Islamic banks underlie the fundamental principles of the Shari’ah, which encompass all business activities, financial contracts, and transactions. The Shari’ah Supervisory Board (SSB) monitors and certifies compliancy and is unique to the governance structure of Islamic banks compared to their Western counterparts. This study addresses the question of how the compositional characteristics of th...

Islamic banks face restrictions in refinancing due to the guidelines of the Shari ́ah prohibiting financial contracts and transactions based on interest, gambling and speculation as same as due to the lack of liquidity sources such as an interbank market, a lender of last resort or an asset market. This is the first study with empirical cross-country results focusing on liquidity transformation ...

Recently there has been a heightened global concern over ‘contagion’ in the conventional financial markets. Our study is motivated by the desire to test empirically whether this contagion is reflected in the fast growing Islamic financial markets as well. This study is the first attempt at testing whether there has been any contagion among the Shari’ah-compliant stock markets during the most re...

This paper investigates the performance of Malaysian Islamic banking sector during the period of 2001-2005. Several efficiency estimates of individual banks are evaluated using non-parametric Data Envelopment Analysis (DEA). Two different approaches have been employed to differentiate how efficiency scores vary with changes in inputs and outputs. To examine the impact of risk factor on Islamic ...

Assisted reproductive technology is widely practised around the world for the treatment of virtually all forms of infertility. The application of this technology in the Islamic world had been delayed for many years, based on the misconception that Islamic teachings do not approve assisted reproduction. The paper discusses derivation of Islamic rulings and its impact on the ethics of contemporar...

VI.-VII. (XII.-XIII.) yüzy?llar aras?nda M?s?r, Suriye Hicaz Yemen ve Anadolu’da hüküm süren Eyyûbî devleti, Haçl?lar’? ma?lup edip Kudüs’ü özgürle?tirerek ?slâm tarihinde sayg?n bir yer edinmi?tir. ?lim kültür alan?na verdi?i desteklerle ad?ndan söz ettirmi?, f?k?h önemli katk?larda bulunmu?tur. Her ne kadar Eyyûbîler öncesinde bölgede e?itim-ö?retiminin mevcudiyeti biliniyor olsa da döneminde...

The impact of foreign banks entry on the banking sector has been well documented in the literature. However, these studies have been confined to the conventional banking sector. On the other hand, virtually nothing has been published in respect to the impact of foreign banks entry on the Islamic banking sector. The purpose of the present paper is to provide new empirical evidence on the impact ...

Describing the Islamic financial system simply as 'interest-free' does not do justice to the system. Promotion of entrepreneurship, preservation of property rights, transparency and the sanctity of contractual obligations, which are crucial to any sound financial system, describe its essence. Today, Islamic financial and banking activities have reached an impressive size of over US$250bn, as co...