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...

Iran’s June 2009 elections set into motion four processes that are central to the operations of the Islamic Republic regime. They include: the growing gap between large sections of Iranian society from the Islamic Republican state; the steady militarization of the political system; the unprecedented degree to which the Supreme Leader has become an active partisan in the increasingly bitter poli...

Department of Community Medicine, International Islamic University, Malaysia. Department of Internal Medicine, International Islamic University, Malaysia. Institute of Education, International Islamic University, Malaysia. Hospital Tengku Ampuan Afzan, International Islamic University, Malaysia. Pharmaceutical Chemistry, International Islamic University, Malaysia. Department of Family Medicine,...

The flavor du jour in discussions of Islamic terrorism features a de-emphasis on the ideological component, drawing instead upon epidemiological and criminological concepts; approaching Mexican drug gangs and Islamic extremists as being more similar than they are different. This aids a network scrutiny and suggests buy-out rather than ideological deradicalization. Such new abandonments of the i...

In recent years, Islamic terrorism has manifested itself with an unexpectedly destructive force. Despite the fact that Islamic terrorism commences locally in most cases, it has spread its terror worldwide. In August 2014, when troops of the self-proclaimed 'Islamic State' conquered areas of northern Iraq, they turned on the long-established religious minorities in the area with tremendous bruta...

Key institutions of the pre-modern Middle Eastern economy, all grounded in Islamic law, blocked the development of democratic institutions. This talk identifies three mechanisms that played critical roles. Islam's original tax system failed to produce lasting and credible constraints on governance. The waqfs (Islamic trusts) founded to provide social services to designated constituencies were p...

a r t i c l e i n f o The Dow Jones Islamic Market indices (DJIMI) are constructed by screening out stocks that are incompatible with Islam's prohibition of interest and certain lines of business. However, as a blunt instrument, the interest rate can affect discounted cash flows of any firm, even a firm with no financial leverage. This study reveals that the aggregate portfolio of Islamic stock...