In the past half century Islamic economics was eclipsed by Islamic finance movement. Gradually Islamic economics has taken a back seat without any economy to back it up empirically. Although Islamic finance emerged as an offshoot of Islamic economics and with the blessing and advocacy from...

The economic approach to the study of human behavior has been presented by its foremost representative as the most effective method of studying social phenomena. Gary Becker's view supposes that, on the one hand, all social phenomena can be explained as a consequence of individual actions and,...

In the modern lexicon, money is pure instrumentality, a colorless medium that transparently expresses real value. Contrary to that trope, however, we can get “inside” money: we can reconnoiter it as a structure entailing value that is engineered by certain societies. Taking a...

This study tests the efficiency and profitability of banks that belongs to two different sectors:a) Islamic Banks (IBs) and b) Traditional Banks (TBs). The study concentrates on the pre and post 2008 financial crisis with an aim to test if there are any significant differences in performance...

The present study contributes with the preliminary plotting of the Brazilian production in Behavioral Finance (FC) defined by the events and periodic Brazilian Society of Finance (SBFIN), Postgraduation and Research Courses National Encounter in Administration (ENANPAD), Magazine of Contemporary...

There is a strong belief formed in scholarly and policy circles that contemporary capitalism is the source of many economic, social and political problems that plague the world today. This system is blamed for large inequalities between the rich and the poor, unrestrained profit-seeking without...

The purpose of this paper is to test the level of corporate governance in the Islamic Banks (IBs) sector with a focus on the Shariah Supervisory Board (SSB) performance. The main objective is to construct an Islamic Corporate Governance Index (ICGI) based on the Corporate Governance (CG)...

An essential condition in the orthodox definition of riba is stipulated excess in a loan or debt. This essential condition is traced to al-Jassas. Understanding this issue of stipulated excess is critical to understanding riba. In this paper the stipulated excess in connection with al-Jassas as...

Riba-Interest equation, where riba is blanketly equated with interest, is a major issue in Islamic economics and finance. To justify this equation, hadiths or prophetic narrations as one of the primary sources are invoked. Farooq wrote a paper "Riba, Interest and Six Hadiths: Do We Have a...