Introduction The concept of Islamic finance has undergone considerable expansion over the last few years, as evidenced by the many Islamic Financial Institutions (IFIs), which have been developed across the globe. A study conducted by the Council for Islamic Banks and Financial Institutions (CIBAFI) in 2004 shows that IFIs grew...
Introduction Governments have a responsibility to balance between their country’s expenditure and revenue by formulating and enacting monetary and fiscal policies. Moreover, governments should ensure that they balance between the application of the monetary and fiscal policies to stimulate economic growth. This assertion arises from the view that the implemented...
Background The flat tax rate policy is a policy that has elicited mixed reactions from policymakers, politicians, taxpayers, and governments across the world. The controversy of the flat tax rate lies in the effects on economic growth and fairness among taxpayers. Fundamentally, the flat tax rate is a form of...
