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The purpose of this paper is to review and analyze assumptions and the appropriateness of the most dominant strategic decision-making theories within the Islamic cultural context as an attempt to develop an Islamic decision-making framework.

This paper adopted the integrative literature review approach as a research method (Torraco, 2005). This method allows the researcher to evaluate and syndicate the relevant literature to, critically, review and expand on the theoretical foundation of the topic and, hence, develop new theoretical perspectives and views.

Based on the critical review of the decision-making theories from an Islamic perspective, Islamic culture confirms the behavioural decision theory as the most appropriate approach to make strategic decisions in organizations. In addition, the study reveals that mutual consultation and consultative decision-making (Shura), based on knowledge and Islamic ethics, is the principal Islamic approach to strategic decision-making.

The developed Islamic decision-making framework will, significantly, assist management practitioners, managers and policy makers in both private and governmental organizations to improve their decision-making skills through adopting the Shura approach in decision-making.

The paper expands the boundaries of knowledge in managerial decision-making through developing an Islamic decision-making framework. This theoretical framework brings new insights and open new opportunities of thinking on Islamic decision-making among business scholars and represents fundamental grounds for future research in cross-cultural management in the area of managerial decision-making from an Islamic perspective, which is rare among scholars of management.

This study aims to examine the international market selection process of entrepreneurs operating internationally.

Four small and medium-sized comparative and rich-information case studies were purposefully selected from among Australian and Arabian firms. Data were collected via in-depth personal interviews, follow-up interviews and questionnaire instrument.

The results revealed that entrepreneurs used a four-stage systematic decision-making process to attain profitable foreign market choices. The decision process was influenced by cognitive boundaries as entrepreneurs relied on the availability experiential, anchoring and adjustment heuristic.

The research’s findings and the proposed decision model will, significantly, assist entrepreneurs, willing to expand internationally, in enhancing their decision-making to attain profitable foreign market choices. Further, it provides benefits to foreign investment policymakers in host countries by assisting them to attract more inward foreign direct investments, and, accordingly, enhance the economic and social development movement in their countries.

This study provides a significant theoretical contribution to the literature on the internationalization process of entrepreneurs and small- and medium-sized enterprises through developing a decision model for selecting and entering foreign markets by entrepreneurs in a cross-country context. Further, the study provides significant methodological contributions with regard to the effectiveness of the qualitative case study method in capturing elements of the foreign market selection process.

This study looks at drivers of internationalisation and the important location decision factors contributed to the selection of a beneficial country for international expansion. One in‐depth and information‐rich case study of the Arabian premium international professional service firms was purposively undertaken. The results show that both firm and location‐specific factors, firm’s competitive advantage, company’s management attitudes and profit growth were the main drivers of internationalisation. Further, the study reveals that the pre‐development of country qualitative and quantitative location factors was elemental to attain profitable foreign country choice. Accordingly, these findings have significant theoretical and practical implications to the internationalisation and foreign market entry of professional service firms.

This paper aims to compare and contrast the concept of conventional futures contract from the Islamic law of contract perspectives. The underlying theory and practice of Islamic finance is based on the principles of Islamic law of contract. Although the necessity of derivative instruments such as the case with futures contract is essential for developments in Islamic finance, the permissibility of using these instruments still remains a debatable issue.

The paper discusses arguments for and against using derivative instruments as in futures, for example, in light with the Qur’an and Sunnah (the Prophet’s traditions), as well as the views of classical scholars, jurists and contemporary researchers. Arguments for and against are analysed systematically to derive a logical conclusion.

The study finds that majority scholars consider futures contracts as non-compliant with the Islamic law due to the fact that selling something that does not exist, deferment in the both counter values, gharar or ambiguity and excessive risk taking, pure speculation and sale of one debt for another.

The study focuses narrowly on conventional futures contract. Analysing other financial derivative contracts could be a future research endeavour.

The study has so far found the verdict of impermissibility of conventional futures contract in its current form as has been argued by majority scholars in the premise that they do not comply with the Islamic law. Policymakers and industry practitioners need to take this opinion of majority scholars while developing new Islamic financial derivatives.

To the best of the author's knowledge, the present research is the first attempt so far that explained the validity of conventional futures by analysing arguments of classical and contemporary jurists, scholars and researchers.

This study aims to explore critical success factors contributing to the selection of beneficial foreign markets by Arabian international firms.

Multiple case study method was adopted in the study, and thus, two rich-information comparative case studies were purposefully selected from Arabian large firms. Additionally, seven international market selection (IMS) decisions were examined through relying on personal interviews and archival data, and field notes as secondary data resources. Two main stages of analysis were undertaken, i.e. within and cross-case analyses.

The results showed four critical factors contributing to the selection of beneficial international markets by Arabian firms, i.e. international business experience of the selected management team, the market knowledge about the potential international markets, in-house and external consultations with international business experts and identification of a trustworthy and internationally experienced manager for the international operation.

The results have important implications to business managers by improving their foreign market selection behavior. Further, the research’s findings can assist less-experienced firms, willing to internationalize their businesses, in enhancing their decision-making process to arrive at beneficial country for their international operations.

