Special Issue "Role of Islamic Finance in Modern Economy"
A special issue of Economies (ISSN 2227-7099).
Deadline for manuscript submissions: 31 December 2023 | Viewed by 3424
Interests: corporate governance; corporate finance; Islamic accounting and economics and finance; accounting and economics and finance; market efficiency; financial markets
Interests: corporate governance; financial accounting; finance; sustainable finance; financial inclusion; banking; financial economics; firm sustainability (ESG); panel data econometrics
Interests: corporate narrative reporting; international financial reporting standards (IFRS); accounting and auditing organization for islamic financial institutions (AAOIFI); extensible business reporting language (XBRL); market-based accounting research; auditing, corporate governance; earnings management; corporate investment efficiency; corporate finance; islamic accounting and finance
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Traditional finance has introduced efficiency and sustainability along with its profit maximisation approach. However, Islamic finance is also a need of the modern era. The reason for this is that Islam has become the world’s fastest-growing religion in the 21st century.
After many financial meltdowns, the world has realised the importance of fairness, trustfulness, and transparency and has given equal attention to all indirect owners, which is also the basis of Islamic finance. Islamic finance prohibits exploitation of any factor of production and emphasises an equal distribution of wealth among all stakeholders without compromising the rule of equity and fairness. However, with the passage of time, scholarly research has highlighted the role of Islamic finance and its instruments in introducing prosperity for the masses and accountability for stakeholders. On one side, there is a need to observe the role of interest-free finance in reducing the cost of doing business and mobility of financial resources. Along with it, the role of interest-free finance is also needed to re-explore reducing the share of the shadow economy and improving economic growth by introducing efficiencies to the supply side and consumption side of economy. Similarly, there is also a need to address the issues of how the Islamic mode of finance can be made simpler for the better mobility of resource globally. Although the concept of socially responsible investment seems more relevant, working on Islamic finance while complying with Sharia principles can also pay a vital role in introducing fairer practices in business firms across the globe while helping to reduce the shadow economy and improving resource mobilisation.
Dr. Mamdouh Abdulaziz Saleh Al-Faryan
Dr. Zahid Irshad Younas
Prof. Dr. Khaled Hussainey
Manuscript Submission Information
Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.
Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.
Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.
- islamic finance
- shadow economy
- resource mobilisation