Browsing by Title

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Showing results 252 to 271 of 1687
  • contemporary_practices_musharakah_financial_transactions_takao_etal.pdf.jpg
  • Journal Article


  • Authors: Moriguchi, Takao; Khattak, Mudeer Ahmed; Farhan, Muhammad; Firdaus, Mohamad; Worasutr, Asas; Lukman Hakim, Andi; Musthafa, Fikry; Muneeza, Aishath (2016)

  • Musharakah, which is translated as 'joint venture or partnership' or 'profit and loss sharing contract' is regarded as an ideal financing contract in Islamic finance. Musharakah has been applied to Islamic banking and Islamic capital market across the world and it is also proposed as one of alternative model in takaful business. Musharakah contract is also combined with other contracts and interesting products such as Musharakah Mutanaqisa has been developed. However, there are considerations concerning the principles of Shariah. This paper aims to discuss these matters and offer recommendations in order for Musharakah to be more widely accepted and adopted by the Muslim communities a...

  • Contributions_of_Professor_M_Kabir_Hassan_to_the_Islamic_finance_literature_a_bibliometric_study_Aishath.pdf.jpg
  • Journal Article


  • Authors: Mohammad Mushfiqul Haque Mukit; Aishath Muneeza; Andrea Paltrinieri (2021)

  • This study presents Professor M. Kabir Hassan's productivity, citations, collaborations with fellow researchers, publications, and content analysis with future research direction in conjunction with his 30th academic anniversary which is marked in 2021. The bibliometric and thematic analysis of the scientific legacy of Professor M. Kabir Hassan was conducted based on his publications from 1991 to 2021. During his long career, he has published 346 journal articles with 23,059 citations and collaborated with 292 authors globally. The findings of conceptual and empirical research papers published by Professor M. Kabir Hassan are crucial for the theoretical developments of Islamic finance...

  • item.jpg
  • Journal Article


  • Authors: M. Kabir Hassan; Mohammad Sydul Karim; Aishath Muneeza (2020)

  • The contention surrounding bitcoin's acceptability and usage has an unsettled premise in both conventional and Shari'ah law, although digital and cryptocurrencies reflect a lasting reality. This research analyses this contention by examining the concept of currency and/or money and the underpinning trust reposed on its issuing authority against the notion that cryptocurrencies and fiat money differ only in form but share the same substance and purport. Qualitative methodology provides an analysis from conventional as well as Shari'ah viewpoints to examine the extent cryptocurrencies can gain admittance in contemporary conventional and Islamic finance and economy. The methodology entai...

  • Corporate_bankruptcies_and_official_bail_outs_Turalay_Aydin_Gulcin.pdf.jpg
  • Journal Article


  • Authors: Turalay Kenc; Aydin Ozkan; F. Gulcin Ozkan (2005)

  • The existence of government guarantees to bail out investors and the use of official support to prevent corporate bankruptcies are commonly viewed to have largely contributed to the financial fragilities of many emerging market economies during the 1990s. This paper attempts to rationalize the existence and the duration of such policies. By using a simple model of the economy, we formalize governments' decision on how long to provide resources to bridge the gap between the corporate sector's earnings and obligations. By considering both the costs and benefits of bail-outs in an environment where there are unfavorable productivity shocks, we show that the bail-out policy ends sooner; t...

  • CIAWM_Issue3_corporate_ethical_identity_disclosure_anouar.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Anouar Gadhoum (2018)

  • The importance of ethics in the corporate world has received much attention in the 21st century, after a series of major financial fiascos. In fact, most of the performance of companies in the market have a new dimension of qualitative analysis besides the usual financial analysis that generate quantitative information to ascertain their performance (Guthrie and Farneti, 2008). Dhaliwal et al. (2011) point out that greater disclosure and transparency alighned with non-financial disclosures (social, ethical and environmental) play a complimentary role to financial transparency, leading to lower analyst forecaset errors. Therefore, a more objective assessment of expected financial perfo...

