Issues relating to zakah on equity shares are far from being settled if one considers the available fatawa and observed practices in many Muslim countries. The most basic questions pertain to the correct method of valuation of equity shares for the purpose of estimation of zakah liability. This...

Arabic Abstract: إن القضايا المتعلقة بزكاة الأسهم لازالت بعيدة عن الاستقرار على رأي واحد إذا أُخذ بعين الاعتبار الفتاوى الصادرة بشأنها والممارسات التطبيقية لها في...

This paper argues that a uniform application of the Basle capital adequacy norms to both conventional and Islamic financial institutions may be discriminatory and defeat the very purpose of the regulations, that of ensuring a “level playing field” for banks across the globe. The business of...

In view of the central role which options play in mainstream financial engineering – in design of innovative financial products and management of risk, this paper undertakes an Islamic evaluation of options and its role in the Islamic system of financial contracting. An Islamic assessment of...