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Author: Toseef Azid Publisher: World Scientific ISBN: 9811272700 Category : Business & Economics Languages : en Pages : 265
Book Description
Islamic institutions have had a very long history, whose performance was muted during the Colonial Period. However, after the Second World War, the revival of the Islamic institutions began. Throughout its history, it had been assumed that these institutions are working for the betterment of humanity. Their target is to achieve a high level of the welfare for the concerned community. Historically these institutions were waqf, zakat and sadaqat. However from the last three decades, Islamic financial institutions have been established with the objective of providing interest- free products, transaction and services for Muslims. However there has been lot of criticism on the performance and role of these institutions. This becomes especially pertinent in a Muslim country like Indonesia, where there is a dire need to know that how these institutions are working and if it is possible for them to achieve the objectives of the Shari'ah. Some scholars have claimed that these institutions are performative and only serving 'lip service', and there are no significant differences between the Islamic and secular institutions where both kinds of institutions operate on the same foundations and differ only in use of technical terminologies. This volume aims to analyze some of the Islamic institutions which are operating in the world's biggest Muslim country, Indonesia, as a case study and analyze the contemporary Islamic Banking products and practices in the light of 'Maqasad al-Shari'ah'. The book's objective is to propose an improved system of Islamic institutions for Muslims to refer to. This volume will also analyze why these institutions are currently not able to comply with the Maqasad al Shari'ah and how it is possible to enhance the level of economic development, social wellbeing, individual freedom and equality, elimination of injustice and poverty, and achieve the other targets of the Maqasad through these institutions.
Author: Toseef Azid Publisher: World Scientific ISBN: 9811272700 Category : Business & Economics Languages : en Pages : 265
Book Description
Islamic institutions have had a very long history, whose performance was muted during the Colonial Period. However, after the Second World War, the revival of the Islamic institutions began. Throughout its history, it had been assumed that these institutions are working for the betterment of humanity. Their target is to achieve a high level of the welfare for the concerned community. Historically these institutions were waqf, zakat and sadaqat. However from the last three decades, Islamic financial institutions have been established with the objective of providing interest- free products, transaction and services for Muslims. However there has been lot of criticism on the performance and role of these institutions. This becomes especially pertinent in a Muslim country like Indonesia, where there is a dire need to know that how these institutions are working and if it is possible for them to achieve the objectives of the Shari'ah. Some scholars have claimed that these institutions are performative and only serving 'lip service', and there are no significant differences between the Islamic and secular institutions where both kinds of institutions operate on the same foundations and differ only in use of technical terminologies. This volume aims to analyze some of the Islamic institutions which are operating in the world's biggest Muslim country, Indonesia, as a case study and analyze the contemporary Islamic Banking products and practices in the light of 'Maqasad al-Shari'ah'. The book's objective is to propose an improved system of Islamic institutions for Muslims to refer to. This volume will also analyze why these institutions are currently not able to comply with the Maqasad al Shari'ah and how it is possible to enhance the level of economic development, social wellbeing, individual freedom and equality, elimination of injustice and poverty, and achieve the other targets of the Maqasad through these institutions.
