The paper discusses the design of an efficient and optimal corporate governance structure of a firm within Islamic economic system. The objective of this paper is to identify factors, which will influence corporate governance within an Islamic economic system and to examine if corporate governance model will be 'shareholder'- or 'stakeholder'- centered? The paper argues that the governance model in Islamic economic system is a stakeholder-oriented model where governance structure and process at system and firm level protect rights of stakeholders who are exposed to any risk as a result of firm's activities. Whereas conventional system is struggling with finding convincing arguments to justify stakeholders' participation in governance, the foundation of a stakeholder model is found in Islam's principles of property rights, commitment to explicit and implicit contractual agreements and implementation of an effective incentive system. The paper also discusses the implication of a stakeholder model on depositors, Islamic financial institutions, and regulators.
The paper argues that the governance model in Islamic economic system is a stakeholder-oriented model where governance structure and process at system and firm level protect rights of stakeholders who are exposed to any risk as a result of ...
Islamic Capitalism is a new alternative comprehensive economic system. Based on new ideas and views, Islamic Capitalism introduces modern applicable solutions to present financial hardships, problems, and crisis. Islamic Capitalism presents new Financing and Banking systems, Welfare and Taxing systems, Public Finance system, Domestic Monetary system, and International Monetary system. Taking into consideration the recent economic environment that is characterized by speculative mania and rapid increase in quantity of credit and money, new approach has been taken to identify economic problems and to understand the Qur'anic verses. Islamic Capitalism translates continuous efforts of several years of researches and studies in addition to long practical experience in banking and finance. Islamic Capitalism converts theoretical dreams into modern applicable systems introduced in a small book written in as simple as possible language.
Islamic Capitalism is a new alternative comprehensive economic system. Based on new ideas and views, Islamic Capitalism introduces modern applicable solutions to present financial hardships, problems, and crisis.
Khan and Mirakhor have imposed on their model a structure and constraints which lend a tautological character to their exercise (13). The indiscreet replacement of the rate of interest in the secular model by a profit rate makes their conclusions tentative and questionable. Formulation infirmities have further weakened their position. Still, their work is laudable for it opens up some new areas of investigation in Islamic banking.
The Economic System of Islam, is an English version of a lecture delivered in Urdu by Hazrat Mirza Bashir-ud-Din Mahmud Ahmad, the Second Khalifah Head of the Ahmadiyya Muslim Community to a gathering of academia in Lahore, Pakistan, in 1945. The book presents a detailed account of the teachings of Islam regarding the system of economics. It demonstrates that economic system of Islam is placed within the broader teachings of Islam, with the objective of attaining the pleasure of Allah and everlasting bliss in the Hereafter. It provides for a healthy and progressive society in which the basic needs of all are met, and incentives for achieving excellence are provided, with due regard to justice and fair play. The lecture then makes a critical evaluation of the economic aspects of Communism. It provides ample evidence that Communism has failed in its pretensions of promoting justice and equality both within its own borders and in international affairs. It brings out serious objections against Communism from a religious point of view, and cites three prophecies about the decline of Communism.
The book discusses the Suk?k market, its developments, and the legal, Shar?‘ah, risks, and rating issues facing Suk?k. Securitisation as the best way forward for Suk?k structuring is emphasized and issues such as Suk?k listing, Suk?k index and Suk?k fund are highlighted.
The Sukūk assets represent an investment for 20 years, in the specified rights and obligations of SABIC under certain marketing agreements that underpin the marketing services that SABIC provides to its many subsidiary companies.
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) ...
The Principles of Islamic Marketing fills a gap in international business literature covering the aspects and values of Islamic business thought. It provides a framework and practical perspectives for understanding and implementing the Islamic marketing code of conduct. It is not a religious book. The Islamic Economic System is a business model adopted by nearly one fifth of the world's population. Baker Alserhan identifies the features of the Islamic structure of International Marketing practices and ethics. Adherence to such ethical practices elevates the standards of behaviour of traders and consumers alike and creates a value-loaded framework for firms, establishing harmony and meaningful cooperation between international marketers and their Muslim target markets. His book provides a complete guide to the requirements an organization needs to follow when managing its entire marketing function within the Muslim market or when adapting part of its offering to that market. It addresses the challenges facing marketers involved in business activities with and within Islamic communities, the knowledge needs of academic institutions, and the interest of multinationals keen on tapping the huge Islamic markets. Along the way, Baker Alserhan provides insights into the various aspects of promoting to the Islamic markets such as franchising, distribution channels, and retailing practices, branding, positioning, and pricing issues; all within the Muslim legal and cultural norms. Above all, The Principles of Islamic Marketing will lay the foundation of, and advance, Islamic Marketing as a new social science.
The Principles of Islamic Marketing fills a gap in international business literature covering the aspects and values of Islamic business thought. It provides a framework and practical perspectives for understanding and implementing the Islamic marketing code of conduct. It is not a religious book. The Islamic Economic System is a business model adopted by nearly one fifth of the world's population. Baker Alserhan identifies the features of the Islamic structure of International Marketing practices and ethics. Adherence to such ethical practices elevates the standards of behaviour of traders and consumers alike and creates a value-loaded framework for firms, establishing harmony and meaningful cooperation between international marketers and their Muslim target markets. His book provides a complete guide to the requirements an organization needs to follow when managing its entire marketing function within the Muslim market or when adapting part of its offering to that market. It addresses the challenges facing marketers involved in business activities with and within Islamic communities, the knowledge needs of academic institutions, and the interest of multinationals keen on tapping the huge Islamic markets. Along the way, Baker Alserhan provides insights into the various aspects of promoting to the Islamic markets such as franchising, distribution channels, and retailing practices, branding, positioning, and pricing issues; all within the Muslim legal and cultural norms. Above all, The Principles of Islamic Marketing will lay the foundation of, and advance, Islamic Marketing as a new social science.
Moreover, Islamic businesses have concentrated on one aspect of the conventional marketing mix: the product. These businesses kept on developing and introducing new products under the Islamic banner and somehow forgot, or came to the ...
Contemporary workplaces are subject to numerous challenges due to the absolute technological takeover of real-time working platforms. Though significant developments to the modern workforce have changed the face of industry significantly, there is a thirst for workplaces where people may achieve material objectives while attaining spiritual satisfaction through their daily activities both at the office and home. Principles of Islamic Ethics for Contemporary Workplaces is an essential reference source that discusses organizational behaviors in relation to Islamic values, beliefs, and work ethics, as well as managerial strategies that follow the Islamic way of life. Featuring research on topics such as contemporary business, diverse workforce, and organizational behavior, this book is ideally designed for managers, business professionals, administrators, HR personnel, academicians, researchers, and students.
The implications of these categories on the marketing aspect of business are very thorough and encompass the entire marketing mix for both services and goods. The first component of the conventional marketing mix, the product.
