​​​​​​​​​​​​​Working Papers​​​​​​


IRTI Working Paper Series has been created to quickly disseminate the findings of the work in progress and share ideas on the issues related to theoretical and practical development of Islamic economics and finance so as to encourage exchange of thoughts. The presentations of pape​​​​rs in this series may not be fully polished. The papers carry the names of the authors and should be accordingly cited. The views expressed in these papers are those of the authors and do not necessarily reflect the views of the Islamic Research and Training Institute or the Islamic Development Bank or those of the members of its Board of Executive Directors or its member countries.

2018-06​Does Religiosity Affect Multidimensional Poverty? Evidence from World Values Survey (2010-14)​Salman Syed Ali
Hamid Hasan
​​2018-05​The Basis for Legitimate Entitlement to Profit in Islamic LawNecmeddin Güneypdf-icon.png
​​2018-04Assessing Islamic Banking System Vulnerabilities in Pakistan: Evidence from 'Bankometer' Model​​Azam Ali
Muhamed Zulkhibri
Tanveer Kishwar
2018-03Bank Lending Behavior and Business Cycle in Dual Banking System: Evidence from Indonesia
Muhamed Zulkhibri
Muhammad Rizky 
Prima Sakti
​​2018-02​The Role of Ownership and Governance Mechanism in Sukuk Financing by Malaysian Firms: An Application of a Double Selection Model
​Dawood Ashraf
Muhammad Suhail Rizwan
Saad Azmat
​​2018-01Does the Application of Smart Beta Strategies Enhance Portfolio Performance? The Case of Islamic Equity Investments
Muhammad Wajid Raza
Dawood Ashraf​​
2017-08​​Inflation Dynamics in The Gambia​Tamsir Champdf-icon.png
2017-07​Determinants of Islamic Banking Growth: An Empirical Analysis​Tamsir Champdf-icon.png
​2017-06​Competition, Banking Stability and Growth: Evidence from the dual banking system in OIC countries​Wajahat Azmi
Turkhan Ali Abdul Manap
2017-05​Macroprudential Policy and Financing Behaviour in Dual Banking System: Bank-Level Evidence from Indonesia​Muhamed Zulkhibri
Muhammad Rizky Prima Sakti
​2017-04​Macroprudential Policy and Tools in a Dual Banking System: Insights from the Islamic Finance Literature
​Muhamed Zulkhibripdf-icon.png
2017-03 ​Financial Inclusion and Household Consumption: Case of NigeriaOusmane Seck
Ismaeel Ibrahim Naiya
Aliyu Dahiru Muhammad
2017-02Behavioral Dimensions of Islamic Philanthropy: The Case of Zakat​Mohammed Obaidullah
Turkhan Ali Abdul Manap
​2017-01​Competitiveness and Economic Integration in IDB Member Countries​Khalifa Mohammed Alipdf-icon.png
​​​ ​​​2016 ​ ​
​2016-13​Risk Management Practices in Islamic Banking Institutions: A Comparative Study between Nigeria and Malaysia​Aliyu Dahiru Muhammadpdf-icon.png
2016-12​Beyond Traditional Microfinance: Financial Inclusion for Unbanked Kenyans​Abdelrahman Elzahipdf-icon.png
2016-11​Are Islamic Banks Any Different in Financial Stability? An Empirical Investigation​Khalifa Mohamed Ali
Abdelrahman Elzahi
​2016-10​Are Islamic Banks Any Different in Financial Stability? An Empirical Investigation​Dawood Ashraf
Mohamed Ramady
Khalid Albinali
2016-09​Poverty Alleviation through Microfinance in North-East Kenya Province​Abdelrahman Elzahi​pdf-icon.png
​2016-08Islamic Financing and Bank Behaviour in a Dual Banking System: Evidence from Malaysia​Muhamed Zulkhibripdf-icon.png​​
2016-07Poverty Alleviation and Inclusive Development: Rethinking the Role of Private Sector​Muhamed Zulkhibripdf-icon.png
2016-06Conditional Cash Transfers in Developing Economy: The Case of Muslim Countries​Muhamed Zulkhibripdf-icon.png
2016-05Islamic Sukuk Default and Issues in Their Resolution: The Case of Villamar Sukuk​Salman Syed Alipdf-icon.png
2016-04What’s In It for Me? Profiling Opportunity Seeking Customers in Malaysian Islamic BankingOusmane Seck
​​Abdul Ghafar Ismail​
2016-03Financial Inclusion, Governance, and Institutions: Evidence from Developing Economies​​Muhamed Zulkhibri
Reza Ghazal
2016-02Assessment of Macroprudential Policy in a Dual Banking Sector​Muhamed Zulkhibri
Ismaeel Naiya
2016-01Financing Channel and Monetary Policy: Evidence from Islamic Banking in Indonesia​Muhamed Zulkhibri
Raditya Sukmana
1437​-04Growth Volatility and Export Diversity in OIC Countries​Salman Syed Alipdf-icon.png
1437-03Empowering the Poor through Islamic Microfinance: Experience of the Bank of Khartoum in Value Chain Project Financing in SudanSyed Hassan Alsagoff
Ahmad Ompo Surono
1437-02Can Islamic Philanthropy Increase Financial Inclusion?
