This study highlights the issues in the screening process of Sharīʿahcompliant stock universe from Sharīʿah and professional perspectives. We have critically analyzed Sharīʿah-compliance methodologies of selected (eight) institutions in the light of Islamic principles of business. The...

Purpose: This study aims to develop a Sharīʿah-compliance rating mechanism for the Islamic financial services industry (IFSI), with a special focus on banking. The banking sector is taken as the area of focus due to its leadership role in the volume of global Sharīʿah-compliant...

This article shows the existing state of newly emerging Islamic finance and its potential as a business opportunity. It identifies business opportunities in the area of banking, Insurance, Capital market including equities and Sukuk, International trade financing, Mudaraba sector, Islamic asset...

Islamic finance is a relatively new business segment, however, shown promising results so far. In addition to banking services, Islamic finance has started penetrating in other sectors including capital market and insurance. This study is conducted to evaluate a newly emerging Takaful sector in...

Salam is a sale agreement whereby seller receives the price in advance while goods are delivered at a future date. Salam is a valuable tool with IFIs to provide agricultural finance to large community of unserved/underserved farmers' world over, especially in less developed countries including...

With the application of regression with common effect this paper analyzed the empirical validity of two famous and formal theories (Trade off and Pecking order). We have selected four independent variables tangibility, size, profitability and growth and explored their relationships with the...

The efficient market hypothesis (EMH) suggests that stock prices fully reflect all available information in the market and no investor is able to earn excess return on the basis of some secretly held private, public or historical information. Efficient market hypothesis (EMH) can be further...

An overwhelming criticism on practice of Islamic finance is lesser application of Shari'a based (profit and loss sharing) modes of financing. This study is conducted to analyze the issue based upon available literature and data. It is found in the process that profit and loss sharing based modes...

This article covers Development of Islamic finance as a distinct financial stream. It includes religious foundations [Objectives of Shari'a and Injunctions on Riba/interest & usury], Historical developments [timeline], Principles [Riba prohibition, Gharar, Myser and PLS] and Operational modes...