Islamic Monetary Economics And Institutions

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Islamic Monetary Economics and Institutions

Muhamed Zulkhibri,Turkhan Ali Abdul Manap,Aishath Muneeza
Islamic Monetary Economics and Institutions Book PDF

Author : Muhamed Zulkhibri,Turkhan Ali Abdul Manap,Aishath Muneeza
Publisher : Springer Nature
Page : 201 pages
File Size : 48,5 Mb
Release : 2019-10-01
Category : Business & Economics
ISBN : 9783030240059

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Islamic Monetary Economics and Institutions by Muhamed Zulkhibri,Turkhan Ali Abdul Manap,Aishath Muneeza Pdf

This edited volume explores theoretical and empirical issues related to monetary economics and policy in the Islamic financial system. Derived from the Conference on Islamic Monetary Economics and Institutions: Theory and Practice 2017 held in Malé, Maldives, the enclosed papers highlights several option for authorities and regulatory bodies regarding monetary policy and regulation, as well as discussing how Islamic monetary policy effects growth, financial stability and resilience to shocks in practice. The inter-linkage between Islamic monetary policy and other markets are also explored. The subject of Islamic economics has gained considerable attention in the last four decades with the emergence of Islamic financial institutions around the world. This phenomenon has motivated economists to develop a comprehensive theoretical framework of modern monetary economics for Islamic economic system. An important characteristic of the Islamic economic system is the abolition of interest from the financial system. Islamic monetary economics is distinguished from conventional monetary economics due to the absence of interest. Therefore, under the Islamic economic system, monetary policy has to depend on other tools. In the early theoretical literature on Islamic monetary economics, many have discussed the role of money in Islamic economics system, while the number of empirical studies on Islamic monetary economics is a relatively new phenomenon. According to Islamic scholars, there are three main goals of Islamic monetary policy: a) economic well-being with full employment and optimum rate of economic growth; b) socioeconomic justice and equitable distribution of income and wealth and c) stability in the value of money. Hence, the Islamic monetary policy has several socioeconomic and ethical implications. Featuring regional case studies, this book serves as a valuable resource for academics, scholars, practitioners and policy makers in the areas of Islamic economics and finance.

Islamic Monetary Economics and Institutions

Anonim
Islamic Monetary Economics and Institutions Book PDF

Author : Anonim
Publisher : Unknown
Page : 214 pages
File Size : 50,5 Mb
Release : 2019
Category : Finance
ISBN : 3030240061

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Islamic Monetary Economics and Institutions by Anonim Pdf

This edited volume explores theoretical and empirical issues related to monetary economics and policy in the Islamic financial system. Derived from the Conference on Islamic Monetary Economics and Institutions: Theory and Practice 2017 held in Malé, Maldives, the enclosed papers highlights several option for authorities and regulatory bodies regarding monetary policy and regulation, as well as discussing how Islamic monetary policy effects growth, financial stability and resilience to shocks in practice. The inter-linkage between Islamic monetary policy and other markets are also explored. The subject of Islamic economics has gained considerable attention in the last four decades with the emergence of Islamic financial institutions around the world. This phenomenon has motivated economists to develop a comprehensive theoretical framework of modern monetary economics for Islamic economic system. An important characteristic of the Islamic economic system is the abolition of interest from the financial system. Islamic monetary economics is distinguished from conventional monetary economics due to the absence of interest. Therefore, under the Islamic economic system, monetary policy has to depend on other tools. In the early theoretical literature on Islamic monetary economics, many have discussed the role of money in Islamic economics system, while the number of empirical studies on Islamic monetary economics is a relatively new phenomenon. According to Islamic scholars, there are three main goals of Islamic monetary policy: a) economic well-being with full employment and optimum rate of economic growth; b) socioeconomic justice and equitable distribution of income and wealth and c) stability in the value of money. Hence, the Islamic monetary policy has several socioeconomic and ethical implications. Featuring regional case studies, this book serves as a valuable resource for academics, scholars, practitioners and policy makers in the areas of Islamic economics and finance.

