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Islamic Economics Project

RESEARCH ON ISLAMIC ECONOMICS AND FINANCE AND ROLE OF FAITH IN MARKETS AND SOCIETY IN POST MODERN SCIENTIFIC AGE

Is Conventional Mortgage Halal

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Conventional banks only provide loans no matter whether the loan amount is used for purchasing assets or not. As far as repayment of debt is considered in conventional finance lease or mortgage loans, the interest is due from the very first date of sanction of loan till the very last. If the asset remains unusable during the conventional finance lease, the instalments including interest and principal repayment will continue without any break. If interest amount is not paid on time, then interest has to be paid on accrued interest along with financial penalties. Compounded interest can multiply exponentially.

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Do Islamic Microfinance Institutions Affect the Socio-economic Development of the Beneficiaries

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This paper aims to investigate the effect of Islamic microfinance on poor households through the case of the IKSAR Qard al-Hasan Program in Turkey. It examined the changes in the socio-economic status of beneficiaries before and after the program. The study indicated that Islamic microfinance and qard al-hasan, which were combined in the IKSAR Qard al-Hasan Program, have direct and indirect positive effects on the borrowers.

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Highlights of Global Sustainable Development Report 2023

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This report is a call to accept transformations with the instantly needed to accelerate progress toward the Sustainable Development Goals. The last report was published in 2019 after that many challenges have arrived, progress has been restricted in many areas, partly as a consequence of a confluence of crises – the ongoing pandemic, rising inflation and the cost-of-living crisis, environmental and economic distress, along with regional and national unrest, conflicts, and natural disasters.

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How Diverse are Shariah Supervisory Boards of Islamic Banks?

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This study aims to examine diversity in the composition of Shariah supervisory boards (SSBs) of Islamic banks (IBs). It investigates diversity from two perspectives: existing composition of SSBs and the regulatory frameworks and standards of selected Organization of Islamic Cooperation countries. Diversity characteristics include education, nationality, gender and age.

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Dealing with Climate Challenge

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Because of mere fate, a lot of people in the world, including Pakistan, have ended up in a position where they bear the torment of heat without much to do about it. They can not operate air-conditioners even when the temperature flares up and beyond the 35℃. Many do not even have one. “A man has only a certain capacity for battling with fate’, said Wodehouse. Well! this capacity is amazingly high in some people. But, there is still a long waiting period.

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