Islamic Finance

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THE EVOLUTION AND INTENSITY OF NON-TARIFF MEASURES ON IMPORTS IN GCC

Submitted by Munir on Tue, 01/25/2022 - 12:18
This study examines the effect of 1096 analyst recommendation revisions on prices of Shariah-compliant and Shariah non-compliant listed securities in Bursa Malaysia over the period 2005-2016. The study finds that while stocks added-to-buy had positive abnormal returns, the stocks added-to-sell and remove-from-buy had negative abnormal returns in short- and long-term horizons. This finding shows that analysts’ recommendation revisions carry valuable information.

Deferment of Both Counter Values in Financial Transactions; Maqasid Analysis and its Impacts on Money Exchanges

Submitted by Munir on Tue, 01/25/2022 - 11:49

Shariah texts forbid deferment of both counter values in the commutative transactions. However, it is obvious that contemporary juristic opinions abide by this prohibition without appreciating its Shariah objectives. This is evident as some of these opinions unjustifiably differentiate between similar applications, or they violate the prohibition by allowing stratagems that eventually lead to having both values deferred.

The Relevance of Shura In Promoting Shared Prosperity in Developed And Developing Countries: ICIS 2021

Submitted by Munir on Tue, 01/25/2022 - 11:49
The issue of greater inequalities and social exclusion reckoned to be the result of economic growth led the World Bank to set the new goal, to end extreme poverty and promote shared prosperity. Interestingly, the approach of the contemporary solution is largely in consonance with the maqasid or objectives of the Shari’ah.

Foreign trade, education, and innovative performance: A multilevel analysis

Submitted by Munir on Tue, 01/25/2022 - 11:49
This study analyses the innovative performance of 5,273 companies across 64 different economic sectors and 32 different regions in Colombia. We assess the effects of education and open economy variables on the innovative performance of firms by analyzing firm, sectoral, and regional level determinants. The study takes the multilevel approach of the innovation process considering the structure and behavior of innovation systems in developing countries.

The Ascent of Bitcoin: Bibliometric Analysis of Bitcoin Research

Submitted by Munir on Tue, 01/25/2022 - 09:50

Bitcoin, as the first decentralized cryptocurrency, pioneers the cryptocurrency markets, both in terms of market capitalization and scientific interest. In this paper, we performed a comprehensive bibliometric study of the Bitcoin-related literature. Using the Scopus database, we created a sample that comprises 4495 documents written in the 2011–2020 period.

CONSUMER PREFERENCES AND REGULATIONS IN CREDIT CARD MARKETS: EVIDENCE FROM TURKEY

Submitted by Munir on Tue, 01/25/2022 - 09:30
In this paper, we analyze the demand side of the credit card market. Using unique survey data and a discrete choice model, we uncover consumer preferences for all price and nonprice features of credit cards. Our results provide evidence for an alternative explanation for the credit card pricing puzzles. We show that consumers view credit cards as highly differentiated products with both bank-level and card-level nonprice features. When selecting their credit cards, they predominantly prioritize these nonprice features over prices.

Survival of the Fittest: A natural experiment from crypto exchanges

Submitted by Munir on Tue, 01/25/2022 - 09:30

This paper explores the applicability of universal cryptocurrency exchange by analyzing crypto exchanges of Binance, Latoken, Kucoin, and Qash, which also have their own cryptocurrencies in the crypto market. Results of the recursive Johansen cointegration test proved that even though all of the cryptocurrencies have cointegration among each other, Binance positively disassociated itself from others after it moved to Malta on 23 March 2018.

حكم التكسب بالشرط الجزائي

Submitted by Munir on Tue, 01/25/2022 - 09:04

The penalty clause has become very common in contracts and financial commitments recently, for reasons such as hedging against damages and the desire not to leave the damage assessment to the judiciary. The expanded use of such clauses and compensations has resulted in the possibility of using them to earn more than the actual amount of damage, which raises some Sharīʿah concerns.

The Experience and the Prospects of Islamic Finance in Kazakhstan

Submitted by Munir on Tue, 01/25/2022 - 09:04

This paper aims to take stock of the Islamic finance experience and aims to identify an approach for further development in Kazakhstan, using qualitative and quantitative assessments. Design/methodology/approach The paper presents a conceptual framework based on literature review and content analysis. Furthermore, the study uses a survey-based methodology to collect data and determine the prospects, challenges and possible remedies.

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