Explains how the adoption of Islamic law (Shariah) theoretically affects a political economy, why it requires the abolition of interest rates as a price for money and how this is achieved. Takes Saudi Arabia as an example of a Muslim country governed by Shariah and investigates how far it...

Asserts that the world needs to integrate economic issues with social demands and discusses ideas on the unity of knowledge (including Islamic theories). Develops a string model of the process of unification as seen by the Koran and applies it to the Islamic financing division of a Saudi Arabian...

Purpose – The purpose of this paper is to formalize a general equilibrium circular causation relationship model in the Islamic economic framework between wealth tax (Zakat), Islamic bank and the real economy. Design/methodology/approach – Mathematical modeling along with explanation....

The objective in this paper is to show that a generalised theory of development financing in Islamic context assumes a detailed general equilibrium approach to the solution of the following interrelated problems: The objective criterion of Islamic development co‐operation is recognised as the...

Post‐Cold War world is a bastion of economists, strategists and cold calculators. It is a world of vehement competition and mergers in the name of economic integration and the rise of market power, from the cradle to the grave. While the belligerence of world‐wide military conflict recedes,...

Purpose -The purpose of this paper is to formalize a general equilibrium circular causation relationship model in the Islamic economic framework between wealth tax (Zakat), Islamic bank and the real economy. Design/methodology/approach - Mathematical modeling along with explanation. Findings...