Dr. Nienhaus has with a straightforward analytical method sought to provide an insight into the functioning of Islamic banks (using PLS as the only financial instrument) in competition with interest-based banks. While the lucidity of the analysis is laudable, I have some reservations about the...

The main distinction between the predominantly secular-oriented societies from the more Islamically inclined is eschatological. Faith and the ever prevailing consciousness of the Hereafter could change social behaviour. Certainly, the distinctions commonly drawn in Islamic economics literature...