The research findings provide significant theoretical contribution to literature review on the internationalization process of firms through addressing critical success factors in IMS decision process. Further, it provides significant methodological contributions in relation to the effectiveness of the case study approach in capturing elements of the IMS process.

The purpose of this research is to present an Islamic monetary theory of value by analyzing real prices and real money in terms of gold and silver in Egypt from 696 to 1517, a period of 821 years from the Umayyads to the Abbasids.

This paper adopts a quantitative empirical investigation derived from a full population of secondary data to deductively evaluate the measure and store of value functions of money, to affirm an Islamic monetary theory of value, which is also inductively researched through a qualitative interpretation of documentary and content analysis of Islamic and numismatic literature.

The Islamic monetary theory of value leads to an Islamic equation of exchange that reconfirms the outcome of this research, where a high value of money ensures low constant real prices over the long term.

The findings are based on an empirical investigation involving a single price of wheat series as a reasonable proxy for changes in wholesale commodity prices generally, which was successfully adopted by other studies.

The significance for modern monetary policy is that monetary authorities should adopt an Islamic monetary theory of value to achieve genuine monetary and price stability.

Through an Islamic equation of exchange, price stability would ensure real economic growth that protects wealth for holders of money due to a stable purchasing power, and combined with Islamic equity finance, more efficiency in allocating investible resources to increase gross domestic product and employment.

The Islamic monetary theory of value ensures that there is no transfer or confiscation of wealth through inflation, which would impart gains to the issuer due to the excessive supply of money in relation to demand.

This paper aims to delve in an aspect of monetary economics, addressing its Islamic wing in general and dinar advocates in particular.

The paper argues that calls to reinstitution of dinar currencies are not only anachronistic and unnecessary but also counter-productive and potentially un-Islamic.

The paper further posits that regardless of the nature of economy, legal tender fiat money and bank money are of the same genus, and treating them otherwise is not consistent with Islamic jurisprudential precepts.

The study also highlights that mismanagement, avarice and human follies are to blame for financial maladies; regression to metallic currency is a panacea to neither the conundrums nor Islamic.

This study aims to identify the effect of the Quranic approach on understanding Islamic accounting among accounting students.

This study used an experimental field design with pre- and post-test involving 107 participants. Based on the self-determination theory, this study explores the role of Quranic involvement in Islamic accounting instructional design to improve learning outcomes. This study used a comparative analysis of an independent sample of the approach (Quranic vs technical learning) in instructional design (mathematics vs conventional).

This study proves that Islamic accounting learning outcomes differ between the Quranic and technical learning approaches. The Quranic approach provides better learning outcomes based on post-test scores. This difference is consistent in both conventional and mathematical instructional designs.

First, this study is limited to the alleged role of the Quranic approach in participants' intrinsic motivation. Further studies can explore how and what part of participants' intrinsic motivation is affected by the Quranic approach. Second, this research is limited to the basics of Islamic accounting. Further studies can explore the role of the Quranic approach in understanding Islamic accounting transactions with higher complexity.

This study can be used to develop Islamic accounting instructional designs using a Quranic approach.

This study provides empirical evidence on the Quranic approach's role in improving learning outcomes. This study also fills in the scarcity of research on Islamic accounting teaching.

The purpose of this paper is to provide a critical, historical, and legal account and analysis of how money, an inexorable lubricant of all economies, evolved from metallic origins to acceptance in paper form in Muslim traditions.

This paper underlines flaws, points of objections, corollaries and counter-points, and it ends with a thematic discussion on the way forward for Muslim nations with respect to various political and regulatory implications for implementations of potential paper money alternatives

After undergoing experimentation and customary use of various objects as money (such as sea shells, gold, silver, stones, tobacco, etc.), the world has finally settled down by embracing paper money as an official medium of exchange.

Paper money also endured many financial crises and initial oppositions to its premise. From an Islamic standpoint, paper money poses certain flaws and limitations that can make it unacceptable from legal perspectives.

This study aims to describe the role of knowledge diffusion in evolving governance principles for Islamic banking.

This study develops a discursive theoretical debate using the discourse analysis method on the Sharīʿah principles related to interest (Riba), excessive uncertainty (Gharrar) and profit and loss sharing and their convergence with the conventional banking principles of profitability, solvency and liquidity.

The study proposes a novel framework that describes how knowledge diffusion bridge-up the Sharīʿah and banking principles in terms of integration of banking principles by Sharīʿah scholars, integration of Sharīʿah principles by managers and the resultant, emergent principles for the governance of Islamic banking.

The proposed framework can inform professionals on how knowledge of banking practices and Sharīʿah can help them in governing Islamic banking. The Board of Directors may adopt a holistic approach for encouraging enhanced interactions between Sharīʿah scholars and managers. Such interaction may be increasing harmony, reducing conflicts and better coordination resulting in Sharīʿah-compliant and market wise viable products and services, thus increasing banking profitability.

This is the first study, which acknowledges and illustrates the role of the knowledge diffusion process in evolving governance principles for Islamic banks. This paper contributes to the theory of corporate governance by using the knowledge, aptitude and practice theory lens to examine conceptually how Islamic banking governance principles emerged through the knowledge diffusion process.