Islamic Monetary Economics

Taha Eğri,Zeyneb Hafsa Orhan
Islamic Monetary Economics Book PDF

Author : Taha Eğri,Zeyneb Hafsa Orhan
Publisher : Routledge
Page : 257 pages
File Size : 47,7 Mb
Release : 2020-12-10
Category : Business & Economics
ISBN : 9781000289978

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Islamic Monetary Economics by Taha Eğri,Zeyneb Hafsa Orhan Pdf

The existence of fiat currencies has long been cited as one of the major contributing factors to the challenges facing contemporary economies, and the current monetary system is not only a key source of exorable increases in interest rates but also a principal cause of inflation and decline in the value of money in many countries. The editors argue that an Islamic monetary system, with its specific money concepts, interest-free financial institutions, and monetary policy embedded in real growth, provides a solution to this conundrum. Contributions from many world-renowned experts consider a wide array of topics, ranging from the theoretical concepts of money and banking in conventional and Islamic economics to the historical journey of money from precious metals to plastic money and digital currency today. The book outlines the problems that sprout from interest-based banking and multiple debt structures. It then mirrors the Islamic concepts of money as well as idiosyncrasies of its monetary policy. Supported with meticulous research and empirical evidence, the book demonstrates the efficacy of Islamic monetary system in delivering real growth along with equitable distribution of wealth and prosperity in the economy. It additionally acquaints the readers with juristic debates about money and monetary policy. This is essential reading for both students and researchers in Islamic economics, banking, and finance, expertly promoting a fair and just economic system that emerges as a result of interest-free banking and monetary policy based on Islamic principles.

Institutional Islamic Economics and Finance

Ahsan Shafiq
Institutional Islamic Economics and Finance Book PDF

Author : Ahsan Shafiq
Publisher : Routledge
Page : 196 pages
File Size : 50,9 Mb
Release : 2022-03-31
Category : Business & Economics
ISBN : 9781000567397

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Institutional Islamic Economics and Finance by Ahsan Shafiq Pdf

Institutional economics claims that institutions and policies rather than the size of labour force, technology or capital investment are pivotal for growth or under-development. In this regard there are two kinds of institutions: external institutions expressed in the form of laws, organisations, regulations, companies, banks and the like and internal institutions, which are found in the hearts and consciences of individuals. Against this backdrop, this book acquaints readers with the basic concepts related to institutional economics. It then brings to light the theoretical concepts related to the institutional perspectives on Islamic economics, particularly highlighting areas where Islamic economic institutions lay at the crossroads with conventional ones. The book also ref lects upon the organisational arrangements that comply with the basic tenets of Islamic institutional economics. Further, it brings a collection of real-world case studies into discussion to show the models of Islamic institutions that are pragmatic in today’s business environment. The book contains novel dimensions on the subject, includes conceptual debates as well as practical examples and explores hot topics such as waqf and fintech from an Islamic perspective. This is the first book to exclusively cover this topic and is written by well-known and respected international economists from the field. Since the book is written in an accessible style and the concepts are expressed in plain language, it will find an audience among academics, researchers and students in economics and Islamic economic studies, as well as policymakers and professionals engaged in the Islamic finance industry, seeking to make their services and products conform to an Islamic institutional perspective.

Towards a Just Monetary System

M. Umer Chapra
Towards a Just Monetary System Book PDF

Author : M. Umer Chapra
Publisher : International Institute of Islamic Thought (IIIT)
Page : 19 pages
File Size : 50,9 Mb
Release : 1985
Category : Banks and banking
ISBN : 9780860371472

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Towards a Just Monetary System by M. Umer Chapra Pdf

