The nature and pace of economic progress in a country depends, among others, on the venturesome qualities of its people. The development of entrepreneurship has, therefore, been taken as an important element in human development sphere in Malaysia. In fact, the Malaysian Government has...

This paper discusses three issues - worldview differences, revelation-reason relationship, and the question of methodology - important for Islamizing knowledge in the field of economics and presents also the outlines of an agenda for action. Western worldview separates the mundane from the...

This paper treats the emerging new world order not as a thing by itself but as a continuation of the age long gospel of laissez faire or freedom of trade. That freedom eventually resulted in the colonial exploitation of vast tracts of land by the European powers. The same desire to dominate the...

This paper attempts a broad appraisal of the literature on macro consumption function in Islamic economics. It starts with a brief look at the microelements of the concept and clears several cobwebs concerning wants and needs, scarcity of resources, the basket of goods, and the efficacy of...

This note explains the circumstances that created the recent economic turmoil in Dubai. It analyses the consequences of the bailout the government ultimately enforced. It questions the role rating agencies play in such crises and suggests regulation of their activities. Finally, it warns of...

This paper raises the issue of an initial structure-objective mismatch in the launching of Islamic finance. The abolition of interest and promotion of growth with equity were goals of the conceived system. These goals expressed a long run vision to improve the condition of the Muslim communities...

The paper discusses three interconnected issues: Is the profit sharing between the Islamic banks and the depositors fair, can the profit sharing ratio between the banks and the borrowers on the one hand and between the banks and depositors on the other be identical in a two-tier mudaraba...

This paper raises the issue of an initial structure-objective mismatch in the launching of Islamic finance. The abolition of interest and promotion of growth with equity were goals of the conceived system. These goals expressed a long run vision to improve the condition of the Muslim communities...

This paper raises the issue of an initial structure-objective mismatch in the launching of Islamic finance. The abolition of interest and promotion of growth with equity were goals of the conceived system. These goals expressed a long run vision to improve the condition of the Muslim communities...

This paper was one of the first writings that appeared on the subject and presented at a local conference while pending publication with the Indian Economic Journal.After a brief Introduction, Section 2 discusses broadly the process used for generating the data used for analysis as also the...