Islam places the highest emphasis on ethical values in all aspects of human life. In Islam, ethics governs all aspects of life. Ethical norms and moral codes discernible from the verses of the Qur’an and the Hadith are numerous, far reaching and comprehensive. Islamic business ethics is essential for SME industry. The challenge of Islamic business ethics is to make that inevitable ethical decis...

The purpose of this empirical study is to analyze and compare the performance of Islamic and conventional banking in Pakistan and to find out which of the banking stream is performing better than other. For this study, sample of 22 conventional banks and 5 Islamic banks were selected. For in-depth understanding and sound comparison, key performance indicators were divided into external and inte...

Whilst E-Commerce is spreading world-wide, many Muslims are wondering whether this new form of commerce is acceptable from the Syariah (Islamic Law) point of view. Thus, this research paper is meant to study the Islamic perspectives in e-commerce, particularly in its transaction, as well as the rights of the producers and customers. Issues on the legality of E-Commerce in Islam are examined to ...

Islamic banking is a growing phenomenon which came into existence to satisfy the nan-cial needs of devout Muslims who observe the prohibition of interest-based transactions. Many economists have studied the macroeconomic properties of this institution in the framework of an isolated and ideal Islamic economy. In this age of integrated global nancial markets, the instantaneous transformation of ...

Introduction It is submitted that accepting Islamic Banking within the western regulatory framework has encountered many impediments. A conventional bank is an institution that holds a banking license issued by banks' regulatory authorities which authorizes the chartered institution to conduct fundamental banking services such as receiving deposits, making loans, providing and saving account se...

Conventional credit card transactions are not consistent with Islamic principles, as exemplified by the Islamic banking system and the ‘Murabaha sale’. Thus, if Islamic principles are to be applied to e-commerce, where credit card transactions are the norm, a new and secure electronic payment process is required. In this paper we present a method for secure electronic Murabaha transactions. Aft...

No doubt life in its all forms enjoys a very high status in Islam. Human life is one of the most sacred creatures of God. Therefore, it must be appreciated, respected and protected. In this regard, the paper refers to different parts. The first part studies the value of life in Islam. It helps to understand why life must be appreciated and respected. The second part sheds some light on the natu...

This study is aimed at examining the long run and short run relationships between both Islamic and conventional financial development with the economic growth in the Bahrain dual financial system. Using quarterly data (2000:1-2010:4) retrieved from Monthly Statistical Bulletin of Central bank of Bahrain (CBB) and International Financial Statistics (IFS) of International Monetary Funds (IMF), th...

Contemporary research on investment behaviour in Islamic perspective, most of the time, finds it expedient to assume zero rate of time preference in an Islamic economy. The author argues that there is no justification for that. According to him, there is nothing against positive time preference or against realizing a time value of money in an Islamic framework, as long as time value of money is...