IES Journal

About the IES Journal

The Islamic Economic Studies (IES) Journal publishes leading research across all fields of Islamic Economics and Finance. Established in 1414 Hijri (1993), it is one of the oldest and most respected scholarly journals in the Islamic Economics and Islamic Finance profession. IES is invaluable to professional and academic economists and students.
The IES Journal is published semi-annually, in January and June. It is a peer reviewed and refereed journal that maintains high academic standards. It is included in the Abstracting Services CD-ROM indexing of the Journal of Economic Literature published by the American Economic Association. References and citations are allowed but must be properly acknowledged. Anyone seeking to reprint material from the IES must obtain prior written consent of IRTI.
The IES Journal is indexed/cited in RePEc and Google Scholar.

Aims and Scope

The Islamic Economic Studies Journal aims to publish research contributing to the development of theory, practice, and policy making in Islamic Economics and Finance. It therefore intends to create an interface between academic research and its practical application. The journal welcomes theoretical, technical, and applied articles that draw on all areas of Islamic Economics and Finance.

The IES Journal covers areas that include but not limited to:

Theory of Islamic Economics and Finance, Consumption, Production, Education, Zakah, Waqf, Poverty, Political Economy, Public Finance, Monetary Economics, History of Economic Thought and Economic History, Economic Development, Maqasid al-Shariah, Institutional Economics, Game Theory, Behavioral Economics and Finance, Islamic Finance, Islamic Banking, Corporate Governance, Risk Management, Shariah issues, Financial Products, Financial Engineering, Securitization and Sukuk, Islamic Capital Markets, Insurance and Takaful, Regulatory Issues, Corporate Social Responsibility, Legal, Fiqh, and Regulatory issues, Smart Economy, Smart Finance and the related issues.

Peer Review

The IES Journal operates a double-blind peer review model. All articles undergo an initial assessment by the journal editor. If they are considered suitable for peer review, articles will then be a reviewed by two external reviewers to assess the suitability for publication. Final responsibility for editorial decisions rest with the Journal editor.

Open Access

All articles published in the IES Journal are published Open Access under a CC BY 4.0 license (more information is available here).

Publishing Services Partnership

The Islamic Economic Studies Journal is published by Emerald Group Publishing on behalf of the Islamic Research and Training Institute (IRTI), a member of the Islamic Development Bank Group (IsDB). The Journal is published under a platinum OA arrangement, in that all charges for publishing an OA article in the Journal are funded by the Islamic Research and Training Institute (IRTI). There is no charge to the author.
Submission of a paper will be held to imply that it contains original unpublished work and is not being submitted for publication elsewhere. The IES Style Guidelines, the Manuscript Submission Guidelines, Ethical Guidelines, and Editorial Policy, are available under the tab ‘Journal Policies’.

Editorial Team

  • Editor-in-Chief: Salman Syed Ali
    Islamic Research and Training Institute (IRTI)
    Saudi Arabia
  • Editor: Turkhan Ali Abdul Manap
    Islamic Research and Training Institute (IRTI)
    Saudi Arabia

Editorial Advisory Board

  • Sami Al-Suwailem
    Islamic Research and Training Institute (IRTI), Saudi Arabia
    Email: Sami@isdb.org
  • Habib Ahmed
    Durham University Business School, Durham University, UK
    Email: habib.ahmed@durham.ac.uk
  • Mohammad Kabir Hassan
    Department of Economics and Finance
    University of New Orleans, USA
    Email: mhassan@uno.edu
  • Mansor H. Ibrahim
    International Center for Education in Islamic Finance (INCEIF), Malaysia
    Email: mansorhi@inceif.org
  • Mervyn Lewis
    University of South Australia Business School, Australia
    Email: Mervyn.Lewis@unisa.edu.au
  • Philip Molyneux
    College of Business Administration, University of Sharjah, UAE
    Email: pmolyneux@sharjah.ac.ae
  • Volker Nienhaus
    University of Marburg (Retired), Germany
    Email: volker.nienhaus@gmx.net
  • Sayyid Tahir
    International Institute of Islamic Economics, International Islam University Islamabad, Pakistan
    Email: sayyid.tahir@iiu.edu.pk
  • Salman Syed Ali
    Islamic Research and Training Institute (IRTI), Saudi Arabia
    Email: SSyedAli@isdb.org
  • Turkhan Ali Abdul Manap
    Islamic Research and Training Institute (IRTI), Saudi Arabia
    Email: Turkhanali@isdb.org

