A Review of Literatures on Current Zakat Issues
... be done by constantly improving zakat management, maintaining good will, becoming more transparent
and conducting more productive distribution scheme (Ahmad, 2006, p. 181).
Many studies urged that to implement the zakat localization as a potential public policy, a consensus
must be collected from th ...
... Those wealth or property which could in nature expand or grow by
themselves for instance the agricultural produce such as paddy will
fall under this category of wealth.
There is no haul condition to be fulfilled for this type of wealth.
Zakat is payable once the wealth is gained and the quantity ...
... Supply-side Economics
In 1980’s American economy was hit by
stagflation. Most of the economists blamed
over-regulation, decreasing productivity and
motivation to increase output among
Neoclassical economic thinking surfaced in the
disguise of supply-side economics calling for
changes i ...
... and the second from a religious sense. Studies in the first area have focused on
“accounting in parts of the world where Islam is the majority religion during periods
when Islam has been dominant” (Napier, 2009, p. 124), and this is the main focus of
The second category of studies se ...
THE CHALLENGES OF CONVENTIONAL BANKING PRACTICE
... addition to compliance dimensions to measure the quality of Malaysian Islamic Banking
services. Their respondents were the Muslim customers and non-Muslims who visit the bank
counters. They must have an account with one of the full-fledged Islamic Banks and dualbanking systems. Their findings showe ...
Shaikh A. Hamid Associate Professor of Finance Working Paper No. 2006-01
... God, he has to contribute some of his energies to the propagation of truth and goodness,” and has
to spend of “his time and effort for the improvement of the spiritual, moral and economic life of
the community.”12 This implies that a Muslim cannot limit his time and energies to performing
those acts ...
depositors` behavior and economic condition leading to liquidity risk
... industry but this reality explains that real sector’s performance is not yet optimal. Financing
expansion planned by Islamic banks might be limited due to this economic reality.
Lastly, as most of other Moslem countries, Indonesian economic system is still based on
interest. Because any economic dec ...
The Economic System in Contemporary Islamic Thought
... of norms of altruism. A variety of studies by sociologists and economists show
that in a small commune or tribe, where people live in fairly continuous contact
and share similar experiences and preferences, individual members tend to display
considerable altruism toward the community at large.'1 Thi ...
Islamic Financial Development and Economic Growth
... According to the theory, the development of the banking industry is favourable to the
economic growth because the activity of the banks increases the mobilization of the saving, improves
the efficiency of the resources allowance, and stimulates the technological innovation. Most studies
(including r ...
Constraints on Growth in Islamic Finance
... global financial sector lost almost US$1.8 trillion, which
sent many economies into a recession. Financial
markets had been subject to gross liberalisation over the
last ten years, which allowed financial institutions to dish
out credit to uncreditworthy customers and create the
highly complex finan ...
in MS PowerPoint Format
... •Remove the burden of interest on money from
public life, finances and the banking system
•Remove direct and indirect taxes as the sole
source of government revenue and replace it with
a system based on investment and growth
•Do this by placing Islamic principles as the
driving force behind economic ...
Incentive Structure of Financing a Project: An Islamic Finance
... shows empirically that Musharakah and Mudarbaha financing
are almost negligible. They show that their shares are 0.8% in
2006 and 1.55% in 2007. Although it rose to 2.9% in 2010 but it
declined to 2.40% in 2011. In this case PLS financing increased
a little but it is not very encouraging. It was als ...
Ummah Economic Remedy: Between Islamic Economics and
... holistic when it is concentrated only in the production and consumption of goods and services without considering its relation to politics? This
paper attempts to find the answers to these questions. Based on literature review and textual analysis, this paper firstly re-evaluates the status of
“The Genesis of Islamic Economics” Revisited
... this respect (Seoharwi, 1969, 1939, pp. 393-94). The same feeling was expressed in
1946 by Shaikh Mahmud Ahmad (d. 1990) in the preface of his work (1952, p. vi).
if Islamic economic order is something which can and ought to be practiced
today by the Musalmāns, it should recommend itself to ...
A Macro Model of Distribution in An Islamic Economy
... ix) The government assumes a regulatory role and conducts economic policy in
such a way as to maximize a social welfare function formulated in the light of
Shari'ah. It intervenes into market processes if and only when private
endeavors cannot achieve the desirable social goals.
