Salman Ahmed Shaikh Equity financing is regarded as more just and closes to Islamic principles than debt based financing. Islam encourages equity financing over debt financing when a person wants to earn […]
Schools of Thoughts in Methodology of Islamic Economics
There are many methodological approaches put forward by esteemed economists in Islamic economics. These approaches include the circular economy approach, moral economy approach, institutional approach, assimilative approach and pure transformative approach.
Prohibition of Interest in the Context of Böhm-Bawerk’s Time Preference Theory of Interest
This paper discusses the theory of interest espoused by Böhm-Bawerk. The author reviews the works of some Muslim economists who think that since time preference is valid in Islam, so is time value of money. In Islamic finance literature, there is largely a consensus that time value of money is not valid, but the time value of commodity is acceptable.
Zakat and Protection of Poor from Inflation
Zakat helps poor to meet their essential needs even in an inflationary environment. Contrarily, higher indirect taxation results in inflation. However, Ushr, which is a form of Zakat would produce results otherwise by helping poor and needy people who are affected the most from inflation.
Roundup of World Zakat Forum 2021
The discussions in the forum emphasized on creating synergy between Zakat and Waqf and integrate both the institutions together in institutional design and delivery as well as in public and social policy in member countries.
Monetarists, Monetary Policy and Morality
The monetary policy until today is conducted without paying any heed to the socioeconomic consequences. Despite the fact that central banks usually have very strong research wings and they are equipped with lots of resources, it is rare to find a study administered by central banks and relating the monetary policy to the socioeconomic indicators except for employment and growth.
Hazards of Institutionalized Charity
When a person is helped by a co-worker, neighbour, friend or any other individual in confidentiality, the ego and self-respect of the receiving individual is not hurt or hurt as much as in receiving such benefits publicly from an institution.
Sustainable Development Goals in Post COVID-19 World Economy
It is important that debt relief and debt concessions are afforded to them so that their fiscal bleeding does not compromise work and progress on SDGs. As focus shifts to growth to regenerate employment for those who lost employment after the emergence of COVID-19, it is pertinent to not lose focus of SDGs.
Need for a New Economic Framework
There is need for an economic framework that brings moderation, responsibility, conservation, dignity of life, empathy, sharing, equitable distribution and justice in society.
IPS, IEP Ink MoU to Bolster Research on Islamic Economics and Finance
IPS signed a Memorandum of Understanding (MoU) on December 27, 2021 with Islamic Economics Project (IEP). MoU will facilitate both organizations to collaborate in holding and promoting joint online and on-ground events, details of which will be covered and reported on the websites of both organizations as well as in Moral Reflections on Economics – a monthly online publication of IEP.
Islamic Economics Project 