This paper examines the organizational forms of Islamic banks, corporate governance mechanism, and their effects on organizational behavior, specifically relating to managerial expense preferences. The paper opted for an OLS cluster regression and followed by a stochastic frontier approach test...

This article considers the development of sukuk as the mainstay element of the "debt" or finance side of the Islamic capital markets. The two general types of sukuk are described: whole-business securitization sukuk; and asset secrutization sukuk. Differences between the conventional...

Futures and forwards contracts are considered of the main derivatives contracts, which offer many services and benefits, namely risk management (hedging), and speculation. However, these contracts from the perspective of Islamic experts are varying and non-uniformed, where there are those who...

We examine the relationship between Islamic and conventional stock market returns to see if Islamic financial markets provide portfolio diversification benefits and safe havens during turbulent times. Using daily data from January 1996 through September 2020 we consider conventional emerging...

The prohibitions of ribā (interest) and trading in non-ḥalāl businesses in Islam redefines investment universe assumed by Capital Asset Pricing Model (CAPM). In Islamic investment world, risk-free asset and market portfolio with non-ḥalāl constituents are irrelevant. We propose...

The present paper looks into the question of whether it provides the investor diversification benefits to include sukuk (Islamic bonds) in their portfolio of bonds, and what these might be quantitatively. Analysed are sovereign bonds of Bahrain, Pakistan, Qatar, Malaysia, and the UAE. The...

Intuition suggests that constraint investment strategies will result in losses due to a limited portfolio allocation. Two types of constrained assets have been particularly growing over the last few decades: Islamic Mutual Funds and Socially Responsible Mutual Funds. Although research regarding...

The following working papers about Islamic Finance were written preliminary for another topic. They cover a few important basics to know and illustrate relations and products accordingly. Working paper 1: Islamic Finance – Objects and maturities in contractual relationsWorking paper 2: Islamic...