Purpose This paper aims to propose a model of Zakah treatment for financial instruments. The model depends on the link between the financial assets and liabilities that emerge from a financial instrument contract. Design/methodology/approach The determination of Zakah on contemporary financial...

Purpose This paper aims to investigate the immediate effect of the outbreak of the COVID-19 pandemic by investigating volatility transmission and dynamic correlation between stock (conventional and Islamic) markets, bitcoin and major commodities such as gold, oil and silver at different...

Purpose This paper aims to analyze the connectedness between the natural gas, wheat, gold, Bitcoin and Gulf Cooperation Council (GCC) stock indices with the advent of exogenous and unexpected shocks related to the health and political crises. Design/methodology/approach For this end, a...

Purpose This paper aims to examine the short-term market impact of the beginning of the military conflict between Russia and Ukraine (24 February 2022), the world’s largest oil and gas companies. Design/methodology/approach The authors examine the world’s 100 largest listed oil and gas...

Purpose Sustainable development is considered a key factor in addressing environmental issues, global inequalities and poverty. This study aims to investigate the impact of stock market indicators on sustainable development across 16 emerging markets from 2003 to 2020....

Purpose This study aims to examine the extent to which traditional juristic approaches to determining intention in Islamic law are altered in the institutional framework and standard-setting project of the Malaysian state. Design/methodology/approach The study used the transnational law theory,...

Purpose Using data on 739 banks from 22 countries with a dual banking system from 2012 to 2019, this paper aims to examine whether capital inflows affect banks’ profitability in recipient countries. Design/methodology/approach The authors check the conjecture about the effect of capital...

Purpose Commercial banks are the catalysts for meeting the financing needs of small and medium enterprises (SMEs). However, not all commercial banks are equally attractive to SMEs because of differences in banking services’ key attributes. Moreover, customers’ preferences vary between...

Purpose Islamic banking and microfinance institutions (MFIs) share the core objective of serving the underprivileged. This study aims to investigate whether Islamic banking development facilitates (greases) or hinders (sands) the social mission of MFIs. Design/methodology/approach Data for 19...

Purpose Shariah-compliant security tokens can play an important role in developing innovative solutions to resolve voluntary and involuntary financial exclusion in Muslim societies. This paper aims to present features of Shariah-compliant security tokens and supporting ecosystems that can...