In this paper, the author explains that the origin of current environmental crisis can be traced back to industrial revolution. While industrialization provided many benefits, the greed and avarice in human beings need conditioning through morality and values.
This research study calculates potential Zakat proceeds collectible in Bangladesh by using both classical and contemporary or alternative Zakat calculation methods. The results reveal that the percentage of potential Zakat collectible amount to GDP is significant as the estimates range between 2.3% to as much as 3.8%.
International Islamic University of Malaysia (IIUM) was established according to the visions developed by prominent Islamic scholars Ismail al-Faruqi (Co-founder of the International Institute of Islamic Thought in Virginia [IIIT]), Abdul Hamid Abu Sulayman (Current Chairman of IIIT), and Syed Muhammad Naqib al-Attas (Founder of the International Institute of Islamic Thought & Civilization [ISTAC]), with the aim of linking what they call ‘revelation and heritage’ with social and human sciences.
One of the goals of Iqbal’s poetry and writing is to instil a sense of hope that was lost in the Muslims at that time and even today. He says: ‘your origin is light and you are pure, you are the brightness of the eyes of the stars, the angles, and the spirits are under your command. You are the falcon of the king of the world Prophet Muhammad (PBUH)’.
He was among the pioneer scholars in the contemporary field of Islamic economics and finance. He was the recipient of King Faisal International Prize for Islamic Studies in 1982. He also won American Finance House Award in 1993. Furthermore, he received Shah Waliullah Award in New Delhi for contributions to Islamic Economics in 2003.
This paper discusses that the socio-economic aspect of Waqf is much less focused upon in research studies. More focus is on jurisprudential and legalistic studies. While they are important, it is also vital to discuss and pay attention to socio-economic aspects of Waqf in Waqf economics.
This paper discusses the issue of risk vis-à-vis the perpetuity restriction principle inherent in Waqf (Islamic endowment). The authors contend that as a result of Ijtihad, particularly Istihsan bi-al-urf (juristic preference on the basis of custom), endowing cash as Waqf is now accepted in the Muslim world.
Salman Ahmed Shaikh Equity financing is regarded as more just and closes to Islamic principles than debt based financing. Islam encourages equity financing over debt financing when a person wants to earn […]
There are many methodological approaches put forward by esteemed economists in Islamic economics. These approaches include the circular economy approach, moral economy approach, institutional approach, assimilative approach and pure transformative approach.
This paper discusses the theory of interest espoused by Böhm-Bawerk. The author reviews the works of some Muslim economists who think that since time preference is valid in Islam, so is time value of money. In Islamic finance literature, there is largely a consensus that time value of money is not valid, but the time value of commodity is acceptable.
Islamic Economics Project 