Arguably the Islamic finance system has become an accepted phenomenon in the international financial system. The recent unprecedented rapid growth of Islamic financial system is gradually changing the status of the Islamic banking system as an alternative to the conventional counterpart to a...

Islamic finance is a set of financial institutions representing a connected financial architecture that works based on prescribed Shari’ah principles. Growth in the industry has been stellar, but, certain principles, the strategic direction and the practices do not warrant celebration yet....

Islamic banking in Pakistan has completed one decade of operations in Pakistan and now there are 5 full-fledged Islamic banks and more than 15 conventional banks with Islamic banking windows. Due to the consistent double digit growth in total assets, the market share had steadily risen to 7% by...

Why is the Islamic world, once the centre the medieval world, now lagging so far behind? The importance of the topic has attracted economic historians trying to explain this dramatic story of economic decline. Among the various explanations those provided by Kuran concerning the alleged rigidity...

Although, Islamic law has been in existence for more than fourteen hundred years, but its implementation have been subjected to the willingness of the rulers in the passage of history and civilization. Although, the study on financial contracts has been extensively reviewed, the role of Islamic...

This is a critical evaluation of the book entitled The Long Divergence:How Islamic Law Held Back the Middle East by Timur Kuran.

This paper analyses the demographic, socio-economics and banking specific determinants that influence the risk of fraud in a portfolio of credit cards. The data are from recent account archives for cards issued throughout Italy. A logit framework is employed that incorporates cards at a risk of...