The purpose of this research study is to explore and analyze the factors that will favour or constrain the introduction of an Islamic Retail bank in a Muslim-minority country such as Mauritius.
This study aims to explore the potentials of adopting salam-based crowdfunding for financing the agricultural sector in Afghanistan.
This paper aims to explore the opinions and recommendations of various experts on the integrated cash
Purpose: The present study aims to examine the effects of the Islamic sacred months, namely, Muḥarram, Rajab, Dhu al-Qaʿdah and Dhu al-Ḥijjah, on stock prices on the Iran and Iraq Stock Exchanges. Design/methodology/approach: Using the infrastructure models of the capital market, the daily stock prices were calculated for the sacred and non-sacred months. As the data of this study are non-stationary, the AMIRA time-series model was used for better understanding of the model or future projections.
The purpose of this paper is to analyze the practice of contra trading in Bursa Malaysia Securities Berhad. Through a critical examination of the practice, it aims to discuss the issues from the angles of Sharīʿah and Malaysian common law. The paper uses a qualitative research methodology. The information on the practice of contra trading is obtained through the Bursa Malaysia Securities Berhad’s website and literature as well as series of meetings and discussions held with Bursa Malaysia Securities Berhad.
Purpose: This paper aims to ascertain the SharÄ«Ê¿ah (Islamic law) stance on the imposition of goods and services tax (GST) on tabarruÊ¿-based takÄful (donation-based Islamic insurance) products in Malaysia. The paper aims to do so by analysing the philosophy, purposes and structure of GST on takÄful products and comparing the imposition of GST on tabarruÊ¿-based takÄful with its imposition on conventional insurance while probing into the SharÄ«Ê¿ah texts and opinions of classical and contemporary scholars about taxation in
Purpose: This paper aims to examine the implications of compensation on late payment of takÄful benefit imposed in the Islamic Financial Services Act 2013 on the takÄful industry in Malaysia. It also aims to identify the issues and challenges faced by takÄful operators in the implementation of the compensation and propose solutions for the benefits of the takÄful industry.
Purpose: The purpose of this study is to present a framework regarding the use of Sharīʿah non-compliant assets as rahn (pledge) and to provide the Sharīʿah analysis on the application of numerous collateral instruments, including financial assets such as shares, unit trusts, current accounts and investment accounts which are Sharīʿah non-compliant.
Purpose: The purpose of this paper is to elucidate the concept of á¸amÄn al-milkiyyah (ownership risk) and to assess its application in contemporary Islamic financial products and services. Design/methodology/approach: The methodology adopted is that of descriptive research. Findings: From an Islamic law of contract perspective, the concept of á¸amÄn al-milkiyyah is central to legitimate profit-making transactions and hence must be adhered to in practical applications of Islamic finance.
Purpose: This paper aims to provide an economic rationale for Islamic finance. Design/methodology/approach: Its methodology is simple. It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance. A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided.