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 ...
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 ...
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 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.
Bitcoin- the world's biggest internet scam, or the biggest breakthrough since the printing press? Halal or haram? This book is a journey through the social, economic, and political implications of cryptocurrency from a Muslim perspective, crafting a vision of the potential of the internet to help restore the unity and strength of the Muslim ummah. Weaving together ecological and post-colonial perspectives with classical Islamic sources, this book offers a unique perspective on the nature of money and the ways in which it silently but powerfully shapes our lives. While many have come to accept the dominant monetary regime as an inevitable fact of life, new horizons of possibilities are opening with the advent of technologies like big data, crowdfunding, cryptocurrency, and smart contracts. Focusing on the ethical and spiritual precepts at the root of this wave of technological innovation, the author sketches a vision of an economic union that transcends national boundaries. A must-read for anyone who is interested in the moral dimension of cryptocurrency, and how Muslims, both individually and collectively, can best navigate the transformation underway.
This book is a journey through the social, economic, and political implications of cryptocurrency from a Muslim perspective, crafting a vision of the potential of the internet to help restore the unity and strength of the Muslim ummah.
Offers an analysis of the political process involved in the reform of the pension systems in European countries.
Offers an analysis of the political process involved in the reform of the pension systems in European countries.
