Bloomsbury Qatar Foundation Journals

The present paper studies differences in thoughts of first vs. second generation Islamic economists, during the past forty years. It also investigates deviations that occurred in thought and practice in this period. But first it attempts to determine the basis of differentiation between the two generations and their distinguishing features. For our study purpose, we regard as the first generation those scholars who started writing on the subject of Islamic economics between 1950 to 1975, a period highly unfriendly if not hostile to the idea of economics with Islamic perspective.

This study examines the impact of globalization on cross-country inequality and poverty using a new comparable panel data for Organisation of Islamic Cooperation (OIC) and non-OIC developing countries over a long period, 1970–2008. The major findings of the study are that, first, a non-monotonic relationship between income distribution and level of economic development holds in both samples of countries. However, this relationship is comparatively stronger in the case of non-OIC countries.

For many years, microfinance (MF) was considered an appropriate tool to accomplish social and financial goals simultaneously. Over time, microfinance has become more commercialized, transforming into a financially efficient industry, allowing customers to have access to more sophisticated banking products (e.g. small housing loans). Despite interest from the commercial sector, the industry has yet to find a workable market-based solution to fund microfinance. Microfinance in the member states of the Organization of Islamic Cooperation (OIC) faces two challenges: 1.

Different institutions are engaged in the development efforts in Indonesia by appealing to different sectors of socio-economic life. Among such institutions, BMT (Baitul Maal wa Tamweel) and BPRS (Shariah People Credit Bank) are the main players of the shariah micro-finance institution in Indonesia. However, these two institutions are different in nature: whereas BMT is a shariah cooperative with only limited support, regulation and monitoring, BPRS is a bank which receives sufficient support, regulation and monitoring from the Central Bank.

Financial health is crucial to the continuous existence and operation of any organisation. It is even more essential in the case of

The Masjid Council for Community Advancement (MACCA) provided

The rapid growth of Islamic finance after 2000 has led to a new question of its practice. Critics of the current situation of Islamic finance contend that the newly developed Islamic financial products are not compatible with the ideal of Islamic economics, because these products are approved at patchwork screenings by a Sharia advisory board. After the middle of the first decade of the twenty-first century, in order to overcome this situation, several new ideas were proposed by those who aspire to the ideal of Islamic economics.

In the past,