a r t i c l e i n f o The Dow Jones Islamic Market indices (DJIMI) are constructed by screening out stocks that are incompatible with Islam's prohibition of interest and certain lines of business. However, as a blunt instrument, the interest rate can affect discounted cash flows of any firm, even a firm with no financial leverage. This study reveals that the aggregate portfolio of Islamic stock...

This paper investigates the question of whether the phenomenon of Islamic finance who based on Shariah, or Islamic law is truly globalizing and spreading as a universal system of finance and banking. The paper also addresses various aspects of the globalization for Islamic finance, among other, the issue of the rise of Islamic banking in the world, Islamic jurisprudence and finance, global stan...

Animal treatment has a comprehensive connotation and far-reaching implications in Islamic civilization. The rationes leges for this broader meaning human-animal relations are the principles laid out two foundational sources of Islam, i.e., Qurʾān Sunnah Prophet Muḥammad. While dealing with subject animals, different disciplines carried framework drawn these to more abstract level,thereby becomi...