Abstract Documented evidence on conventional bond markets shows negative market reaction to bond credit rating downgrade and no reaction to credit rating upgrade. Despite the fact that sukuk issuances make […]

Abstract This paper aims to discuss the use of financial technology in waqf (Islamic endowment) for funding religious and social causes. It is believed that waqfintech could reach a wider […]

Abstract Merton has proposed a model for contingent claims on a firm as an option on the firms value, and is based on a generalization of the Black-Scholes stochastic equation […]

Abstract Even though large banks could imply large risks and heightened vulnerability for a country’s macroeconomy, the presence of many small banks with similar behavior such as Islamic banks could […]