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Topic: Islamic economics

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	EH.Net Encyclopedia: Islamic Economics: What It Is and How It Developed
		Their insight into some economic concepts was so deep that a number of the theories propounded by them could undoubtedly be considered the forerunners of some more sophisticated modern formulations of these theories.
		Since debasement of currencies is in sheer violation of the Islamic emphasis on honesty and integrity in all measures of value, fraudulent practices in the issue of coins in the fourteenth century and afterwards elicited a great deal of literature on monetary theory and policy.
		Islamic economics did not, therefore, develop as a separate intellectual discipline in conformity with the Islamic paradigm along the theoretical foundations and method laid down by Ibn Khaldun and his predecessors.
	eh.net /encyclopedia/article/chapra.islamic (8866 words)

	Islamic economics - Wikipedia, the free encyclopedia
		Islamic economics is economics in accordance with Islamic law.
		The Islamic bank then purchases that vehicle in its name, and sells it to the client at a marked-up price, under an agreement that the new marked-up price of the vehicle must be paid in a certain number of installments of a certain time period.
		In theory, Islamic banking should be synonymous with full-reserve banking, with banks achieving a 100% reserve ratio [2].
	en.wikipedia.org /wiki/Islamic_economics (1230 words)

	Islamic Economics Thought: Muslim Scholars on Islamic Economic
		In fact, economic philosophy of Islam is derived from the philosophy of life itself, since economic aspect is only a dimension of the composite human life in the Islamic philosophy, rather than economics being the central focus of all activities.
		Economics as a formal discipline finds its origin in Adam Smith (1776), developed further by the classical economists in the late 18th and early 19th centuries (Malthus 1778, Ricardo 1817) and neoclassical economists of the mid-and-late 19th centuries (Mill 1848, Walras and Marshall 1890).
		Economics as a formal discipline is a child of this colonial era and the West continued from where the Muslims left, and developed the field known as Economics.
	islamic-world.net /economics/economic_thought.htm (4809 words)

	EH.Net Encyclopedia: Islamic Economics: What It Is and How It Developed
		Their insight into some economic concepts was so deep that a number of the theories propounded by them could undoubtedly be considered the forerunners of some more sophisticated modern formulations of these theories.
		Since debasement of currencies is in sheer violation of the Islamic emphasis on honesty and integrity in all measures of value, fraudulent practices in the issue of coins in the fourteenth century and afterwards elicited a great deal of literature on monetary theory and policy.
		Islamic economics did not, therefore, develop as a separate intellectual discipline in conformity with the Islamic paradigm along the theoretical foundations and method laid down by Ibn Khaldun and his predecessors.
	www.eh.net /encyclopedia/article/chapra.islamic (8866 words)

	Tax - Wikipedia, the free encyclopedia
		The means of taxation, and the uses to which the funds raised through taxation should be put, are a matter of hot dispute in politics and economics, so discussions of taxation are frequently tendentious.
		Some economic theorists consider the concept to be intellectually dishonest since in reality money is fungible.
		However, who "pays" the tax (in the sense of who bears the ultimate economic burden of the tax) is determined by the market place and is found by comparing the price of the good (including tax) after the tax is imposed to the price of the good before the tax was imposed.
	en.wikipedia.org /wiki/Tax (5684 words)

	USC-MSA Compendium of Muslim Texts
		Others, anxious to vindicate the Islamic position on interest, have argued that interest is not very effective as a monetary policy instrument even in capitalist economies and have questioned the efficacy of the rate of interest as a determinant of saving and investment (Ariff l982).
		Islamic banks have also been resorting to purchase and resale of properties on a deferred payment basis, which is termed bai' muajjal.
		The early contributions on the subject of Islamic banking were somewhat casual in the sense that only passing references were made to it in the discussion of wider issues relating to the Islamic economic system as a whole.
	www.usc.edu /dept/MSA/economics/islamic_banking.html (9496 words)

