Objective: Need for the new economic model has been realized at the international level, as numerous and significant flaws have appeared in both two systems capitalism and socialism, which are becoming a great cause for economic crises in almost every economy of the word, in this regard, this study has been carried out on the redefining Islamic economics as a new model, that how it can take out those problems and flaws which has appeared in both structure. Methodology: Islamic economic system doesn't emphasize only on the economic variables it also considers the social variables which have been neglected by both previously and currently practicing systems (socialism and capitalism).current study is a comparative analysis of all said systems. Findings: It has been also observed that in spite of having great strength to winkle out all the economic problems, without interest how we are able to get the profit and what different types of new loan system that is RIBA free and helpful for getting a good profit. Practical Implication: In Islamic economic system the private property is being debated. Government or state should be involved in the only condition if the market is failed to provide public good and education.
Objective: Need for the new economic model has been realized at the international level, as numerous and significant flaws have appeared in both two systems capitalism and socialism, which are becoming a great cause for economic crises in ...
This book offers a unique, in-depth, and up-to-date overview of Islamic banking and finance, capital markets, and sukuks at the grassroots level. It deals with one of the most potent and increasingly popular financial instruments. It defines and explores the differences between conventional and Sukuk bonds and also examines the integration of Sukuk in various country contexts and both Muslim and non-Muslim economies. The book consists of five core topics. First, it describes the evolution of the Islamic finance industry and capital markets; second, it discusses the basic features and instruments of Islamic banking; and third, it illustrates the current state of capital markets and Islamic finance. The book then examines the development of Sukuk in Islamic capital markets and Shariah perspectives and, finally, briefly discusses the structure of Sukuks and its development in the context of Pakistan. In a nutshell, this book provides a basic understanding of Islamic financial instruments, their implementation in different regions, and their points of differentiation from conventional modes of finance; therefore, it will be a useful addition to the literature for scholars, researchers, and students of Islamic banking and finance.