  • corporate_ethical_identity_disclosures_perceived_publicized_applied_islamic_banks_bello.pdf.jpg
  • Journal Article


  • Authors: Rashidah Abdul Rahman; Bello Lawal Danbatta; Nur Syatilla Saimi (2014)

  • The public’s perception about Islamic banks is that, they are ethical banks founded on religious precepts hence; they would be more transparent when compared to conventional banks, but our preliminary studies proves that perception to be wrong. This paper examines the levels of expected and actual ethical identity disclosures by Islamic banks using various dimensions of ethical identity disclosures for 21 banks in Bahrain and Malaysia. The main source of data is the annual reports of each bank for five consecutive years, 2007 to 2011. Data collected were analyzed using Ethical Identity Index (EII) model and Descriptive Analysis. Based on EII analysis, we found that, the aggregate actu...

  • item.jpg
  • Master


  • Authors: Ahmad Imran Gulam Rusul (2015)

  • After the 1997 Asian financial crisis, conventional bond and sukuk have become one of the major financial instruments for private and public listed firms in Malaysia to raise capital. In order to continuously attract both foreign and domestic investors and to maintain their participation in the bond and sukuk market it is vital that the regulatory authorities continuously strengthened corporate governance practices and regulatory framework to protect and safeguard the bond and sukuk holders' interest ...

  • corporate_governance_maqasid_shariah_empirical_study_management_practices_takaful_operators_Malaysia_shaikhhamzah.pdf.jpg
  • Journal Article


  • Authors: Nor Zarina Abu; Djasriza Jasin; Shaikh Hamzah Shaikh Abdul Razak; Kamaruddin Sharif (2014)

  • The development of the takaful industry in Malaysia has seen tremendous growth since its inception and has emerged as an important component of the Islamic financial system in Malaysia. Being an Islamic institution, the takaful business has to adhere Islamic rules and regulations, incorporate maqasid shariah, uphold the Islamic corporate governance and at the same time achieve its business goals. This study looks into the current practices of governance of takaful in Malaysia an links it with maqasid Shariah by assessing the three main stakeholders namely, the takaful operators, the takaful agents and the policy holders. Data were elicited through interviews from the respective par...

  • corporate_governance_from_a_global_perspective.pdf.jpg
  • Chapter in Book


  • Authors: Zulkarnain Muhamad Sori; Shamsher Mohamad Ramadili Mohd (2012)

  • This chapter deliberates on the international initiatives aimed at reforming and harmonizing corporate governance at a global, highlighting the difficulties of categorizing such a diversity of systems such that of the United Kingdom (UK), the United States (US), Germany and Japan. The polarization of corporate governance may have arisen from differences that exist between cultures and legal systems.

  • Corporate_governance_of_Islamic_banking_aishath.pdf.jpg
  • Book


  • Authors: Aishath Muneeza (2013)

  • There is no ready made definition for corporate governance. Some view corporate governance as an indescribable term like love and happiness, the nature of it is easy to understand, but difficult to describe in words. Islamically aligned corporate governance principles that apply to Islamic banking are dubbed as Shari'ah corporate governance. Corporate governance is essential to achieve optimal performance of any company. Without good corporate governance principles, a company could be described as a boat withour a rudder, which has no mission and vision to achieve.

  • corporate_governance_practices_and_firms_performance_zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Shabnam Mohamad Mokhtar; Zulkarnain Muhamad Sori; Mohamad Ali Abdul Hamid; Zaharuddin Zainal Abidin; Azhar Mohd Nasir; Abu Sofian Yaacob; Hasri Mustafa (2009)

  • This paper examines the relationship between corporate governance practices and company performance. In this study, a Mann-Whitney U test was performed to compare the performance between 5 Malaysian companies that practice good corporate governance and 5 Malaysian companies that did not practice good corporate governance. A study by Standard & Poor's in 2004 was the main source to identify companies practicing good corporate governance and vice versa. Financial ratios namely return on assets, return on equity, earnings per share and profit margin were used as a measure of company performance. It is found that there is no difference in performance between companies that practice good c...

  • corporate_governance_practices_in_malaysia.pdf.jpg
  • Book


  • Authors: Zulkarnain Muhamad Sori; Ridzwana Mohd Said; Mazrah Malek; Rosmila Senik (2012)

  • This book contains 17 chapters contributed by authors specializing in the related areas. The objective of the book is to disseminate research findings and ideas on corporate governance issues including environmental highlights from empirical works and literature reviews. This book will provide bases of reference for companies in enhancing their governance practices as well as for future researchers.

