Islamic financial contracts are designed to facilitate financing according to Islamic norms. Islamic financing in its first stages used only the partnership modes of Musharakah and Mudarabah. Later it is realized that, to avoid moral hazards, yet compete successfully with conventional banks, it...

The high rate of unemployment and the slow progress of economic growth in most North African countries have spotlighted the importance of inter-regional trade among them as an alternative solution to achieve inclusive growth in the long run. This paper investigates challenges facing...

This paper critically reviews and evaluates stress-testing frameworks and practices of supervisory authorities in a dual banking system namely Malaysia, Indonesia and Pakistan. The analysis suggests that similar to single banking system, there are two main designs to stress testing -bottom-up...

Islamic finance has gained interest in Muslim as well as non-Muslim countries as financial markets are trying to attract capital from investors in search of investment opportunities in accordance with Islamic principles. While the industry is growing on fertile grounds in countries such as...

Although Tunisia has completed its political transition toward democracy, its economy remains fragile and faces huge challenges. Professional insertion of young people in the labor market is among the top economic priorities of the country. Sound public policies with the objective of creating...

This study adopts the framework practiced by various multilateral development banks (MDBs), particularly International Development Association (IDA), to explore the potential establishment of a global Waqf fund, as this framework is proven effective. The framework revolves around the IDA...

Zakat as an annual flow of charity funds has received increasing attention of financial regulators and policy makers. Unlike other forms of Islamic philanthropy, zakat is mandated and compulsorily levied on every high-net-worth Muslim. Its primary goal is to serve as a tool to provide for the...

Different from a conventional cooperative, a Shari'ah-based cooperative observes Shari'ah principles. As these cooperatives offers Islamic financial products and involves in Shari'ah compliant investment, they are bound to observe Shari'ah governance structure, transparency, disclosure of...