Microfinance schemes have been operational since the 1960s, however, they mostly involve conventional finance, whereas many low income Muslims would prefer to have shar¥cah compliant finance. The aim of this paper is to explore how microfinance can be provided on a shar¥cah compliant basis and...

A central thesis of this paper is that social science is the study of human experience, and hence strongly conditioned by history. Modern Western political, economic and social structures have emerged as a consequence of the repudiation of religion, and are based on secular principles. Many of...

Selected Papers Presented at an international seminar on Economic problems and the Teachings of the Qur'an organized by the Idarah Ulūm al-Qur'an held at Aligarh during 6-7 November 2010

Despite the Economic closeness of overall concept, Sukukization (Islamic Securitization) is not equal to “Securitization” as it is known in its conventional sense. Securitization, generally relates to the converting of loans of various sorts into marketable securities by packaging the loans...

The phenomenal growth of the Islamic banking and finance (IBF) industry has been remarkable since it came into existence just over thirty years ago. However, a closer reading of this positive development indicates that the IBF industry does not necessarily share the aspirations of Islamic...