفة من التعامل بالموجودات الأساسية كالأسهم والسندات، وتستطيع المؤسسات المالية والمصرفية والمستثمرين استخدام أدوات الهندسة المالية للتحوط من المخاطر المحتملة، كما تقلل أدوات الهندسة المالية من التكاليف وترفع من العوائد، وتوسع مجموعة بدائل التمويل والاستثمار المتاحة، وتقلل مخاطر الخسارة إذا ما أحسن إدارتها، ويضاف لذلك تدعم أدوات الهندسة المالية للخدمات التي تقدمها المؤسسات المالية والمصرفية لعملائها وتساهم في تنويع جودة الارباح المحاسبية، بناء علي تلك النتائج اوصت الدراسة علي زيادة الاهتمام بالهندسة المالية الإسلامية، باعتبارها أداة مناسبة لإيجاد منتجات وأدوات مالية مبتكرة تجمع بين المصداقية الشرعية والكفاءة الاقتصادية، ضرورة التعمق في تقنيات الهندسة المالية المتعلقة بإدارة المخاطر، وتطويرها بما يتناسب مع الأنشطة المصرفية الإسلامية ويقدم لها أدوات تعزز من تسارع وتيرة مسيرة نموها وازدهارها، ويعزز من الثقة بها على مستوى العالم كله ومن هنا فالهندسة المالية الإسلامية تعتبر الوسيلة الأنسب للمحافظة على استقرار المؤسسات المالية الإسلامية بصفة خاصة، واستقرار النظام المالي العالمي بصفة عامة. Abstract This study aimed to identify the tools of Islamic financial engineering and their role in reducing risks and increasing the quality of profits while testing the effect of applying Islamic financial engineering on the decisions of investors in the Sudanese Stock Exchange, where the study problem was to identify the various innovative financial products and tools by Islamic financial engineering and that from By getting to know the concept of Islamic financial engineering and highlighting its essential role in creating and developing financial products that are compatible with Shariah controls, which makes these products rise to become models that can be generalized and applied in Islamic financial institutions, and thus contribute to achieving the objectives of these institutions to maintain their continuity of growth and increase their profitability, The descriptive analytical approach was also adopted because it is appropriate to present the concepts related to Islamic financial engineering, with the help of the comparative approach, because we are going to make a comparison between Islamic financial engineering and its traditional counterpart, in the first and second chapters. For Islamic financial engineering products applied Or applicable to Islamic financial institutions, and a tool for analyzing tables, figures and figures for each product or model, and drawing conclusions at the end. The study concluded with a set of results, the most important of which is dealing with financial engineering tools that are less costly than dealing with basic assets such as stocks and bonds, and financial and banking institutions and investors can use financial engineering tools to hedge potential risks. available, and reduce the risk of loss if managed well, in addition to this, financial engineering tools support the services provided by financial and banking institutions to their customers and contribute to diversifying the quality of accounting profits. Innovative that combines legal credibility and economic efficiency, the need to delve into financial engineering techniques related to risk management, and develop them in proportion to Islamic banking activities and provide them with tools that enhance the acceleration of the pace of their growth and prosperity process, and enhance confidence in them worldwide. Hence, Islamic financial engineering is considered The most appropriate way to maintain the stability of the institution Islamic finance in particular, and the stability of the global financial system in general.
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    دورة التقارير الفترية في تسعير الأوراق المتداولة في الأسواق المالية (بالتطبيق على‌ سوق‌ الخرطوم للاوراق المالية )
    (جامعة النيلين, 2009) عمار عطا محجوب الطيب
    Abstract This research studies the role of periodical reports in pricing traded securities, in the financial . The periodical reports play important and prominent role in providing data and market in capital markets which reduce the cost of financial information for investors and others capitals movement and employment of the savings. The users of periodical financial reports depend completely on the information which provided by these reports for taking investments decisions in the traded securities which is a commodity which traded in the financial market and considered as its barebones. This confirms the role of periodical reports in traded securities price in the financial market and its importance as one of the main elements in the process of making investment decisions. To achieve these objectives, the research depends on the testing the following hypotheses correctness: -- 1 - There is a statistically significant relationship between periodical reports and the level of the securities prices in Khartoum securities market. 2 - accounting information published by financial periodical reports lead to the rationalization of investment decisions in traded securities in Khartoum financial market. 3 — As the quality and quantity of information available increased, as the efficiency of the Khartoum Stock Exchange increased. The research depend on the descriptive approach in which the researcher deals with the subject of the study in descriptive way covering all aspect related to securities. The researcher used this method in reviewing the history and development of Khartoum financial market. Also, he used the analytical approach in analyzing data, information and figures. In addition to above approaches, he used the inductive method to achieve some findings. The research included the application method in the analytical study in which the researcher tried to clearfy the importance investing in securities and ways of activating Khartoum stock Exchange. The researcher used questionnaire for collecting digital information. The researcher found the validity of the three hypotheses the most important result are:- the efficiency of capital market depends on information effectiveness and its impact -l on shares prices. There is a close relationship between the published periodical reports and the securities in the stock exchange. the financial market play an important role in economic development of the state and -2 in rising the living standard of citizens. J: The published financial information is the main Source of getting infonnation for -3 purpose of investing in the securities market. The accounting infonriation received in the market reflected immediately on the shares and the other securities prices. The declaration of the expected shares profits and the future cash flows in the -4 periodical financial report have additional information strength on companies prices which traded its securities in financial markets. The researcher has concluded with the following recommendations. There must be availability of necessary information (quantity and quality) which -1 enable the investor to know the all possible alternative. The market cfficiency achieve by the completed information about the trade securities and its price everything related with the exporting companies. Interacting and dealing with the foreign market, weather Arab or non Arab, So as to -2 benefit of their experiences in the shares field, laws and regulations, machineries and a lows investors to know the abroad investment opportunities. The government must establish investment banks and specialized foundations in the -3 financial field to protect the investors and encourage them to buy the non-perfonning stock which helps providing enough cash in the traded securities and also creates stability in supply and demand which led to revitalization of the financial market. The general contributed companies should distribute the profits regularly in order to -4 encourage the investors to invest their savings in the financial market. The study encourage the researcher to can"y out complementary studies. For example the role profits distribution to the shareholders attracting new investors and -1 stimulated financial market. Study of the impact of increase and decrease prices of crude oil in financial market -2 indicators in Arab world and Khartoum financial market.