The 2008 Financial Crisis has compelled the international financial industry, politicians and homeowners to search their souls for the root causes of the problem. Many point to insufficient regulatory supervision, others to a culture addicted to credit and sheer greed. While these issues...

Collapse of the United States sub-prime mortgage market in late 2006 opened a new era for the world economy. After having an average growth rate of 4.3 percent for the period of 2004-2007, world growth rate was stuck to an average of 2.2 percent between 2008-2015. While developed countries try...

In this paper, we try to analyze the US residential mortgage crisis in the light of the financial principles of Shari'ah. For this purpose, we will firstly present a summery of the US residential mortgage crisis. Then, in the second part of the paper, we will explore relevant financial...

Almost three decades have passed since the founding of the first modern Islamic bank in the small Egyptian delta town of Mit Ghamr. Islamic banking has developed so remarkably in the last quarter century, that it is hard to believe that the movement is so young.The main expansion occurred in the...

Sukuk products offer a vast scope of innovation and a large potential for the growth of Islamic finance. Various structures of sukuk based on ijarah, musharakah, mudarbah and many hybrids such as sukuk based on the combination of ijarah with istisna[ or the combination ijarah with istisna[ and...