1st Edition

The Routledge Handbook of Islamic Economics and Finance

452 Pages 49 B/W Illustrations
by Routledge

452 Pages 49 B/W Illustrations
by Routledge

Islamic finance is one of the fastest-growing sectors of the finance industry due to a number of factors, including the technology boom, fintech, blockchain, and higher oil and commodity prices, but also, in particular, its demand by 1.5 billion Muslims around the globe. It enjoys sustainably higher positive returns compared to its conventional finance counterparts, specifically during financial... Read more

List of Figures

List of Tables

List of Contributors

Foreword

Acknowledgements

PART I Islamic Economics

1 Role of Islamic Economics, Business, and Finance in a Contemporary Global Context

Hussain Mohi-ud-Din Qadri, M. Ishaq Bhatti, and Mohd Azmi Omar

2 Circular Economy, Blue Economy, and Islamic Finance Perspectives

Nasim Shah Shirazi and Toseef Azid

3 Bay’ al-Salam as an Alternative to Agriculture Subsidies

Nur Hurin Ayuni Binti Haji Mohammad Syafien, Mohd Hairul Azrin Haji Besar, Siti Fatimahwati Pehin Dato Haji Musa, and Sazali Zainal Abidin

4 Food Security Development in Indonesia and OIC Member Countries: Seizing the Potential Food Trade in Non-Traditional Markets

Fajar B. Hirawan and Safiullah Junejo

5 Cultivating Generosity: Promoting Waqf Funds for Lasting Community Benefit

Nurul Adilah Hasbullah, Siti Nor Amira Mohamad, and Asmak Ab Rahman

6 Developing Sukuk Market in Pakistan

Muhammad Musa, Hassan Shakeel Shah, and Syarah Syahira binti Datuk Mohd Yusoff

7 Impact of National Governance on Operating Performance: A Comparative Study of Financial Institutions of Pakistan

Fiaz Ahmad, Calvin Cheong Wing Hoh, and Zaheer Anwer

8 The Role of Sharia Law in Promoting Social Justice and Sustainable Development in Southeast Asia

Hisam Ahyani, Ending Solehudin, Naeli Mutmainah, Nurul Ilyana binti Muhd Adnan, Yogi Triswandan, Aini Nurun Nazhifah, Miftakhul Huda, Moh. Syarif Hidayat, and Dian Permana

9 Economy of the State: A Study of Mawdūdī’s Critique of Capitalist Economy

Zain Razzaq and Rab Nawaz

PART II Islamic Business

10 Exploring the Minds of Millennial and Gen Z Tech-Adopters of Islamic Fintech in Indonesia Using Artificial Neural Networks

M. Luthfi Hamidi and Siti Nur Aisyah

11 Will the Application of Blockchain Technology in Malaysia’s Zakat Management Lead to Sustainability?

Shifa Mohd Nor, Amelia Nur Natasha Binti Nazeri, Aisyah Abdul-Rahman, and Mohd Helmi Ali

12 Catalysts for Sustainable Economic Growth and Big Data Technologies in the Islamic Financial Industry

Muhammad Khalid Shahid, Aye Aye Khin, Lim Chee Seong, Omar Hamdan Mohammad Alkharabsheh, and Ghalib Mohammed Alyamani

13 Ostensible PLS Trading Contracts in Islamic Financial Institutions: What’s Past Is a Prologue

Islam Kamal

14 Potential of Islamic Foreign Direct Investment Flow to Malaysia: Case Study of Gulf Investor’s Preference Factors in the Europe Region

Ashurov Sharofiddin, Rusni Hassan, and Osman Sayid Hassan Musse

15 Factors Leading to and Consequences of an Effective Internal Shariah Audit Function in Malaysian Islamic Financial Institutions

Nur Laili Ab Ghani, Noraini Mohd Ariffin, and Abdul Rahim Abdul Rahman

16 A Comparative Analysis of Trust in Banks in Islamic and Non-Islamic Countries

Aribah Aslam and Ghulam Ghouse

17 Shariah Advisory Committee and Islamic Banks’ Performance in Pakistan: Role of Board of Directors

Muhammad Sohaib Ashraf

PART III Islamic Finance

18 Key Issues in Marketing Shariah-Compliant Financial Services to Muslim Customers

Intekhab Alam

19 Core Principles of Islamic Finance Revisited: The Profit- and Loss-Sharing Doctrine Exposed

Ahmed Belouafi and Abdulrhman Alamoudi

20 Historical Perspective of the Islamic Financial System in Italy

Paolo Biancone and Francesca Corsini

21 The Effectiveness of Outreach in Islamic Microfinance Institutions: Implications for Poverty Reduction

Norma Bt Md Saad, Md Nazim Uddin, Yusof Bin Ismail, and Lutfun Nahar

22 Impact of the Shariah Board’s Characteristics on the Financial Soundness of Islamic Banks

Muhammad Omer Rafique

23 A Comparative Analysis of Sharīʿah Microfinance Models to Alleviate Extreme Poverty

Mohammad Khalequzzaman, Asmak Ab Rahman, and Amirrudin Kamsin

24 Empowering Communities: Navigating the Scope and Impediments of Islamic Microfinance in India

Fareed Ahmad Malik

25 Islamic Blended Finance as a Catalyst: Driving Sustainable Waste-Recycling Initiatives in Pakistan

Hadia Saqib Hashmi and Dalal Aassouli

26 Unlocking the Financial Dilemma: Millennial Muslims and Islamic Financial Literacy

Zahid Bashir, Muhammad Sabeeh Iqbal, and Muhammad Aamir

27 Concluding Remarks

Hussain Mohi-ud-Din Qadri, M. Ishaq Bhatti, and Mohd Azmi Omar

Index

Biography

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

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

Mohd Azmi Omar is President and Chief Executive Officer of the International Centre for Education in Islamic Finance (INCEIF), Malaysia.