Pre-Islamic community conditions can be said in the dark age. While, after the Prophet Muhammad PBUH was sent by Allah SWT to improve and flesh out noble character, then in a revolutionary manner he succeeded in turning the ignorant community into a noble society. The Prophet gave an example and direction of the noble characters, such as being honest in speaking, connecting friendship and performing good to neighbor and giving direction on how to perform a healthy and professional business. This book describes how the Prophet Muhammad PBUH as a true revolutionary with Allah SWT. permission was able to transform a dark age included backward and uncivilized society (jahiliyah) into a civilized society equipped. This book describes the methodology of Islamic economic studies, the pre-Islamic economic conditions, and how the Prophet Muhammad PBUH was able to carry out a peaceful revolution (without bloodshed) from the ignorant society into a civilized society in just 23 years. The Fourth Chapter is a summary of Islamic economic principles which are the economic conception of Muhammad the True Revolutionary. The fifth chapter traces the glory of the Caliphs who follwed Muhammad PBUH in the economic field. The sixth chapter describes the conventional economic defects and modern ignorant in the economic field, especially in Indonesia. The last chapter the author offers a practical step as effort to change the current conditions which are experiencing a crisis due to the application of the ignorant modern economy. The author offers a conception of change towards the universal application of Islamic economics, meaning that it is expected to be accepted by all parties, both Muslims and non-Muslims.
This book describes how the Prophet Muhammad PBUH as a true revolutionary with Allah SWT. permission was able to transform a dark age included backward and uncivilized society (jahiliyah) into a civilized society equipped.
An Ethical Approach to Preventing Future Financial Crises
Can Islamic finance save the global system? Islamic Finance and the New Financial System describeshow the adoption of Islamic finance principles in future regulatorydecisions could help prevent future shocks in the global financialsystem. Using illustrations and examples to highlight key points inrecent history, this book discusses the causes of financial crises,why they are becoming more frequent and increasingly severe, andhow the new financial system will incorporate elements of Islamicfinance – whether deliberately or not. With an introspectivelook at the system and an examination of the misconceptions anddeficiencies in theory vs. practice, readers will learn why Islamicfinance has not been as influential as it should be on the largerglobal system. Solutions to these crises are thoroughly detailed,and the author puts forth a compelling argument about what can beexpected in the future. Despite international intervention and global policy changes,the financial system remains in a fragile state. There is anargument to be made about integrating Islamic finance into the newsystem to facilitate stronger resilience, and this book explainsthe nuts and bolts of the idea while providing the reader with ageneral understanding of Islamic finance. Understand the key principles of Islamic finance Examine the history of the current financial system Discover how Islamic finance can help build a new debt-freeeconomy Learn how Islamic finance theory doesn't always dictatepractice Although Islamic finance is a growing market, it is still aforeign concept to many. Those within the Islamic finance circleswonder why the system has yet to gain broader appeal despite itsability to create a strong and well-balanced economy. IslamicFinance and the New Financial System provides clever analysisand historical background to put the issues into perspective.
For non-experts, the book includes a useful summary and explanation of Islamic financing terminology. For so serious a topic, the book is very readable and manages to convey a sense of optimism for the future.
With global assets expected to reach over a trillion dollars in the next few years, Islamic finance is the fastest-growing segment of the international financial services industry. This introductory guide takes readers on an in-depth tour of this exciting new world of opportunity, with profiles of the many diverse players and projections of Islam's hottest growth markets.
This introductory guide takes readers on an in-depth tour of this exciting new world of opportunity, with profiles of the many diverse players and projections of Islam's hottest growth markets.
Surveys Saudi financial systems, institutions, and policies. Includes an historical and international comparative background and a working knowledge of contemporary processes with insight into financial policy and problems. Offers useful background data on Islamic banking and financial principles in relation to the Saudi system.
