Emphasizing risk averse nature of fund suppliers in an uncertain environment, this paper establishes the possibility of a riba-free Pareto optimality in a primary financial market, explaining real life dominance of the mixed debt/equity system in terms of deviation from informational efficiency....

Given the socioeconomic utility of a owning a house (being a consumption and investment asset at the same time), mortgage finance and markets has always remained a matter of interest for the policy maker. With the Global financial crisis claiming its roots in the subprime lending, wherein the...

The purpose of this study is to investigate whether religious prohibitions have a significant impact on the propensity to invest in foreign securities. We do this by exploring the effect of the Islamic prohibition of interest, which as we hypothesize, should impact the level of investment in...