By Sudais Asif Abstract This paper takes into view the conditions that render an investment or transaction haram in Islam and relates them to cryptocurrencies through a literature research methodology. Furthermore, elements that exist in the cryptocurrency ecosystem such as tokens, initial coin offerings (ICOs) and cryptocurrency derivatives are assessed to check as to whether […]
By Mohd Ma’Sum Billah, PhD Abstract: Any activity be it a trade or manufacturing or service from viewpoint of Halal (legitimate) gain or income generation, should be in total compliance with the integrated Divine principles of Shari’ah (and that is; law, morality and cooperation with utmost care, share and concern with holistic universal character for the […]
By Junaid Qadir Abstract: The concept of development and progress ultimately depends on the belief and value systems of the human population at large. In neoclassical economics, development is defined and measured narrowly in terms of economic growth only. This is in stark contrast with Islamic notions of human development. In the Islamic worldview, human life […]
By Dr. Salman Ahmed Shaikh Abstract The last five human generations have pushed planetary boundaries through the unprecedented burning of fossil fuels, rapid deforestation, contamination of seas and which has caused arise in temperature, frequent heat waves, floods, melting of glaciers and enormous loss of marine and tropical forest species. In this paper, we discuss the […]
By Bukhari M. S. Sillah Abstract This paper reviews the comparisons between asset-backed and asset-based Sukuk using a number of criteria including Islamic contract principles and return types. Based on contract principle, asset-based Sukuk are found to account for 62% of global Sukuk and asset-backed 19%. Based on return type criterion, asset-based Sukuk constitute 98% of […]
By Zubair Hasan Abstract In my latest article on Islamic home financing models in the ISRA Journal, June 2013,I had shown that the Zubair Diminishing Balance Model (ZDBM) does not involve compounding of return and the transfer of ownership to the customer perfectly matches the payments’ rate; the two norms of Islamic models must meet. It […]
By Malik Shahzad Shabbir & Tasmia Matloob Abstract This paper proposes viable Shariah based alternate solutions to the privatization dilemma. Instead of privatization through outright sale of national assets, equivalent funds can be raised through long term Shariah structures without alienating national assets permanently. This will help safeguard public welfare and be in line with Maqsaid […]
By Mohd Ma’Sum Billah, PhD Abstract Sukuk, is the Shari’ah alternative to the bond practiced in the modern capital market. It had been significantly expanded for the last more than a decade by attracting both Muslim and non-Muslim participants with promising results thus, placing it to occupy more than 70% of the total Islamic financial market […]
By Abdelghani ECHCHABI and Dhekra AZOUZI Abstract The objective of this study is to highlight the current industry and research state of Islamic finance in North Africa, a region that has been late in applying Islamic finance. The study focuses on document analysis, in the form of library research (literature review). The reviewed literature revealed that […]
By Abdullah Ludeen Abstract Conventional theories have identified several factors which motivated the savers to save in conventional banks, but conceptually Islamic banks are different from their conventional counterparts. This study makes an attempt to empirically investigate whether the determinants of deposit in Islamic banks are significantly different from its conventional counterpart or otherwise. The ARDL […]
