Purpose – This paper aims to document how does ownership concentration, a proxy for agency conflicts, affect capital structure of firms in emerging markets. Agency relationship between insiders and outsiders has the potential to influence corporate decision-making which, in turn, impacts firm...

Purpose – This paper aims to explore the moral aspect of qard (loan) from shariah perspective, and attempts to examine whether each interest-free qard is qualified for the Quranic term qard hasan (loan par excellence )? Also, the study attempts to establish the key constituents of qard hasan...

Purpose – The study aims to consider wa’dan -based products in Islamic banks in Malaysia and discuss the validity of wa’dan in those products from the perspective of Shari’ah. Design/methodology/approach – Case studies were conducted of three Islamic banks in Malaysia. Semi-structured...

Purpose – The purpose of this paper is to analyze the total factor productivity (TFP)[1] change and to investigate its determinants in the case of MENA Islamic banks. Design/methodology/approach – In the first stage, bootstrapped Malmquist index approach is used to provide a robust analysis...

Purpose – The purpose of this paper is to examine the revenue efficiency of Islamic banks in the Southeast Asian countries. Specifically, the empirical analysis comprises Islamic banks operating in Malaysia, Indonesia and Brunei. This paper also seeks to investigate the potential internal...

Purpose – The purpose of this paper is to examine the use of the social welfare concepts of Takaful and Tabarru’ (donations) as tools to guarantee deposits in the Islamic banking industry, and the effect of such practice on the concept of risk sharing in Islamic finance....

Purpose – The purpose of this paper is to identify how zakat institutions in Brunei can facilitate financial inclusion into their practices and assist to fulfil the saving motives of zakat recipients, notably upon creating financial products/solutions for the poor and destitute....

Purpose – The purpose of this paper is to examine and compare the market power and the efficiency-stability of Islamic and conventional banks in the MENA zone and South East Asia during the 2005-2012 period. Design/methodology/approach – The author applied an empirical approach in two steps....

Purpose – The purpose of this paper is to provide explanation for the economic development of the earliest Islamic state. It focuses on the role of human capital as the most important element of this model and focuses on four dimensions of development of human personality in Islam: the...