Islamic Finance News- AUSTRALIA: Dr Pasquale Franzese joins IFN as correspondent for Australia
- BANGLADESH: Northern General Insurance Company secures approval for name change
- UAE: Fitch affirms Ras Al Khaimah’s long-term foreign currency issuer default rating at ‘A’ with a stable outlook
- QATAR: Qatar Financial Centre joins World Alliance of International Financial Centers
- UK: Qatar’s Al Rayan Bank under scrutiny over links to terror, extremist groups and money laundering
- AFGHANISTAN: Syed Musa Kaleem Al-Falahi joins Islamic Bank of Afghanistan as new CEO
- BAHRAIN: Bahrain Islamic Bank still waiting for formal takeover offer from National Bank of Bahrain
- UAE: ENBD REIT purchases 100,000 of own shares
- SAUDI ARABIA: Mediterranean and Gulf Cooperative Insurance and Reinsurance Company wins legal case against former CEO
- BANGLADESH: LR Global Bangladesh Asset Management Company extends tenor of AIBL 1st Islamic Mutual Fund
Tag Archives: Intertemporal Consumption
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
2 Comments
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
Leave a comment
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
