This paper highlights the contemporary issues related to credit risk in Islamic banking and Takaful (insurance). These two areas of the Islamic finance are facing several challenges that need to be highlighted. Both are witnessing a global and regional increase in demand and have bright future. In order to secure proper growth, it is essential to adopt proper strategies regarding credit risk ma...

Shiraz (Islamic Republic of Iran): Islamic World Science Citation Center in Shiraz in collaboration with ISESCO hosted the First International meeting of Research Journal Editors at ISC campus on October 23-24th 2012. It was attended by a select gathering of Research Journal Editors in different subjects from many Islamic countries including Malaysia, Iraq, Egypt, Pakistan, and Bangladesh besid...

Islamic economists preoccupation with the deductive approach needs being moderated by a greater recourse to induction, especially in discussing the role of values in the economic system. Values have played an important role in the Christian West in the past, not withstanding the current advocacy of moral relativism. Every social decision implies a value judgment. Values permeate the contemporar...

After the 2007-2008 subprime financial crisis considering bankruptcy evaluation for the banking industry becomes vital. In line of that, this study aims to analyze the bankruptcy profile of foreign versus domestic Islamic banks operating in Malaysia. This study predicted 40% and 75% bankruptcy in the subjected samples of foreign and domestic Islamic banks of Malaysia respectively. However, the ...

Can the modern economy function without a market for interestbased credit? This question has acquired some urgency in the wake of the recent Shariat Court ruling banning interest in Pakistan. Some pundits have pronounced that great harm will result from the banning of interest. Actually, such pronouncements are based on a lack of understanding of both the modern economic system, as well as the ...

Purpose – This study attempts to examine the relationship between service quality perception and customers’ satisfaction in Malaysian Islamic banking using the SEM approach. Design/methodology/approach – This model starts with SERVQUAL measurement scales consisting of six dimensional structures: tangibles, reliability, responsiveness, assurance, and empathy, and plus the compliance dimensions t...

in any political system, recognition of constitutional keywords is an important pathway for understanding constitutional system desirably. the recognition matters increasingly, when a keyword is rooted in constitutional system&aposs; ideological bases and its underlying political theory. ummah, a term with religious and islamic theme, has come from religious literature into the constitution of ...

I has approximately 1.5 billion followers worldwide, the majority of which live in the Islamic states, and an appreciable number live in non-Islamic states.1,2 In both environments, the Muslims maintain a “Code of Life”, in which they adhere to the instructions of Islam and respect it’s guidance in their daily living. Islam provides a “Code of Conduct” drawn from Al-Sharea’h, also known as the ...

Islamic building codes require mosques to face Mecca. The further Islam spreads, the more apt are believers to fall into a quandary. X faces Y only when the front of X is closer to Y than any other side of X. So the front of the mosque should be oriented along a shortest path to Mecca. Which way is that? Does the path to Mecca tunnel through the earth? Or does the path follow the surface of the...