This paper attempts to outline a possible financial structure for an interest-free economy,
which would conform to the Islamic principles. The basic characteristics of that economy are …

After a generation of non-professional writers in Islamic economics, professional economists
entered the stage with an important ambition, which has been to introduce a third alternative …

We argue that regulation can improve the performance of conventional banks up to a limit,
but cannot eliminate the inefficiencies resulting from the use of the conventional loan …

Islamic finance has several comparative advantages over conventional finance. Since they
are related to efficiency, stability and other macroeconomic benefits, they cannot be easily …

The monetary policy today has literally become interest rate policy. The central banks decide
the short-term interest rate to achieve their objectives. The monetary policy is conducted …

In this study, we classify the unconventional monetary views found in the modern Middle
East economic literature into five main categories. These five categories include 1) Full …

This paper compares the transactions costs in two economies, one conventional, the other
Islamic. The conventional economy is characterized by borrowing to finance some current …

When it comes to definitions of ethics, and business ethics in particular, we have relied in
this paper on a quick survey of the literature. We also referred to other writings to explain …

Islamic economics as a distinct school of thought within economics, studies the rationale and
consequences of the resulting decisions. Naturally, Islamic economics does not have to be …

Apparently irrational exuberance of flooding liquidity to financial markets in times of
cantankerous downturns through the fractional reserve structure of modern banking coupled …