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Research on Islamic entrepreneurship (IE) is growing but with difficulty. After reviewing six IE models, several problematic inconsistencies were identified, which can be categorized into three: sporadic objectives of IE, diverging core components and inconsistent levels of analysis. This study aims to articulate a synthesized IE model.

An Islamic critical realist synthesis is used by combining six IE models and situating them within an Islamic system of governance. Specifically, the Islamic governance conceptual matrix is used to offer an objective template.

A synthesized model of IE within an Islamic system of governance comprises the following: the objectives of IE are not to be confined to only financial sustainability, but to achieve all five Maqās.id of the Sharī’ah (i.e. preservation and promotion of faith, life, intellect, posterity and wealth); models of IE should cover the individual, group, organizational, societal, state and international levels for comprehensiveness; tawhīd is crucial to distinguish between IE and conventional entrepreneurship; halal IE activities can be further categorized into obligatory, recommended, permissible and reprehensible; Islamic values are to be differentiated from cultural values; and both Islamic and cultural values shape IE and vice versa.

Limited number of models of IE were included in this synthesis. Although the resulting synthesized model is extensive, additional models of IE can be built to extend or even challenge it.

A novel model of IE within an Islamic system of governance is presented.

This study aims to explore the prospects of istijrar financing in the Islamic banking of Bangladesh. Istijrar is a supply sale contract that facilitates recurrent transactions under a master agreement without needing a deal-to-deal agreement. Murabahah financing in Bangladesh is being criticized for Shari’ah violations, which can be minimized if istijrar financing is integrated and applied.

The study uses a qualitative approach, primarily using a semistructured interview method to collect the primary data. The study conducted 13 one-to-one interviews with leading Islamic banking experts in the country, including Shari’ah scholars, Islamic bankers and regulators. Besides, the study consults with classical and contemporary fiqhi sources to realize the status of istijrar sale in Islamic law. Thematic analysis is performed to explore the qualitative data.

The study finds that istijrar financing has great prospects in the Islamic banking of Bangladesh. Istijrar is applicable in consumer financing and can be offered as an alternative or supplement to murabahah. Also, postimport murabahah financing can be structured with istijrar, while it can also be used in export financing. Besides, a few challenges should be dealt with before offering istijrar, such as proper structure, lack of literacy, stakeholders’ awareness, Shari’ah and regulatory approval and alignment with the law of the land.

Murabahah financing is dominant on the asset side of Islamic banks’ balance sheets in Bangladesh. Murabahah practice in Bangladesh is frequently criticized for some possible Shari’ah violations. Also, more documents are needed for each murabahah operation, which eventually accelerates the costs. Applying istijrar would minimize these issues as it does not require a new contract for each deal. Multiple supplies can be done under a single agreement. Besides, istijrar reduces documentation hassle and transaction costs. Istijrar would be an easy practice and benefit the bank and its clients.

This study contributes to the body of knowledge and the Islamic banking industry. The existing studies have not adequately addressed the potential of istijrar in Islamic banking. In addition, this study will be an eye-opener for Islamic bankers to develop new products with istijrar.

This paper explores the experience of “Shari’a” as non-state law in the English courts through a historical analysis of past Islamic finance dispute resolutions (IFDRs). This paper aims to propose a conceivable scenario relating to the law applicable in international commercial contracts in the English courts with the emergence of the Hague Principles 2015.

This paper addresses several issues that have been raised in English case law: doubts about the legal nature of “Shari’a” as non-state law; the limits placed on freedom of choice of “Shari’a” law by the application of a single legal system; and the distinction between application of law and incorporation by reference of “Shari’a” in IFDRs. The paper then analyses the conformity of “Shari’a” with the provisions now used to resolve Islamic finance disputes (trade and investment) in the English courts, using an empirical analysis of The Accounting and Auditing Organization for Islamic Financial Institutions standards.

The paper provides that, in theory, “Shari’a” standards could play a significant role in IFDRs after Brexit, even though a gap persists in practice because the Hague Principles 2015 have not yet been adopted by the English legal system.

The study focuses on the English courts and shows how the IFDRs could be resolved with the emergence of Hague Principles 2015 in the post-Brexit era.

To the best of the author’s knowledge, this paper appears to be the first paper to provide a conceivable scenario relating to the future of the IFDRs in the English courts.

This study aims to propose a temporary waqf model for family waqf by establishing its application parameters, which may facilitate the management of family waqf in Malaysia and encourage new donors to establish waqf.

A qualitative methodology was employed to analyse the data through deductive and field research methods. For field research, this study conducted semi-structured interviews with the Waqf Corporations and Mufti's Department in the selected states within Malaysia.

Results drawn from the interview's findings are that creating family waqf in Malaysia is hindered by several obstacles, including family waqfs not serving the public interest but rather their descendants, and family waqfs have been practised in perpetuity. Besides, inefficient management of family waqf and a lack of an effective mechanism and parameter exists. Therefore, this study presented a conceptual framework for a temporary cash waqf model for family waqf along with the parameters that can be used to implement it. The temporary waqf is a strategy to develop waqf property and the interests of creators, beneficiaries and trustees. Temporary waqf merged into the family waqf yields benefits to the family waqf.

Because of Malaysia's Waqf Regulation and Administration, this study was confined to selected states. This study has broadened the scope of temporary family waqf, including moveable, immovable property and cash waqf.

This study presented a temporary waqf model for family waqf as a realistic mechanism and criterion for its practical implementation in Malaysia.

This study could encourage new donors to establish waqf.

This study’s novelty lies in its attempt to highlight the importance of the temporary waqf model as a practical mechanism with holistic principles for its implementation in Malaysia to benefit the donors, their families and trustees. In addition to family waqf, numerous temporary waqfs may be established, in which the income or usufruct is shared proportionally, such as charitable waqf (waqf khairi), private waqf (waqf khas) and joint waqf (waqf mushtarak).

Islamic Insurance (Takaful) played a dynamic role in Islamic Social Finance (ISF). The popularity of the Takaful concept is being increased with each passing day. To describe the process, it is important to understand past areas of research, research differences, areas of unknown Takaful research, as well as the existing data. However, the purpose of the paper is to provide a comprehensive analysis of the development of qualitative research by carefully examining the nature of science and aspects of social relations in ISF.

Field, concerns with analysing and measuring the scholarly literature, quantitative characteristics of sciences and scientific technologies are known as scient metrics. This research includes queries such as “Islamic Insurance”, “Takaful” and “Shariah Insurance” as a reference in “Article title, Abstract and Keywords” based on Scopus from 2002 to 2022. This analysis was conducted in February 2022. The Bibliometrics, R-Studio, VOSviewer and Excel software are used to analyse the collected data and apply the bibliometric analysis.

The gist of the results and findings is that there are clear research gaps in the existing literature on Takaful. The available research on this subject does cover historical background, concept and models of Takaful and customer satisfaction towards Takaful model. Very important areas such as use of technology for bringing innovation in Takaful products and Shariah issues in existing practice and their solutions were not found in the present literature on Takaful.

This is the comprehensive research article to examine current literature on Takaful with bibliometric analysis. Results and potential areas of this research could be much helpful for scholars and researchers to create more dynamic improvements in the scientific development of Takaful in ISF.