IES Journal

 

Volume Type Papers
Vol. 27, No. 1Safar 1441H(October 2019) Articles A model of the Islamic sovereign wealth fund By Salman Bahoo and M. Kabir Hassan and Andrea Paltrinieri and Ashraf Khan

Does doing good pay off? Social impact bonds and lessons for Islamic finance to serve the real economy By Syed Marwan and Mohamed Aslam Haneef

Innovative solutions to tap “Micro, Small and Medium Enterprises” (MSME) market - A way forward for Islamic banks By Muhammad Mohsin Hakeem

Reciprocity, self-interest and reputation: debt vs equity contracts By Syed Munawar Shah and Mariani Abdul-Majid

Performance of initial public offerings (IPOs): the case of Shariah-compliant companies By Nurwahida Yaakub and Mohamed Sherif

Vol. 26, No. 2Jumada I 1440H(January 2019) Articles Analysis of Sharī‘ah Based Equity Screenings: Developing a Sharī‘ah-Compliant Index for Qatar Stock Exchange By Monzer Kahf and Eman Mohammed Al-Hajjaji (DOI: 10.12816/0052876)

Co-Movement and Volatility Transmission between Islamic and Conventional Equity Index in Bangladesh By Md Abu Hasan (DOI: 10.12816/0052877)

The Role of Entrepreneurial Empowerment in the Relationship between Islamic Microfinance and Well-being of Clients: A View from a Service Provider By Usman A.S., Tasmin. R and Ulum Z.K.A.B (DOI: 10.12816/0052878)

Achieving Sustainable Impact of Zakah in Community Development Programs By Mohamad Soleh Nurzaman and Fika Khanifa Kurniaeny

Full Volume Full Volume
Vol. 26, No. 1Shawwal 1439H(July 2018) Articles Risk, Return, and Profit-Loss Shared Lending under a Zero-Interest Financial System By Shafi A. Khaled

Managing Climate Change: Role of Islamic Finance By Mohammed Obaidullah

Factors Influencing Customers’ Acceptance Towards Diminishing Partnership Home Financing: A Study of Pakistan By Imran Mehboob Shaikh, Kamaruzaman Noord and Ahmed Alsharief

Innovative Islamic Social Finance for Housing Microfinance By Zamir Iqbal and Friedemann Roy

Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Full Volume Full Volume
Vol. 25, No. 3Rabi II 1439H(January 2018) Articles Beyond Good Practices and Standards: An Islamic Framework of Sustainable Business Practices for Corporate Organisation by Abdulgafar Olawale Fahm
Macro and Micro-level Indicators of Maqāṣid al- Sharī‘ah in Socio-Economic Development Policy and its Governing Framework by Hazik MohamedWhat’s In It for Me? Profiling Opportunity Seeking Customers in Malaysian Islamic Banking Sector by Ousmane Seck and Abdul Ghaffar Ismail
Book Review Book Review
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Full Volume Full Volume
Vol. 25, No. 2Shawwal 1438H(July 2017) Articles The Looming International Financial Crisis: Can the Introduction of Risk Sharing in the Financial System as Required by Islamic Finance, Play a Positive Role in Reducing its Severity? By M Umer Chapra

Determination of Mark-Up Rate under Zero-Interest Financial System: A Microeconomic Approach By Shafi A. Khaled and A. Wahhab Khandker

Risk-Sharing Securities: Accelerating Finance for SMEs By Siti Muawanah Lajis

Events and Reports Events and Reports
Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Full Volume Full Volume
Vol. 25, Special IssueRajab 1438H(April 2017) Articles Exploring The Potentials of Diaspora Ṣukūk for OIC Member Countries By Abdou Diaw

Is it costly to introduce SRI into Islamic portfolios? By Erragragui Elias

From Screening to Compliance Strategies: The Case of Islamic Stock Indices with Application on “MASI” By Ali Kafou and Ahmed Chakir

Toward Developing a Model of Stakeholder Trust in Waqf Institutions By Rashedul Hasan and Siti Alawiah Siraj