Full Text - Journal of Islamic Banking and Finance
... 2007; and the crisis is still expected to influence many other political developments.
Islamic faith is not all about mystical rituals and prayers; instead, it covers all aspects of life. It
focuses on the human being and offers practices in every field of life. Finance and economy are
important par ...
... economics has little important in Islamic economics because of its
uniqueness. The apparently normative principles as reflected in the
Shariah have acquired a status of an objective set of standard for the
purpose of evaluation of economic problem to an Islamic frame of mind,
as an Islamic world vie ...
CALIBRI BOLD 42 pt Islamic Banking
... individual liberty, freedom of choice, private property and enterprise.
On the other hand, it seeks to provide effective moral filters at different levels of
life and activity and established institiutions in the voluntary sector, as well as
through state apparatus to ensure economic development and ...
... • So all is well, the GSmult should be high,
the conditions are perfect!!!!
• So what is the problem??
• Back to Aggregate Demand….what do we
hold constant along any Aggregate
`True Man`: The True Economic Man for Islamic Economics
... they vehemently stress, ‘but now economists are
beginning to reflect on the limitations of homo
economicus as an explanatory model’. When
many market analysts are now realizing that
these unpredictable happenings were caused
by the moral failure of homo economicus
who lacks vision and has little con ...
IOSR Journal of Business and Management (IOSR-JBM)
... have contributed in the process of producing some kind of wealth.
2) Secondary Right to Wealth:It is called redistribution of wealth because in a society all the people who have
not directly contributed in the process of production for example orphans, widows,children, wayfarer, poor and
needy but i ...
Islamic economics versus market economics: The concept of taxations
... “Islam is a way of life”, asserted Reilly and Zanganeh (1990, p.28), “This is important because it dismisses
separation of ethics, economics, politics, sociology, religion, etc. All aspects of life are interrelated. One cannot
separate a company’s president or a country’s president from the environm ...
Foundation of Islamic Economics ECON1710
... • From the definition of Islamic Economics given in
Chapter 1, you can either find the values etc. directly in
the sources of Islam or you have to ‘derive’ the
meaning. The latter is essential since most answers to
our contemporary economic problems are not found
directly in the Quran as it is not a ...
Are Moral Islamic Economics an Answer to the Global
... Dollars. In 2011, new debts reached 1300 Trillions and the growth was of 280 Trillions. It
means that more and more debts are necessary for less and less growth. It is difficult to assess
the potential debt of the Credit Default Swaps but some analysts evaluate it around thousands
trillions dollars. ...
Islamic economics (Arabic: الاقتصاد الإسلامي), also Islamic commercial jurisprudence or fiqh al-mu'āmalāt (Arabic: فقه المعاملات), refers to the rules of transacting finance or other economic activity in a Shari'a compliant manner, i.e., a manner conforming to Islamic scripture (Quran and sunnah). Islamic jurisprudence (fiqh) has traditionally dealt with determining what is required, prohibited, encouraged, discouraged, or just permissible, according to (what Muslims believe to be) the revealed word of God (Quran) and the religious practices established by the (Islamic) Prophet (sunnah). This applied to issues like property, money, employment, taxes, along with everything else. The social science of economics, on the other hand, studied how to best achieve certain policy goals, such as full employment, price stability, equity economic and productivity growth.In the mid-twentieth century, campaigns began promoting the idea of specifically Islamic patterns of economic thought and behavior. By the 1970s, ""Islamic economics"" was introduced as an academic discipline in a number of institutions of higher learning throughout the Muslim world and in the West. The central features of an Islamic economy are often summarized as: (1) the ""behavioral norms and moral foundations"" derived from the Quran and Sunnah; (2) collection of Zakat and other Islamic taxes, (3) prohibition of interest (riba) charged on loans.Advocates of Islamic economics generally describe it as neither socialist nor capitalist, but as a ""third way"", an ideal mean with none of the drawbacks of the other two systems.Among the claims made for an Islamic economic system by Islamic activists and revivalists are that the gap between the rich and the poor will be reduced and prosperity enhanced by such means as the discouraging of the hoarding of wealth,taxing wealth (through zakat) but not trade, exposing lenders to risk through Profit sharing and venture capital,discouraging of hoarding of food for speculation,and other sinful activities such as unlawful confiscation of land.