By Prof. Dr. Mohd. Ma’sum Billah ABSTRACT Majority of the countries of the world have debt-based economies with arrangement for transfer of risk. The third world countries are over head and ears in debt. To tide over this difficulty, it is proposed to introduce cooperative Micro Bond. The article gives a flow chart of the […]
By Dr. Muhammad Imran Ashraf Usmani ABSTRACT Islam is a complete code of life. It not only lays down rules for religious affairs but it also covers every aspect of human activities including economic matters. It not only bans riba and gharar but also all ancillary practices which under the subterfuge of trade may surreptitiously […]
By S. Orisankoko, K. K. Eletu ABSTRACT Islamic banking and financial services have been a mirage soon after Muslim Bank West Africa Ltd was forced out of operation. There were agitations though to have a re-introduction of this type of banking but political insincerity and lack of political will to embed its operation with legal […]
By Muhammad Ayub ABSTRACT Time value of money is not only an economic reality, but also accepted by Islam in a different paradigm from that of the interest based finance. Islamic allows one to keep in view the time of any credit transaction while pricing the assets and / or their usufruct, but not for […]
By Mubarak Oladosu ABSTRACT The notion that Islam offers a blueprint for a viable and vibrant society is well established in theory and history. However, the evolution of the economic dimension of the Islamic social order founded on interest-free economy into a globe-wide alternative ideological contender in political economics has a history that is less […]
By Dr. Anwar Ali Shah G. Syed, Munawwar Ali Kartio & Faiz M. Sheikh Abstract This research examines the attitudinal difference of Pakistani customers about Islamic banking services. Data were collected from 600 respondents by using stratified sampling technique. A structured questionnaire was constructed to collect the necessary data to answer the research questions as […]
By Sheila Nu Nu Htay, Wan Reena Zahirah Wan Rosli Shaharuddin, & Hanudin Amin Abstract Risk is part and parcel of our daily life and we have been trying to find out the way to protect ourselves in the case of misfortune. That is the reason why insurance came to play an important role in […]
By Prof. Dr. Zubair Hasan Abstract The Musharakah Mutanaqisah Partnership model or the MMP is fast gaining popularity in Islamic home financing, for jurists and the bankers both validate it as a totally interest free structure. We have exploded the myth of that validation in our earlier writings and reinforce our argument here . But […]
By Salman Ahmed Shaikh Abstract Islamic finance is a set of financial institutions representing a connected financial architecture that works based on prescribed Shari’ah principles. Growth in the industry has been stellar, but, certain principles, the strategic direction and the practices do not warrant celebration yet. This paper while noting the impressive performance of Islamic […]
By Mobolaji Hakeem Ishola Abstract The recent global financial crisis has once again lent credence to the financial instability hypothesis which argues that financial market in the world is inherently unstable. This instability is however worsened by heedless ethical standard in the industry. A salient feature of the financial sector is its contagious effect, thus […]
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