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Issue 5(1), October 2010 -- Paper Abstracts

Girard  (p. 9-22)

Cooper (p. 23-32)

Kunz-Osborne (p. 33-41)

Coulmas-Law (p.42-46)

Stasio (p. 47-56)

Albert-Valette-Florence (p.57-63)

Zhang-Rauch (p. 64-70)

Alam-Yasin (p. 71-78)

Mattare-Monahan-Shah (p. 79-94)

Nonis-Hudson-Hunt (p. 95-106)

JOURNAL OF APPLIED BUSINESS AND ECONOMICS

Socially Responsive Investments: A Case For Islamic Finance

Author(s): Malek Lashgari

Citation: Malek Lashgari, (2014) "Socially Responsive Investments: A Case For Islamic Finance," Journal of Applied Business and Economics, Vol. 16, Iss. 4, pp. 31-40

Article Type: Research paper

Publisher: North American Business Press

Abstract:

This paper explores the possible use of the time State Preference Model from the modern portfolio theory

as well as an index bond whose performance is based on the growth in an industry or the national income

for possible applications in Islamic financial transactions. This appears to be in line with the provisions

of Islamic economic thought as it prohibits receiving a fixed rate of interest on the use of money as well

as calling for the need for enhancement of economic and social welfare of all members of the society.

Islamic laws, in principle, aim for productive use of capital and earning a reasonable return on

investment in the context of risk sharing rules. This is for the purpose of an equitable distribution of profit

among the individual investors and banks with the suppliers of human capital and business enterprises.