Category Archives: Commentary

World of WealthCraft: Using a virtual hand to nurture Islamic finance growth

The Big Money suggests using  “massive, multiplayer, online role-playing games like World of Warcraft and Second Life….for studying economic behavior and testing economic-policy theories”. This would be interesting to see in Islamic finance. I don’t know of anyone that has attempted similar except for Dr. Sami al-Suwailem in his paper “Islamic Economics in a Chaotic […]

Insurance Regulation

Classically, scholars categorized contracts as being from one of three types. Commutative exchange (Mu’awaDat معاوضات) – Involving the voluntary exchange of good, services, and/or both for the purpose of trade. Includes: cash sales, bartering, and currency exchange. Charitable exchange (Tabaru’at تبرعات) – Involving the voluntary not-for-profit exchange of good, services, and/or both out of the […]