It is commonly observed that the current methodology of product development in Islamic finance has failed to reflect the productive nature of Islamic economics. This is evidenced by a number of current products being substantially indistinguishable from their conventional counterparts according to the commonly-held views.
Many residents of the Middle East - and more recently, Western powers - have placed great hope in democratization in the region. Yet authoritarianism remains the norm and movement towards democracy is both slow and uneven. The Struggle over Democracy in the Middle East examines democracy and democratization in the light of regional realities rather than the wishful thinking of outsiders.
The theme of this editorial is inspired by the passing of a dear friend, Sulayman Nyang, whose life epitomized the nexus between scholarship and social engagement. Dr. Nyang’s life and career follows a long-held Islamic tradition stretching over a millennium. I would like to begin my reflections by citing the tradition of social engagement and social responsibility within Islamic scholarship, and then briefly examine how that tradition was upheld by Dr. Nyang and offer a synopsis of his thoughts and actions. © Author
The money supply is considered a major factor in tampering with financial and economic stability. The international experience of liberal monetary systems has shown that the increase in money supply through credit creation plays the most serious role in disrupting financial and economic stability. That was particularly true in the most disruptive crises of 1929 and 2008.
This volume offers a series of studies, written by a leading scholar in the field, on the changing relations between secular modernity,
Contemporary Islamic Finance is seen by many as operating in the 'push' mode, with incumbent players pushing their version of products in the market, rather than working in a 'pull' mode, where society's requirements would drive industry evolution. The Islamic finance industry has been criticized because the profit aspect of running operations overshadows the altruistic aspect of Islamic Finance (IF) and easily marketable solutions are more common than socially relevant products to benefit the wider communities.