Articles

The linear economic approach described as the "take, make, dispose of" model where the bulk of the material used to make products is ultimately thrown away is recognized as a contributor to the natural resource constraints faced by humanity. Responding to this problem requires an economic paradigm of "reduce, reuse and recycle" conceptualized as Circular Economy(CE). The paper explores ways Islamic finance can support circular businesses within OIC countries to achieve economic growth that is not at the expense of the environment.

This paper aims to present an account and discussion of Imam Ali’s view on poverty and socio-economic justice based on examining Nahj al-Balagha, a tenth century collection of sermons and letters of Imam Ali Ibn Abutalib. The concept of socio-economic justice is of utmost importance in Islamic teachings. In Imam Ali’s view, socially just outcomes can only be achieved through just means and procedures. Second, acute and visible inequalities and side-by-side co-existence of extreme wealth and poverty in a society point to the existence of socio-economic injustices.

Alongside its detrimental macroeconomics impacts, financial crises can have substantial negative consequences on human and social wellbeing. Employing a cross-country dataset on more than 100 banking and/or currency crises during 1981–2007, this work examines the effects of financial crises on indicators of human and social wellbeing.

There is substantial evidence that the development of the discipline of Islamic Economics is currently in crisis. In this article, we argue that the main reason for this is that most

The paper aims to highlight the challenges facing Islamic finance industry and outline the prospectus of what constitutes a sound Islamic banking product in terms of both its Shariah control and product development methodology. The paper analytically addresses the internal challenges facing Islamic finance industry by highlighting, first, the deficiencies in the existing Shariah supervisory work and, then, the deficiencies in the product development methodology followed in Islamic banks. Islamic banking and finance is facing some internal challenges which require immediate action.

This paper aims to enhance the impact of incorporated

This paper investigates the predictive power of global geopolitical risks (GPR) index on daily returns and price volatility of Bitcoin over the period July 18, 2010–May 31, 2018. Considering Bayesian Graphical Structural Vector Autoregressive (BSGVAR) technique, we find that GPR has a predictive power on both returns and volatility of Bitcoin. The results of the Ordinary Least Squares (OLS) estimations show that price volatility and returns of Bitcoin are positively and negatively related to the GPR, respectively.