Hopes for the Future of Islamic Finance Introduction I am grateful to Allah SWT, to brother Muazzam Ali and to organizers of this Conference: the Institute of Islamic Banking and Insurance and the Islamic Development Bank for the opportunity of being here tonight. I am especially pleased to see our […]
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Shariah Requirements for conventional banks By Sheikh Nizam Yaquby Shariah Scholar Bahrain Many conventional banks and financial institutions are increasingly becoming interested in Islamic finance and investment. How can these conventional banks and institutions enter this market? Is it possible or not? This paper is an initial attempt to lay […]
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The adverse effects of interest on society By Justice Muhammad Taqi Usmani Justice of the Supreme Court of Pakistan The Nature of money and the effects of interest charged by banks and whether it comes within the purview of injustice, are some of the issues discussed by Justice Taqi Usmani, […]
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The Role of Central Banks in Islamic Banking Dr. Iraj Toutounchian Prof. C. G. Harcourt: “…ideologies…affect the topics discussed, the manner of discussion, the factors included or left out or inadequately stressed in arguments, comments, and models and attitudes shown, sympathetic or hostile,…to past and contemporary economists’ works and views. […]
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Islamic Investment Products Available In The United Kingdom By Professor Rodney Wilson, University of Durham, United Kingdom Introduction London has become the largest international centre for Islamic finance outside the Muslim World, largely as a result of the City’s role as a centre for Middle Eastern and Asian banking. Treasury […]
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Characteristics of Islamic Management Principles of Islamic Management: 1. Honesty 2. Efficiency 3. Patriotism 4. Right man in the right place 5. Discipline 6. Division of labor 7. Unity of command and unity of direction 8. Centralization and decentralization 9. Preference to the organizational interest 10. Remuneration 11. Economy […]
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Monetary Policy in an Islamic Framework For compulsory transfer payments as well as optional charities, from the relatively better-off people in the economy to the relatively worse-off population. This is done through the institutions of Zakah, Fitrah etc. In addition, optional payments are so encouraged and emphasized that even if […]
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Fiscal Policy in Islam Fiscal Policy in Islam Fiscal policy refers to the way in which the government exerts influence on the economy through its overall budgetary decisions. Budgetary actions that raise the growth of government expenditures, reduce the growth of revenues and either increase the deficit or reduce the […]
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Economic Planning in Islam Meaning of Economic Planning in Islam: Economic planning in Islam seems to provide a realizable synthesis of planning by inducement and planning by direction. Various Injunctions of Holy and Sunnah have confirmed this, although no evidence has been found to indicate any systematic treatment of the subject, […]
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Islamic Banking Deposit Products Islamic Banking Deposit Products: Islamic banks receive deposits under two principles: i) Al-Wadeeah principle. ii) Mudaraba principle. Al-Wadeeah: The fund which is deposited with Banks by the depositors with clear permission to utilize/invest the same is called Al-Wadeeah. Islamic banks receive deposits in Current Accounts on […]
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