1st Edition

Contemporary Issues in Islamic Social Finance

Edited By Hussain Mohi-ud-Din Qadri, M. Ishaq Bhatti Copyright 2022
    382 Pages 36 B/W Illustrations
    by Routledge

    382 Pages 36 B/W Illustrations
    by Routledge

    The development of Islamic banking and finance (IBF) previously centred around three regions of the world: the Middle East, Southeast Asia, and South Asia. However, in recent years, this has expanded, as interest in IBF has gained momentum in Australia, the USA, and Europe, especially in the UK. Several Western market players have established their own Islamic window or subsidiaries to cater to the need of growing Muslim populations in these regions.

    This book examines the recent developments in IBF, particularly in the context of Islamic social finance instruments, such as Islamic microfinance, halal education, takaful, mutual funds, and waqf. It covers the religiosity, spirituality, and tawhid index, which promotes social well-being and empowerment. The book is interdisciplinary, and theories, practice, and key issues are presented simultaneously, introducing new ideas and techniques to the IBF community. Moreover, the book examines topics such as innovation in Islamic social finance instruments, advanced techniques of risk mitigation in Islamic capital markets, marketing and the halal industry, and shari’ah-compliant instruments, which are critical to Islamic finance.

    The book is an essential reference text for academics and research students at the master’s and doctorate levels in IBF.

    List of Figures

    List of Tables


    Chapter 1: Contemporary Issues in Islamic Socio-finance

    Hussain M Qadri & M Ishaq Bhatti

    Chapter 2: Implications of profit-sharing investment accounts on the capital structure of Islamic bank: a comparative study

    Dawood Asharaf

    Chapter 3: Tawhid index of global wellbeing as the principal indicator of spirituality and development

    Masud Alam

    Chapter 4: Risk management and risk sharing in Islamic finance: theory and practice

    Rodney Wilson

    Chapter 5: Debt, Risk and Islamic Moral Economy

    Toseef Azid

    Chapter 6: Role of state Banks Policy rate in the economy of Pakistan

    Atiq ul Rehman

    Chapter 7: Religion, Culture and Islamic Marketing

    Hussain mohi ud din Qadri

    Chapter 8: A theoratical model for job creation: The role of Banks

    Anwar Shah

    Chapter 9: Lessons from the UK’s dedicated Islamic banks

    Mohammed Amin

    Chapter 10: Inclusive and sustainable growth with Islamic Finance

    Salman Ahmed

    Chapter 11: Embracing Islamic Banking as a new Engine towards the Growth of Economy

    Syed Abdul Rehman Shah

    Chapter 12: The role of Zakat in addressing poverty: An analysis of Sokoto State Zakat and Waqf (endowment) Commission

    Aminu Bhala

    Chapter 13: Analysis of sources and uses of charity fund account: A case study of Meezan Bank


    Chapter 14: Issuance of musawwamah based card by islamic banks as an alternative to credit card

    Imam ud deen

    Chapter 15:

    The Socio-Economic Impact of Waqf in Islam: A study of Zakkat and Endowment Commission in Sokoto State

    M. Dahiru Shunni

    Chapter 16: Business Zakat Reporting: Evidences from the Islamic Financial Institutions

    Teh Suhaila

    Chapter 17: The Blueprint of Pre-Higher education pragramme: A platform to uplift the B40 Economics position

    Aine Japar, Siti Salwa Salleh

    Chapter 18: An increasing Demand for Halal products and services: A call for an enactment of international convention on Halal Industries

    Ibrahim Danjuna

    Chapter 19: Education for Young Generations on Halal Food Audit and Certification: Challenges and Future Aspects

    Hadia Hashmi

    Chapter 20: Halal Tourism optimization to economic Growth: Study at Jakarta Indonesia

    Shinta Maharani

    Chapter 21: Do best by providing quality services: A case study towards Islamic Banking and customer behaviour

    Shahbaz Ahmed

    Chapter 22: Green Sukuk for Financing Renewable Projects in Islamic Social Finance: Problems and Solutions

    Maryam Saeed

    Chapter 23: Conclusion on Contemporary Issues in Islamic Socio-finance

    Hussain M Qadri & M Ishaq Bhatti



    Hussain Mohi-ud-Din Qadri is Deputy Chairman of the Board of Governors of Minhaj University, Lahore, and Associate Professor at the School of Economics and Finance, Minhaj University, Lahore, Pakistan.

    M. Ishaq Bhatti is a Professor of Finance and Financial Econometrics and the Founding Director of the Islamic Banking and Finance Programme at Latrobe University, Australia.