Islamic Finance News- IRAN: Iran’s Comprehensive Islamic Banking Bill falls short with bankers, says local media
- MALAYSIA: PETRONAS partners with CIMB Islamic Bank and CIMB Bank to offer SME financing
- SAUDI ARABIA: Chubb Arabia to provide multiple insurance coverage to Al Khair Industries Company
- SAUDI ARABIA: Saudi Enaya Cooperative Insurance Company to reduce capital by 50%
- SAUDI ARABIA: Al-Jazeera Cooperative Takaful Company and Solidarity and Solidarity Saudi Arabia Takaful Company explore merger
- UAE: Emirates NBD awarded LEED Gold certification
- SUDAN: Dr Ali Khaled Al-Fawil joins Khartoum Stock Exchange as general manager
- IRAN: Central Bank of Iran completes first open market operation transaction
- INDONESIA: Indonesia’s National Islamic Finance Committee to undergo changes including rebranding and likely structural reorganization
- SAUDI ARABIA: Capital Market Authority authorizes Mulkia-Gulf Real Estate REIT Fund to issue new units
Category Archives: Articles on Islamic Economics
Issues in the Implementation of Ushr in Pakistan
Syed Hassaan Ali Ushr is the financial obligation levied at the rate of 10% on agricultural output in Islam. There are several hurdles and issues which are hampering its successful implementation in Pakistan. This article attempts to discuss those issues … Continue reading
Posted in Articles on Islamic Economics
Tagged Agricultural Income Taxation, Agriculture Sector, Developing Countries, Development, Direct Taxes, Fiscal Policy, Islam, Islamic Economics, Khums, Pakistan, Pakistan Economy, Poverty Alleviation, Public Economics, Tax Evasion, Tax Policy, Ushr, Zakat
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Significance of Recycling for Environmental Sustainability
Dr. Dalia Shebl Said Associate Professor in Architecture & Urban Department, Faculty of Engineering – Kafr Elshiekh University The recycling process has become a core and essential element of sustainable development. Nonetheless, economic analysis of recycling relegates environmental concerns to … Continue reading
Islamic View on Scarcity of Resources
Maher Kababji Socialists claim that economic problems arise from the extraction of surplus value by the Capitalists in the production process. On the other hand, Capitalists urge that scarcity of resources is the basic economic problem which restricts output growth … Continue reading
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
Posted in Articles on Islamic Economics
Tagged Asset Pricing, Capital Asset Pricing Model, CAPM, Ethical Investments, Fundamental Analysis, Halal Stocks, Islamic Asset Pricing Model, Islamic Capital Markets, Islamic Investments, Islamic Stocks, Mean Variance Analysis, Portfolio Management, Risk and Return, Security Analysis, Shariah Compliant Stocks, Zero CAPM
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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
Posted in Articles on Islamic Economics
Tagged Consumer Preferences, Consumption, Homo Economicus, Homo Islamicus, Intertemporal Consumption, Islamic Economics, Keynesian Consumption Function, Methodology of Islamic Economics, Microfoundations, Moderate Consumption, Normative Economics, Positive Economics, Pro-Social Behaviour, Utility Maximization, Zakat
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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
Posted in Articles on Islamic Economics
Tagged Behavioural Economics, Consumer Behaviour, Consumption, Consumption Externalities, Demand Behaviour, Ethical Consumption, Intertemporal Consumption, Islamic Economics, Islamic Economics Theory, Market Economy, Market Equilibrium, Methodology of Islamic Economics, Microfoundations, Neoclassical Economics, Normative Economics, Positive Economics, Relational Preferences, Utility Maximization
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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
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
Posted in Articles on Islamic Economics
Tagged Altruism, Consumerism, Consumption, Consumption Externalities, Ethics, Excess Consumption, Halal Consumption, Halal Markets, Homo Economicus, Infaq, Islamic Charities, Islamic Economics, Moderate Consumption, Pro-Social Behaviour, Responsible Consumption, Sadqa, Selfish Preferences, Values, Waqf, Zakat
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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
Leveraging on Private Philanthropy in Pakistan for Establishing Waqf
Salman Ahmed Shaikh Importance of Social Finance in Pakistan The United Nations Development Programme in 2016 revealed 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 … Continue reading
