Islamic Economics Project

Financing is crucial for achieving the Sustainable Development Goals (SDGs) because it enables countries to invest in the infrastructure, programs, and services necessary to achieve the goals. Without sufficient financing, countries may struggle to make progress towards the SDGs. The United Nations estimates that achieving the SDGs will require an additional $2.5 trillion in annual investment until 2030. Due to misaligned incentives, both public and private actors still invest in brown activities and have not yet fully aligned their decision-making and financing with the SDGs.

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Inclusive in Deposits, Exclusive in Credits

By hammadiep on July 15, 2024 • ( Leave a comment )

It is also important to build trust with the customers and improve the complaint resolution system. Currently, Bank Mohtasib requires that customer should approach bank and wait for 45 days unless bank provides a letter to decline the complaint. The wait is too long, especially for micro-entrepreneurs and SMEs who do not have enough working capital if their incoming remittance is stuck for some reason.

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مذہبی شدت پسندی اور دعوت دین

By Islamic Economics Project on July 14, 2024 • ( Leave a comment )

تمام انسان ہمارے مدعو ہیں اور بحیثیت امت وسط ہماری ذمہ داری تھی کہ ان تک اسلام کاپیغام اپنے علم و عمل سے پہنچائیں۔ مگر ہمارے متشدد علم جو مذہب کی غلط تفہیم سے عبارت ہے اور حیوانی رویے جس کی زد سے اب مسلمان بھی محفوظ نہیں, دین کی دعوت کی راہ میں سب سے بڑی رکاوٹ ہیں۔ دین کی اساس ایک خدا کے سامنے اپنے اعمال کی جواب دہی اور آخرت میں جزا کا تصور ہے۔

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Zakat as an Instrument of Poverty Reduction in Indonesia

By hammadiep on June 12, 2024 • ( Leave a comment )

Authors argue that theoretically, Zakat can promote the higher objectives of a country’s economy. The imposition of Zakat on the assets and business of Muzakki provided the conditions of the haul and nisab have been met encourages the productivity of Muzakki. It urges them to be productive and prudent in their investments. It triggers an increase in labour supply and investments. Zakat transfer leads to higher consumption and spending which is good for the businesses and economy.

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Highlights of Human Development Report 2023/2024

By hammadiep on June 11, 2024 • ( Leave a comment )

The HDI is an important, if crude, yardstick for human development. Just a few years ago well-being had never been higher, poverty never lower. Yet people around the world were reporting high levels of sadness, stress, and worry. Those self-reported measures have since risen for nearly 3 billion people. And while 9 in 10 people show unwavering support for the ideal of democracy, there has been an increase in those supporting leaders who may undermine it: today, for the first time, more than half the global population supports such leaders.

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Bitcoin and Digital Currencies

By hammadiep on June 10, 2024 • ( Leave a comment )

Many experts still think that digital currency is just a fictitious thing and its title is just for show like ivory and in reality, it is a form of betting and profit- hunting trading like we see on the internet, such as forex trading etc. In fact, there is no genuine seller in trading nor are there any Shariah conditions fulfilled for the justification of sale.

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Environmental Teachings in Islam

By hammadiep on May 15, 2024 • ( Leave a comment )

Climate change and environmental degradation is a slow and cumulative process. To protect environment, the efforts also need to be cumulative and consistent. A self-centric secular worldview encourages the self-centric use of private property resources. However, even small things done collectively and consistently can have a larger effect. The two-worldly view of life in Islam encourages socially responsible behaviour as one of the prime determinants of salvage in the life hereafter. Prophet Muhammad (PBUH) said: “If the Resurrection were established upon one of you while he has in his hand a sapling, then let him plant it.” (Musnad Ahmad, Hadith No. 12491).

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Sustaining Value-Based Intermediation Initiative via Cash Waqf Models

By hammadiep on May 14, 2024 • ( Leave a comment )

This study provides insights to the stakeholders of a Cash Waqf infrastructure to continue strengthening their role by understanding the embedded physical and spiritual values and benefits of their acts. It is pertinent for regulators to further encourage VBI among Islamic financial institutions, towards attaining the pure philosophical foundations of Islamic banking and finance; i.e., the principles of socio-economic justice and brotherhood.

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Highlights of Global Waste Management Outlook 2024

By hammadiep on May 13, 2024 • ( Leave a comment )

This report is intended to be a guide for policymakers, governments, industry, and international organizations, providing knowledge, insights, and actionable steps that can be taken toward a less wasteful world. It does not offer a blueprint nor a single route to the goal, since every country will have its own contextual, socioeconomic, and cultural preferences and priorities.

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Mapping Issues in Labor Economics: An Islamic Perspective for Research and Policy Development

By hammadiep on April 21, 2024 • ( Leave a comment )

We are living in a capitalist society where wealth is circulated mostly among the rich. This creates systematic inequality and this issue continues to further exacerbate the hardships faced by the workers. There are various studies on Islamic banking and finance, but the labour side of Islamic economics is not much focused upon and the number of research studies are limited. The purpose of this study as explained by the author is to explore the progress made in labor economics from an Islamic perspective, especially in advancing policies that can improve the well-being of workers.

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