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.
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.
| This paper aims to discuss the methodology of mainstream Islamic economics and also gives an alternative approach which is yet not very much taught in the different academic institutions, i.e. Tawhidi methodology. From the curriculum of the different academic institutions and also from the literature, it is observed that mainstream Islamic economics is the imitation of the conventional economics and mainly neoclassical economics. |
This paper studies the dynamic network connectedness between cryptocurrency returns and sentiments using the novel cryptocurrency-specific MarketPsych sentiment data for 13 cryptocurrencies with the highest market capitalization.
This paper investigates the impact of different country-traits of the effects of macroprudential policies on systemic risks in OECD countries. The analysis documents that institutional quality, high capital stringency, and moderate supervision support macroprudential policies in mitigating systemic risks, depending on macroprudential instruments in force.
| There is a strong theoretical foundation that demonstrates costs of switching as one of the main barriers in creating a healthy level of competition. |
Financial intermediation is the core of the banking business, as its role is to mediate between the owners of surplus funds and those in need of finance, sharing the generated profit with the funds' owners. However, financial intermediation does involve some economic risks in terms of concentration of debt in financial institutions and the possibility of the inability of financed clients to repay their debts. When this happens, financial crises are inevitable, as it occurred in 2008.
The book encompasses a comprehensive overview of the historical evolution of Shari’ah governance in Islamic Finance, the current practices, and the prospects of Shari’ah governance in the future. The chapters of the books are contributed by Shari’ah scholars, Islamic economists, regulators, practitioners, policymakers, and academicians from different parts of the world.
The purpose of this study is to examine the academic polemics, stakeholder perceptions and publishing prospects for Islamic economics and finance (IEF) research. This study adopts both quantitative and qualitative methods with a view to understanding the aforementioned aspects of published IEF research. The main part of the study constitutes searching through selected databases to identify leading journals and publishing outlets for IEF research.