Ethical Banking and Islamic Banking A Comparison of Triodos Bank and Islami Bank Bangladesh Limited By Tariqullah Khan and Amiirah Bint Raffick Nabee Mohomed

Corporate Social Responsibility of Islamic Banks in Malaysia: Arising Issues By Wan Noor Hazlina Wan Jusoh and Uzaimah Ibrahim

Key Points from Conference Communique Key Points from Conference Communique
Cumulative Index of Papers Cumulative Index of Papers
Full Volume Full Volume
Vol. 24, No. 2Rabi’ Al Awal 1438H(December 2016) Articles An Economic Theory of Islamic Finance Regulation By Mabid Ali M. M. Al-Jarhi

The Relation between Return and Volatility in ETFs Traded in Borsa Istanbul: Is there any Difference between Islamic and Conventional ETFs? By M. Kabir Hassan, Selim Kayhana and Tayfur Bayatb

Sharī‘ah and SRI Portfolio Performance in the UK: Effect of Oil Price Decline By Nur Dhani Hendranastiti

Full Volume

Resolution of (OIC) Fiqh Academy Resolution of (OIC) Fiqh Academy
Events and Reports Events and Reports
Translation of Arabic Abstracts in Dirasat Iqtisadiah Islamiah Translation of Arabic Abstracts in Dirasat Iqtisadiah Islamiah
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Vol. 24, No. 1Shabaan 1437H(June, 2016) Articles An Evaluation of Islamic Monetary Policy Instruments Introduced in Some Selected OIC Member Countries By Md. Abdul Awwal Sarker

Research Trends on Zakāh in Western Literature By Ahmed Belouafi and Abderrazak Belabes

Critical Review of the Tools of Ijtihād Used in Islamic Finance By Abdulazeem Abozaid

An Assessment of Journal Quality in the Discipline of Islamic Economics By M Nahar Mohd Arshad

Full Volume

Resolution of (OIC) Fiqh Academy Resolution of (OIC) Fiqh Academy
Book Review Book Review
Events, Reports and New Publications Events, Reports and New Publications
Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Vol. 23, No. 2Muharram 1437H(November 2015) Articles The Genesis of Islamic Economics Revisited By Abdul Azim Islahi

Instability of Interest Bearing Debt Finance and the Islamic Finance Alternative By Mughees Shaukat & Datuk Othman Alhabshi

Risk Sharing and Shared Prosperity in Islamic Finance By Nabil Maghrebi & Abbas Mirakhor

Full Volume

Resolution of (OIC) Fiqh Academy Resolution of (OIC) Fiqh Academy
Events and Reports Events and Reports
Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Vol. 23 No. 1Rajab 1436H(May 2015) Articles Tradable Inventory Certificates: A Proposed New Liquidity Instrument By Monzer Kahf & Mahah Mujeeb Khan

Product Development and Maqasid in Islamic Finance: Towards a Balanced Methodology By Muhammad Al-Bashir Al-Amine

Assessing Socio-Economic Development based on Maqasid al-Shari'ah Principles: Normative Frameworks, Methods and Implementation in Indonesia By Rahmatina Kasri & Habib Ahmed

Enhancing Intra-Trade in OIC Member Countries Through T-SDRs By Mahmoud Sami Nabi, Rami Abdelkafi, Imed Drine & Sami Al-Suwailem

Full Volume

Events and Reports The 10th International Conference on Islamic Economics and Finance

Policy Roundtable and Workshop-3 on Maqasid Al-Shariah Based Socio-Economic Development Index

Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah Arabic Abstracts
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications IRTI Publications
Vol. 22, No. 2Muharram 1435H(November 2014) Articles Maqasid al-Shari'ah: Are We Measuring The Immeasurable? By Rafi Amir-Ud-Din

Non-Monetary Poverty Measurement in Malaysia: A Maqasid al-Shari'ah Approach by Mohamed Saladin Abdul Rasool & Ariffin Mohd Salleh

A Structural Model for Human Development, Does Maqasid al-Shari'ah Matter! By Medhi Mili

Socio-Economic Philosophy of Conventional and Islamic Economics: Articulating Hayat-e-Tayyaba Index (HTI) on the Basis of Maqasid al-Shari'ah by Muhammad Mubashir Mukhtar, et al.

