Prof. Dr. Volker Nienhaus
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Ph.D. in Economics, University of Bochum, Germany (1979)

Selected Publications on Islamic Economics and Finance

Nienhaus, Volker (1982): “Islamic Economics” – Policy between Pragmatism and Utopia, in: Economics [Tübingen], Vol. 25 (1), pp. 80-100 [reprinted: The Universal Message, Vol. 3, Karachi 1982, No. 6, pp. 9-13, No. 8, pp. 19-23].
Nienhaus, Volker (1983): Profitability of Islamic PLS Banks Competing with Interest Banks – Problems and Prospects, in: Journal of Research in Islamic Economics, Vol. 1 (1), pp. 37-47. [Arabic version in: al-Muslim al-Mu’asir, Vol. 11, No. 43, Kuwait 1985, pp. 87-99].
Nienhaus, Volker (1985): Epistemology, Methodology and Economic Policy – Some Thoughts on ‘Mainstream’, Austrian and Islamic Economics, in: Humanomics, Vol. 1 (2), pp. 10-38 [reprinted in: Humanomics, Vol. 5, No. 1, Hull 1989, pp. 91-112].
Nienhaus, Volker (1985): Principles, Problems and Perspectives of Islamic Banking, in: Intereconomics [Hamburg], Vol. 20 (5), pp. 233-238.
Nienhaus, Volker (1986): Inter-Islamic Economic Cooperation and Integration, in: Erol Manisali (ed.): Outward Oriented Policies and Implementations in the Newly Industrializing Countries, Istanbul: MEBB and Garanti Bankasi, pp. 51-65 [reprinted in: Masudul Alam Choudhury (ed.): Islamic Economic Cooperation, London (Macmillan) 1989, pp. 203-229].
Nienhaus, Volker (1986): Islamic Economics, Banking and Finance – Theory and Practice, in: Islamic Banking and Finance, London: Butterworths, pp. 1-17 [also in: Journal of Islamic Banking and Finance, Vol. 3 (2), Karachi 1986, pp. 36-54].
Nienhaus, Volker (1986): Value Added Participation (VAP) – A New Financing Instrument for Islamic Banks [Workshop Paper No. 3] – Workshop on “Industrial Financing Activities of Islamic Banks”, organized by United Nations Industrial Development Organization, Vienna, 16-20 June 1986.
Nienhaus, Volker (1987): Economic Cooperation and Integration among Islamic Countries – International Framework and Economic Problems, Jeddah: Islamic Research and Training Institute.
Nienhaus, Volker (1988): Restatements of Normative Economics – Western Approaches and Islamic Perspectives, in: Masudul Alam Choudhury (ed.): Policy-Theoretic Foundations of Ethico-Economics – Selected Papers [= Humanomics, Vol 4, No 3/4], Sydney, NS: University College of Cape Breton, pp. 27-66.
Nienhaus, Volker (1988): The Performance of Islamic Banks – Trends and Cases, in: Chibli Mallat (ed.): Islamic Law and Finance, London: Graham & Trotman, pp. 129-170.
Nienhaus, Volker (1990): Le contrôle bancaire et la politique des banques centrales: étude comparative, in: Gilbert Beaugé (ed.): Les capitaux de l’islam, Aix-en-Provence: Presses du CNRS, pp. 165-189, 259-261.
Nienhaus, Volker (1990): Normative and Positive Knowledge in Political Economy – New Answers to Old Questions?, in: Humanomics, Vol. 6 (3), pp. 32-54.
Nienhaus, Volker (1992): Problems and Potentials of South-South Trade with Special Reference to Islamic Countries, in: M.A. Mannan, Monzer Kahf and Ausaf Ahmad (eds.): International Economic Relations from Islamic Perspectives, Jeddah: Islamic Research and Training Institute, pp. 111-138.
Nienhaus, Volker (1993): The Political Economy of Development Finance, in: Managerial Finance, Vol. 19 (7), pp. 8-20.
Nienhaus, Volker (1994): Islamic Banking and German Banking Law, in: Gian Maria Piccinelli (ed.): Banche islamiche in contesto non islamico (Islamic Banks in a non Islamic Framework), Rome: Istituto per l’Oriente, pp. 285-297.
Nienhaus, Volker (1996): Trade Relations, Factor Movements and Islamic Common Market, in: Ayubur Rahman Bhuyan et al. (ed.): Towards an Islamic Common Market, Dhaka: Islamic Economics Research Bureau, pp. 91-105.
Nienhaus, Volker (1997): Taxation and Public Finance, in: Sohrab Behdad and Farhad Nomani (eds.): Islam and Public Policy [= special edition of International Review of Comparative Public Policy, Vol. 9], Greenwich, Conn. and London: JAI Press, pp. 249-275.
Nienhaus, Volker; Brauksiepe, Ralf (1997): Explaining the Success of Community and Informal Economies – Shared Altruistic Values or Effective Social Control?, in: International Journal of Social Economics, Vol. 24 (12), pp. 1422-1438.
Nienhaus, Volker (1999): Promoting Development and Stability through a Euro-Mediterranean Free Trade Zone?, in: European Foreign Affairs Review, Vol. 4, pp. 501-518.
Nienhaus, Volker (2002): Islam, Democracy and Market Economy, in: Internationale Politik – Transatlantic Edition, Vol. 3 (2), pp. 58-64.
Nienhaus, Volker (2005): Corporate Governance in Islamic Banks, in: Tariqullah Khan and Dadang Muljawan (eds.): Islamic Financial Architecture – Risk Management and Financial Stability, Jeddah: IRTI 2005, pp. 289-302.
