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...

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...

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This article explores the contribution of modern Muslim revivalism to Muslims’ political decolonization, and paradoxical role West plays in that process. On one hand, rejects founding principles liberal theory, on other it readily adopts salient structures mechanisms polity with a view Islamize them, all while insisting need de-Westernize. Toward revealing hitherto neglected dimensions revivali...

Al Haram Al Shrif in Makkah is the holiest spot on the earth to Muslims. Every year about 14 million people are visiting the place from around the world, this number is increasing over the coming years. No author so far has been able to offer a fundamental study on its patterns, although there are many studies on Islamic patterns on other Islamic sites like Al Hambra and Al-Andolothia Mosque in...

OBJECTIVE To determine the status of lunch programs in Islamic schools in the United States and develop recommendations for improving them. STUDY DESIGN The Islamic Medical Association of North America (IMANA) conducted a survey of lunch programs by mailing questionnaires to 100 Islamic schools in the United States. Muslims in Dietetics and Nutrition (MIDAN) developed lunch menus using Americ...

Islamic banks underlie the fundamental principles of the Shari’ah, which encompass all business activities, financial contracts, and transactions. The Shari’ah Supervisory Board (SSB) monitors and certifies compliancy and is unique to the governance structure of Islamic banks compared to their Western counterparts. This study addresses the question of how the compositional characteristics of th...

Is Islam compatible with modern economic development? The poor development record of predominantly Muslim countries during the past century has led to claims that only a return to medieval Islamic institutions will produce economic growth in a manner that is compatible with Islamic culture. Using data from the thirteenth century Islamic Levant, this paper examines how one medieval Islamic insti...

Muslim physicians and Islamic jurists analyze the moral dimensions of biomedicine using different tools and processes. While the deliberations of these two classes of experts involve judgments about the deliverables of the other’s respective fields, Islamic jurists and Muslim physicians rarely engage in discussions about the constructs and epistemic frameworks that motivate their analyses. The ...