Book Chapters

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.

The paper is an attempt to identify the continuities and discontinuities between the religious Islamic notion and practice of 

The power of biomedical technology lies not only in treating diseases and relieving pain, but also in intervening in our bodies at the molecular level in a way that makes us wonder if this is (re)shaping our very human nature. This technology raises ethical, philosophical and religious questions related to understanding and identifying our essential humanity, that which is “uniquely human” in us, and how far genetic interventions in our human bodies may affect all this.

When the Human Genome Project (HGP) took off in 1990, experts in the field were aware of the fact that this scientific megaproject would generate ethical questions and conundrums that should be taken seriously.2 So, an ethical arm for the HGP was established, namely the Ethical, Legal and Social Implications (ELSI) program. Five percent of the total HGP budget was dedicated to the ELSI program, making the project one of the largest-ever investments in bioethics research.

By the beginning of the twentieth century, it became clear that the ramifications of the breathtaking biomedical advancements and associated technologies will not remain within the confines of scientific and clinical practices. The complex questions and challenges raised by these advancements and technologies also necessitated profound ethical considerations.

This study examines the impact of globalization on cross-country inequality and poverty using a new comparable panel data for Organisation of Islamic Cooperation (OIC) and non-OIC developing countries over a long period, 1970–2008. The major findings of the study are that, first, a non-monotonic relationship between income distribution and level of economic development holds in both samples of countries. However, this relationship is comparatively stronger in the case of non-OIC countries.

For many years, microfinance (MF) was considered an appropriate tool to accomplish social and financial goals simultaneously. Over time, microfinance has become more commercialized, transforming into a financially efficient industry, allowing customers to have access to more sophisticated banking products (e.g. small housing loans). Despite interest from the commercial sector, the industry has yet to find a workable market-based solution to fund microfinance. Microfinance in the member states of the Organization of Islamic Cooperation (OIC) faces two challenges: 1.

Different institutions are engaged in the development efforts in Indonesia by appealing to different sectors of socio-economic life. Among such institutions, BMT (Baitul Maal wa Tamweel) and BPRS (Shariah People Credit Bank) are the main players of the shariah micro-finance institution in Indonesia. However, these two institutions are different in nature: whereas BMT is a shariah cooperative with only limited support, regulation and monitoring, BPRS is a bank which receives sufficient support, regulation and monitoring from the Central Bank.

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