Abdul Ghafar Ismail
Muhammad Hasbi Zaenal Umar Taufiq​
1437-01Islamic Finance, Financial Inclusion Policy and Financial Inclusion: Evidence from Muslim Countries​Muhamed Zulkhibripdf-icon.png
2015-12​Development of Islamic Banking Regulation in Selected IDB Member Countries: A Comparative AnalysisMuhamed Zulkhibri
Reza Ghazal
2015-11Financial Soundness Indicators and the Objectives of Shari’ah in Assessing the Stability of Islamic Banks​Abdul Ghafar Ismail
Ani Salwani Che Pa
2015-10​Banking Sector Stability in The GambiaTamsir Shampdf-icon.png
2015-09The Regulatory and Supervision Framework of Microfinance in Kenya​Abd Elrahman Elzahi Saaid Alipdf-icon.png
2015-08An Assessment of External Price Competitiveness for The GambiaTamsir Champdf-icon.png
2015-07​Integrated Internal-External Shariah Audit Model: A Proposal towards the Enhancement of Shariah Assurance Practices in Islamic Financial InstitutionsZurina Shafii
Ahmad Zainal Abidin
Supiah Salleh
2015-06The Market Timing Ability and Return Performance of Islamic Equities: an Empirical StudyNazeeruddin Mohammad
Dawood Ashraf 
2015-05Integration of Waqf and Islamic Microfinance for Poverty Reduction: Case of PakistanNasim Shah Shirazi
Mohammed Obaidullah
Mohamed Aslam Haneef
2015-04​Islamic Monetary Policy Instruments (IMPIs)Md. Abdul Awwal Sarkerpdf-icon.png
2015-03Determinants of Non Performing Financing in Indonesian Islamic BanksRaditya Sukmanapdf-icon.png
2015-02An Islamic Vision Development Based Indicators in Analysing the Islamic Banks Performance: Evidence from Malaysia, Indonesia and selected GCC Countries​​Siti Manisah Ngalim
Abdul Ghafar Ismail
2015-01​Waqf as Economic Matters but Being Left Out as Policy ToolsAbdul Ghafar Ismail
Bayu Taufiq Possumah
2014-20​Waqf for Poverty Alleviation: Challenges and OpportunitiesKhalifa Mohamed Alipdf-icon.png
2014-19​Integrating Zakah, Awqaf and Islamic Microfinance for Poverty Alleviation: Three Models Of Islamic Micro FinanceKhalifa Mohamed Alipdf-icon.png
Towards a Maqasid al-Shariah based Development Index.Salman Syed Ali 
Hamid Hasan
Why Poverty Reduction Programs of Pakistan Did Not Bring Significant Change: An Appraisal
Nasim Shah Shirazi Mohammed Obaidullah
The Effectiveness of Regulatory and Supervisory Framework of Islamic Microfinance in Sudan.Abd Elrahman Elzahi Saaid Alipdf-icon.png
2014-15​ A Framework for Analysis of Islamic Endowment (Waqf) LawsMohammed Obaidullahpdf-icon.png
2014-14Regulatory Framework for Member-Owned Islamic Microfinance Institution: Focus On Islamic Saving Groups and Cooperatives Sub-Saharan Africa (SSA)Nasim Shah Shirazi Muhammad-Bashir 
Owolabi Yusuf
Moha Asri Abdullah
2014-13​Measuring the Value of Islamic BanksAbdul Ghafar Ismail
Sjaiful Akbar
Siti Manisah Ngalim
2014-12Does the Capital Structure Matter for Islamic Microfinance Institutions?Abdul Ghafar Ismail
Bayu Taufiq Possumah
