There is a vast literature on regulatory, monetary and institutional aspects of traditional banking system. This is not true for the interest-free Islamic banking framework. In this paper, the functions and tools of central banking in an Islamic framework are evaluated, and suggestions for...

This paper investigate conditions under which equity funds can be sustainable source of budget deficit financing in an interest free economy. Our findings show equity fund can be sustainable source of deficit financing when the rate of return on equity fund exceeds the budget deficit expansion...

Theoretical Studies in Islamic Banking and Finance represents the work of six economists, five of whom are associated with international banking; the editors, Drs. Mohsin Saeed Khan and Abbas Mirakhor, themselves being employees of the International Monetary Fund. The whole enterprise has been...

The book is made up of an introduction, a conclusion and eight chapters. The first chapter deals with the historical development of Islamic banking. The second chapter discusses the prohibition of riba in the Qur'an, Sunnah and Islamic law (fiqh). Chapter three deals with the modern...

This paper is aimed at studying the role of interest rates and bank size along with other macroeconomic and firm-level factors in determining the Islamic bank's profitability. We also explored the intricate complementarities of these two factors in the relationship between Profitability and...