The theoretical foundation of Islamic economics and finance is based on, among other things, Homo Islamicus or Islamic Man. Islamic economics and finance theoreticians contrast Homo Islamicus with Homo economicus or the Economic Man. This paper examines whether or not Homo Islamicus is...

Financialization is an inescapable dimension of modern economic and financial system. However, if unchecked, it can constrain the real sector and the economy can experience significant negative impacts, which has become evident during the recent global financial crisis

Recent scandal involving manipulation of LIBOR has exposed some serious issues regarding ethics and business ethics education. This essay explores the relevant issues, especially as it might relate to Islamic finance

As part of Islamic finance industry, one of the areas that has become quite popular is Islamic wealth management (IWM). How IWM is distinguished from its conventional counterparts? How closely the current practices correspond with the maqasid of Islamic finance? This brief paper provides a brief...

The purpose of this paper is to provide a critical appraisal of the theme of zulm (injustice/exploitation) in light of the Islamic finance literature and the general attitude and approach of the Islamic finance industry and its advocates toward it.Based on an expanding theoretical and empirical...

The shortage of qualified Shariah practitioners (scholars) is a major challenge facing the Islamic finance industry, which relies on the high concentration of a few top scholars/practitioners for Shariah compliance assurance. A good number of the top practitioners have risen to prominence in the...

In the past half century Islamic economics was eclipsed by Islamic finance movement. Gradually Islamic economics has taken a back seat without any economy to back it up empirically. Although Islamic finance emerged as an offshoot of Islamic economics and with the blessing and advocacy from...

This is definitely a scholarly paper of sufficient originality. Before I offer my critique, let me summarize the paper and identify its core aspects. It argues that a financial system and its constituents “stand upon the assumptions of behavior, markets and institutions” of their respective...

The Muslim world is facing stagnation due to a lack of balance between two opposing forces: the force for continuity/stability and the force for change. This paper makes the case that these forces must be in balance for healthy, Islamic progress of the Muslim society. This paper analyzes the...

Islamic economics [IE] emerged with a new vision and aspiration of a better path to development. Unfortunately, IE has evolved mostly as an intellectual/academic shell, in which poverty eradication, except in rhetoric, is a peripheral concern.Gradually, IE was eclipsed by its offshoot, Islamic...