Tag Archives: Economic Crisis

Islam and Institution of Interest Based Lending

Danial Pirani In modern times, the institution of interest is regarded as critical for the stability of an economy. Nearly all the economic and financial institutions are, in one way or the other, connected to the interest based transactions. Interest … Continue reading

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Potential of Islamic Finance to Lead New Financial Architecture

Salman Ahmed Shaikh The financial crisis of 2007-2009 and ongoing sovereign debt crisis in Europe has challenged the conventional wisdom. Massive levels of debt and consumption beyond means and speedy financial innovation with lax regulation has put major economies in … Continue reading

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Islamic Economics and Consumer Behavior

Salman Ahmed Shaikh Purpose behind human existence is one the basic questions in philosophy. Centuries ago, pioneer philosophers used to study and discuss ‘why we exist’, but after renaissance in Europe and revolt against Church, social philosophers came to the … Continue reading

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Analysis of Ethical Dimension of the Great Recession (2007-2010)

Salman Ahmed Shaikh The negative effects of ethical emptiness in Capitalism have become more prominent in contemporary economic and financial crises. Lack of an ethical base, unrestrained pursuit of self-interest in production as well as in consumption and interest based … Continue reading

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