International Journal of Economics, Finance and Management Sciences

Special Issue

Islamic Finance System and Economic Growth: Theory and Empirical Studies

  • Submission Deadline: 30 July 2015
  • Status: Submission Closed
  • Lead Guest Editor: Tarek Sadraoui
About This Special Issue
The development of Islamic Economy in world has entered into its third phase. Islamic Bank for instance, with the age of 30th years of operation, he efforts are channeled towards strengthening financial institutions to better serve not only the local but also international markets. Towards this end, innovation, reengineering and research are also strongly being promoted.

Islamic finance bans interest, gambling and speculation. Minority of people know that it also promotes the kind of focus on partnership and productive investment that seems to have been missing from the global boom of the first decade of the 21st century. Islamic financial system could help stabilize the global economy, thanks to its nature: - Financial assets grow in step with growth in real economic activities. - Potential for excessive speculation is reduced. - Social and ethical responsibilities are embedded in the investment activities. - Maintaining genuine liquidity adds to the stability of the financial service institutions. - Natural economic growth is sustained.


1. To discuss theoretical and applied research related to the Islamic Economic System from different areas of research.
2. To analyze current issues and challenges in the world today and to determine the relationship between sustainable development and Islamic Economic system.
3. To bring local and international scholars together for the exchange of ideas and to assess the current state of knowledge and development of the discipline in theory and practice.
Lead Guest Editor
  • Tarek Sadraoui

    Quantitative Methods, Higher Institute of Society Administration, Gafsa University, Tunisia, Tunisia

Guest Editors
  • sheila htay

    , Myanmar

Published Articles
  • Takaful (Islamic Insurance): When We Started and Where We are Now

    Syed Ahmed Salman , Hafiz Majdi Ab. Rashid , Sheila Nu Nu Htay

    Issue: Volume 3, Issue 5-2, September 2015
    Pages: 7-15
    Received: 28 April 2015
    Accepted: 3 May 2015
    Published: 21 August 2015
    DOI: 10.11648/j.ijefm.s.2015030502.12
    Abstract: The idea and practice of Takaful is not new as it was practiced during the time of the Prophet Muhammad (PBUH) by its adoption of the concept of Aqilah. Due to the complex nature of business activities and evolving human needs, Takaful is now fully commercialised and is an important part of the financial markets. Since it is important in our daily ... Show More
  • A Dynamic Panel Data Analysis for Islamic Finance and Economic Growth

    Tarek Sadraoui , Hanen Hleli

    Issue: Volume 3, Issue 5-2, September 2015
    Pages: 1-6
    Received: 9 April 2015
    Accepted: 10 April 2015
    Published: 21 August 2015
    DOI: 10.11648/j.ijefm.s.2015030502.11
    Abstract: This paper examines the dynamic interactions between Islamic Finance and economic growth by employing panel data econometrics, the Cointegration test and Unit root tests to see whether the financial system influences growth and growth transforms the operation of the financials system in the long-run. We use panel data of total Islamic bank financin... Show More