Islamic Finance

It is legal adjustment, one among some key determintants, which affects the rapid or slow develpment of Islamic banking in a particular region. Though sometimes this is neglected in the beginning of the initiation of Islamic banking, but, in turn, it will significantly affect the long run of the progress of Islamic banking. Islamic banking is a new business entity which is very exceptional to its conventional counterpart. Therefore this needs specific treatment from the legal point of view. The spesicific treatment or may be called also as legal incentive is unavoidable in some aspects.

According to the financial press, firms with low leverage have lower distress risk due to their reduced exposure to the credit market, especially during credit crises. Compared to their conventional and socially responsible (SRI) counterparts, sharia compliant (SC) stocks are low-leverage stocks. Our hypothesis is that SC firms would be less sensitive to leverage risk and thus would be ideal for wealth preservation during declining market environment.

Since September 11, madrasas, Islamic schools, are often in the media but mostly for negative reasons. This paper, however, shows that madrasas are prominent providers of education in South Asia, especially for children with limited access to regular schools in

Starting from the fundamental principles, whether a designed contract implies a clean bay´ rather than ribā is central to our discussion. We argue that ribā and gharar may easily arise through neglect of risk or inappropriate valuation methods for value and risk of assets and financial instruments.

This study assessed the impact of spirituality and religiosity on economic performance of micro-entrepreneurs. To achieve this objective, this study distributed survey to 400 Muslim micro-entrepreneurs.

The research aims to develop a waqf-based model for application to

One of the major problems faced by micro and small scale entrepreneurs (MSE) is lack of financial access. The presence of Islamic microfinancing institution (IMI) is extremely important. IMI offers simpler administrative and requirement procedures as compared to the commercial banks. One of the IMIs that exist in Indonesia is Islamic cooperatives. This paper attempts to observe empirical role of Islamic cooperatives in the country by taking a case study of Kospin Jasa Syariah in Pekalongan city, Central Java.

Sustainability and entropy are concepts more than simply relating to environment and physical systems of energy dissipation, respectively. In the moral, social and co-integrated socio-scientific planes of human experience sustainability is essentially the positive action and response between the episteme of unity of knowledge and its social reconstruction of the unified world-system. Such a praxis of knowledge and experience lies at the core of the moral law of unity.