Based on the annual Human Development Reports of the UNDP, this paper finds that the main determinants of human resource development by the HDI for various economies are usually the level of per capita income, its rate of growth, expenditure on military, and the state of income distribution. It...

This paper deals with three basic issues in Islamic banking: First, how the profit sharing ratios in mudaraba contracts are in principle determined? Second, do the actual sharing ratios result in an equitable division of profit between the banks on the one hand and the depositors on the other?...

This paper attempts at identifying the contours of a new world order under a unilateral paradigm currently taking shape under the US dominance. Its impact on, and implications for, various countries are going to be different but ultimately none would remain unaffected – developed or developing...

This paper explains the notion of market in historical perspective and the role markets play in free enterprise economies. It lists the major market failures and the role governments are expected to play in regulating and supplementing markets including the promotion of CSR from Islamic...

This is a comment on a paper presented as a discussant of the paper presented at an International conference on Islamic banking and finance held in Bahrain in 2005.

Abstract. This paper deals with a still unresolved issue - credit creation and control- in an interest free banking system. The available literature on the subject is scanty, controversial and inconclusive. The paper holds that credit creation per se is not un-Islamic; the essential point is how...

This a critical evaluation of the book reviewed

The paper discusses three interconnected issues: Is the profit sharing between the Islamic banks and the depositors fair, can the profit sharing ratio between the banks and the borrowers on the one hand and between the banks and depositors on the other be identical in a two-tier mudaraba...

This paper clarifies some misinterpretations of three foundational concepts in mainstream economics from Islamic viewpoint. These are scarcity of resources, pursuit of self-interest and maximizing behavior of economic agents. It argues that stocks of resources that God has provided are...

Shelter is one of the basic needs for human beings. Its availability for the people is an Islamic imperative. In view of the appalling living conditions of a substantial proportion of the population in most countries around the world, especially Muslim, Islamic banks have entered the field with...