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A macroeconomic model for Malaysia for the period 1970-1985 has been developed. It estimates the effects of economic indicators on the product market, the labor market, and the financial sector. Also considered are the effects these indicators have on the consumption and investment functions of the Malaysian economy. The model can subsequently be restructured using critical Islamic macro-indicators, such as zaka expenditure and profit, an indicator that replaces interest. The macroeconomic results can be estimated using statistical interpretations within a Keynesian econometric framework.

An outline of the historical development of Islamic banking and a brief review of the pillars of Islamic economics are provided. The highlights of thinkers on Islamic banking that have been printed over the years regarding Islamic banking are recapped and mentioned. The particular area of interest in the world is

A survey conducted by the IMF analyzes the Islamic banking system as a whole. It closely examines the principles under which the system operates, such as profit-and-loss-sharing, and the impact of this system on the mobilization of savings, the allocation of scarce resources through banks, investments, and monetary policy. It also looks at the differences between interest and profit are different and the means of financial intermediation in an Islamic economy. An investment auctioning system is an alternative to profit-and-loss-sharing.

Professor Ahmed al-Naggar of the International Association of Islamic Banks gave an interview to Economic Outlook in which he discussed the basic principles of Islamic banking. He explained that money in

An Islamic economy operates under a certain ideology and has as its central relationship the one between the individual and the community. In order to understand the Islamic economy, one needs to understand some of

An international seminar attended by professionals from 17 Islamic countries, the United States, and the United Kingdom, was held in Cairo and dealt with

Following Pakistan's 1985 ban on the giving and taking of interest, foreign banks in Pakistan changed their behavior and are now mandated to declare profits every six months and share those profits with depositors instead of giving them pre-determined interest payments. The State Bank has issued a list of acceptable financial practices. Among these are