Purpose – The purpose of this paper is to discuss Islamic laws which are relevant to finance. More specifically, it covers the types of contracts as foundation for the distinctive Islamic financial products. The current institutional framework of financial institutions seems to be incompatible...

Purpose – The purpose of this paper is to raise awareness of the role of Islamic endowments (awqaf) as viable mechanisms for financing poverty alleviation programmes and the value of the third sector in promoting public welfare. Design/methodology/approach – Secondary sources provided the...

Purpose – The purpose of this paper is to study the process of price determination by the market in the existing variable fiat money regime and its consequences. Design/methodology/approach – Scientific knowledge pertaining to units and measurement has been applied to study the issue of...

Purpose – The purpose of this paper is to evaluate the role of human capital technology spillovers across countries in converging their growth rates. Design/methodology/approach – This paper develops a closed form mathematical endogenous growth model and applies it to a small open economy...

Purpose – The purpose of this paper is to estimate the short and the long run wheat demand elasticities in Pakistan. Design/methodology/approach – Using cointegration and vector error correction model (VECM) techniques, the main objective of the study has been achieved. Findings – The...

Purpose – The purpose of this paper is to examine the appropriateness of faith-based model (FBM) as a veritable policy response to the issue of poverty alleviation and actualisation of the millennium development goals (MDGs) in Nigeria. Design/methodology/approach – The paper combined...

Purpose – The purpose of this paper is to analyze and evaluate the present liquidity management in the Indonesian Islamic banking industry. It also proposes an integrated and comprehensive program of liquidity risk management which captures and assimilates the whole aspects of the issue and...

Purpose – The purpose of this paper is to explore the distinctive decision-making style of Alshura (participative approach) and its role in governance of Muslim states to provide insight of this pioneering democratic approach to decision making. The paper provides further knowledge of an issue...

Purpose – After discussing the high and rising health care costs in the USA, its disparities, and the suggested demand, supply, and managed competition-side strategies to contain health care costs and their ethical implications, this paper seeks to explore whether or not these strategies will...

Purpose – The purpose of this paper is to present Kautilya's principles of taxation during the fourth century BCE. Design/methodology/approach – Modern tools of economic analysis are used to present Kautilya's principles on income taxation. Findings – Kautilya implicitly suggests a linear...