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The purpose of this paper is to describe a normative perspective of employment relations in Islam.

The perspective on employment relations offered in this paper is based on a reading of the principal Islamic texts (the Qur'an and the hadith) and a review of the literature on Islamic economics.

Despite varied interpretations and practices of the economic system in Islam, it is possible to identify a common emphasis on ethical conduct of employers and employees and social justice in Islamic ideology.

Given the paucity of research on employment relations in Islam, the paper offers an original perspective on this topic.

This study aims to examine the influence of Islam on corporate social responsibility (CSR) and corporate social responsibility disclosure (CSRD) in Islamic financial institutions (IFIs) with a focus on an analysis of narrative reporting.

Using content analysis, this study analyzes the narrative disclosures of corporate social responsibility of 21 IFIs operating in the Gulf region.

This study provides evidence of Islamic influence on the CSRD of IFIs. It finds that the largest part of CSRD produced by the IFIs is the disclosure of reports of the Shari'a Supervisory Board. IFIs also disclose other Islamic information (e.g. “Zakah” and charity donation, and free interest loan) and report on their compliance with Islam along with information of philanthropy, employees and community.

This study provides a valuable contribution to researchers and practitioners, as it extends the understanding of how the narrative disclosures on CSR were produced by IFIs and the influence of religion on CSRD.

This paper aims to present an account and discussion of Imam Ali’s view on poverty and socio-economic justice. The concept of socio-economic justice is of utmost importance in Islamic teachings.

This exercise is based on examining Nahj al-Balagha, a tenth century collection of sermons and letters of Imam Ali Ibn Abutalib.

First, in Imam Ali’s view, socially just outcomes can only be achieved through just means and procedures. Second, acute and visible inequalities and side-by-side co-existence of extreme wealth and poverty in a society point to the existence of socio-economic injustices. Third, a society that is suffering from severe and continuous socio-economic injustices or, in other words, acute poverty and inequality will cease to prosper and develop. Fourth, the main objective of an Islamic governance system is to adopt policies, institutions and procedures that would reduce or eliminate socio-economic injustices. A government that fails to reduce socio-economic injustices, in Imam Ali’s view, has failed in its main mission of protecting the rights of the public and ensuring their prosperity. Finally, regardless of government action or inaction, each individual in a society is also responsible to reduce socio-economic injustices to the best of his/her knowledge and ability.

This paper aims to present the first comprehensive account of Imam Ali’s view on poverty and socio-economic justice and it could prove to be practically useful to modern Muslims and non-Muslims alike, whatever their position in society.

This paper aims to discuss the role of Waqf as a means of enhancing financial inclusion and socio-economic justice in Nigeria.

The methodology in this paper is that the data were elicited from secondary sources such as the Al-Qur’an, Hadiths and other empirical studies in the existing literature. The Tawhidi epistemology (Islamic world view) also has been obtained to deliver better understanding on the findings.

The paper implores Islamic societies to take advantages of integrating Waqf to support the financing needs of disadvantaged members of the Muslims communities, especially the Muslims, dominated northern Nigeria with a high level of financial exclusion. The Waqf funds if integrated and institutionalized will support the region by making the fewer privilege members of that community-engaged thereby economically and enhancing the financial inclusion. This will also lead to economic growth and socio-economic development of Nigeria.

The paper concludes by suggesting the establishment of Waqf funds to supports the less privileged people through Islamic Microfinance as means of enhancing socio-economic justice in Nigeria’s Muslims’ communities, which is negatively affected by the high rate of financial exclusion and poverty. This paper also provides critical suggestions on the ways the integration of Waqf funds will contribute significantly towards assisting Nigeria in achieving its vision of reducing the financial exclusion rate and may foster inclusive growth and sustainable development.

This paper is a conceptual study and, therefore, limited to the content of the existing literature. Hence, the future researchers may replicate and test it empirically for a more scientific justification regarding the roles of Waqf towards enhancing financial inclusion in Nigeria.

This study aims to explore the governance practices of profit and loss sharing (PLS) financing in connection to the socio-economic development objective of the Islamic financial institutions (IFIs).

