When it comes to the status of working women in the Middle East, there seem to be two perspectives. The first group, the optimists, holds the “nothing is particularly wrong” thesis. They acknowledge that things may have not been going well for working women, but assert that their situation...

Purpose - This paper aims to examine the effects of interest-free and interest-based monetary policy on inflation and unemployment rates for two groups of countries where in one group, interest-free monetary policy (IFMP) was pursued, while in the other group, interest-based monetary policy...

Purpose The purpose of this paper is to propose a model of the Islamic sovereign wealth funds (ISWFs) based on Islamic finance principles to modify the precarious image of SWFs from Muslim countries. The Shariah laws are the cardinal direction for this study. Design/methodology/approach The...

The study investigates the tail-risk spillover between the markets for sukuk and conventional bonds across fifteen countries between 2016 and 2023. First, we estimate a time varying parameter-value at risk (TVP-VAR)-based frequency connectedness model to measure the total, short-, and long-term...

Using a new panel cointegration test that considers serial correlation and cross-section dependence on a mixed and heterogenous sample of Saudi banks, we revisit the cointegrating equation of the z-score index of banking stability. Our results show that even when we consider the cross-section...

The purpose of this paper is to analyze whether the practice of Islamic microfinance serves maqāsid al-shari'a (underlying intents of Islamic law) or not. The paper uses a qualitative methodology. Using the literature, five key factors of maqāsid al-shari'a pertaining to an Islamic economy and...