Author Archives: Salman Ahmed Shaikh

About Salman Ahmed Shaikh

PhD Economics, National University of Malaysia. Assistant Professor of Economics and Finance. Author, Researcher, Teacher and Consultant. He can be contacted at: salman@siswa.ukm.edu.my

Using Mainstream Asset Pricing Models in Shari’ah Compliant Stocks

Salman Ahmed Shaikh One issue that arises in using asset pricing models developed in mainstream financial economics literature is that can one use these asset pricing models in the security analysis of Islamic equity investments. It must be acknowledged that … Continue reading

Rate this:

Posted in General Issues About Islam | Tagged , , , , , , , , , , , , , , , | Leave a comment

Early Analytical Studies on Consumption in Islamic Framework

Salman Ahmed Shaikh Muslim economists have employed the mainstream economics tools to explicate consumption in the Islamic framework. Kahf (1980) uses indifference curves and budget lines. Ahmed (2002) uses utility framework to incorporate Islamic injunctions in the model assumptions as … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , , , , , , , , | 2 Comments

Methodological Framework for Studying Consumption in Islamic Economics

Salman Ahmed Shaikh There is considerable debate in Islamic economics literature on what shall be the correct response and attitude towards mainstream economics methodology. There are three varied responses among Islamic economists regarding the issue. The first response is to … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Distinction and Compatibility between Islamic and Mainstream Framework

Salman Ahmed Shaikh This article highlights the points of distinction and compatibility between the Islamic and mainstream economics framework. The distinction comes in the decision horizon and the addition of moral filters on the choice set. The difference also appears … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , , , , , , , | Leave a comment

Islamic Texts on Consumption and Spending

Salman Ahmed Shaikh Islam has its own distinct worldview. The theistic concepts of Tawheed, Khilafah and Akhirah govern the Islamic way of life. The concept of Tawheed implies that all living and non-living things are created by Allah. The concept … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , , , , , , , , , , , , , | Leave a comment

Intertemporal Consumption in Islamic Economic Framework

Salman Ahmed Shaikh A typical lifecycle pattern of humans shows that the need to consume basic necessities exists throughout the lifetime, while the capacity to earn incomes is present mostly during the working years of life. In childhood and old-age, … Continue reading

Rate this:

Posted in Articles on Islamic Economics, Articles on Islamic Finance | Tagged , , , , , , , , , , , , | Leave a comment

Leveraging on Private Philanthropy in Pakistan for Establishing Waqf

Salman Ahmed Shaikh Importance of Social Finance in Pakistan The United Nations Development Programme (2016) reveals that multi-dimensional poverty in Pakistan stands at 38.8%. Poor people usually depend on their incomes for consumption expenditure given the lack of other assets … Continue reading

Rate this:

Posted in Articles on Islamic Economics | Tagged , , , , , , , , , , | Leave a comment

Does Faith Constrain Progress and Use of Science

Salman Ahmed Shaikh Does faith require abandoning reason, reflecting on the matter, searching for physical answers and finding physical solutions? As per religion, using material means, experimentally proven knowledge and medication is not problematic. For instance, in psychological disorders and … Continue reading

Rate this:

Posted in General Issues About Islam | Tagged , , , , , , , , , , , , , , | Leave a comment

Non-Contradiction between Faith & Science 

Salman Ahmed Shaikh Qur’an is not a book of science. But, to present its basic message, it focuses our attention on different realities, both within our consciousness and in the outside natural phenomena. Modern science has not found any error … Continue reading

Rate this:

Posted in General Issues About Islam | Tagged , , , , , , , , , , , , | 1 Comment

Is Contribution to Science Only a Western Enterprise

Salman Ahmed Shaikh Ehsan Masood in his book ‘Science and Islam: A History’ writes that Muslim contribution to science is largely forgotten or at least neglected, except by a few diligent specialists[i]. Science is universal and is not just a … Continue reading

Rate this:

Posted in General Issues About Islam | Tagged , , , , , , , , , , , , , , , | 1 Comment