This paper uses Leamer's sensitivity test in a VAR framework and examines the robustness of the relationship between different monetary and output variables. Output variables at the aggregated level include GDP, consumption, and gross private investment. Disaggregated variables comprise...

Risk management is central in operations of financial institutions, both from business and regulatory perspectives. Risk management is not only about identifying and mitigating risks, but involves a strong risk management system that includes establishing appropriate risk management environment,...

While conventional microfinance institutions (MFIs) have expanded their operations in the last two decades, poverty-focused MFIs based on Islamic principles are lagging behind. This paper provides the theoretical basis, operational framework, and empirical support for the establishment of...

A large literature contends that legal systems that adapt efficiently to meet the contracting needs of the economy foster financial sector development. The paper discusses the adaptability features of Islamic law related to commercial transactions (Islamic commercial law) in light of...

Risk management is central in operations of financial institutions, both from business and regulatory perspectives. Risk management is not only about identifying and mitigating risks, but involves a strong risk management system that includes establishing appropriate risk management environment,...

The paper discusses, in the light of a sample survey of Islamic financial institutions, the measures that need to be taken to improve the overall corporate governance in these institutions.

The paper discusses a number of risk management issues of the Islamic financial industry. It outlines the risk management processes and techniques that enable financial institutions to control undesirable risks and to take benefit of the business opportunities created by the desirable ones.

The paper discusses a number of risk management issues of the Islamic financial industry. It outlines the risk management processes and techniques that enable financial institutions to control undesirable risks and to take benefit of the business opportunities created by the desirable ones.

The paper is a comprehensive study addressing various issues of implementing zakah and awqaf in contemporary times. Using both theoritical arguments and data makers, practitioners, academia and researchers may find interesting and relevant. It is hoped that the study will be instrumental in...

The aim of this paper is to examine the demand factors for microfinance services in Indonesia consisting of the understandings, perceptions and preferences of 581 micro finance institutions (MFIs) clients of four MFIs— two Islamic (BMT and BPRS) and two conventional (BRI and BPR). The results...