In this paper, authors opine that Islamic economics literature exclusively attributes pure altruism to Muslims. It contrasts homo economicus with homo-Islamicus. Authors try to show through empirical evidence that giving behaviour is not much different among Muslims and non-Muslim in Europe.
This paper mathematically analyzes the two-tier Mudarabah model in an exclusive Islamic financial environment and under dual banking system.
This paper investigates whether contemporary literature published in top ranked journals use classical theories or the works of classical scholars in the area of Islamic economics, Islamic accounting and finance and Islamic business management or not.
This paper identifies the role of Istihsan in Islamic finance that should be emphasized to strengthen the element of Shari’ah compliance.
This paper attempts to show how ethical piety can lead to endogenous growth through mathematical modelling.
This paper aims to explore different forms and models of integration between Islamic commercial finance and social finance including the problem that arise as well as the solution of each of the models to promote inclusive economic growth.
This paper discusses the application of Maqasid-e-Shari’ah in Islamic finance discourses and attempts to clarify some misconceptions. The paper also recommends formulating a framework of actualizing Maqasid-e-Shari’ah in Islamic finance.
This paper is a novel attempt to analyze the involvement of Islamic financial institutions in supply chain of financed assets. It argues that since Islamic bank has to have ownership and possession of the asset besides undertaking risk of the asset in trade and lease contracts, Islamic bank has to engage more intently in supply chain than the conventional bank.
The purpose of this paper is to deliberate on the establishment of Zakat on oil and gas in Malaysia. Similar to gold and silver, oil and gas are valuable minerals, which, upon extraction, should be subject to Zakat payment. In Malaysia, however, this is not the case. The authors argue that Zakat calculation for oil and gas can involve Nisāb adjustment, but not the Hawl (the requirement for one full Islamic year of ownership for the assets), by analogy with Zakat on agricultural produce.
In this paper, the author explains that the origin of current environmental crisis can be traced back to industrial revolution. While industrialization provided many benefits, the greed and avarice in human beings need conditioning through morality and values.
Islamic Economics Project 