Nienhaus, Volker (2006): Zakat, Taxes, and Public Finance in Islam, in: Sohrab Behdad and Farhad Nomani (eds.): Islam and the Everyday World – Public Policy Dilemmas, Abingdon and New York: Routledge, pp. 165-192.
Nienhaus, Volker (2007): Governance of Islamic Banks, in: M. Kabir Hassan and Mervyn K. Lewis (eds.): Handbook of Islamic Banking, Cheltenham, U.K. and Northampton, Mass.: Edward Elgar, pp. 128-143.
Nienhaus, Volker (2007): Human Resource Management of Islamic Banks – Responses to Conceptual and Technical Challenges, in: Simon Archer and Rifaat Ahmed Abdel Karim (eds.): Islamic Finance – The Regulatory Challenge, Singapore: John Wiley & Sons, Asia, pp. 381-399.
Archer, Simon; Karim, Rifaat Ahmed Abdel; Nienhaus, Volker (2009): Business Models in Takaful and Regulatory Implications, in: Simon Archer, Rifaat Ahmed Abdel Karim and Volker Nienhaus (eds.): Takaful Islamic Insurance – Concepts and Regulatory Issues, Singapore: John Wiley (Asia), pp. 9-30.
Archer, Simon; Karim, Rifaat Ahmed Abdel; Nienhaus, Volker (2009): Corporate Governance and Stakeholder Rights in Islamic Insurance, in: Simon Archer, Rifaat Ahmed Abdel Karim and Volker Nienhaus (eds.): Takaful Islamic Insurance – Concepts and Regulatory Issues, Singapore: John Wiley (Asia), pp. 47-66.
Nienhaus, Volker (2010): Islamic Economics in Practice: Interest-Free Financial Management, in: Werner Ende and Udo Steinbach (eds.): Islam in the World Today: A Handbook of Politics, Religion, Culture, and Society, Ithaca and London: Cornell University Press, pp. 141-192, 862-870.
Nienhaus, Volker (2010): Islamic Finance and Financial Crisis – Implications for Islamic Banking, in: Islamic Financial Services Board (ed.): The Changing Landscape of Islamic Finance – Imminent Challenges and Future Directions, Kuala Lumpur: IFSB, pp. 1-26.
Archer, Simon; Karim, Rifaat Ahmed Abdel; Nienhaus, Volker (2010): Islamic Finance and Financial Crisis – Implications for Takaful, in: Islamic Financial Services Board (ed.): The Changing Landscape of Islamic Finance – Imminent Challenges and Future Directions, Kuala Lumpur: IFSB, pp. 27-49.
Nienhaus, Volker (2010): Fundamentals of an Islamic Economic Order Compared to the Social Market Economy – A Systematic Overview, in: KAS International Reports, Issue 11/2010, pp. 75-96.
Nienhaus, Volker (2010): Capacity Building in the Financial Sector – Strategies for Strengthening Financial Institutions [Inaugural Islamic Financial Stability Forum, Khartoum, 6 April 2010]. Kuala Lumpur: IFSB.
Nienhaus, Volker (2011): Case for Separation [Narrow Banking], in: Quantum – Finance in Perspective, Issue 13, January 2011, pp. 8-13.
Nienhaus, Volker (2011): Islamic Economics and Financial Sector Reforms, in: Islamic Finance News, Vol. 8, No. 10 [16 March 2011], pp. 23-24.
Nienhaus, Volker (2011): Islamic Finance Ethics and Shari’ah Law in the Aftermath of the Crisis: Concept and Practice of Shari’ah Compliant Finance, in: Ethical Perspectives, Vol. 18, No. 4, pp. 891-623.
Nienhaus, Volker (2012): Country Report Germany: More Talks, Little Action, in: Islamic Finance News Guide 2012, Kuala Lumpur: RedMoney, February 2012,
Nienhaus, Volker (2012): Does Islamic Finance Contribute to Economic Development? Paper presented at the 10th Harvard University Forum on Islamic Finance: „Islamic Finance and Development“, Harvard Law School, Cambridge, Mass., 24-25 March 2012.

Prof Dr Volker Nienhaus received his doctorate in economics (1979) and his post-doctorate (1985) from the University of Bochum. He was full professor of economics at the German universities of Trier (1989-1990) and Bochum (1990-2004) where he also was director of the Institute of Develop¬ment Research and Development Policy and vice rector for structure, planning and finance from 2000 to 2003. He was president of the University of Marburg from 2004 to 2010. He holds an honorary professorship of the University of Bochum and an honorary doctorate of the I.M. Sechenov Moscow Medical Academy (since 2009).

He became a Visiting Professor at the ICMA Centre, Henley Business School, University of Reading (UK) in 2010. In addition, he was Visiting Scholar at the University of Malaya under the Securities Commission Malaysia Islamic Capital Market Programme (2010/11) and Visiting Professor at the Faculty of Islamic Studies of Qatar Foundation, Doha (2011). He served as a member of several academic advisory committees and boards in Germany, and he was consultant to the Islamic Financial Services Board. His current research interests are in service sector economics and Islamic economics and finance.