The Islamic response to the ever present need of home financing manifests itself predominantly in ‘Bai-Bithaman Ajil' (BBA) and ‘Musharakah Mutanaqisah' (MM) inter alia. They are both essentially structured concepts consisting of Murabahah in the case of BBA, and musharakah and Ijarah in the...

The United Kingdom is an indisputable hub for Islamic Finance in Europe while English common law is widely used for securitisations, including Islamic securitisations of which products are asset-backed securities called “Sukuk”. Thus, the question of whether the applicable EU law provides a...

Islamic finance has become increasingly significant in financial centres in the West, notably London, despite the regulatory hurdles presented by operating in a nonMuslim financial environment. The growth of Islamic finance partly reflects demand from Muslim resident and non-resident clients for...

This paper examines the hypothesis that ethical investment has inferior performance compared with their unscreened benchmarks. We empirically test whether returns earned by investors who purchase shares in the FTSE Global Islamic Index are significantly different from their index counterpart...

This paper aims at capturing the latest developments and growth of Islamic finance (IF) in the UK. The study also aims at shedding light on the driving factors that have been attributed to the rise of this phenomenon in this country. To meet these objectives, the paper utilizes historical and...

One pride of Islamic boarding schools in Indonesia is related to their curriculum. Although Indonesian government through the Ministry of Religious Affairs has organized the curriculum for educational institutions, kitab kuning still exist as a part of curriculum used at Islamic Boarding...

This paper empirically investigates the difference of the performance between shari'ah-based and non shari'ah-based IPO firms. The sample made IPOs in the Jakarta Stock Exchange (JSX) between July 2001 and December 2005. The sample consists of 8 shari'ah-based and 37 non shari'ah-based IPO...

This work argues that the cause(s) of war in Islam is never the elimination or subjugation of infidelity or the bringing of the whole world under the supremacy of Islam; rather it is to defend Islam and Muslims from external attacks. This work shows that the evolutionary theory of warfare in...

Purpose: The purpose of this study is to look into the Shar¯ı‘ah resolution framework in Islamic finance and see how it may be improved. This paper is based on a detailed examination of previous research into the need for a worldwide Shar¯ı‘ah Resolution mechanism to be applied across...