Purpose – To apply the Tawhidi epistemology in the automobile industry as the paradigm of the Islamic socio-scientific order in terms of its inherent knowledge-centered worldview. Design/methodology/approach – The concepts of unity and unification of knowledge in a system-wide sense are...

Purpose – Theological perspectives in ethics, values and their functional application in the real world are vividly covered by the theory and practice of Islamic banking in recent times. This paper seeks to formalize the theological paradigm of the unity of God (Tawhid) and to make the...

The concept of knowledge in the knowledge-based new economy is critically examined in the light of its inability to offer human lives with greater well-being. The other forms of new attention economy are shown to have appeared as challenges to the capitalist globalisation raised under the banner...

Purpose – The purpose of this paper is to address the following question: how do we derive a systemic understanding of community, business and microenterprise linkages in the light of the cardinal episteme of Islamic belief, Tawhid? Design/methodology/approach – The worldview of unity of the...

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...

The theme of micro-foundation of economic theory has not been adequately addressed. This is true even of those who pioneered the area of micro-foundation of macro-economics. The great missing link in economic theory, both of micro-economics and macro-economics, is the inability to...

A critique of Islamic economics and finance is launched against the backdrop of what otherwise is essentially the epistemological understanding of all theories and application relating to human volition. The epistemological principle is that of Unity of Divine Knowledge, which in the Quran is...

Purpose – To address the much heated debate now raging in the international scene, namely between Islam and the West as two great civilization forces of mankind. Design/methodology/approach – The objective is achieved by studying it in the light of rigorous analysis involving the...

The well-known modes of raising and mobilizing venture capital in Islam known as mudarabah and musharakah (m&m) in Islamic economics are critically examined. In the form as m&m presently exist, they are pointed out to be pre-Islamic financing instruments that came into usage in the Islamic...

Purpose – The paper aims to offer a new perspective on the strictly microeconomic nature of all of Islamic economics. Writers in this field continue to work in the mainstream tradition without noticing the micro-interface of the theoretical nature of Islamic economics. This paper aims to...