Purpose - The purpose of this paper is to explore the concept of rent-seeking behaviour and rentier state in the context of ẓulm (injustice and exploitation), which is one of the key concerns in Islam in general and Islamic economics and finance in particular. Design/methodology/approach - As...

This study undertakes an analysis of the risks in retakāful whether they are shared by the participating takāful operators (TOs) and retakāful fund, or are transferred to retakāful operators (RTOs). In the latter case RTOs become liable for deficits where the losses, if any, would directly...

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...

Scholars and researchers in the field are almost unanimous that poverty reduction is one of the primary goals of zakat and targeted upliftment is pivotal for poverty alleviation. Generally it has been argued that faqir (destitute) and miskin (needy) are the primary target groups and their...

Contemporary Islamic economic thought has its roots in the Islamic revivalism of the twentieth century. Since the time of Prophet Muhammad, Muslims had a vibrant and dynamic civilization, where the economic life did go on both at the individual and collective level. While economics as a...