Purpose – The purpose of this paper is to set out the role of banking in a binary and Islamic economy. Design/methodology/approach – By comparison, the paper shows that the main requirements for such an economy, although superficially similar, differ from the realities of “free market”...

Purpose – The purpose of this paper is to show that fractional reserve banking (FRB) has implications for the ownership structure of assets in the economy that violates the Islamic principles of ownership. Design/methodology/approach – This is a theoretical paper that looks into the works of...

Purpose – The purpose of this paper is to argue that corruption is inherently unmeasurable. Measures of corruption produced by different sources are highly unsatisfactory. Useful measures may be possible for specific purposes in limited contexts. Reasons why highly unsatisfactory measures are...

Purpose – The purpose of this paper is to explore the extent to which macroeconomic variables affect the Islamic stock market behavior in Malaysia in the post 1997 financial crisis period. Design/methodology/approach – The paper employs the latest estimation technique of autoregressive...

Purpose – The purpose of this paper is to explain the global dilemma faced by humanity due to rising population pressures, constrained resources and related food security issues. The paper highlights the potential of information technology, biotechnology and nanotechnology in providing...

Purpose – The purpose of this paper is to contribute to the existing body of work in the area of Islamic microfinance by examining the co-operative nature of Islamic financial services providers (IFSPs) in Australia. Design/methodology/approach – The method employed in this study is a...

Purpose – The purpose of this paper is to demonstrate that there is a gigantic difference in political philosophy between earlier and later Catholic theology, regarding free trade. Design/methodology/approach – The paper compares statements on free trade made in the earlier period by...

Purpose – The purpose of this paper is to analyze and understand the Rubinomics hypothesis or the argument that “fiscal discipline” will bring private investment to a growth path as a result of a decrease in real interest rates, during the 1990s in the USA. Design/methodology/approach –...

Purpose – The purpose of this paper is to clarify issues concerning the implications and usefulness of the concept of supervenience in social analysis and research. Design/methodology/approach – Supervenience refers to the notion that interaction in complex systems gives rise to...

Purpose – As per Islamic business ethics, corporate social responsibility (CSR) of the business organizations and Islamic financial institutions (IFIs) should be seen as a benefit rather than a cost. The intense commitment of Islam to justice and brotherhood demands that business organization...