  • Corporate_social_responsibility_contribution_socio_economic_development_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Aminudin Ma'ruf; Shahbaz Alam; Aishath Muneeza (2020)

  • Islamic banks play a significant role in social and environmental responsibility. It is known that Islamic finance is not merely profit-oriented but also looking at the prosperity of the society, as an ethical financial system Islamic finance give a massive contribution towards social responsibility. This exploratory study examines the relations between corporate social responsibility (CSR) practices of Indonesian Islamic banks and socio-economic development. The evidence presented is based on the published annual reports of 13 Islamic commercial banks in 2017. The findings of this research suggests that CSR is a priority of Indonesian Islamic banks and has correlation to the socio-ec...

  • item.jpg
  • PhD


  • Authors: Muhammad Umar Islam (2019)

  • Globally, the awareness about sustainability has increased due to the lingering environment, social and governance-related issues. In this perspective, the role of social media and consumer awareness are important since they influence the corporate sector to care for sustainable development. Banks, being very important to the economy, contribute to sustainability through their internal (through governance, data security, etc.) and external (through environment-friendly loans , financial inclusion, etc.) practices. These practices are collectively called as environment, society, and governance (ESG) sustainability. ESG practices by banks are important since they operate on public funds...

  • corporate_waqf_vehicle_islamic_microfinance_magda_2015.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2015)

  • Ever since the 1970s, microfinance has become one of the schemes for poverty eradication and economic redevelopment strategies around the world. The main objective of this microfinance scheme is to eradicate poverty through financing the unemployed or low-income individuals or groups who are usually outside the formal banking system. Later on after the 1970s, millions of people from different countries, including Muslim countries, were accessing services from formal and semi-formal microfinance institutions (MFIs). All of a sudden, it has become a vast global industry involving a large number of governments, financial institutions and non-governmental organizations (NGOs) aiming to er...

  • Corporate_waqf_via_initial_public_offering_(IPO)_Mahadi_Noor_Sa'id Adekunle.jpg.jpg
  • Research Monograph


  • Authors: Mahadi Ahmad; Noor Suhaida Kasri; Sa'id Adekunle Mikail; Mohamed Ibrahim Negasi (2020)

  • The need for sustainable funding of institutions of higher learning led the Government of Malaysia to formulate its Universities Transformation Programme 2015-2025. This transformation agenda came out as the Purple Book which highlighted the need to address the funding gap that may occur in the education sector in the event of unexpected budget cuts. It called for the enhancement of income generation, endowments and waqf to achieve self-sustainability for higher learning institutions (Ministry of Higher Education Malaysia, 2016). Based on the above premise, this research explores the viability of corporate waqf via initial public offering (IPO) as an instrument to raise funds and sus...

  • corporate waqf from principle to practice_magda.pdf.jpg
  • Book


  • Authors: Ismail Abdel Mohsin, Magda (2014)

  • The institution of waqf is a historical institution adopted and developed by Muslims to get closer to Allah (s.w.t.) by providing different services to their societies and communities. This institution provides many goods and services such as education, healthcare, national security, different kinds of agricultural and industrial products, transportation facilities and basic infrastructure without any cost to the government. However, the last century, namely at the end of the Ottoman Empire, witnessed the destruction of this institution and its role was replaced and carried out by the governments in the Muslim countries, a move that exhausted the government's budget. Available in p...

  • item.jpg
  • Journal Article


  • Authors: Mughees Shaukat; AbdelKader Ouatik El Alaoui; Abdeslame Lasri; Syed Othman Alhabshi (2013)

  • The recent surge in demand for Shariah compliant instruments alongside the launch of Dow Jones City group Sukuk Index in 2006 has further catalyzed the increase in the number of issuance of global Islamic Sukuk. Saudi Arabia, UAE and Qatar have become major issuers of global Sukuk which are highly demanded by investors. The normal rationale given behind such behavior might be the religious commitments to involve in riba free investments. However, it is worth testing that is it only religious commitments that are driving the demand or there may be some other factors contributing to this surge. Realizing that the majority of global Sukuk issuance is from the oil exporter countries, one ...