The study context included IFIs from Yogyakarta, Indonesia. A two-stage research methodology was used. In the first stage, top ten IFIs – three Islamic commercial banks, three Islamic rural banks and four Islamic micro finance institutions – were considered for in-depth interviews. Formal interview protocol was followed to record and transcribe interviews. In the second stage, a questionnaire survey considered 26 IFIs. Unit of measurement was individuals working at the mid and top level from the selected organisations.

The governance process of providing and managing PLS financing involves several critical factors, such as the financing duration, instalment timing, contract approval and cost, basis of sharing, risk management, customer empowerment and Sharīʿah compliance. Contrary to the existing belief, the authors found that PLS financing is primarily available for shorter period of time (three years) and it is unavailable for start-ups. Also, newer IFIs rely less on PLS financing than the older IFIs. In addition to worrying about the higher risk of return, IFIs considered government regulation on PLS to be tighter in terms of provision and rescheduling.

This study is limited to investigating IFIs in Yogyakarta, Indonesia. This limitation is covered by taking samples from three types of IFIs.

For IFI practitioners, these findings are expected to improve their confidence in undertaking more progressive efforts in adopting governance policies that contribute to greater socio-economic justice.

If the governance good practices are implemented by all IFIs, a higher degree of social welfare and customer awareness can be achieved.

Across all types of IFIs, this study’s results confirm that PLS is less preferred for long-term and start-up financing. These findings should be the ingredients to push research on PLS further, as these findings grossly violate the theory. Fulfilling these gaps could strengthen the nexus between PLS and socio-economic justice.

The purpose of this paper is to discuss the roles of Zakat, Sadaqah and Qardhul Hassan within the context of the existing literature as major Islamic financial instruments for enhancing socio-economic justice amongst Muslims haves and have-nots as these enhance financial inclusion in Nigeria.

The discussion in this paper is based on secondary sources such as the divine knowledge contained in the Qur’an, Hadiths and the existing literature, such as previously conducted empirical studies and Islamic world view (Tawhidi epistemology).

This paper implores Islamic societies to use Zakat, Sadaqah and Qardhul Hassan as instruments that encourages wealth redistribution that promotes efficient and effective wealth redistribution between haves and have-nots as part of the vicegerent (khaliphah) role between mortal being (human) and his immortal creator (Allah). This paper concludes by suggesting the use of these Islamic financial instruments as means to enhance socio-economic justice and financial inclusion in the Nigeria’s Muslims’ communities that are negatively affected by the high rate of financial exclusion and poverty as had been previously practiced in the Muslim world throughout the Islamic history.

This paper provides critical suggestions on the ways Zakat, Sadaqah and Qardhul Hassan will contribute significantly towards assisting Nigeria in achieving its vision of reducing the financial exclusion rate that is currently put at 41.6% to 20% by the year 2020 and may foster inclusive growth and sustainable development. However, the limitation is that it is a mare conceptual study, and the future researchers may subject it to the scientific test to offer empirical evidence regarding the roles of Zakat, Sadaqah and Qardhul Hassan towards closing the gap of financial exclusion in Nigeria.

This paper contributes to the existing literature on the doctrine of the Islamic moral economy by recommending the adoption of Islamic financial instruments as tools for enhancing income redistribution and financial inclusion.

This book is a policy proposal aimed at the democratic left. It is concerned with gradual but radical reform of the socio‐economic system. An integrated policy of industrial and economic democracy, which centres around the establishment of a new sector of employee‐controlled enterprises, is presented. The proposal would retain the mix‐ed economy, but transform it into a much better “mixture”, with increased employee‐power in all sectors. While there is much of enduring value in our liberal western way of life, gross inequalities of wealth and power persist in our society.

The purpose of this paper is to discuss South Africa’s trajectory of socio-economic development since the advent of democracy a quarter century ago. This is done through a critical discussion and review of major policy interventions that have been implemented to achieve the goal of racial justice. The author argues that while the advent of democracy brought about significant opportunities for social justice, socio-economic development in South Africa has been characterised by increasing wealth and income inequality, which has undermined the cause of racial justice. The key argument the author advances in the paper is that the decline in the power resources of the working class and the poor accounts for the neoliberal turn in economic policy in South Africa.

