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American Journal of Islamic Social Sciences 69:2
The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.
Operative Principles of Islamic Derivatives
Derivatives are few and far between in countries where the compatibility of financial transactions with Islamic law requires the development of shari'ah-compliant structures. Islamic finance is governed by the shari'ah, which bans speculation and gambling, and stipulates that income must be derived as profits from the shared generation of goods and services between counterparties rather than interest or a guaranteed return. The paper explains the fundamental legal principles underpinning Islamic finance with a view towards developing a cohesive theory of derivatives subject to shari'ahprinciples. After critically reviewing accepted contracts and the scholastic debate surrounding existing financial innovation in this area, the paper offers an axiomatic perspective on a principle-based permissibility of derivatives under Islamic law.
Human Security and Philanthropy
Muslims for hundreds of years have been involved in philanthropic activities targeting poor and needy people through varied types of ‘third sector’ organizations (TSOs). Nonetheless, many people in Muslim majority countries (MMCs), not having freedom from hunger, face human security crises. Not much is known about the TSOs or their human security provisions in MMCs. To fill this knowledge gap, this Volume documents and analyses philanthropy and all types of third sector organizations including the awqaf (Muslim endowments) vis-à-vis human security in MMCs. The study is comprehensive in treating the subject matter (analyzing the legal environment, characteristics, extent and functioning ...
American Journal of Islamic Social Sciences 15:1
The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.
Dissensions: Logic For Belief
The establishment and operation of Islamic banking and finance are governed by Shari'ah principles. These specific underlying principles give a new dimension to its governance structure, which is known as Shari'ah Governance. The aim of this research is to examine the theoretical and practical aspects of problems and challenges facing Islamic banking and finance in Pakistan. The study focuses on four main issues: the legal and regulatory framework, Shari'ah compliance, management, and accounting. In order to achieve the objectives, this study surveys different groups of respondents who are involved in the operation of Islamic banking and finance, using semi-structured interviews. The key respondents are members of the Shari'ah Committee, Shari'ah Officers and Chief Executive Officers (CEO).
Islamic Economics and Finance
Islamic economics is one of the most significant aspects of the Islamic resurgence in the Muslim world. Its development during the last twenty-five years has been so impressive that it has become difficult to keep pace with the growing literature emanating from every part of the world. It has attracted world-wide attention and scholars and researchers are endeavouring to explore all aspects of Islamic economics. Islamic economics is now taught as an academic discipline in the universities of Islamic countries. This bibliography consists of some 1600 entries in the English language, covering the last twenty years. Entries are drawn from published and unpublished sources, including books, articles, dissertations, theses and conference papers. It includes author and subject indexes, and an appendix listing the most important journals devoted exclusively to the theory and practice of Islamic economics.