Islamic Wealth Management and the Pursuit of Positive-Sum Solutions by Mohammad Omar Farooq

Full Volume

Events and Reports 9th IDB Global Forum on Islamic Finance

Seminar/Workshop on Maqasid al-Shari'ah based Index Part-2

Obituary: Veteran Islamic Economist Dr. Ziauddin Ahmad

Book Review Islamic Microfinance for Sustainable Development

Morality and Justice in Islamic Economics and Finance

Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah Arabic Abstracts
Cumulative Index of Papers Cumulative Index of Papers
List of IRTI Publications List of IRTI Publications
Vol. 22, No. 1Rajab 1435H(May 2014) Articles Understanding Development in an Islamic Framework

Islamic Finance in the United Kingdom: Factors Behind its Development and Growth

Integrating Zakat and Waqf into the Poverty Reduction Strategy of the IDB Member Countries

An Attempt to Develop Shari[ah Compliant Liquidity Management Instruments for the Financier of Last Resort: The Case of Qatar

Efficiency Measure of Insurance v/s Takaful Firms Using DEA Approach: A Case of Pakistan

An Empirical Study of Islamic Equity as a Better Alternative during Crisis Using Multivariate GARCH DCC

Public Sector Funding and Debt Management: A Case for GDP-Linked Sukuk

Portfolio Determination of A Zero-Interest Financial System Entity

Full Volume

Events and Reports Events and Reports
Book Review Economic Development and Islamic Finance
In Focus: IRTI's Recent Publications IRTI Recent Published Book and Report
Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah Arabic Abstracts
Resolutions of OIC Fiqh Academy Resolution of OIC Fiqh Academy
Cumulative Index of Papers Cumulative Index of Papers
Vol. 21, No. 2 Muharram 1435H (November 2013) Articles Fiscal and Monetary Policies in Islamic Economics: Contours of an Institutional Framework

Are Islamic Banks Sufficiently Diversified? An Empirical Analysis of Eight Islamic Banks in Malaysia

Trade and Human Development in OIC Countries: A Panel Data Analysis

Economic and Financial Crises in Fifteenth-Century Egypt: Lessons from the History

Full Volume

Events and Reports Events and Reports
In Focus: IRTI's Recent Publications The Role of Islamic Finance in the Development of the IDB Member Countries: A Case Study of the Kyrgyz Republic and Tajikistan
Book Review Shari'ah Maxims Modern Applications in Islamic Finance
Vol. 21, No. 1Rajab 1434H (June 2013) Articles Redefining Islamic Economics as a New Economic Paradigm

Why is Growth of Islamic Microfinance Lower than its Conventional Counterparts in Indonesia?

State of Liquidity Management in Islamic Financial Institutions

Full Volume

Resolution of OIC Fiqh Academy Resolution of OIC Fiqh Academy
Events and Reports Events and Reports
In Focus: IRTI's Recent Publications Credit Risk Transfer
Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah in Vol. 19 No.1 Arabic Abstracts
Vol. 20, No. 2Muharram 1433H(December 2012) Articles Targeting and Socio-Economic Impact of Microfinance: A Case Study of Pakistan

Dual Banking and Financial Contagion

The Role of Islamic Finance in Enhancing Financial Inclusion in Organization of Islamic Cooperation (OIC) Countries

Full Volume

Resolution of OIC Fiqh Academy Resolution of OIC Fiqh Academy
Events and Reports Events and Reports.ICM Conf & Others
In Focus: IRTI's Recent Publications In Focus: IRTI's Recent Publications
Abstracts of Articles Published in Darasat Iqtisadiah Islamiah in Vol. 18 No.2 Arabic Abstracts
Vol. 20, No. 1Rajab 1433H (June 2012) Articles Islamic Banking in the Middle-East and North-Africa (MENA) Region

Measuring Operational Risk Exposures in Islamic Banking: A Proposed Measurement Approach

Leverage Risk, Financial Crisis and Stock Returns: A Comparison among Islamic Conventional and Socially Responsible Stocks

Full Volume

Resolution of OIC Fiqh Academy Resolution of OIC Fiqh Academy
Events and Reports Housing Workshop & Zakah Management
Vol. 19, No. 2Muharram 1432H(December 2011) Articles Role of Finance in Achieving Maqid Al-Shari'ah

