Islamic finance and its adherence to the core objectives of Sharī‘ah (maqāṣid) has been a controversial issue for some time. However, this debate has intensified in the last few years. Two particular issues have been widely argued. These are the overuse of debt-based instruments by Islamic...

Pasar Malam (Night bazar) and Pasar Paghi (Morning bazar) are grassroots microenterprises in Malaysia and Indonesia. They combine traditional approach with the scope of modernizing to develop beyond restrained bounds. This chapter recognizes the potential for further organized ways of developing...

Pasar Malam (Night bazar) and Pasar Paghi (Morning bazar) are grassroots microenterprises in Malaysia and Indonesia. They combine traditional approach with the scope of modernizing to develop beyond restrained bounds. This chapter recognizes the potential for further organized ways of developing...

The existence of asymmetric information in insurance markets has been studied extensively in the economics literature, whereas the factors likely to influence asymmetric information have had less attention. Using individual level insurance data from a Takaful health insurance company located in...

Muslims in Bangladesh follow the liberal Sunni Hanafi School (“followers of opinion” or ashab al-ra’y), possibly because of its focus on logic and reasoning, and adoption of urf (local customs), and adat (customary laws). The country has been served long with a mosque-imam-oriented (not...

This paper focuses on exploring the functions of education and the concept of knowledge in Islam. The importance of human intelligence compared to artificial intelligence and the importance of language in education is also discussed. This paper further examined phenomena, true concepts, the...

While Islamic bonds play a growing role for firms located in emerging economies, the pricing of their risk by investors remains unexplored. We investigate the impact of credit ratings on Islamic bonds’ yield-at-issuance and compare it to conventional bonds. Analysing 1,560 Islamic bonds issued...

Purpose - This paper aims to determine whether Islamic banks (IBs) and conventional banks (CBs) in Tunisia are distinguishable from one another based on financial characteristics during the 2005-2014 period covering the 2008 global financial crisis (GFC) and the 2011 Tunisian revolution....

Although many papers have examined the Saudi stock market, to date none have explored the influence of religiosity on the behavior of stock prices, taking into account the dominance of individual investors. These characteristics distinguish the Saudi stock market from other mature and immature...