Islamic Banking is growing at a rapid speed and has showed unprecedented growth and expansion in last two decades in spite of mismatching of existing financial framework and business practices. By the end of 2008 volume of Islamic banking has reached to US $ 951 Billion with operation in more than 50 countries. Middle East is the centre of Islamic banking with contribution of approximately 80% ...

There is considerable debate on the meaning of Islamic Medicine, and its relationship to other medical doctrines, especially Western medicine. Previous definitions of Islamic Medicine affirm that it is any practice of medicine which does not contradict the basic tenets of the Islamic doctrine. In this article the author suggests that Islamic Medicine should adhere to the theoretical and philoso...

Adherence to the recommendations and obligations of Islam is of great importance in achieving a desirable lifestyle. Fasting in the holy month of Ramadan is one of the main principles of Islam, in which Muslims refrain from eating, drinking, oral medications, and smoking from Fajr (pre-dawn) to Maghrib (sunset). Islamic rules dictate that fasting is unacceptable if it causes harm to the health ...

Paul Power’s new book, Intent in Islamic Law, is a challenging and welcome addition to contemporary scholarship on Islamic law and comparative law. Powers examines the way in which the classical Islamic jurists thought about motive, how they thought motive could be identified, and how they thought an actor’s “intent” affected the “legality” of his actions. To accomplish his task, Powers compare...

Four options for assigning a meaning to Islamic Logic are surveyed including a new proposal for an option named Real Islamic Logic (RIL). That approach to Islamic Logic should serve modern Islamic objectives in a way comparable to the functionality of Islamic Finance. The prospective role of RIL is analyzed from several perspectives: (i) parallel distributed systems design, (ii) reception by a ...

Islamic banking is currently one of the fastest growing segments of the financial market industry, operating in over 75 countries through 300 institutions. While past literature has established the development of financial institutions as a determinant of economic growth, research on the correlation of the diffusion of Islamic banking with economic growth is limited. This study seeks to add to ...

The re-evaluation of the scientific method at the 20th marked the inductive method as the scientific reasoning. In the contemporary science, the falsifiability plays an important role. Particularly, the science is considered to be a collection of proposition which describe the observational realities which can be falsify throughout the empirical experiments. Economics as a contemporary science ...

Evidence has shown that Islamic banking is experiencing tremendous development since the last three decades, especially in Malaysia. This study is aimed at investigating factors thatdetermine the Islamic banking performance in Malaysia, particularly in the period of 2006 to 2010. The predictors are loan loss provision to total assets, net loans to total assets, total overhead cost to total asse...

The aim of this paper is to evaluate the nature and changes of market concentration in the Malaysia’s Islamic banking due to the restructuring of Islamic banking industry within the liberalization wave in the banking market. A total of 17 Islamic banks operating over the period of 2000-2010 had been considered. The structural approach framework was used to evaluate the nature and changes of mar...