Islamic Economics & Finance

The success of the $1 trillion Islamic finance industry is attracting the attention of regulators. But can standard rules apply, or are special regulations required? Oonagh Leighton reports
With Islamic finance and banking emerging as one of the fastest growing sectors within global financial services, and financial centres in both the developed and developing worlds […]

Sukuk is the Arabic name for a financial certificate but can be seen as an Islamic equivalent of bond. However, fixed income, interest bearing bonds are not permissible in Islam, hence Sukuk are securities that comply with the Islamic law and its investment principles, which prohibits the charging, or paying of interest.
The Need for Tangible […]

Rodney Wilson - Islamic banking has become a substantial industry over the last four decades. It’s central component: the avoidance of interest. Does its emergence segregate Muslims from Western values and norms, creating a financial ghetto?
I contend that as increasing numbers of people in the West become dissatisfied or skeptical about the banking services they […]

Feeding the frenzy
by Alexandra Dubsky
Latest figures show that 134 companies in the Gulf are preparing for stock market listings. But is it the best way to raise cash? And just how big can the rewards be? Alexandra Dubsky finds out.Sir Richard Branson did it. The British computer tycoon Sir Alan Sugar did it twice. And […]

By Md. Ekramullahil Kafi
Economy occupies a large part of our life. We cannot pass even a day without undertaking any economic activity, whatever it is. Even eating three times a day or sleeping for a while comes within the purview of economics. As for example- why do we eat? We eat to survive. Why do […]

By: Shabir Handoo
Islamic Banking is not a Utopia anymore as was thought to be. When scholars first talked about this idea in the 1940’s, people in the West laughed at the idea of Banking without Interest. It was inconceivable at that time since most of the Muslim countries were reeling under colonial rule; as such […]

A Basic Guide to Contemporary Islamic Banking and Finance
By Mahmoud Amin El-Gamal 
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By Nimrod Raphaeli**
Introduction  
The last two decades have seen a mushrooming of Islamic banks - institutions practicing a banking system - Islamic banking–which is consistent with shari’a (Islamic law) and guided by Islamic economics. The heart of the system is the prohibition of collecting riba (interest or usury). The argument against riba is that money […]