Comprehensive Human Development: Realities and Aspirations

Decision Making Tools for Resource Allocation based on Maqasid Al-Shari'ah

Introducing an Islamic Human Development Index (I-HDI) to Measure Development in OIC Countries

Full Volume

Events and Reports IDB Prize Lecture: Challenges of Regulation and Supervision of Islamic Ban
In Focus: IRTI's Recent Publications Build Operate and Transfer (BOT) Method Of Financing From Shari'ah Perspective
Vol. 19, No. 1Rajab 1432H(June 2011) Articles Certain Legal and Administrative Measures for the Revival and Better Management
of Awqaf
Profit Sharing Investment Accounts--Measurement and Control of Displaced Commercial Risk (DCR) in Islamic FinanceRisk Management Assessment Systems: An Application to Islamic BanksFull Volume
Events and Reports Report on 6th IDB Global Forum on Islamic Finance

Report on IDB Prize Laureate Lecture

In Focus: IRTI's Recent Publications Islamic Finance For Micro And Medium Enterprises

Handbook Of Islamic Economics

Abstracts of Articles Published in Dirasat Iqtisadiah Islamiah

Vol. 18, No. 1 & 2Rajab 1431H(June 2010)
Muharram 1432
(January 2011)
Articles Solvency of Takaful Fund: A Case of Subordinated Qard By Abdussalam Ismail Onagun

The Process of Shari'ah Assurance in the Product Offering: Some Important Notes for Indonesian and Malaysian Islamic Banking Practice By AgusTriyanta and Rusni Hassan

The Effect of Market Power on Stability and Performance of Islamic and
Conventional Banks By Ali Mirzaei

Full Volume

Events and Reports Report 5th IDB Global Forum on Islamic Finance, Baku, Azerbaijan
Vol. 17, No. 2Rajab 1431H(June 2010) Articles Faith-Based Ethical Investing: The Case of Dow Jones Islamic Indexes by M Kabir Hassan and Eric Girad

Islamic Finance in Europe: The Regulatory Challenge by Ahmed Belouafi and Abderrazak Belabes

Contemporary Islamic Financing Modes between Contract Technicalities and Shariah Objectives by Abdulazeem Abozaid

Events and Reports 3rd International Conference on Islamic Banking and Finance: Risk Management, Regulations and Supervision
Book Review Mohammed Obaidullah and Tariqullah Khan: Microfinance Development - Challenges and Initiatives

M. UmerChapra: The Islamic Vision of Development in the Light of the Maqasid Al-Shari'ah

Vol. 17, No. 1Rajab 1430H(June 2009) Articles Shari'ah Position on Ensuring Presence of Capital in Joint Equity Based
Financing By Muhammad Abdurrahman Sadique
The Impact of Demographic Variables on Libyan Retail Consumers' Attitudes Towards Islamic Methods of Finance By Alsadek Hesain A. GaitA Shari'ah Compliance Review on Investment Linked Takaful in Malaysia By Azman Mohd Noor
Vol. 16, No. 1 & 2Rajab 1429H & Muharram 1430H

(July 2008 & January 2009)

Articles Ethics and Economics: An Islamic Perspective By M. UmerChapra

Madaris Education and Human Capital Development with Special Reference to Pakistan By Mohammad Ayub

Islamic Finance - Undergraduate Education By Sayyid Tahir

Islamic Finance Education at the Graduate Level: Current State and Challenges By Zubair Hasan

Vol. 15, No. 2Muharram 1429H
(January 2008)
Articles Sukuk Market: Innovations and Challenges, 1-22. By Muhammad Al-Bashir Al Amine

Cost, Revenue, and Profit Efficiency of Islamic Versus Conventional Banks: International Evidence Using Data Envelopment Analysis, 23-76. By M. Khaled I. Bader, Shamsher Mohamad, Mohamed Ariff and Taufiq Hassan

Discussion Papers The Impact of Consolidation on Islamic Financial Services Industry 79-103. By Zamir Iqbal
Vol. 15, No. 1Rajab 1428H
(July 2007)
Articles Theory of Firm: Management and Stakeholders: An Islamic Perspective 1-30. By Toseef Azid, Mehmet Asutay and Umar Burki

