This study explores the need for developing socially responsible investment criteria in Islamic finance. There is global attention given to environmental sustainability.
Islamic Sustainable and Responsible Investment Criteria
Highlights of IFSB Report 2023
The IFSB’s Islamic Financial Services Industry (IFSI) Stability Report 2023 presents an assessment of the key vulnerabilities, resilience, and future outlook of the global IFSI in general and in the IFSB member jurisdictions in particular across three key segments: Islamic banking, Islamic capital market and Takaful.
How Diverse are Shariah Supervisory Boards of Islamic Banks?
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.
Dealing with Climate Challenge
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.
A Commentary on Divine Economics
Contemporary economics considers rationality only in the context of this world without any regard to the life after death. Nonetheless, more than 90% of the people in the world are associated with any of the different religions and in most divine religions, there is concept of afterlife. The common definition of rationality would not describe their behavior as rational. This would be a violation of the basic assumption that economic agents are rational.
Critical Analysis of Conceptual Background of Shariah Governance for Islamic Banking and Finance
This paper highlights the importance and role of Shariah governance in regulating the practice of Islamic banking and keeping it standardized and stable with the trust of key stakeholders.
Examining the Role of Microfinance: A Creating Shared Value Perspective
This study examines the role of microfinance from the business and social lenses by using the creating shared value (CSV) framework in the context of Indonesia.
Sukuk in Islamic Capital Markets
Sukuk is the plural of “Sak”, which means: “document or certificate”. During the period of Marwan Bin Huqam, the certificate issued to people to get rations from the Treasury were called “Sukuk”. But, the modern meaning of Sukuk is different. In contemporary Islamic finance terms, Sukuk means:
Economics of Boycott
Boycotts are more effective when boycotting consumers make up a large market segment, have substitutes and when consumers can boycott for long.
Paradox: Trade-off Between Shari’ah Compliance and Price Competitiveness
Shari’ah compliance in Islamic banking is necessary. However, achieving that requires certain additional operations and costs which may lead to Islamic banks incurring some additional costs which conventional banks simply avoid. This may make Islamic banks to become costlier than conventional banks and which will reflect in weak position in price competitiveness.
Islamic Economics Project 