Edib Smolo

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The Global Financial Crisis and Its Implications for the Islamic Financial Industry

    Purpose – The purpose of this paper is to review the evolution of the global financial crisis, draw lessons from it, and analyse its effect(s) on the Islamic financial industry (IFI). Design/methodology/approach – Based on an extensive literature…


A Theory of Islamic Micro-Financial Institutions

Microfinance is seen as a ‘new paradigm’ for bringing about development and eradicating poverty. Many studies prove that the provision of small amounts of credit to the poor is crucial in this new paradigm. However, these studies mainly focus on…


A theory and Contractual Framework of Islamic Micro-financial Institutions’ Operations



International Convention For Islamic Finance: Towards Standardisation

Global Islamic finance is faced with many unresolved issues that demand urgent attention from all parties involved. One of the pressing issues is the lack of standardisation to face globalisation within the industry. An attempt is made herein to examine…

Research Paper

Reshaping the Islamic Finance Industry Applying the Lessons Learnt from the Global Financial Crisis

In the last 27 years, the world has witnessed more than 124 distinct financial crises. The financial meltdown caused by the current global financial crisis brought the financial world to its knees. This paper aims to discuss how the Islamic…

Research Paper

Musharakah Mutanaqisah and Legal Issues: Case Study of Malaysia

This paper explores home financing through musharakah mutanaqisah in Malaysia and possible legal issues. This paper explains that there are a few methods in the practice of implementing musharakah mutanaqisah legally. The first is where the customer is registered as…

Journal (English)

Islamic Pricing Benchmark

This research is a collaborative effort between ISRA and AIBIM in an endeavor to find a new pricing benchmark for Islamic finance instruments. This note summarizes the method that was adopted in conducting the research.

Journal (English)