By Uzair Ashraf Usmani Abstract: With the growing use of financial services in international trade, the importance of bill discounting is not beyond comprehension. It is undoubtedly one of the most important tools of trade financing. Now, it has become very easy for importers and exporters to sale any product to a complete stranger anywhere […]
By Ghada Gomaa A. Mohamed, PhD, PDF Abstract This paper makes a comparison between the Islamic bonds “Sukuk” and the conventional bonds within a classical theoretical framework. The paper uses the simple open economic version of the Solow model as a classical model to show the possibility of adopting Islamic bonds within a secular economy […]
By Muhammad Fayyaz, Muhammad Subtain Raza Abstract Money laundering and terrorist financing are global threats for global economy, security and society. Islam is not just a religion; it is a comprehensive system that includes all aspects of human life. Islamic law cannot be separated from its moral, ethical and religious principles. This paper is an […]
By Maher Kababji Abstract Fallacies are the root of the technique of thinking in economics. By the lapse of time theses fallacies have been blindly accepted as if they represent a part of the natural life which people have to live with. The outcome is that present economic systems failed to realize prosperity. This […]
By Prof. Mohd Ma’Sum Billah, PhD Abstract The state of being wealthy is highly desired by people, regardless of religion, races or nationality. Islam, not being left behind, also encourages its followers to seek for wealth, but in doing so, it is compulsory to ensure that any activities concerning wealth creation must be aligned with […]
By Professor Badr El Din A. Ibrahim Abstract The purpose of this paper is to review and compare the distinct features and practices of Sudanese and Ethiopian microfinance sector. Analysis includes general characteristics of both sectors such as institutional structures/ characteristics, policies, programs, regulation, strategies, wholesale markets, technical assistance etc. Moreover, the major characteristics of […]
By Mufutau Ayinla Abdul-Yakeen, Nasir Mukhtar Gatawa (Ph.D), Prof. Chika Umar Aliyu (Ph.D), and Prof. Mohammed Olanrewaju Ibrahim (Ph.D) Abstract The study empirically investigates the Level of Compliance of Members of Rotating Savings and Credit Associations (ROSCAS) in Ilorin Metropolis with Islamic Principles of Financing (IPF). Muslims are mandated to enter Islam completely (Q2:208). A […]
By Salman Ahmed Shaikh Abstract In this paper, we revisit the design of interest free house finance. First, we discuss the current practice in conventional banking and Islamic banking. Then, we discuss an alternate design for interest free house finance. The proposal we present attempts to analyze the implication of using market based rent setting […]
By Muhammad Iman Sastra Mihajat Abstract As an alternative to conventional interest-based leasing structure, Islamic finance has come with Musharakah Mutanaqisah (MMQ) mode of contract that is currently in existence. The MMQ is a form of a musharakah (partnership) in which one partner promises to buy the equity share of the other partner gradually until […]
By Mr. Mahfoud DJEBBAR Abstract The past two decades have witnessed phenomenal growth of the Islamic financial services industry. The whole industry has been thriving at about 15 percent per annum. This development brings a challenge to the Islamic financial engineering (IFE), which is lagging behind its conventional counterpart. Therefore, in order to achieve its […]
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