This research paper aims to initialize a theoretical analysis of the effects of exogenous and endogenous shocks on the economics of Hajj and Umrah. Through the induction methodology of Shariah Makassed analysis and the theoretical modeling approach of the structural autoregressive vector, this...

The paper aims to analyze the current account of the Saudi economy using an intertemporal modeling and tested by the structural VAR methodology. By deriving the long-run current account to GDP ratio, we analyze the impacts of global and local shocks on the current account. Considering that the...

This paper aims to develop an Islamic intertemporal model of the current account based on the prevailing theoretical and empirical literature of PVMCA (Obstfeld and Rogoff 1996, Cerrato et al. 2014). The proposed model is based on the budget constraint of present and future consumption, which...

Relationship banking (RB) with SMEs has been approached as a one-size-fits-all where no differences exist between micro, small, and medium businesses. Nevertheless, recent research has identified three distinct levels of RB depending on variables such as the size and complexity of the business...

Sukuk are considered as an alternative instrument in Islamic finance. However, the structures and provisions make sukuk dissimilar to bonds. Literature is having difficulty in the comparison between the performance/integration of the sukuk and bonds issued at the same time. To fill the existing...

If the z-score index is widely used as a measure of the stability in conventional banks, it would be more reliable to find an appropriate measure of the stability for all types of banks. Knowing that the cooperative or Islamic banks follow different contract forms of investments such as the PLS...

The novelty of Shibani’s earning model is its integration of Zakat and other social giving in the social welfare function, which makes the consumer utility a multi-dimensional devotional, material, ethical, social, and Shariah-compliant function. In the model, the consumer’s income evolves...

Understanding the long-run dynamics of OPEC and non-OPEC crude oil prices is important in an era of increased financialization of petroleum markets. Utilizing an ECM within a threshold cointegration and CGARCH errors framework, we provide evidence on the cointegrating relationship and estimate...

This study investigates the return spillovers and volatility spillovers from developed markets (e.g., Europe, Japan, and the US) into the financial markets of selected emerging countries in Asia and the Middle East and North Africa (MENA) region. Based on constant and trend spillover models, we...