The Islamic response to the ever present need of home financing manifests itself predominantly in ‘Bai-Bithaman Ajil' (BBA) and ‘Musharakah Mutanaqisah' (MM) inter alia. They are both essentially structured concepts consisting of Murabahah in the case of BBA, and musharakah and Ijarah in the...

The United Kingdom is an indisputable hub for Islamic Finance in Europe while English common law is widely used for securitisations, including Islamic securitisations of which products are asset-backed securities called “Sukuk”. Thus, the question of whether the applicable EU law provides a...

The objective of this paper is to analyse determinants that influence implementation of Accounting Standards for Islamic Financial Institutions (IFIs) by examining the history of accounting standards and two different contexts as applied to IFIs in the United Kingdom and Indonesia. The paper...

This paper examines the hypothesis that ethical investment has inferior performance compared with their unscreened benchmarks. We empirically test whether returns earned by investors who purchase shares in the FTSE Global Islamic Index are significantly different from their index counterpart...

This paper aims at capturing the latest developments and growth of Islamic finance (IF) in the UK. The study also aims at shedding light on the driving factors that have been attributed to the rise of this phenomenon in this country. To meet these objectives, the paper utilizes historical and...