In this study, we attempt to document the progress in Islamic banking industry of Pakistan towards fostering an egalitarian and equitable financial intermediation. We use a set of quantitative indicators to objectively asses the performance of Islamic banks towards fostering a participative,...

This study explores the economic potential of the institution of Waqf in funding necessary social and public infrastructure and to act as a permanent social safety net. In section 2, we explain the motives behind charitable giving in the real world. We discuss the factors identified in the...

This paper critically reviews and evaluates stress-testing frameworks and practices of supervisory authorities in a dual banking system namely Malaysia, Indonesia and Pakistan. The analysis suggests that similar to single banking system, there are two main designs to stress testing -bottom-up...

This paper aims at analyzing the preferences of Malaysian bank customers with a focus on identifying characteristics of the opportunity seekers, those who only consider the economic benefit of the product offered. We also look at the determinants of consumers preferences for financial products...

This chapter looks at the relationship between governance and economic development in selected Organization of Islamic Cooperation (OIC) member countries. This chapter outlines the concept of good governance in Islamic faith and episteme and provides some empirical evidence on the governance...

Muslim investors must comply with the ethical injunctions prescribed for them while making financial investments. As per Islamic principles, the use of Riba (interest), Maysir (gambling) and Gharar (uncertain or contingent payoff contracts) is prohibited. This chapter provides some recent post...