Browsing by Title

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 252 to 271 of 1687
  • contemporary_practices_musharakah_financial_transactions_takao_etal.pdf.jpg
  • Journal Article


  • Authors: Moriguchi, Takao; Khattak, Mudeer Ahmed; Farhan, Muhammad; Firdaus, Mohamad; Worasutr, Asas; Lukman Hakim, Andi; Musthafa, Fikry; Muneeza, Aishath (2016)

  • Musharakah, which is translated as 'joint venture or partnership' or 'profit and loss sharing contract' is regarded as an ideal financing contract in Islamic finance. Musharakah has been applied to Islamic banking and Islamic capital market across the world and it is also proposed as one of alternative model in takaful business. Musharakah contract is also combined with other contracts and interesting products such as Musharakah Mutanaqisa has been developed. However, there are considerations concerning the principles of Shariah. This paper aims to discuss these matters and offer recommendations in order for Musharakah to be more widely accepted and adopted by the Muslim communities a...

  • Contributions_of_Professor_M_Kabir_Hassan_to_the_Islamic_finance_literature_a_bibliometric_study_Aishath.pdf.jpg
  • Journal Article


  • Authors: Mohammad Mushfiqul Haque Mukit; Aishath Muneeza; Andrea Paltrinieri (2021)

  • This study presents Professor M. Kabir Hassan's productivity, citations, collaborations with fellow researchers, publications, and content analysis with future research direction in conjunction with his 30th academic anniversary which is marked in 2021. The bibliometric and thematic analysis of the scientific legacy of Professor M. Kabir Hassan was conducted based on his publications from 1991 to 2021. During his long career, he has published 346 journal articles with 23,059 citations and collaborated with 292 authors globally. The findings of conceptual and empirical research papers published by Professor M. Kabir Hassan are crucial for the theoretical developments of Islamic finance...

  • item.jpg
  • Journal Article


  • Authors: M. Kabir Hassan; Mohammad Sydul Karim; Aishath Muneeza (2020)

  • The contention surrounding bitcoin's acceptability and usage has an unsettled premise in both conventional and Shari'ah law, although digital and cryptocurrencies reflect a lasting reality. This research analyses this contention by examining the concept of currency and/or money and the underpinning trust reposed on its issuing authority against the notion that cryptocurrencies and fiat money differ only in form but share the same substance and purport. Qualitative methodology provides an analysis from conventional as well as Shari'ah viewpoints to examine the extent cryptocurrencies can gain admittance in contemporary conventional and Islamic finance and economy. The methodology entai...

  • Corporate_bankruptcies_and_official_bail_outs_Turalay_Aydin_Gulcin.pdf.jpg
  • Journal Article


  • Authors: Turalay Kenc; Aydin Ozkan; F. Gulcin Ozkan (2005)

  • The existence of government guarantees to bail out investors and the use of official support to prevent corporate bankruptcies are commonly viewed to have largely contributed to the financial fragilities of many emerging market economies during the 1990s. This paper attempts to rationalize the existence and the duration of such policies. By using a simple model of the economy, we formalize governments' decision on how long to provide resources to bridge the gap between the corporate sector's earnings and obligations. By considering both the costs and benefits of bail-outs in an environment where there are unfavorable productivity shocks, we show that the bail-out policy ends sooner; t...

  • CIAWM_Issue3_corporate_ethical_identity_disclosure_anouar.pdf.jpg
  • Newsletter & Bulletin


  • Authors: Mohamed Anouar Gadhoum (2018)

  • The importance of ethics in the corporate world has received much attention in the 21st century, after a series of major financial fiascos. In fact, most of the performance of companies in the market have a new dimension of qualitative analysis besides the usual financial analysis that generate quantitative information to ascertain their performance (Guthrie and Farneti, 2008). Dhaliwal et al. (2011) point out that greater disclosure and transparency alighned with non-financial disclosures (social, ethical and environmental) play a complimentary role to financial transparency, leading to lower analyst forecaset errors. Therefore, a more objective assessment of expected financial perfo...