On Corporate Social Responsibility of Islamic Financial Institutions, 31-46. By Sayd Farook

Shari'ah Compliant Equity Investments: An Assessment of Current Screening Norms, 47-76. By M. H. Khatkhatay and ShariqNisar

Vol. 14, No. 1 & 2 Rajab 1427H &
Muharram 1428H (August 2006 & January 2007)
Articles Financial Distress and Bank Failure: Lessons from IhlasFinans Turkey, 1-52. By Salman Syed Ali

The Efficiency of Islamic Banking Industry: A Non-Parametric Analysis with Non-Discretionary Input Variable, 53-87. By Fadzlan Sufian

Discussion Papers Pre-requisite for Effective Integration of Zakah into Mainstream Islamic
Financial System in Malaysia, 91-107. By Abdul Rahim Abdul Rahman
Book Review Zubair Hasan's Book "Introduction to Microeconomics: An Islamic Perspective", 117-119. Reviewed by Professor Rodney Wilson
Vol. 13, No. 1 & 2 Muharram 1427H
(February 2006)
Articles Islamic Banking and Finance in Theory and Practice: A Survey of State of the Art, 1-48. By Mohammad Nejatullah Siddiqi

The X-Efficiency in Islamic Banks. 49-77. By M. Kabir Hassan

Islamic Law, Adaptability and Financial Development, 79-101. By Habib Ahmed

Vol. 13, No. 1 &
Vol. 12, No. 2Muharram & Rajab 1426H
(February & August 2005)
Articles The Case for Universal Banking as a Component of Islamic Banking, 1-65. By Mabid Ali Al-Jarhi

Impact of Ethical Screening on Investment Performance: The Case of The Dow Jones Islamic Index, 69-97. By Abul Hassan, Antonios Antoniou, and D Krishna Paudyal

Vol. 12, No. 1
Rajab 1425H (August 2004)
Articles Efficiency in Islamic Banking: An Empirical Analysis of Eighteen Banks, 1-19. By Donsyah Yudistira

Ethical
Investment: Empirical Evidence from FTSE Islamic Index, 21-40. By Khaled Hussein

Vol. 11, No. 2
Muharram 1425H (March 2004)
Articles  

Remedy for Banking Crises: What Chicago and Islam have in common, 1-22. By Valeriano F. Garcia, Vicente Fretes Cibils and Rodolfo Maino

Remedy for Banking Crises: What Chicago And Islam Have in Common: A Comment, 23-42. By Mabid Ali Al-Jarhi

Stakeholders Model of Governance in Islamic Economic System, 43-63. By Zamir Iqbal and Abbas Mirakhor

Comments on Stakeholders Model of Governance in Islamic Economic System, 65-74. By M. Umer Chapra

Comments on Stakeholders Model of Governance in Islamic Economic System, 65-74. By Mohammad Obaidullah

Vol. 11, No. 1
Rajab 1424H (September 2003)
Articles Dividend Signaling Hypothesis and Short-term Asset Concentration of Islamic Interest Free Banking, 1-30. By M. Kabir Hassan

Determinants of Profitability in Islamic Banks: Some Evidence from the Middle East, 31-57. By Abdel-Hameed M. Bashir

Vol. 10, No. 2 Muharram 1424H (March 2003) Articles Credit Risk in Islamic Banking and Finance, 1-25. By Mohamed Ali Elgari
Discussion Papers Zakah Accounting and Auditing: Principles and Experience in Pakistan, 29-43. By Muhammad Akram Khan

The 1997-98 Financial Crisis in Malaysia: Causes, Response and Results - A Rejoinder, 45-53. By Zubair Hasan

