Abstract
The importance of articles on business related cases in academic disciplines cannot
be overemphasized particularly for disciplines like Islamic banking and finance that are
fundamentally different from the conventional one and are in emerging stage. The academia
in Islamic finance is usually criticized for its abstraction and oversighting of the pragmatics
of Islamic Finance. The detailed practical knowledge, in addition to theoretical discussions,
occurs at different stages in actual practices in any area, and more so in case of Islamic
finance. Such contextually oriented knowledge, may be better documented as narrative cases,
could be more useful for both enhancing the depth of academic understanding of Islamic
finance models as well as their application in the light of the reported narratives.
A narrative or a case of practice is a continues time-n-space wise connected factual or
hypothetical discourse that constitutes sequential process of a situation or an incident, product
application, treatment, decision or any other focus area in the related field. Such narratives
serve as a complete knowledge packet. Meaningful narratives could relatively be more useful
in communicating the depth and the procedure of Islamic financial transactions to the readers
and more specifically to the trainees in any Islamic finance training and education programs.
The Center for Excellence in Islamic Finance, at the Institute of Management Sciences,
(CEIF IMSciences), Pakistan initiated narrative studies development project in collaboration with the Riphah Centre for Islamic Business (RCIB), Riphah International University
Islamabad and the International Shar¯i‘ah Research Academy for Islamic Finance (ISRA),
Kuala Lumpur to document various episodic processes on implementation of various Islamic
financial products to enhance the practice oriented knowledge of different areas in Islamic
finance. As part of the project, a Call was given for preparation and submission of narratives in any areas of Islamic Finance. The draft articles received were put in double-blind
peer review process involving both internal and external reviewers. While within Pakistan,
cases were sent to different experts, for foreign review the cases were mostly sent to the
globally renowned Islamic finance research institution-ISRA, the Islamic finance research
arm established under the auspices of the Bank Negara Malaysia
Muhammad Ayub, Dr. Karim Ullah, Dr. Noor Suhaida Kasri. (2018) The Pragmatics of Islamic Finance, Journal of Islamic Business and Management, Volume 8, Issue S.
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