Purpose: The purpose of this paper is to examine the operating performance of Dow Jones Islamic Index (DJII) firms vs non-DJII firms. It also explores the impact of the 2007–2008 financial crisis on the operating performance of firms included under DJII relative to a comparable set of firms...

Purpose: Islamic banking was developed to serve two objectives: to replace interest-based loan system with profit and loss sharing investment modes and to promote equity in resource allocation. The first objective is called procedural whereas the second one is termed consequential. Scholars...

Purpose: The purpose of this paper is to develop and subsequently validate a Maqasid al-Shari’ah-based performance evaluation model for Islamic banks. Design/methodology/approach: Initially, a comprehensive review of the existing and relevant literature is carried out and a prototype...

Purpose: This paper aims to study the co-movement dynamics of Islamic equity returns to explain international portfolio diversification opportunities for investors having a heterogeneous stock holding period in light of Brexit. Design/methodology/approach: The authors use the following three...

Purpose: This research is concerned with the development of Salam, which caters for the specific needs of farmers, who form a vital yet fragile group in most developing nations. Based on the local context of Aceh Province in Indonesia which is considered to be parallel with other developing...

Purpose: This paper aims to present a simple behavioural explanation of the prohibition of speculation in Islamic finance. Design/methodology/approach: This paper proposes a theoretical model that describes how investors from low income strata of the society may be prone to make sub-optimal...

Purpose: The global sukuk market has seen widespread innovations in the last couple of decades, which helped sukuk develop into one of the most acceptable Islamic instruments for raising finance. According to the State of the Global Islamic Economy Report (2018–19), United Arab Emirates (UAE)...

Purpose: This paper aims to make the first attempt to study the transmission of COVID-19 pandemic-induced shocks to the global Islamic stock markets in the midst of the overall macroeconomic environment and cross-country trade linkages. This is made possible by constructing a global vector...

Purpose: This paper aims to examine the compliance status of Islamic banks in Bangladesh with Shari’ah-based accounting standards named Islamic Financial Services Board (IFSB) standard-4 and its association with corporate governance. Design/methodology/approach: The six years of secondary...

Purpose: The transformation of coronavirus disease (COVID-19) from a regional health crisis in a Chinese city to a global pandemic has caused severe damage not only to the natural and economic lives of human beings but also to the financial markets. The rapidly pervading and daunting...