Purpose – The purpose of this paper is to show that fractional reserve banking (FRB) has implications for the ownership structure of assets in the economy that violates the Islamic principles of ownership. Design/methodology/approach – This is a theoretical paper that looks into the works of...

In this paper, we investigate the existence of Berge–Zhukovskii equilibrium in general normal form games. We characterize its existence via the existence of a symmetric Nash equilibrium of some n-person subgame derived of the initial game. The significance of the obtained results is...

The major focus of past literature on Al-Maq id was on developing the theory, and most of the discussion centered on its legal dimensions. The pioneering works emanated from scholars such as, Al-Juwayni (n.d), AlGhazali (1901), Al-Shatibi (n.d), Ibn ‘Ashur (1998) and Ibn Taymiyyah (alRaysuni,...

The major focus of past literature on Al-Maq id was on developing the theory, and most of the discussion centered on its legal dimensions. The pioneering works emanated from scholars such as, Al-Juwayni (n.d), AlGhazali (1901), Al-Shatibi (n.d), Ibn ‘Ashur (1998) and Ibn Taymiyyah (alRaysuni,...

In this paper, we give new sufficient conditions for the existence of a solution of theg-maximum equality. As a consequence, we prove a new fixed point theorem. We also prove a new theorem of existence of Nash equilibrium.

In this paper, we study the main properties of the strong Berge equilibrium which is also a Pareto efficient (SBPE) and the strong Nash equilibrium (SNE). We prove that any SBPE is also a SNE, we prove also existence theorem of SBPE based on the KyFan inequality. Finally, we also provide a...

Based on the notion of equilibrium of a coalition P relatively to a coalition K, of Berge, Zhukovskii has introduced Berge equilibrium as an alternative solution to Nash equilibrium for non cooperative games in normal form. The essential advantage of this equilibrium is that it does not require...

In this paper, we give new sufficient conditions for the existence of a solution of theg-maximum equality. As an application, we prove a new fixed point theorem.

Purpose – To reason whether the interest-based fiat monetary system is compatible with the objectives of the Islamic law or the Shariah. Design/methodology/approach – This is a theoretical paper that uses the quantity theory of money and the objectives or maqasid al-Shariah as expounded by...