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Purpose Both developed and developing countries, Muslim and non-Muslim, have been showing keen interest in sukuk financing. This interest was because of the lesson learned by both Asian and non-Asian economies that having a developed capital market is very essential to enable an economy resilient to the financial crisis. Therefore, this study aims to produce theoretical relationships and identify empirical support for the determinants of sukuk market development. Design/methodology/approach By using panel data analysis, the study covers the period from 1993 until 2017, and includes 13 sukuk issuing economies as per the availability of data. Findings The findings of the study revealed that the stage of economic development, banking system, money supply and current account balance are positively associated with sukuk market. Interestingly, economic size and exports appear to be negatively associated with sukuk. Practical implications To flourish the domestic sukuk market, authorities need to strengthen the existing financial system and economic development. Originality/value The study contributes in a limited body of knowledge on determinants of sukuk market development by exploring novel determining factors of foreign capital inflows as well as macroeconomic and financial factors.

This paper evaluates and compares the performance of Sharia-compliant banks with their conventional counterparts operating in Pakistan. Data of five completely Islamic Banks(IBs) and fifteen Conventional Banks (CBs), from Pakistan, have been used for the study. Study period comprises of six years from year 2008 to year 2013. Bank's orientation, efficiency, quality of assets and stability are the measures used to compare the performance of Shariah-compliant and conventional banks. The Islamic Banks in Pakistan are younger in age and smaller in size compared to the Conventional Banks. Based on the financial ratios of two types of banks, we find that the business model of Islamic Banks is inferior to the model of Conventional Banks. Islamic Banks are less cost efficient than Conventional Banks. However, Islamic Banks have superior asset quality with better bank stability position.

Purpose To wipe out the criticism of being a replica of conventional financial institution, Islamic financial institutions (IFIs) need to comply with Islamic principles not only on financial side but also while branding and marketing their products and services. This will bring the coherence between their overall market image and core business activities. This paper aims to discuss in detail the Islamic marketing traits relevant to the IFIs for positioning and offering their products. Design/methodology/approach This study follows the research design based on reviewing existing sources of Qura’an and Hadith, the secondary research literature on this novel topic and substantial intellectual discourse with the field experts. Findings It is criticized that IFIs lack the spirit of Islamic values for marketing and branding a commercial business entity. Therefore, this paper outline the differences between Islamic and conventional marketing. Also, it contributes to explain the traits of Islamic marketing mix relevant to the IFIs based on Islamic established principles. Research limitations/implications This study gives valuable practical guidelines for the marketing policymakers of Islamic financial institutions. Islamic marketing mix; product, price, place and promotion, related strategies can be designed and branded keeping the true spirit of Islamic marketing values intact. Practical implications This study is practically important for Islamic financial intuitions to sustain their “Islamic” image by making sure of Islamic principles in their product development, pricing, promotions and distribution. Social implications The socioeconomic system is the brand of Islamic economics and finance. IFIs being the stakeholders of this brand can contribute to the well-being of the society by enhancing their acceptability with the help of divine image and operations. Originality/value Literature on practical Islamic marketing approach in particular to the IFIs is very limited. This study gives comprehensive findings on all the major aspects of marketing based on Islamic values for Islamic financial institutions.

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Purpose- To diversify financing portfolio and reduce the reliance on the banking system, developing economies have realized the importance of bond market development. Bond markets facilitate economies to be more resilient towards the events of financial crises. Therefore, the share of the bond market in the financial system of the Asian economies has remarkably increased in the last decade. However, the academic literature on the bond market is very limited as compared to bank and equity markets. This was mainly because of the unavailability of vast data due to the absence of secondary markets for bonds in most of the economies. To fill this gap, this conceptual study postulates the theoretical relationships of bond market with various macroeconomic and financial factors. The study also assumes some new dimensions for bond financing and opens discussion for scholarly literature and empirical justifications.  Design/Methodology- Content analysis approach is used to review relevant literature for the possible associations of the bond market with macroeconomic and financial factors.  Practical Implications- The theoretical relationships discussed in the paper need empirical testing in future research to conclude policy implications. If the relationship between foreign capital and bond securities is established with empirical justification, we draw the policy that concerned authorities need to create a suitable environment for the attraction of foreign capital to provide support to the development of domestic debt market.

This paper evaluates and compares the performance of Sharia-compliant banks with their conventional counterparts operating in Pakistan. Data of five completely Islamic Banks(IBs) and fifteen Conventional Banks (CBs), from Pakistan, have been used for the study. Study period comprises of six years from year 2008 to year 2013. Bank's orientation, efficiency, quality of assets and stability are the measures used to compare the performance of Shariah-compliant and conventional banks. The Islamic Banks in Pakistan are younger in age and smaller in size compared to the Conventional Banks. Based on the financial ratios of two types of banks, we find that the business model of Islamic Banks is inferior to the model of Conventional Banks. Islamic Banks are less cost efficient than Conventional Banks. However, Islamic Banks have superior asset quality with better bank stability position.