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...

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...

Purpose – Having argued in the part I paper that the interest-based fiat monetary system is not compatible with the objectives of the Islamic law or the Shariah, this paper seeks to argue why commodity moneys, like the gold dinar and silver dirham, are compatible with the maqasid....

This paper deals with the problem of existence of Berge and Berge-Nash equilibria. Abalo and Kostreva have proved existence theorems of Berge and Berge-Nash equilibria for S-equi-well-posed and (S, [sigma])-equi-well-posed games, namely, Theorems 3.2-3.3 [Abalo, K.Y., Kostreva, M.M., 1996. Fixed...

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.

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.