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.
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.
This research study calculates potential Zakat proceeds collectible in Bangladesh by using both classical and contemporary or alternative Zakat calculation methods. The results reveal that the percentage of potential Zakat collectible amount to GDP is significant as the estimates range between 2.3% to as much as 3.8%.
International Islamic University of Malaysia (IIUM) was established according to the visions developed by prominent Islamic scholars Ismail al-Faruqi (Co-founder of the International Institute of Islamic Thought in Virginia [IIIT]), Abdul Hamid Abu Sulayman (Current Chairman of IIIT), and Syed Muhammad Naqib al-Attas (Founder of the International Institute of Islamic Thought & Civilization [ISTAC]), with the aim of linking what they call ‘revelation and heritage’ with social and human sciences.
Islamic Economics Project 