Vol. 10, No. 1 Rajab 1423H (September 2002) Articles Financing Build, Operate and Transfer (BOT) Projects: The Case of Islamic Instruments, 1-36. By Tariqullah Khan
Discussion Papers Islam and Development Revisited with Evidences from Malaysia, 39-74. By Ataul Huq Pramanik
Vol. 9, No. 2
Muharram 1423H (March 2002)
Articles The 1997-98 Financial Crisis in Malaysia: Causes, Response and Results, 1-16. By Zubair Hasan
Discussion Papers Financing Microenterprises: An Analytical Study of Islamic Microfinance Institutions, 27-64. By Habib Ahmed
Vol. 9, No. 1
Rajab 1422H (September 2001)
Articles Islamic Economic Thought and the New Global Economy, 1-16. By M.Umer Chapra
Discussion Papers Financial Globalization and Islamic Financial Institutions: The Topics Revisited, 1938. By MasudulAlam Choudhury
Vol. 8, No. 2
Muharram 1422H (April 2001)
Articles Islamic
and Conventional Banking in the Nineties: A Comparative Study, 1-27. By Munawar Iqbal
An Economic Explication of the Prohibition of Gharar in Classical Islamic Jurisprudence, 29-58. By Mahmoud A. El-Gamal
Discussion Papers Interest and the Modern Economy, 61-74. By Arshad Zaman and Asad Zaman
Vol. 8, No. 1
Rajab 1421H (October 2000)
Articles Elimination of Poverty: Challenges and Islamic Strategies,1-16. By Ismail Siragedlin
Discussion Papers Globalization of Financial Markets and Islamic Financial Institutions, 19-67. By M. Ali Khan
Vol. 7, No. 1 & 2 Rajab 1420H & Muharram
1421H (October 1999 & April 2000)
Articles Islamic Quasi Equity (Debt) Instruments and the Challenges of Balance Sheet Hedging: An Exploratory Analysis, 1-32. By Tariqullah Khan
Discussion Papers Challenges and Opportunities for Islamic Banking and Finance in the West: The UK Experience, 35-59. By Rodney Wilson

Towards an Objective Measure of Gharar in Exchange, 61-102. By Sami Al-Suwailem

Vol. 6, No. 2 Muharram 1420H (May 1999) Articles Risk and Profitability Measures in Islamic Banks: The Case of Two Sudanese Banks, 1-24. By Abdel-Hamid M. Bashir
Discussion Papers The Design of Instruments for Government Finance in an Islamic Economy, 27-43. By Nadeemul Haque and Abbas Mirakhor
Vol. 6, No. 1
Rajab 1419H (November 1998)
Articles The Malaysian Economic Experience and Its Relevance for the OIC Member Countries, 1-42. By Mohamed Ariff

Awqaf in History and Its Implications for Modem Islamic Economies, 43-70. By Murat Cizakca

Discussion Papers Financial Engineering with Islamic Options, 73-103. By Mohammed Obaidullah
Vol. 5, No. 1 & 2 Rajab 1418H & Muharram
1419H (November 1997 & April 1998)
Articles The
Survival of Islamic Banking: A Micro-evolutionary Perspective, 1-19. By Mahmoud A. EI-Gamal
Discussion Papers Performance Auditing for Islamic Banks, 23-55. By Muhammad Akram Khan

Capital Adequacy Norms for Islamic Financial Institutions, 37-55. By Mohammed Obaidullah

Vol. 4, No. 2 Muharram 1418H (May 1997) Articles The Dimensions of an Islamic Economic Model, 1-24. By Syed Nawab Haider Naqvi
Discussion Papers Indirect Instruments of Monetary Control in an Islamic Financial System, 27-65. By Nurun N. Choudhry and Abbas Mirakhor

Istisnaa Financing of Infrastructure Projects, 67-74. By Muhammad AnasZarqa

The Use of Assets Ijara Bonds for Bridging the Budget Gap, 75-92. By Monzer Kahf

Vol. 4, No. 1
Rajab 1417H (December 1996)
Articles Monetary Management in an Islamic Economy, 1-34. By Muhammad Umer Chapra

Cost of Capital and Investment in a Non-interest Economy, 35-46. By Abbas Mirakhor

Discussion Papers Competition and Other External Determinants of the Profitability of Islamic Banks, 49-64. By Sudin Haron
Vol. 3, No. 2 Muharram 1417H (June 1996) Articles Rules for Beneficial Privatization: Practical Implications of Economic Analysis, 1-32. By William J. Baumol
Discussion Papers Privatization in the Gulf Cooperation Council (GCC) Countries: The Need and the Process, 35-56. By Fuad Abdullah AI-Omar

Towards an Islamic Approach for Environmental Balance, 57-77. By Muhammad Ramzan Akhtar

