There is need for an economic framework that brings moderation, responsibility, conservation, dignity of life, empathy, sharing, equitable distribution and justice in society.
Need for a New Economic Framework
Using Rental Index in Fixed Assets Finance
In lease based contracts, such as Ijarah and Diminishing Musharakah, the rental indices can capture the true essence of pricing as per the nature of transaction.
مرکزی بینک کی خودمختاری: موجود مواقف کا تجزیہ
اس مختصر مضمون میں ایک آزاد مرکزی بینک کے حق میں اور خلاف میں دلائل پیش کرنے کی کوشش کی گئی ہے تاکہ لوگ اس مسئلے کے بارے میں باخبر رائے قائم کر سکیں۔
Output Price Index as a Pricing Alternative in Islamic Finance
Repo transactions are not compliant with Islamic principles due to the buyback nature of transaction plus the use of interest based securities as underlying assets. However, in commercial contracts where Islamic banks would like to earn return, there is need for a pricing benchmark to mitigate risk as well as ensure transparency in the contract.
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.
Spiritual Reflections from Rumi
Prepare to Meet the One, the Only One We will return to the One, to the Only One. Every moment, we come close to death and to meet the One, the Only […]
Marx, Labor Rights and Reform in Capitalism
Ever since the critique of Marx on capitalism, a lot of reforms have taken place in the practice of capitalism. These measures include i) fixing working hours, 2) avoiding discriminatory practices, 3) […]
Serving Needs through Markets
If an economy has 10 million people, then should the food be produced and distributed to the markets for all 10 million people? Most people would answer yes. It is because food […]
History of Islamic Banking in Pakistan
Islamic banking is growing very fast, especially after the global financial crisis in 2008. There is need for more awareness and regulatory support to promote Islamic banking so as to comply with constitution of Pakistan, which clearly urged for eliminating Riba as soon as possible.
Risk Sharing versus Risk Shifting in Islamic Banks
This paper aims to see which modes of financing are majorly employed by Islamic banks while providing finance to the clients. The empirical analysis shows that by and large Islamic banks use risk-shifting contracts. The use of risk-sharing based contracts is quite minimal.
Islamic Economics Project 