Towards a Just Monetary System is the first comprehensive study of the goals, nature and operations of the monetary system of Islam, which has justice as one of its most indispensable objectives.For most people, including some Muslims, an interest-free economy is a mystery. Hence a number of questions are asked. Has Islam really prohibited interest and, if so, what is the purpose behind this? Can an economy run without interest? What will be the impact on resource allocation, savings and capital formation, economic stability and growth? Dr. Chapra takes the mystery out of the subject by answering these and a number of other questions by means of a thorough economic analysis. While he shows the rationale behind the prohibition of interest and the strengths of a purely equity-based Islamic economy, he also indicated the problems and gives a realistic proposal for solving them. Dr. Chapra also elaborates the changes that must be introduced in the nature and operations of commercial and central banks: the auxiliary institutions which must be established, and the new tools of monetary policy that must be developed to enable the Islamic money and banking system to function effectively. He however warns that the abolition of interest is not the only value of Islam and unless it is political institutions of Muslim countries, their economies cannot be transformed and socio-economic justice as well as a whole range of other important goals of Islam cannot be realized. This calls for a gradual transformation, but with a total commitment.The Islamic Foundation is an educational and research organization developed to make Islam a living reality in our age. For this purpose, it aims at improving human communication and developing a better understanding of Islam among all people of the world, Muslim and non-Muslim, so as to galvanize man to the message and ideal of One God and the unity of mankind. As brought by all Prophets of God throughout the ages, last of whom was the Prophet Muhammad (blessings of Allah and peace be upon him). An important aspect of the foundation’s multifarious activities is the publication of literature of Islam.

New Issues in Islamic Finance and Economics

Hossein Askari,Zamir Iqbal,Abbas Mirakhor
New Issues in Islamic Finance and Economics Book PDF

Author : Hossein Askari,Zamir Iqbal,Abbas Mirakhor
Publisher : John Wiley & Sons
Page : 268 pages
File Size : 48,8 Mb
Release : 2011-12-19
Category : Business & Economics
ISBN : 9781118179642

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New Issues in Islamic Finance and Economics by Hossein Askari,Zamir Iqbal,Abbas Mirakhor Pdf

New Issues in Islamic Finance & Economics: Progress and Challenges provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.

Monetary Policy, Islamic Finance, and Islamic Corporate Governance

Toseef Azid,Murniati Mukhlisin,Nashr Akbar,Muhammad Tahir
Monetary Policy Islamic Finance and Islamic Corporate Governance Book PDF

Author : Toseef Azid,Murniati Mukhlisin,Nashr Akbar,Muhammad Tahir
Publisher : Emerald Group Publishing
Page : 275 pages
File Size : 49,5 Mb
Release : 2021-06-16
Category : Business & Economics
ISBN : 9781800437883

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Monetary Policy, Islamic Finance, and Islamic Corporate Governance by Toseef Azid,Murniati Mukhlisin,Nashr Akbar,Muhammad Tahir Pdf

Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International overview explores the interrelationships between corporate governance from the perspective of shari’ah, banking industry and monetary policy and is a must-read for students and professionals.

Introduction To Islamic Banking And Finance: An Economic Analysis

M Kabir Hassan,Salman Ahmed Shaikh,Selim Kayhan
Introduction To Islamic Banking And Finance An Economic Analysis Book PDF

Author : M Kabir Hassan,Salman Ahmed Shaikh,Selim Kayhan
Publisher : World Scientific
Page : 257 pages
File Size : 46,7 Mb
Release : 2020-08-12
Category : Business & Economics
ISBN : 9789811222702

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Introduction To Islamic Banking And Finance: An Economic Analysis by M Kabir Hassan,Salman Ahmed Shaikh,Selim Kayhan Pdf

This book, Introduction to Islamic Banking and Finance: An Economic Analysis, covers the basic principles of Islamic economics and finance. It discusses both the theory of Islamic economics and finance as well as the applications in the design of instruments of finance as well as Islamic financial institutions. The book enables its readers to gain an understanding of the structures and operations of Islamic banking, Islamic capital market investments, risk management, and taxation for Islamic banking contracts.The book sets forth the following objectives:

Directory of Islamic Financial Institutions (RLE: Banking & Finance)

