In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...

More than 200 Islamic financial institutions (IFIs) operate in 48 countries. Their combined assets exceed $200 billion, with an annual growth rate between 12 percent and 15 percent. The regulatory regime governing IFIs varies significantly across countries. A number of international...

Small asset size of Islamic financial institutions (IFIs) is often cited as an obstacle for further growth. Looking at the motivating factors behind consolidation wave in conventional financial markets, this paper argues that IFIs can also benefit from consolidation in several ways. Expanding...

This publication provides a comprehensive overview of topics related to the assessment, analysis, and management of various types of risks in the field of Islamic banking. It is an attempt to provide a high-level framework (aimed at non-specialist executives) attuned to the current realities of...

Frontmatter -- Preface -- Contents -- Chapter 1: On the Logical Character and Coherence of Islamic Economics -- Chapter 2: Consilience as Islamic Methodology of Tawhid: The General Socio-Scientific Framework -- Chapter 3: Economics for a Better Future -- Chapter 4: Game-Theoretic Investigation...

There is a worldwide growing effort to reforming and privatizing banking systems. The main motivation behind such trend has been that public ownership of banks tends to be associated with financial repression, poorly developed banking system, higher interest rate spreads, slower financial...

Sound Estimates of equilibrium exchange rate have become a cornerstone for any country that adopts an outward oriented macroeconomic management policy. This paper attempts to construct an index for Egypt's Equilibrium Real Exchange Rate (ERER) for the period 1970-2001 so that misalignment...

This paper attempts to shed some light on the problems and prospects of trade liberalization in financial services for selected Arab countries. The paper starts by considering the background of GATT and the case for trade liberalization. It then highlights the case of the Uruguay Round with...