Author: Toseef Azid Publisher: ISBN: 9789811272691 Category : Banking law (Islamic law) Languages : en Pages : 0
Book Description
"Islamic institutions have had a very long history, whose performance was muted during the Colonial Period. However, after the Second World War, the revival of the Islamic institutions began. Throughout its history, it had been assumed that these institutions are working for the betterment of humanity. Their target is to achieve a high level of the welfare for the concerned community. Historically these institutions were waqf, zakat and sadaqat. However from the last three decades, Islamic financial institutions have been established with the objective of providing interest- free products, transaction and services for Muslims. However there has been lot of criticism on the performance and role of these institutions. This becomes especially pertinent in a Muslim country like Indonesia, where there is a dire need to know that how these institutions are working and if it is possible for them to achieve the objectives of the Shari'ah. Some scholars have claimed that these institutions are performative and only serving 'lip service', and there are no significant differences between the Islamic and secular institutions where both kinds of institutions operate on the same foundations and differ only in use of technical terminologies. This volume aims to analyze some of the Islamic institutions which are operating in the world's biggest Muslim country, Indonesia, as a case study and analyze the contemporary Islamic Banking products and practices in the light of 'Maqasad al-Shari'ah'. The book's objective is to propose an improved system of Islamic institutions for Muslims to refer to. This volume will also analyze why these institutions are currently not able to comply with the Maqasad al Shari'ah and how it is possible to enhance the level of economic development, social wellbeing, individual freedom and equality, elimination of injustice and poverty, and achieve the other targets of the Maqasad through these institutions"--
Author: Zamir Iqbal Publisher: World Bank Publications ISBN: 0821399535 Category : Business & Economics Languages : en Pages : 376
Book Description
Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1451960980 Category : Business & Economics Languages : en Pages : 58
Book Description
The paper analyzes the bearing of Islamic teachings on the conduct of fiscal policy. It is shown that Islamic teachings do not prescribe any rigid system of public finance. The major emphasis is on the state’s responsibility to assure at least a basic minimum standard of living for all citizens. The paper deals with issues related to evolution of fiscal policies best suited to achieve this and other Islamic socio-economic objectives in the specific framework of Islamic teachings. The implications of such a system for growth, monetary stability, resource allocation, and pattern of income distribution are also examined.
Author: Toseef Azid Publisher: Emerald Group Publishing ISBN: 1789730090 Category : Business & Economics Languages : en Pages : 368
Book Description
Research in Corporate and Shari'ah Governance in the Muslim World: Theory and Practice aims to address a critical disciplinary gap between Islamic theory and the practice of the corporate sector in the Muslim World. Adopting a critical approach, the book sheds light on the impact of corporate governance on the economies of the Muslim world.
Author: Wafik Grais Publisher: World Bank Publications ISBN: Category : Account Holders Languages : en Pages : 46
Book Description
This paper reviews institutions offering Islamic financial services (IIFS) corporate governance challenges and suggests options to address them. It first points out the importance of corporate governance for IIFS, where it would require a distinct treatment from conventional corporate governance and highlights three cases of distress of IIFS. It then dwells on prevailing corporate governance arrangements addressing IIFS' needs to ensure the consistency of their operations with Islamic finance principles and the protection of the financial interests of a stakeholders' category, namely depositors holding unrestricted investment accounts. It raises the issues of independence, confidentiality, competence, consistency, and disclosure that may bear on pronouncements of consistency with Islamic finance principles. It also discusses the agency problem of depositors holding unrestricted investment accounts. The paper argues for a governance framework that combines internal and external arrangements and relies significantly on transparency and disclosure of market relevant information.
Author: Zamir Iqbal Publisher: Springer ISBN: 3319663909 Category : Business & Economics Languages : en Pages : 203
Book Description
This book provides an introductory theoretical foundation of the ethics embedded in Islamic economics and finance, and it shows how this ethical framework could pave the way to economic and social justice. It demonstrates how Islamic finance—a risk-sharing and asset-backed finance—has embedded universal values, ethical rules, and virtues, and how these qualities may be applied to a supposedly value-neutral social science to influence policy-making. This book argues that ethical and responsible finance, such as Islamic finance, could lead the efforts to achieve sustainable economic development. Iqbal and Mirakhor then conduct a comparative analysis of Islamic and conventional financial systems and present Islamic finance as an alternative that can address today’s growing problems of inequality, social injustice, financial repression, unethical leadership, and lack of opportunity to share prosperity.
Author: M. Iqbal Publisher: Springer ISBN: 0230503225 Category : Social Science Languages : en Pages : 209
Book Description
This text explains how Islamic banking works and what it offers as an alternative model of financial intermediation. Important questions addressed include: Why Islamic banking started and where it is going? Who are the main players at present and whom it will attract in future? What are its strengths and weaknesses? Will Islamic banks survive in highly competitive and globalized financial markets? What are their prospects and potentials? How does the relative performance and efficiency of Islamic banks compare to conventional banks?
Author: Toseef Azid
Author: Toseef Azid
Author: Toseef Azid
Author: Mehmet Asutay
Author: Zamir Iqbal
Author: International Monetary Fund
Author: Habib Ahmed
Author: Toseef Azid
Author: Wafik Grais
Author: Zamir Iqbal
Author: M. Iqbal