In the Western world, consumers complain about the soaring of non-interest bank fees during the recent years, the post global financial crisis in particular. Commercial banks charge a variety of non-interest fees for their transactions. This paper empirically tests whether the free charges are significantly different between conventional commercial banks and interest free Islamic banks. The ave...

There is a close relationship between word unification and second-order unification. This similarity has been exploited for instance for proving decidability of monadic second-order unification. Word unification can be easily decided by transformation rules (similar to the ones applied in higher-order unification procedures) when variables are restricted to occur at most twice. Hence a well-kno...

The rule of law entails government accountability, equal access to justice and the political process, efficient judicial and political systems, clear laws, generally stable laws, and the protection of fundamental human rights. This paper explores whether Islamic law conforms to these principles in theory and in practice. Three conclusions are reached. First, various early Islamic institutions w...

Muslims living in the Indonesian archipelago have long placed considerable importance on their travels to and communications with what they saw as intellectual centers for the study of Islam. I trace some of the effects of these “intellectual pilgrimages” to Mecca, Cairo, and elsewhere on Indonesian deliberations about Islam, particularly concerning Islamic law. I argue that these references to...

Islamic finance is a prohibition-driven industry, aiming to avoid the prohibitions of riba and gharar. It is well accepted in Islamic jurisprudence that riba and gharar do not affect the legal validity of non-commutative financial contracts (e.g. gifts). Jurists have long viewed this as a potential solution to the problem of gharar in commercial insurance, proposing mutual insurance as a non-co...

A. JAFARIAN1, P. GHADERI2, ALIREZA K. GOLMANKHANEH3, D. BALEANU4,5,6 1Department of Mathematics, Uremia Branch, Islamic Azan University, Uremia, Iran E-mail: [email protected] 2Department of Mathematics, Uremia Branch, Islamic Azan University, Uremia, Iran E-mail: [email protected] 3Department of Physics, Uremia Branch, Islamic Azan University, P.O.BOX 969, Uremia, Iran E-mail: alir...

this article analyses the effects of foreign exchange commitment and exchange rate unification policies on iran’s non-oil exports during the last three decades. in addition, the effects of these policies on non-oil exports have empirically been estimated. for this purpose, an export supply model was estimated using the econometrics technique of auto regressive distributed lag (ardl) and reliabl...

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...

We present a completion-based method for handling a new version of E-unification, called “mixed” E-unification, that is a combination of the classical “universal” E-unification and “rigid” E-unification. Rigid E-unification is an important method for handling equality in Gentzen-type first-order calculi, such as free-variable semantic tableaux or matings. The performance of provers using E-unif...