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In the Islamic system, the activity and the performance of all the economic, social, political and religious agents are under the guidance of knowledge given by Allah (SWT). There are some established principles related to the human behavior which are valid in each and every aspect of the universal set of Islamic system and thus valid for all the economic markets, such as labor, goods and money markets. This paper discussed the labor market in the periphery of Tawhidi methodology. The concept of labor in Islam emanates from a concept of intrinsic value as the real worth of a produced thing as well as factor of production. The authors have taken the Quranic precept that says Allah has put fitra in all things during creation and this assumes the primordial value of being in cognitive forms. Hence, if a good is discovered, produced and labor is expended in its production and transaction, there is always that primordial intrinsic value that has in the first place made all the subsequent processes possible. This primordial value must always be discounted from the price of factors and goods as it cannot be claimed. That is why, the Quran says that Allah has created the universe in the midst of plenty, not scarcity. The paper aims to discuss these issues.

Literature survey approach was applied in this paper.

The input of fitra is like a value variable (imponderable) linked with two stages of knowledge production – intrinsic knowledge that is innate in exchangeable knowledge flows that are evolved by interactions, say among cooperating agents of the markets and between agents and the observation of variables trends (empiricism). Market exchange is of the classical nature but with this value element in the process of exchange describing not steady-state equilibrium point but evolutionary equilibrium as a result of the knowledge caused and regenerated by interactions, thus affecting the demand and supply schedules through the inhering process of interactions among participants (cooperative ones). The authors can draw an evolutionary form of moving cobweb equilibria that are simply expectational in nature; they are not static except for the very instantaneous case of non-learning.

This is the first attempt. There is a need to conduct more research in this topic.

This paper has practical implication for the policy makers in the environment of moral and ethical economy.

This is an original contribution and is a first attempt in this area.

The purpose of this paper is to highlight the factors that influence the decision of married women (in the age group of 16‐60 years) to participate in labor force activities.

This is an empirical study employing the non‐linear maximum likelihood probability (probit) function on primary data (3,911 observations).

Besides other variables it has been observed that poverty remains an important determinant of female labor participation.

On the basis of this paper, a socio‐economic policy can be formulated for a developing country like Pakistan.

A development policy (especially considering the gender aspects) can be formulated on the basis of this research for the enhancement of human resource development for a developing and an orthodox economy like Pakistan.

This paper is beneficial to researchers, policy makers, and social scientists for the enhancement of the level of social welfare and equity through its findings.

The purpose of this paper is to highlight how rising food prices influence the degree of poverty.

This is an empirical study employing the simple regression analysis.

Besides other variables it has been observed that poverty remains an important determinant of a country like Pakistan.

On the basis of this study a socio‐economic policy can be formulated for a developing country like Pakistan.

A development policy (especially considering the urban and rural population) can be formulated on the basis of this research for the provision of basic needs for a developing and an orthodox economy like Pakistan.

This research is beneficial to researchers, policy makers and social scientists for the enhancement of the level of social welfare and poverty alleviation through its findings.

The purpose of this study is to examine the perception and acceptability of insurance policyholders to introduce takāful in India. The primary focus of this research is insurance policyholders because they currently have insurance policies and it is believed that they are familiar with the concept of insurance, compared to the people who do not have any insurance policy.

New product diffusion theory is used in developing the hypothesis and a questionnaire. In this research, the population is unknown, and hence, the non-probability sample is used. Quota sampling and snowball sampling methods are used in this survey, with a sample size of 909 respondents, including Muslim and non-Muslim policyholders. The external factors that motivate potential policyholders to participate in takāful are the independent variable here; while the respondents’ actual willingness to participate in takāful is the dependent variable. Regression analysis is performed to analyse the data.

Based on 909 respondents, it is found that the factors such as cost vs benefits, marketing and promotion and social and religion play a significant role in a consumers’ decision-making at 1% significant level overall. The attribute of agents can influence the consumers at a 10% significant level overall. However, other factors, namely, accessibility, availability and service quality, product features and reputation of the company cannot pursue the consumers in India.

The questionnaires are distributed in 10 cities from nine states out of 28 states in India. Thus, it covers only one-third of the states. Future research can expand the respondents from other states that have not been researched.

India is opening to foreign investments in the Indian insurance industry, and thus, the findings are useful for industrial players, investors, policymakers for the development of takāful in India.

Limited research has been done in previous studies and this research is the pinnacle within-depth survey regarding takāful in India.