Purpose: This study aims to describe the role of knowledge diffusion in evolving governance principles for Islamic banking. Design/methodology/approach: This study develops a discursive theoretical debate using the discourse analysis method on the Sharīʿah principles related to interest...

Purpose: This paper aims to conceptualize the nexus between the participatory finance and the higher ethical objectives within the Islamic moral economy, also termed as Maqasid al Shari’ah. Design/methodology/approach: Insights from the extant Islamic economics and finance literature are...

The participatory modes of Islamic financing including Musharakah and Mudarabah are widely accepted as the ideal modes of financing among the jurists of Islamic banking and finance. However, paradoxically, these are not the most popular modes of financing in practice. The practice of the...

The last decade witnessed the popularity and appreciation of microfinance practices, against poverty alleviation, all across developing and underdeveloped countries. However, there is still deficiency of rigorous studies, to affirm the claims of microfinance products and services against the...

Appropriation of development goals is important for the effective socio-economic policy making. This paper presents a discursive and analytical account of the literature on maqasid al-Shari'ah and Islamic Moral Economy (IME) to draw conclusions on what goals should the policy makers prioritise...

This research paper provides in-depth discourse on how justice can be operationalised in different Islamic financial institutions to achieve the objectives of the Islamic moral economy. The current financial institutions claiming to be Shari'ah compliant are more and more reflecting the...

This case study presents a narrative of how mur¯abah. ah, a sale-based Islamic mode of financing, applies in the banking routine to create a real working capital finance service to a construction company. The construction company was looking to finance diesel, bitumen, and petrol to be used as...

This case study presents a narrative of how murābaḥah, a sale-based Islamic mode of financing, applies in the banking routine to create a real working capital finance service to a construction company. The construction company was looking to finance diesel, bitumen, and petrol to be used as...