RESEARCH ON ISLAMIC ECONOMICS AND FINANCE AND ROLE OF FAITH IN MARKETS AND SOCIETY IN POST MODERN SCIENTIFIC AGE
In 763, The House of Wisdom was founded in Baghdad. For every translated book, the state used to pay quantity of gold equal to the weight of the book so as to provide state patronage and incentives.
As far as understanding the properties of matter is concerned with the objective of making our lives useful, religion does not oppose science at all. There is no inherent conflict between science and religion if the scope of both science and faith are duly understood and acknowledged. Islamic worldview does not oppose the use of various tools for obtaining useful knowledge and then using that knowledge for material ends both at an individual and at the societal level.
Our outlook to the universe will be different based on the meaning we attach to our relationship with the universe. From Physics perspective, extinction is merely a rearrangement of atoms, even if it happens to millions of humans via nuclear weapons.
It is pertinent to ask what Stephen Hawking also finds perplexing: “We find ourselves in a bewildering world. We want to make sense of what we see around us and to ask: What is the nature of the universe? What is our place in it and where did it and we come from? Why is it the way it is?”
Financial inclusion of the poor requires a different approach in product design, pricing and delivery. This requires innovation, flexibility, efficiency and committed leadership. Fintech can be a key catalyst in increasing the penetration and outreach of Islamic banking in Muslim majority countries.
Stephen Hawking has recently died after living a difficult life physically, but one which was highly productive in terms of intellectual journey and contributions. While acknowledging the tremendous value of the contribution of Stephen Hawking in Cosmological Physics, an attempt is made to clarify the limitations of science in exploring the meaning of life.
Sukuk issuance needs to be used in providing finance for diverse needs. Corporate issuances follow the trends in business cycles. Sovereign Sukuk for development finance can provide impetus to the Sukuk issuance in cyclical downturns. In addition to that, it can also provide long-term macroeconomic support to the governments and enterprises by building the infrastructure for tomorrow.
A great number of empirical studies now challenge the position of conceptualising human behaviour only in the framework of a rational, utility-maximizing homo-economicus. Yet, this framework is used for the purpose of simplicity and tractability in situations where abstraction does not result in major loss of focus and information at hand.
Salman Ahmed Shaikh Some of the non-Muslim contemporaries of Prophet Muhammad (PBUH) used to tease Him (PBUH) during His life. Qur’an mentions that people who did not believe in Prophet Muhammad (PBUH) […]
In early 2015, Muslims took to twitter to introduce our beloved Prophet Muhammad (PBUH) to the world. Below are some of the tweets.
Islamic Economics Project 