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.
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.
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.
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.
Human behaviour, consumption and business activities have been identified as the main cause of the climate crisis the earth is facing at present, having seriously detrimental effects on the earth’s bio capacity to sustain life. These effects, referred to as anthropogenic impacts, are causing degradation of the globally shared public resource known as natural capital.
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.
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 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 attempts to show how ethical piety can lead to endogenous growth through mathematical modelling.
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 Economics Project 