​2014-11​Islamic Microfinance: Moving Beyond Financial Inclusion. Abd Elrahman Elzahi Saaid Alipdf-icon.png
​2014-10Affordable Housing Finance in the IDB Member Countries: Challenges and Currently Practiced Modes of Islamic Housing FinanceNasim Shah Shirazi
Salman Syed Ali
​2014-09​​​Enhancing Intra-Trade in OIC Member Countries through T-SDRSMahmoud Sami Nabi
Rami Abdelkafi
Imed Drine
2014-08Between Free Market and State Capitalism: How Islamic Economics System Shape the Future Global Economy?Abdul Ghafar Ismailpdf-icon.png
2014-07Ethics in Relation to Islamic Finance Activities​Abdul Ghafar Ismail
Nor Azmidah Zali
2014-06The Challenges of Islamic Trade Finance in Promoting SMEs in IDB Member CountriesAbd elrahman Elzahi Saaid Alipdf-icon.png
2014-05​Speculative Rational Bubbles: Asset Prices in GCC Equity MarketsTurkhan Ali Abdul Manap Mohd Azmi Omarpdf-icon.png
Public Private Partnerships: lesson from Sukuk. Abdul Ghafar Ismail
2014-03Philanthropy in Islam: A promise to Welfare Economics SystemAbdul Ghafar Ismail
Muhammad Hasbi Zaenal Hakimi Shafiai
2014-02​Tawarruq Time Deposit With Wakalah Principle: An opinion That Triggers New IssuesAbdul Ghafar Ismail, 
Nik Abdul Rahim 
Nik Abdul Ghani 
Mat Nor Mat Zain
2014-01​Tax Rate and its Determinations: An Opinion from Ibn KhaldunAbdul Ghafar Ismail
Abu Bakar Jaafar
2013 ​ ​ ​
2013-03​Alternative Structures for Financing by Islamic BanksSayyid Tahirpdf-icon.png
2013-02 Access to Finance and Investment: Does Profit Sharing Dominate Debt?
Mahmoud Sami Nabipdf-icon.png
Dual Banking and Financial ContagionMahmoud Sami Nabi​pdf-icon.png
​2012-08​Fiscal Structure, Social Welfare Program and Infrastructure Development in the Former State of Swat (Pakistan): A Case Study with Implications for Muslim Countries​Nasim Shah Shirazi
Hafiz M. Yasin
2012-07Economic Estimation and Determinations of Zakat Potential in IndonesiaMuhammad Firdaus
Irfan Syauqi Beik
Tonny Irawan
Bambang Juanda
2012-06State of Liquidity Management in Islamic Financial InstitutionsSalman Syed Ali​
2012-05The Impact of Credit Risk Transfer on Islamic Banks Lending Behavior and Financial StabilityAbd elrahman Elzahipdf-icon.png
2012-04A Theory of Profit Sharing, Income Inequality and Capital AccumulationMahmoud Sami Nabi​
2012-03A Theory of Profit Sharing, Income Inequality and Capital AccumulationMahmoud Sami Nabi
​Targeting and Socio-Economic Impact of Microfinance: A Case Study of PakistanNasim Shah Shirazipdf-icon.png
​2012-01​Islamic Banking in the MENA RegionSalman Syed Alipdf-icon.png
2011 ​ ​ ​
2011​-03Measuring Operational Risk Exposures in Islamic Banking: A Proposed Measurement ApproachHylmun Izharpdf-icon.png
2011-02Certain Legal and Administrative Measures for the Revival and Better Management of Awqaf​Syed Khalid Rashid
2011-01The Economic Problem: Can Islam Play an Effective Role in Solving it Efficiently as well as Equitably?Umer Chaprapdf-icon.png​​

Working Papers