Muslim-majority countries do not use formal financial services (Honohon 2007).1 Even when financial services are available, some people view conventional products as incompatible with the financial principles set forth in Islamic law. In recent years, some microfinance institutions (MFIs) have stepped in to service low-income Muslim clients who demand products consistent with Islamic financial ...

Department of Electrical and Computer Engineering, Parsian Institute of Higher Education, Qazvin, Iran E-mail: [email protected] Department of Computer Engineering, Faculty of Computer and IT, Islamic Azad University, Parand Branch, Parand, Tehran, Iran E-mail: [email protected] Department of Computer Engineering, Faculty of Engineering, Islamic Azad University, Karaj Branch, Karaj...

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Islamic mysticism or Sufism is one of the most outstanding appearances of Islamic culture that has had a fundamental and undeniable role in the history of Islam. A careful study of the history and development of the movements of Islamic culture shows that this movement, like most other ones, has been originated from, developed, and cultivated in an Islamic environment, though it has undoubtedly...

for marshall hodgson, the history of the islamic civilization is not an event, rather it is a chain of continuous events happening with a global harmony and historical continuity, enjoying a spirit among different cultures and nations and throughout historical periods. the continuity of historical events in the islamic world does not amount to the interconnection of all events in the islamic hi...

The core principles of Islam lay great emphasis on social justice, inclusion, and sharing of resources between the haves and the have nots. Islamic finance addresses the issue of “financial inclusion” or “access to finance” from two directions — one through promoting risk-sharing contracts that provide a viable alternative to conventional debt-based financing, and the other through specific ins...

The rhetoric of Islamic banking – exemplified in this opening quote by one of the industry’s most prominent pioneers – is derived from its historical evolution as a model of two-tier silent partnership. In fact, Islamic banks have mimicked conventional bank assets – from receivables to bonds, with credit sale and lease-backed debt instruments. In the meantime, Islamic banks have continued to re...

1Biology Department, Faculty of Basic Sciences, Science and Research Branch, Islamic Azad University, Tehran, IR Iran 2Neurophysiology Research Center, Hamadan University of Medical Sciences, Hamadan, IR Iran 3Physiology Department, Medicine Faculty, Hamadan University of Medical Sciences, Hamadan, IR Iran 4Biology Department, Faculty of Basic Sciences, Hamadan Branch, Islamic Azad University, ...

The concept of Islamic or Shariah-compliant finance is based on core tenets of Islam concerning property rights, social and economic justice, wealth distribution, and governance. One of the key features of the system is prohibition of riba (interest) and gharar (ambiguous contracts or deals) (Kabir and Mahlkrecht 2011, 74; El-Gamal 2009, 58–60). There is consensus among scholars that the prohib...