  • corporate_ethical_identity_disclosures_perceived_publicized_applied_islamic_banks_bello.pdf.jpg
  • Journal Article


  • Authors: Rashidah Abdul Rahman; Bello Lawal Danbatta; Nur Syatilla Saimi (2014)

  • The public’s perception about Islamic banks is that, they are ethical banks founded on religious precepts hence; they would be more transparent when compared to conventional banks, but our preliminary studies proves that perception to be wrong. This paper examines the levels of expected and actual ethical identity disclosures by Islamic banks using various dimensions of ethical identity disclosures for 21 banks in Bahrain and Malaysia. The main source of data is the annual reports of each bank for five consecutive years, 2007 to 2011. Data collected were analyzed using Ethical Identity Index (EII) model and Descriptive Analysis. Based on EII analysis, we found that, the aggregate actu...

  • item.jpg
  • Master


  • Authors: Ahmad Imran Gulam Rusul (2015)

  • After the 1997 Asian financial crisis, conventional bond and sukuk have become one of the major financial instruments for private and public listed firms in Malaysia to raise capital. In order to continuously attract both foreign and domestic investors and to maintain their participation in the bond and sukuk market it is vital that the regulatory authorities continuously strengthened corporate governance practices and regulatory framework to protect and safeguard the bond and sukuk holders' interest ...

  • corporate_governance_maqasid_shariah_empirical_study_management_practices_takaful_operators_Malaysia_shaikhhamzah.pdf.jpg
  • Journal Article


  • Authors: Nor Zarina Abu; Djasriza Jasin; Shaikh Hamzah Shaikh Abdul Razak; Kamaruddin Sharif (2014)

  • The development of the takaful industry in Malaysia has seen tremendous growth since its inception and has emerged as an important component of the Islamic financial system in Malaysia. Being an Islamic institution, the takaful business has to adhere Islamic rules and regulations, incorporate maqasid shariah, uphold the Islamic corporate governance and at the same time achieve its business goals. This study looks into the current practices of governance of takaful in Malaysia an links it with maqasid Shariah by assessing the three main stakeholders namely, the takaful operators, the takaful agents and the policy holders. Data were elicited through interviews from the respective par...

  • corporate_governance_from_a_global_perspective.pdf.jpg
  • Chapter in Book


  • Authors: Zulkarnain Muhamad Sori; Shamsher Mohamad Ramadili Mohd (2012)

  • This chapter deliberates on the international initiatives aimed at reforming and harmonizing corporate governance at a global, highlighting the difficulties of categorizing such a diversity of systems such that of the United Kingdom (UK), the United States (US), Germany and Japan. The polarization of corporate governance may have arisen from differences that exist between cultures and legal systems.

  • Corporate_governance_of_Islamic_banking_aishath.pdf.jpg
  • Book


  • Authors: Aishath Muneeza (2013)

  • There is no ready made definition for corporate governance. Some view corporate governance as an indescribable term like love and happiness, the nature of it is easy to understand, but difficult to describe in words. Islamically aligned corporate governance principles that apply to Islamic banking are dubbed as Shari'ah corporate governance. Corporate governance is essential to achieve optimal performance of any company. Without good corporate governance principles, a company could be described as a boat withour a rudder, which has no mission and vision to achieve.

  • corporate_governance_practices_and_firms_performance_zulkarnain.pdf.jpg
  • Journal Article


  • Authors: Shabnam Mohamad Mokhtar; Zulkarnain Muhamad Sori; Mohamad Ali Abdul Hamid; Zaharuddin Zainal Abidin; Azhar Mohd Nasir; Abu Sofian Yaacob; Hasri Mustafa (2009)

  • This paper examines the relationship between corporate governance practices and company performance. In this study, a Mann-Whitney U test was performed to compare the performance between 5 Malaysian companies that practice good corporate governance and 5 Malaysian companies that did not practice good corporate governance. A study by Standard & Poor's in 2004 was the main source to identify companies practicing good corporate governance and vice versa. Financial ratios namely return on assets, return on equity, earnings per share and profit margin were used as a measure of company performance. It is found that there is no difference in performance between companies that practice good c...

  • corporate_governance_practices_in_malaysia.pdf.jpg
  • Book


  • Authors: Zulkarnain Muhamad Sori; Ridzwana Mohd Said; Mazrah Malek; Rosmila Senik (2012)

  • This book contains 17 chapters contributed by authors specializing in the related areas. The objective of the book is to disseminate research findings and ideas on corporate governance issues including environmental highlights from empirical works and literature reviews. This book will provide bases of reference for companies in enhancing their governance practices as well as for future researchers.

