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Modelling Interest-free Economy

A Study in Macroeconomics and Development

General equilibrium macroeconomic models are considered essential for evaluating the impact of monetary and fiscal policies in an economy. This aspect has not received, until now, significant attention. This present work, by Dr. Muhammad Anwar, develops general equilibrium models of income determination suitable for interest-free economies. It can be used to understand several implications of making a transition from the conventional financial system to an interest-free financial system. There are numerous Muslim countries seeking to adopt the new interest-free system. These countries may find it useful to utilize the insights gained from such study to facilitate the establishment of an Islamic interest-free financial system. The economic model offered in this book also shows clearly and scientifically that if the interest-based financial system is replaced by the interest-free financial system, then the real rates of return for savers and investors in the economy will be preserved during inflationary and deflationary periods. On the other hand, financial repression results when savers are badly hurt during inflationary periods in an interest-bearing economy. This study demonstrates that the inflation-ridden developing countries would be definably better off if they adopt the interest-free financial system in place of the prevalent interest-bearing system. This pioneering work is a new addition to the library of Islamic Economics and an important aid to economic planners and students of Islamic Economics.

This aspect has not received, until now, significant attention. This present work, by Dr. Muhammad Anwar, develops general equilibrium models of income determination suitable for interest-free economies.

American Journal of Islamic Social Sciences 9:1

The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

at the communicator and/or audience end of the communications transactions." Nevertheless, Pakistan's recent legislative adoption of the Shari'ah (Islamic law) into its legal system seems to make the need for conducting such research ...

Contribution of Islamic Thought to Modern Economics

Proceedings of the Economics Seminar Held Jointly by Al Azhar University and the International Institute of Islamic Thought, Cairo, 1988/1409

Muslim countries are facing serious problems in managing their economic life. Their inherited colonial ways of achieving economic aims are in basic contradiction to certain aspects of Islamic values and intended economic goals. Thus, it is imperative for Muslim countries endeavoring to escape underdevelopment and social injustice to turn to Islamic teaching and the Islamic way of harnessing human potentials to improve economic conditions and ascertain the necessary requirement for effective economic development.Islamic economics, as developed by Muslim jurists and social scientists (fuqaha'), needs to be recast in modern terms and developed further to deal with complex realities of the modern society. This book is one step on the long march to Islamizing the science of economics. It contains a selection of papers from the proceedings of the economic conference held in Cairo in 1988. These papers are a valuable contribution to the cause of modernizing Islamic economics.

This book is one step on the long march to Islamizing the science of economics. It contains a selection of papers from the proceedings of the economic conference held in Cairo in 1988.

American Journal of Islamic Social Sciences 14:2

The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

QK 2114 Microeconomics B:0/20(M/C) ECON 2310/ Intermediate Macroeconomics I/ 2/6 1/7 1.3/11 0/6 33.33 14.29 11.82 0. Qk 2124 Macroeconomics ECON 2111/ Intermediate Microeconomics Il/ A:0/20- 3.3/6 A:0/20(T/F) ---.

Islamic Business Ethics

This book addresses Muslim business community members who have to deal with ethical situations on a day-to-day basis. It gives key principles of management from an Islamic point of view. Its goal is to help Muslims engaged in business to act in accordance with the Islamic system of ethics. The writer’s experience with different Islamic activities give him a practical background that supports and enlightens his academic knowledge in the vital fields of business management and administration.

This danger can be easily seen in the microeconomics approach to business ethics that dominates much of Western business's bottom-line thinking. Microeconomics emphasizes the rule of pareto optimality. This rule stresses the efficient ...

American Journal of Islamic Social Sciences 3:2

The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

This re-thinking is necessitated by the fact that ethical transformations fundamentally occur at the microeconomic level. The aggregation of ethically oriented activities occuring at the micro-economic level is the logical passage ...

American Journal of Islamic Social Sciences 5:2

The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

Harold Lasswell, a political scientist, defines communication simply as: A convenient way to describe the act of communication is to answer the following question: Who, says what, in which channel, to whom, with what effect?

American Journal of Islamic Social Sciences 22:1

The American Journal of Islamic Social Sciences (AJISS) is an interdisciplinary journal that publishes a wide variety of scholarly research on all facets of Islam and the Muslim world: anthropology, economics, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam. Submissions are subject to a blind peer review process.

That is the standard, but not exclusive, way in which God interacts with messengers. Even though some exegetes and historians see the possibility of noise here, we have proven otherwise. All divine–human communications have positive ...

American Journal of Islamic Social Sciences 11:1

The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

Order Number DA9335218 Islam, as a religious ideology, has its media channel and its media center that contain a communication model. The media channel is prayer, and the media center is the mosque. The primary purpose of this study is ...

American Journal of Islamic Social Sciences 31:2

The American Journal of Islamic Social Sciences (AJISS), established in 1984, is a quarterly, double blind peer-reviewed and interdisciplinary journal, published by the International Institute of Islamic Thought (IIIT), and distributed worldwide. The journal showcases a wide variety of scholarly research on all facets of Islam and the Muslim world including subjects such as anthropology, history, philosophy and metaphysics, politics, psychology, religious law, and traditional Islam.

Figure 1: Steps in Communication AXIOM II 1. Each act of communication is separate and discrete and can be studied as such. 2. Communication is linear, in the sense that a message travels one way from a source to a receiver. 3.