This book focuses on Islam-congruent marketing conduct, market processes, mechanisms and structure, both individual and collective marketing practices and activities, marketing institutions and market systems. Islamic marketing is the discipline concerned with excellence in consumption behavior and marketing practices within different markets. The purpose of Islamic marketing is not profit maximisation or revenue generation. Rather, its main purpose is to benefit others while minimising harm.
This book focuses on Islam-congruent marketing conduct, market processes, mechanisms and structure, both individual and collective marketing practices and activities, marketing institutions and market systems.
Of interest to both academics and practitioners who assist in making Shariah-centric strategies, this work is particularly important as Asia holds a major percentage of Islamic assets in South Asia, Southeast Asia, and the Middle East, with new opportunities opening in Central Asia.
Of interest to both academics and practitioners who assist in making Shariah-centric strategies, this work is particularly important as Asia holds a major percentage of Islamic assets in South Asia, Southeast Asia, and the Middle East, with ...
Introduction to Islamic Marketing considers various aspects of Islamic Marketing including an extensive overview of Islamic Marketing and related terms. It includes Introduction of Marketing, Islamic Marketing (Basic Concepts in Islam), the largest integrated approach in the History of Marketing, the psychographics of Muslim consumer, principles of Islamic Marketing. Provides the reader with insights into the development of its history, so as to understand Prophet Muhammad (Peace be Upon Him) as a dealer and monitor, The women and Islamic Marketing, conventional and Islamic Marketing.
Introduction to Islamic Marketing considers various aspects of Islamic Marketing including an extensive overview of Islamic Marketing and related terms.
The Theory and Practice of Profit Sharing Investment
The relatively new sukuk (or Islamic debt securities) markets have grown to more than US $800 billion over the past decade, and continue to grow at a rate of around 20-30 per cent per year. Arguably the first of its kind, this path-breaking book provides a highly unique reference tool relating to key issues surrounding sukuk markets, which are found in 12 major financial centres, including Kuala Lumpur, London and Zurich. The internationally renowned contributors present an in-depth study of sukuk securities, beginning with a comprehensive definition and history. They go on to discuss Islamic financial concepts and practices that govern how sukuk securities are issued, how markets are carefully regulated to protect investors, and how securities are designed to safeguard invested money. The prospects and challenges of developing sukuk Islamic debt markets across the world are also illustrated. This comprehensive guide to sukuk markets will prove a fascinating and useful reference tool for academics, students, researchers and practitioners with an interest in Islamic finance, and, more specifically, in the nascent field of sukuk securities.
marketing. and. listing. of. sukuk. securities. Mohamed. Ariff. and. Shamsher. Mohamad1. 12.1. INTRODUCTION. The first Malaysian sukuk as a new Islamic financial debt security was issued as a private sector issue by Shell Company (M) ...
This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis. Drawing on a range of international perspectives from the Gulf Cooperation Council countries, Malaysia, Pakistan, Australia and Europe, this book explores the characteristics and performance of Islamic finance and banking and discusses future prospects. It offers a comprehensive theoretical framework for Shariah governance in Islamic financial institutions, explores Shariah-compliant equities, as well as issues in productivity, technology and efficiency. It includes a number of comparative studies on Islamic and conventional banks, Islamic and conventional unit trusts, and Islamic and conventional banks’ product mixes. The challenges and opportunities for the expansion of Islamic finance and banking into Europe are explored through the contexts of the UK, Germany and Italy.
This book demonstrates how the global market for Islamic financial services has shown strong growth in recent years and shown remarkable resilience during the global financial crisis.
Islam proposes the replacement of an interest-based financial system with one which operates on the basis of risk and profit sharing. Using a general equilibrium model, this paper investigates some open-economy implications of the adoption of Islamic banking for growth and stabilization of the economy. It analyzes the long-run effects of Islamic banking on international capital flows and on the economy’s capacity to adjust to disturbances. It concludes that monetary policy can be used effectively for stabilization purposes and that disturbances to asset positions are absorbed efficiently in an Islamic financial system.
Using a general equilibrium model, this paper investigates some open-economy implications of the adoption of Islamic banking for growth and stabilization of the economy.