  • Corporate_social_responsibility_contribution_socio_economic_development_Aishath et al.pdf.jpg
  • Journal Article


  • Authors: Aminudin Ma'ruf; Shahbaz Alam; Aishath Muneeza (2020)

  • Islamic banks play a significant role in social and environmental responsibility. It is known that Islamic finance is not merely profit-oriented but also looking at the prosperity of the society, as an ethical financial system Islamic finance give a massive contribution towards social responsibility. This exploratory study examines the relations between corporate social responsibility (CSR) practices of Indonesian Islamic banks and socio-economic development. The evidence presented is based on the published annual reports of 13 Islamic commercial banks in 2017. The findings of this research suggests that CSR is a priority of Indonesian Islamic banks and has correlation to the socio-ec...

  • item.jpg
  • PhD


  • Authors: Muhammad Umar Islam (2019)

  • Globally, the awareness about sustainability has increased due to the lingering environment, social and governance-related issues. In this perspective, the role of social media and consumer awareness are important since they influence the corporate sector to care for sustainable development. Banks, being very important to the economy, contribute to sustainability through their internal (through governance, data security, etc.) and external (through environment-friendly loans , financial inclusion, etc.) practices. These practices are collectively called as environment, society, and governance (ESG) sustainability. ESG practices by banks are important since they operate on public funds...

  • corporate_waqf_vehicle_islamic_microfinance_magda_2015.pdf.jpg
  • Industry Article


  • Authors: Ismail Abdel Mohsin, Magda (2015)

  • Ever since the 1970s, microfinance has become one of the schemes for poverty eradication and economic redevelopment strategies around the world. The main objective of this microfinance scheme is to eradicate poverty through financing the unemployed or low-income individuals or groups who are usually outside the formal banking system. Later on after the 1970s, millions of people from different countries, including Muslim countries, were accessing services from formal and semi-formal microfinance institutions (MFIs). All of a sudden, it has become a vast global industry involving a large number of governments, financial institutions and non-governmental organizations (NGOs) aiming to er...

  • Corporate_waqf_via_initial_public_offering_(IPO)_Mahadi_Noor_Sa'id Adekunle.jpg.jpg
  • Research Monograph


  • Authors: Mahadi Ahmad; Noor Suhaida Kasri; Sa'id Adekunle Mikail; Mohamed Ibrahim Negasi (2020)

  • The need for sustainable funding of institutions of higher learning led the Government of Malaysia to formulate its Universities Transformation Programme 2015-2025. This transformation agenda came out as the Purple Book which highlighted the need to address the funding gap that may occur in the education sector in the event of unexpected budget cuts. It called for the enhancement of income generation, endowments and waqf to achieve self-sustainability for higher learning institutions (Ministry of Higher Education Malaysia, 2016). Based on the above premise, this research explores the viability of corporate waqf via initial public offering (IPO) as an instrument to raise funds and sus...

  • corporate waqf from principle to practice_magda.pdf.jpg
  • Book


  • Authors: Ismail Abdel Mohsin, Magda (2014)

  • The institution of waqf is a historical institution adopted and developed by Muslims to get closer to Allah (s.w.t.) by providing different services to their societies and communities. This institution provides many goods and services such as education, healthcare, national security, different kinds of agricultural and industrial products, transportation facilities and basic infrastructure without any cost to the government. However, the last century, namely at the end of the Ottoman Empire, witnessed the destruction of this institution and its role was replaced and carried out by the governments in the Muslim countries, a move that exhausted the government's budget. Available in p...

  • item.jpg
  • Journal Article


  • Authors: Mughees Shaukat; AbdelKader Ouatik El Alaoui; Abdeslame Lasri; Syed Othman Alhabshi (2013)

  • The recent surge in demand for Shariah compliant instruments alongside the launch of Dow Jones City group Sukuk Index in 2006 has further catalyzed the increase in the number of issuance of global Islamic Sukuk. Saudi Arabia, UAE and Qatar have become major issuers of global Sukuk which are highly demanded by investors. The normal rationale given behind such behavior might be the religious commitments to involve in riba free investments. However, it is worth testing that is it only religious commitments that are driving the demand or there may be some other factors contributing to this surge. Realizing that the majority of global Sukuk issuance is from the oil exporter countries, one ...