John R Presley
Directory of Islamic Financial Institutions RLE Banking Finance Book PDF

Author : John R Presley
Publisher : Routledge
Page : 370 pages
File Size : 41,5 Mb
Release : 2012-05-31
Category : Business & Economics
ISBN : 9781136300028

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Directory of Islamic Financial Institutions (RLE: Banking & Finance) by John R Presley Pdf

When originally published this was the first reference book to address itself to Islamic banking and finance and it offers comprehensive information on all major institutions which have commercial or banking interests in this field. It includes analysis of the principles behind interest-free banking and indicates its relationship with financial institutions in both Islamic countries and Western ones. It also lists the laws governing interest-free banking in countries where it is extensively in operation and provides essential information for all international financial institutions. The Directory lists all banks and financial institutions by country, giving details of their specific role and areas of operation.

An Overview of Islamic Finance

Mr. Mumtaz Hussain,Asghar Shahmoradi,Rima Turk
An Overview of Islamic Finance Book PDF

Author : Mr. Mumtaz Hussain,Asghar Shahmoradi,Rima Turk
Publisher : International Monetary Fund
Page : 35 pages
File Size : 52,8 Mb
Release : 2015-06-02
Category : Business & Economics
ISBN : 9781513565620

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An Overview of Islamic Finance by Mr. Mumtaz Hussain,Asghar Shahmoradi,Rima Turk Pdf

Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.

Islamic Finance and Sustainable Development

M. Kabir Hassan,Mehmet Saraç,Ashraf Khan
Islamic Finance and Sustainable Development Book PDF

Author : M. Kabir Hassan,Mehmet Saraç,Ashraf Khan
Publisher : Springer Nature
Page : 395 pages
File Size : 54,6 Mb
Release : 2021-08-13
Category : Business & Economics
ISBN : 9783030760168

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Islamic Finance and Sustainable Development by M. Kabir Hassan,Mehmet Saraç,Ashraf Khan Pdf

The book is a collection of chapters discussing the Sustainable Development Goals in the broader context of Islamic finance along with mapping the SDGs with Maqasid Al-Shariah. It provides a framework for both Muslim and non-Muslim countries to develop a sustainable economy which encompasses not only the concept of the welfare state but also supports development-related activities, ensures financial inclusion through equal distribution of wealth and alleviation of poverty, and protects the overall environmental and ecological system. More specifically, this book explores various aspects of Islamic finance in relation to parameters of SDGs; restructuring of Islamic finance and connecting its dots in the light of SDGs; Islamic perspective on ESG and ecological quality; interest-free tools and modernization of Islamic financial institutions for sustainable development and economic stability; and the role of Islamic finance in infrastructure-related development activities. Consistent with the view that SDGs are embedded within the theme of Islamic finance, this book is specifically designed to meet the needs of key regulatory institutions, academic scholars, and industry practitioners both in the field of Islamic finance and sustainable finance.​

Financial Inclusion and Poverty Alleviation

Muhamed Zulkhibri,Abdul Ghafar Ismail
Financial Inclusion and Poverty Alleviation Book PDF

Author : Muhamed Zulkhibri,Abdul Ghafar Ismail
Publisher : Springer
Page : 319 pages
File Size : 45,5 Mb
Release : 2017-11-30
Category : Business & Economics
ISBN : 9783319697994

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Financial Inclusion and Poverty Alleviation by Muhamed Zulkhibri,Abdul Ghafar Ismail Pdf

This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial inclusion, within the broader context of inclusive development, is viewed as an important means to tackle poverty and inequality and to address the sustainable development goals (SDGs). This book contributes to the literature on these topics and will be of interest to researchers and academics interested in Islamic finance and financial inclusion.

