This paper discusses the concept of Waqf and university endowments. The author highlights that contemporary university endowments take their inspiration from the concept of Waqf.
Re-Examination of Selected Waqf and Western University Endowments
Behavioral Assumptions of Islamic Economics Revisited
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.
Profit and Loss Sharing Two Tier Mudarabah
This paper mathematically analyzes the two-tier Mudarabah model in an exclusive Islamic financial environment and under dual banking system.
Mind the Gap: Theories in Islamic Accounting and Finance
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.
Role of Istihsan in Applying Maslahah in Islamic Finance
This paper identifies the role of Istihsan in Islamic finance that should be emphasized to strengthen the element of Shari’ah compliance.
Islamic Work Ethics as a Key Engine of Endogenous Economic Growth
This paper attempts to show how ethical piety can lead to endogenous growth through mathematical modelling.
Islamic Social Finance and Commercial Finance: A Marriage Made in Heaven
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.
Conceptual flaws in realizing Maqasid al-Shari’ah in Islamic Finance
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.
Islamic Finance Involvement in Supply Chain of Financed Assets
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.
Establishing Zakat on Oil and Gas in Malaysia
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.
Islamic Economics Project 