Impact of investor sentiments on mean variance trade off with respect to Pakistani market has been investigated in this paper. Composite index for Investor Sentiments for Karachi stock exchange is developed. The six measures incorporated in the composite investor sentiment index are closed end...

Using deficit financing by increasing borrowing at lower interest rates has the potential to increase debt to levels that are not sustainable and can create further economic problems in the longer term. To understand the Islamic perspective on deficit financing, two features of government...

While conventional microfinance institutions (MFIs) have expanded their operations in the last two decades, poverty-focused MFIs based on Islamic principles are lagging behind. This paper provides the theoretical basis, operational framework, and empirical support for the establishment of...

A large literature contends that legal systems that adapt efficiently to meet the contracting needs of the economy foster financial sector development. The paper discusses the adaptability features of Islamic law related to commercial transactions (Islamic commercial law) in light of...

Risk management is central in operations of financial institutions, both from business and regulatory perspectives. Risk management is not only about identifying and mitigating risks, but involves a strong risk management system that includes establishing appropriate risk management environment,...

The aim of this paper is to examine the demand factors for microfinance services in Indonesia consisting of the understandings, perceptions and preferences of 581 micro finance institutions (MFIs) clients of four MFIs— two Islamic (BMT and BPRS) and two conventional (BRI and BPR). The results...

The Sustainable Development Goals, the global development agenda for 2015 through 2030, will require unprecedented mobilization of resources to support their implementation. Their predecessor, the Millennium Development Goals, focused on a limited number of concrete, global human development...

The primary objective of the study is to provide a comprehensive description of the contemporary Sharīʿah investment screening process and its implication on the practices of managing mutual funds. This will be done by critically reviewing the application of such screening criteria, from both...

Despite calls to expand and implement the concept of Maqāṣid al-Sharīʿah, it has been rarely utilized in economics and development studies. This paper fills this gap and proposes a framework to assess socio-economic development of Muslim societies based on the maqāṣid principles. It is...