Critical Issues and Challenges in Islamic Economics and Finance Development

Velid Efendić,Fikret Hadžić,Hylmun Izhar
Critical Issues and Challenges in Islamic Economics and Finance Development Book PDF

Author : Velid Efendić,Fikret Hadžić,Hylmun Izhar
Publisher : Springer
Page : 236 pages
File Size : 53,8 Mb
Release : 2017-05-04
Category : Business & Economics
ISBN : 9783319450292

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Critical Issues and Challenges in Islamic Economics and Finance Development by Velid Efendić,Fikret Hadžić,Hylmun Izhar Pdf

This book explores contemporary issues and trends facing Islamic banks, businesses and economies as presented at the International Conference of Islamic Economics, Banking and Finance. The authors leverage current empirical research and statistics to provide unique and fresh perspectives on the changing world of Islamic finance. They focus specifically on to the implementation of Islamic financial instruments and services in global capital markets and how their success can be evaluated. Chapters feature case studies from all over the world including examples from Afghanistan, Bosnia and Herzegovina and the United Kingdom, to name a few. The breadth and immediacy of the research presented by the authors will appeal to practitioners and scholars alike. The global outlook and rich data-based approach adopted in this book guarantee that it is a timely and valuable addition to the field of Islamic finance.

Islamic Economic Institutions In Indonesia: Are They Successful In Achieving The Maqasad-al-shari'ah

Toseef Azid,Muhammad Syafii Antonio,Zafar Kayani,Murniati Mukhlisin
Islamic Economic Institutions In Indonesia Are They Successful In Achieving The Maqasad al shari ah Book PDF

Author : Toseef Azid,Muhammad Syafii Antonio,Zafar Kayani,Murniati Mukhlisin
Publisher : World Scientific
Page : 265 pages
File Size : 53,6 Mb
Release : 2023-04-10
Category : Business & Economics
ISBN : 9789811272707

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Islamic Economic Institutions In Indonesia: Are They Successful In Achieving The Maqasad-al-shari'ah by Toseef Azid,Muhammad Syafii Antonio,Zafar Kayani,Murniati Mukhlisin Pdf

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.

Islamic Banking and Finance in the European Union

M. Fahim Khan,Mario Porzio
Islamic Banking and Finance in the European Union Book PDF

Author : M. Fahim Khan,Mario Porzio
Publisher : Edward Elgar Publishing
Page : 253 pages
File Size : 49,7 Mb
Release : 2010-01-01
Category : Business & Economics
ISBN : 9781849803410

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Islamic Banking and Finance in the European Union by M. Fahim Khan,Mario Porzio Pdf

As an introduction to the complex issue of harmonization of legal and regulatory structure of the European financial system and Islamic finance, this is a useful and welcome volume. The ideas, insights and practical issues addressed in the informed papers that compose the book should be valuable for academics and students of finance, and to those who provide legal and financial services. The book will be helpful also to European regulators who have yet to appreciate the importance of Islamic finance and its potential contribution to financial globalization as well as to European economic growth. Abbas Mirakhor, Former Executive Director, International Monetary Fund, US This timely book examines the authorization of Shari ah-compliant intermediaries as either credit institutions or as investment companies in the European Union. The contributing authors explore the key topics of this area through differing yet parallel perspectives for example, comparing economic and legal standpoints, looking at both European and national levels and considering both academic and technical approaches. The book discusses the common origin of Islamic and Western traditions in commercial and banking transactions, reviewing a period in which the Italian merchants and their organizations drove the rebirth of post-medieval society in trade and law. The editors investigate whether the Islamic banking and financial model complies with the European framework, spelling out the different experiences in single Member States (Germany, France, Italy, and the United Kingdom). Notwithstanding the obstacles to being authorized as domestic credit institutions, they conclude that the access of Islamic intermediaries is suitable and may have positive effects on European integration, as well as increasing the competition among the stand-still operators and evoking the ethical dimension of banking and finance. The book also highlights how Islamic banking would make the industry more inclusive. This multidisciplinary book will appeal greatly to economics and legal scholars with an interest in European and international banking and financial law, as well as postgraduate students in international law and banking law. Practitioners and regulators will also find this book an invaluable resource.