Whatever way "underdevelopment" is defined and whether one accepts or rejects any such definition, the following questions remain unresolved: why "underdevelopment" persists, particularly in the Muslim world? Is it a permanent feature of Muslim societies? Are poverty and deprivation, hunger and...

For all practical purpose, qard and qard hasan are generally regarded synonymous from orthodox Islamic viewpoint, because, due to the categorical prohibition of riba in the Qur'an, qard (loan) is considered ribawi, and therefore only gratuitous monetary loans – without any benefit to the...

Modern economies have experienced unprecedented growth and prosperity, enabling a large majority of their societies to rise above poverty. The economics of wealth accumulation seems to have steadily unfolded offering better standards of living to the majority of those living in the developed...

Sukuk restructuring primarily aims at offering a debtor more latitude, in form and time, to settle his obligations. To meet Shari'ah requirements of transferring assets to Sukuk holders in asset-based Sukuk, the originator usually transfers the beneficial ownership to the issuer special purpose...

Environment and climate change are generally considered a systemic risk, not as part of the systematic risk. The view of Islamic finance industry and institutions is no different. However, with greater awareness about the existential threat of climate crisis, there is call for treating it as...

The theoretical foundation of Islamic economics and finance is based on, among other things, Homo Islamicus or Islamic Man. Islamic economics and finance theoreticians contrast Homo Islamicus with Homo economicus or the Economic Man. This paper examines whether or not Homo Islamicus is...

As part of Islamic finance industry, one of the areas that has become quite popular is Islamic wealth management (IWM). How IWM is distinguished from its conventional counterparts? How closely the current practices correspond with the maqasid of Islamic finance? This brief paper provides a brief...