The low level participation of the Islamic banks in mudharabah and musharakah financing models has become one of the problems in the development of the industry. This arrangements are unique to Islamic banking and account for its superiority over conventional banking on grounds of ethics and...

This paper uses logit, probit and discriminant analysis to test for structural differences between the financial characteristics of interest-free banks and conventional banks. The analysis extends to various financial dimensions which evaluate performance, namely: liquidity, leverage, credit...

Dr. Uzair's thinking on Islamic economics dates back to his student life at the Allahabad University in India where the present reviewer had the privilege of being associated with him, in a group of young men inspired by Maudoodi's writings advocating reconstruction of knowledge on Islamic...

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...

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...

Modern Muslim scholars prohibit riba or interest, but they prohibit it on the basis of wrong reasoning or interpretation of the texts. Their faulty reasoning has led to confusion and difficulties in the implementation of Islamic banking and finance. This paper points our that these scholars...