By ZakaAbdurahman & HuudShittu Ph.D Abstract Recently, the Central Bank of Nigeria embarked on provisions for the proper establishment and operation of Islamic (Interest free) banking. This paper examines the viability of promoting Islamic banking in Nigeria and its implications on human capital development. This paper reveals various opportunities for Nigeria in promoting Islamic banking such […]
By Muhammad Zeeshan Farrukh Abstract Due to the consistent failure of conventional economics and finance in achieving economic goals, the need for an alternate system is being felt at every level in the world. Being Muslims, we believe that Islam is a complete code of life and presents the complete and ideal lifestyle and socio-economic system […]
By Ruslan Sabirzyanov, Muhamad Abduh Abstract: Despite the tremendous growth shown by global Islamic financial services industry, there are Muslim minority countries that have not embraced Islamic finance yet and Russian Federation is one of them. This research is aimed at investigating the people patronizing behavior towards Islamic financial services in the Republic of Tatarstan, the Russian […]
By Mohammed Mahmoud Mantai Abstract The purpose of this paper is to examine previous studies on the wider access to collateral-free financing in the context of Islamic micro-finance and entrepreneurs through the contracts of trust (Mudarabah and Musharakh) as well as assessing the role of the Waqf institution funds in their facilitation. We find that majority […]
By Farrukh Habib & Mughees Shaukat Abstract The perception of donation (‘Tabarru’) is one of the basic elements in most of the composition of Takaful models. It intends not only to facilitate the modern Takaful structures from an Islamic law perspective, as it immunizes these structures from prohibited factors; but also to promote the noble concept of […]
By Muhamad Nadratuzzaman Hosen, Zahra Rosa Amalia, Syafaat Muhari Abstract One of the financial performance measurements of banks is to look at level of efficiency and this has been a concern of Financial Service Authority (FSA) of Indonesia. The level of efficiency is not only important for conventional banks but also important for Islamic banks to enable expansion […]
By Akeem Kolawole Odeduntan & Tajudeen Adetokunbo Oni Abstract The emphasis of Islamic finance has been continually laid on public interest which is believed to have had long lasting positive impact not only on socio-economic wellbeing but also on day-to-day affairs. The present paper seeks to bring to light institutions Islam puts in place to strengthen […]
By Mohd Ma’Sum Billah, PhD, Dr. Faisal Mahmoud Atabani Abstract Foreign exchange (FOREX) market is not a new phenomenon in the applied economic environment, which acts as a centre for facilitating legitimate currency conversion from one to another in standard and acceptable value. In a FOREX market, buyers and sellers trade (exchange) one currency with […]
By Shamim Saleem Abstract Microfinance has been identified as an important policy instrument that allows greater financial and social independence for poor and destitute by facilitating access to financial services for rural class. Microfinance institutions (MFIs) have mostly high concentration on providing self financing that generally is for women beneficiaries and aim at alleviation of […]
By Muhammad Zeeshan Farrukh Abstract The proper collection and effective distribution of zakat in an appropriate manner is one of the biggest challenges of the present day Muslim world. Zakat might be the very important source of revenue for the Muslim states particularly for the poor Muslim states. This paper elaborates the commandments of Almighty […]
