Observers of contemporary politics know that Islamic extremism presents ‘the West’ with a serious challenge of national and international security consequent to terrorist events of recent time. In addition to constabulary and military responses, there remains the more fundamental question about how to understand Islamist ideology and how counternarratives might be framed in the interest of law ...

This article explains the level of economic freedom in Muslim countries through the theory of institutional path dependency. Islamic countries are generally not free and they have a poor record regarding property rights. To explain these realities we use the institutional history of Muslim countries. We define three steps: the Arab and Ottoman Empires when Islamic law was of great importance, E...

This article explains the level of economic freedom in Muslim countries through the theory of institutional path dependency. Islamic countries are generally not free and they have a poor record regarding property rights. To explain these realities we use the institutional history of Muslim countries. We define three steps: the Arab and Ottoman Empires when Islamic law was of great importance, E...

Mumtaz Ahmad is professor in Hampton University’s Department of Political Science. A member of the American Academy of Arts and Sciences’ “Fundamentalism Project,” Dr. Ahmad has been a Research Fellow at the Brookings Institution, a Fellow of the American Institute of Pakistan Studies and the International Institute of Islamic Thought, a Fulbright Professor in Bangladesh and Pakistan, and a Vis...

This article explains the level of economic freedom in Muslim countries through the theory of institutional path dependency. Islamic countries are generally not free and they have a poor record regarding property rights. To explain these realities we use the institutional history of Muslim countries. We define three steps: the Arab and Ottoman Empires when Islamic law was of great importance, E...

This article explains the level of economic freedom in Muslim countries through the theory of institutional path dependency. Islamic countries are generally not free and they have a poor record regarding property rights. To explain these realities we use the institutional history of Muslim countries. We define three steps: the Arab and Ottoman Empires when Islamic law was of great importance, E...

This article is focused on some conditions in today’s world of globalized media, which are producing either an uncritical acquiescence or fright in Muslim societies as a result of the interaction between these societies and the contemporary Western powers that represent modernity and postmodernity on the global stage. The rise of fundamentalism, a tendency toward returning to the roots and stri...

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...

Islamic Finance is more than an asset class – it is a way of life lived by 1.6 billion Muslims around the world. But its reach goes even further – non-Islamic countries, governments, and businesses, have all invested in or issued Islamic securities for one reason or another. With the ongoing push of globalization of trade and finance, Islamic financial flows, long a localized phenomenon, have b...