The main characteristics of an Islamic financial system are described relying on recent writings on the subject and on the actual practice of Islamic banking. A theoretical model of an Islamic economic system is developed by generalizing the standard IS-LM model in order to study the effects of monetary policy on the macro-economic variables of an Islamic economy. Whether the authorities attempt to influence monetary conditions through changing the money supply or use the flow of Mudarabah financing as an intermediate objective, there would be no fundamental change in the way monetary policy affects economic variables. An expansionary monetary policy would reduce rates of return and increase output.
The main characteristics of an Islamic financial system are described relying on recent writings on the subject and on the actual practice of Islamic banking.
Towards a Just Monetary System is the first comprehensive study of the goals, nature and operations of the monetary system of Islam, which has justice as one of its most indispensable objectives.For most people, including some Muslims, an interest-free economy is a mystery. Hence a number of questions are asked. Has Islam really prohibited interest and, if so, what is the purpose behind this? Can an economy run without interest? What will be the impact on resource allocation, savings and capital formation, economic stability and growth? Dr. Chapra takes the mystery out of the subject by answering these and a number of other questions by means of a thorough economic analysis. While he shows the rationale behind the prohibition of interest and the strengths of a purely equity-based Islamic economy, he also indicated the problems and gives a realistic proposal for solving them. Dr. Chapra also elaborates the changes that must be introduced in the nature and operations of commercial and central banks: the auxiliary institutions which must be established, and the new tools of monetary policy that must be developed to enable the Islamic money and banking system to function effectively. He however warns that the abolition of interest is not the only value of Islam and unless it is political institutions of Muslim countries, their economies cannot be transformed and socio-economic justice as well as a whole range of other important goals of Islam cannot be realized. This calls for a gradual transformation, but with a total commitment.The Islamic Foundation is an educational and research organization developed to make Islam a living reality in our age. For this purpose, it aims at improving human communication and developing a better understanding of Islam among all people of the world, Muslim and non-Muslim, so as to galvanize man to the message and ideal of One God and the unity of mankind. As brought by all Prophets of God throughout the ages, last of whom was the Prophet Muhammad (blessings of Allah and peace be upon him). An important aspect of the foundation’s multifarious activities is the publication of literature of Islam.
Towards a Just Monetary System is the first comprehensive study of the goals, nature and operations of the monetary system of Islam, which has justice as one of its most indispensable objectives.For most people, including some Muslims, an ...
Crossways this article, we develop an ambitious research that addresses of emergent global phenomena and raises new questions in entrepreneurship and investigate entrepreneurship in different outlook and other economic context. In order to perceive if and how entrepreneurs matter for economic region characterized over the same link on implemented effect between entrepreneurship, GNI, GDP and unemployment rate. The paper studies the impact of entrepreneurship on economic growth and unemployment. By using a comparison of the level of these measures, the study considers different nations of MENA region for the period 2005-2011. The main intention is to formally evaluate the impact of entrepreneurship on both unemployment rate and economic growth levels. Different econometric specifications and estimation methods will be considered to fully demonstrate by comparables measures how entrepreneurship affects economic growth and unemployment on MENA countries. We therefore try to append the low-level researches focused specially to MENA region with the aim of increasing its quality, coherence, scope, and impact. Such understanding is particularly relevant in countries undergoing challenges transformation to a market economy system.
Crossways this article, we develop an ambitious research that addresses of emergent global phenomena and raises new questions in entrepreneurship and investigate entrepreneurship in different outlook and other economic context.
What is the role of central banks in ensuring financial stability? This paper addresses this controversial subject, in part by drawing on the experiences in Europe, Japan, and the United States, and by examining four questions. What is meant by financial stability? Do central banks have a natural role in ensuring financial stability? What does a central bank need to execute this role effectively? How far have central banks actually gone in safeguarding financial stability? The experience drawn on in the paper suggest that central banks: have a natural role to play; at times may require supervisory information to execute this natural role; and have incurred risks to their balance sheets to ensure financial stability.
What is the role of central banks in ensuring financial stability?
Moral Education and Character Conference Participants 3 I. What Is Moral Education About ? 1 II. Joseph Adelson , Department of Clinical Psychology , University of Michigan Richard Baer , Department of Natural Resources , New York State ...
This paper presents perhaps the most viable approach for the design of an instrument of government finance (and monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of return are forbidden. Resources to finance government infrastructural and development projects can be mobilized by issuing a national participation paper and this instrument can also serve as an instrument of monetary management. The paper discusses various conceptional issues underpinning the introduction of such an instrument and methods of calculating a corresponding rate of return. In principle, this approach has been accepted by the Islamic Republic of Iran.
This paper presents perhaps the most viable approach for the design of an instrument of government finance (and monetary management) in an Islamic economy where conventional transactions based on an ex-ante promise of a risk-free rate of ...
mahasiswa sebagai wirausaha muda Indonesia berpeluang memanfaatkan strategi pemasaran untuk produk-produk kreatif dan inovatifnya.
mahasiswa sebagai wirausaha muda Indonesia berpeluang memanfaatkan strategi pemasaran untuk produk-produk kreatif dan inovatifnya.
This is the eBook version of the printed book. This Element is an excerpt from The Truth About Starting a Business (9780137144501), by Bruce R. Barringer. Available in print and digital formats. A systematic, four-step plan for reducing the risk associated with launching a new business. The proper sequence in planning and launching a business is as follows: 1. Identifying a business idea. 2. Screening and testing the idea to determine its initial feasibility. 3. Writing a business plan. 4. Launching the business. Complete this process to avoid falling into the “everything about my idea is wonderful” trap. All business ideas have strong and weak points....
This is the eBook version of the printed book. This Element is an excerpt from The Truth About Starting a Business (9780137144501), by Bruce R. Barringer. Available in print and digital formats.
Research Paper (undergraduate) from the year 2017 in the subject Business economics - Company formation, Business Plans, grade: N/N, , language: English, abstract: This paper represents a business plan and feasibility study for a chocolate factory outside Riga/Latvia. In its first section the paper depicts product line, organizational principles, supply chain strategies, and marketing strategy. In its second section it bases the enterprise on analysis of market and business environment in Latvia. It can be shown that the project falls in line with both economical developments and national and EU policies favoring foreign investment. The paper assumes a fictional but realistic mother firm in the UK to expand to the national market of Latvia in this way. The business plan comprises a description of products, a marketing strategy, a depiction of organization, basic corporate strategies and envisaged supply network, and a schedule for implementation. The feasibility study provides market and conditions analysis and financial rationale.
Research Paper (undergraduate) from the year 2017 in the subject Business economics - Company formation, Business Plans, grade: N/N, , language: English, abstract: This paper represents a business plan and feasibility study for a chocolate ...