The paper relies on primary policy documents of the government and on primary political and policy documents of the African National Congress and its political allies such as the Congress of South African Trade Unions and the South African Communist Party. The author also reviews the extensive literature on the subject of development policymaking in the new South Africa.

The main finding is that the advent of democracy a quarter century ago and the policy interventions by the government have brought about social progress in some areas. However, the colonial and apartheid domination still shapes access to social-economic opportunities in South Africa. In anything, income and wealth inequality has increased since 1994. The goal of racial justice appears far from being achieved.

The key implication arising from the research is that strengthening political organisations of the working class and the poor is critical to attaining the goal of social equity. This is particularly true in a context where elite interests in the state and the corporate sector have been ascendant for the past two decades.

What is original about the paper is that it is one of the first papers that assess the progress that has made in bringing about racial justice 25 years after the advent of democracy in South Africa. Furthermore, the paper uses the power resources theory to explain the dearth of pro-poor social reform in South Africa. This is a departure from the dominant approach, which explains the adoption of neoliberalism in South Africa as either inevitable due to poor economic performance or an outcome of the sell-out by the ANC political elite.

This study aims to investigate the role of Islamic finance in supporting sustainable economic growth, innovation and digital transformation in the Gulf Cooperation Council (GCC) region. Amid global challenges like the Russia–Ukraine conflict and COVID-19, the focus extends beyond the GCC’s oil dependency to explore how Islamic finance can enable technological advancements and foster a digitally innovative economy. The research aims to reveal the potential of Islamic finance in driving economic diversification, technological progress and sustainable development in the GCC.

Using a content analysis approach, this study critically examines the economic repercussions of recent global crises, shedding light on how Islamic finance contributes to socio-economic justice and the provision of social goods in the GCC. The research synthesises findings from various secondary sources, including academic literature, reports and industry standards, to analyse Islamic finance’s role from an ethical and strategic perspective within the GCC’s evolving economic landscape.

The findings reveal Islamic finance’s potential to significantly contribute to the GCC’s economic diversification and resilience against global economic downturns. The study highlights how Islamic finance aligns with the sustainable development goals and its effectiveness in promoting ethical financial practices and socio-economic justice.

Future research should focus on global comparative studies to understand Islamic finance’s impact on sustainable development beyond the GCC. Longitudinal studies are also essential to assess the long-term effects of Islamic financial instruments on economic stability.

The research advocates for incorporating Islamic finance principles into the GCC’s economic strategies, emphasising its role in providing resilient and ethical financial alternatives conducive to sustainable development. It underscores the need for policy initiatives integrating Islamic finance to bolster socio-economic welfare and environmental sustainability.

Offering a novel perspective, this paper enriches the discourse on the contribution of Islamic finance to sustainable economic development. It presents critical insights into how Islamic finance can underpin long-term economic resilience and growth in the GCC. It provides valuable implications for academia and policymaking, particularly in emerging economies’ science and technology policy management.

This paper aims to present a conceptual model on the efficiency and governance of zakat institutions that are responsible in collecting, managing and distributing zakat in Malaysia. Zakat is an Islamic religious “tax” charged on the rich and well‐to‐do members of the community for distribution to the poor and the needy as well as other beneficiaries based on certain established criteria according to the Qur'an. The main aim of zakat is to protect the socio‐economic welfare of the poor and the needy.

The paper reviews and synthesises the relevant literature on efficiency, governance and zakat. The paper then developed and proposed a conceptual model to study the efficiency and governance of zakat institutions.

The paper identifies the appropriate methods to evaluate efficiency and governance of zakat institutions. Such evaluations are crucial for the Islamic financial system to function effectively in order to achieve the noble objectives of socio‐economic justice through proper distribution of wealth.

This paper presents a conceptual model of efficiency and governance of zakat institutions which would be useful for further empirical research in this area. The findings are not only relevant and applicable to Malaysia but also to other Muslim countries.