Vol. 3, No. 1 Muharram 1417H (December 1995) Articles Islamic Securities in Muslim Countries' Stock Markets and an Assessment of the Need for an Islamic Secondary Market,1-37. By Abdul Rahman Yousri Ahmed

Demand for and Supply of Mark-up and PLS Funds in Islamic Banking: Some Alternative Explanations, 39-77. By Tariqullah Khan

Towards an Islamic Stock Exchange in a Transitional Stage, 79-112. By Ahmad Abdel Fattah El-Ashkar

Discussion Papers The Interest Rate and the Islamic Banking, 115-122. By H. Shajari and M Kamalzadeh

The New Role of the Muslim Business University Students in the Development of Entrepreneurship and Small and Medium Industries in Malaysia, 123-134. By Saad Al-Harran

Vol. 2, No. 2 Muharram 1416H (June 1995) Articles Growth of Public Expenditure and Bureaucracy in Kuwait, 1-14. By Fuad Abdullah Al-Omar

Fiscal Reform in Muslim Countries with Special Reference to Pakistan, 15-34. By Munawar Iqbal

Resource Mobilization for Government Expenditures through Islamic Modes of Contract: The Case of Iran, 35-58. By Iraj Toutounchian

Discussion Papers An Overview of Public Borrowing in Early Islamic History, 61-78. By Muhammad Nejatullah Siddiqi

Public Sector Resource Mobilization in Islam, 79-107. By Mahmoud A. Gulaid

Vol. 2, No. 1
Rajab 1415H (December 1994)
Articles Islamic Banking: State of the Art, 1-33. By Ziauddin Ahmad

Comparative Economics of Some Islamic Financing Techniques, 35-68. By M. Fahim Khan

Discussion Papers Progress of Islamic Banking: The Aspirations and the Realities, 71-80. By Sami Hasan Homoud

Concept of Time in Islamic Economics, 81-102. By Ridha Saadallah

Development of Islamic Financial Instruments, 103-115. By Rodney Wilson

Vol. 1, No. 2 Muharram 1415H (June 1994) Articles Is Equity-Financed Budget Deficit Stable in an Interest Free Economy?, 1-14. By M. Aynul Hasan and Ahmed Naeem SiddiquiContemporary Practices of Islamic Financing Techniques, 15-52. By Ausaf Ahmad
Discussion Papers Financing and Investment in Awqaf Projects: A Non-technical Introduction, 55-62. By Mohammad Anas Zarqa

Limitation on the Use of Zakah Funds in Financing Socioeconomic Infrastructure, 63-78. By Shawki Ismail Shehata

Al-Muqaradah Bonds as the Basis of Profit-Sharing, 79-102. By Walid Khayrullah

Vol. 1, No.1

Rajab 1414H (December 1993)

Articles Towards an Islamic Stock Market, 1-20. By Mohamed Ali Al-Qari

Financial Intermediation in the Framework of Shari'ah, 21-35. By Hussein Hamed Hassan

Islamic Banking in Sudan's Rural Sector, 37-55. By Mohamed Uthman Khaleefa

Discussion Papers Potential Islamic Certificates for Resource Mobilization, 57-69. By Mohamed El-Hennawi

Agenda for a New Strategy of Equity Financing by the Islamic Development Bank, 71-88. By D. M Qureshi

Journal Policies

Four policy and guideline documents together define the overall policy and procedures followed by IES.

Manuscript Submission Guidelines

The Manuscript Submission Guideline (MSG) is a supporting document for editorial policy. This guideline has been made available to author(s) for their help in preparing the manuscript.
 Manuscript Submission Guidelines

Ethical Guidelines

The Ethical Guideline (EG) is a supporting document for editorial policy. This guideline is made available here for author(s) to inform and help them about the ethical considerations in preparing the manuscript.
 Ethical Guidelines

Editorial Policy

The Editorial Policy is a document that explains the scope of the journal, the procedures it follows in reviewing and refereeing the articles, defines the responsibilities and copyright arrangements.
 Editorial Policy

Style Guidelines

The style guidelines is a document that provides guide for formatting your article in IES publication style, making it ready for submission.
 Style Guidelines

Journal of Islamic Economic Studies

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Fax: +966 (0) 12 637 8927
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