Islamic Finance

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

With the help of favourable macroeconomic conditions during the last two decades, the

On the deposit side, Islamic banks work on a mudaraba (partnership) contract, where depositor and the bank are business partners.

Since their inception in the mid-1980s, Islamic banks (IBs) or participation banks (PBs) have not yet become one of the primary aspects of the Turkish financial system. Given the developments in other regions such as South East Asia and the Gulf, the market share of the IB sector has been minute, only attaining the level of five percent in the Turkish financial system.

This paper provides a comprehensive discussion on the gold investment, its operation and contemporary applications in the context of Malaysia. This paper follows qualitative or descriptive research method, relating to the shariah compliance issues in relation to the status of Malaysia as a country that practices a dual financial system. Gold investment in Malaysia offers a rewarding and secure asset class for investors through two different ways, physical gold or gold account “paper gold”.

Evidence has been mounting that the interest-based debt financing regime is under increasing distress. Evidence also suggests that the financial crises, whatever title they carried - exchange rate crisis or banking crisis – have been debt crises in essence. At present, data suggest that the debt-to-GDP ratio of the richest members of the G-20 is expected to reach 120% mark by 2014. There is also evidence that out of securities worth US$ 200 trillion in the global economy, no less than three-fourth represents interest-based debt.

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.

In the past,

Islamic banking and finance is now considered as part of the global financial system by taking up important role in economic growth in many countries in which it operates. 1983 marked the emergence of Islamic banking in Turkey with first Islamic bank of Special Finance House set up in 1985. Currently, there are four Islamic banks or Participation Banks (PB) operating in the country having about 4% share in Turkey’s financial system.