	Islamic Finance and Beyond: Premises and Promises of Islamic Economics
		Mohammad Nejatullah Siddiqi is a Professor at the Centre for Research in Islamic Economics, King Abdulaziz University, Jeddah, Saudi Arabia.
		Some distinctive features of Islamic banking are reaffirmed: A close linkage between real economy and finance obviously holds in sharing based modes but also remains in case of fixed return Islamic modes of finance based on murabaha, etc. Islamic finance can meet all the transaction needs of the market.
		As regards Islamic economics the moral dimension is its raison dÕetre.
	www.soundvision.com /info/money/islamiceconomics.asp (3469 words)

	FROM ISLAMIC ECONOMICS TO ISLAMIC POLITICAL ECONOMY (Site not responding. Last check: 2007-10-21)
		The field of Islamic economics simply constitutes the theoretical and empirical study of positive economic phenonemon with the use of correcting policies and behavioural norms prescribed by Islam.
		Islamic economic history can then be taken up in this area to play an exogenous body of study, which at best, conveys the historical ways in which the Islamic norms were understood and implemented.
		The reason for this difference in substance of the terminology is that Islamic political economy is essentially a study of the endogenous role of ethico-economic relationships between polity and the deep ecological system.
	islamic-finance.net /islamic-economy/chap1/chap1-2.html (868 words)

	Teaching Islamic Economics
		Furthermore, the introduction of Islamic economics into school curricula was started quite late in spite of the enthusiasm shown by the Moslem peoples and their leaders towards the application of the precepts that contain the principles of Islamic economics.
		The study of Islamic economics knew its heyday in the early Islamic era, to the extent that several old books are full of original ideas that compare favorably with the modern concepts and theories of economics.
		Some Islamic universities and their specialized institutions may excuse themselves for not teaching Islamic economics as an independent subject by arguing that it is a new study area whose components have not been clearly delineated and about which there are limited basic references.
	www.witness-pioneer.org /vil/Books/MF_EEP/teaching.htm (2808 words)

	Islamic economics at opensource encyclopedia (Site not responding. Last check: 2007-10-21)
		Islamic economics is economics in the political context of Islam that respects its associated ethical codes.
		Islamic economic institutions, not just the Islamic bank but all those connected with Islamic banking, operate on the basis of zero interest.
		Both of these rules reflect the Islamic norm that the borrower must not bear all the cost of a failure, as it is Allah who determines that failure, and intends that it fall on all those involved.
	www.wiki.tatet.com /Islamic_economics.html (645 words)

	The genesis of Islamic economics; a chapter in the politics of Muslim identity.
		Islamic economics emerged toward the end of India's colonial period as part of a broad campaign to preserve the religious identity and traditional culture of the country's sizable Muslim minority, more than a fifth of the total population.
		The novelty of the concept of Islamic economics is evident in the intellectual evolution of Mohammad Iqbal (1876-1938), the Indian poet-philosopher who, a generation before Mawdudi, became a dominant voice for Islamic reassertion.
		Moreover, economics has become one of the battlegrounds, for there are Muslims who consider Western economic thought, policies, and institutions a threat to their cultural identity, along with others anxious about efforts to give economics an Islamic cast.
	www.mtholyoke.edu /acad/intrel/kuran.htm (10837 words)

	Daily Times - Site Edition (Site not responding. Last check: 2007-10-21)
		Islamic economic thinking is best understood through a socio-economic approach This approach sees economic behaviour as embedded in social institutions; specific to a social system which evolves over time, and not as something given by nature, universal and unchanging.
		Far from being a throwback to the social system of the Middle Ages, Islamic economics is similarly a set of ideas evolving in the last decades of the twentieth century to explain and address the economic problems faced by the citizens of predominantly Muslim countries.
		Islamic economics responds to the achievements and failures of, first, state capitalism, and, second, the international capitalist system’s antidote to state capitalism economic liberalization.
	www.dailytimes.com.pk /?page=story_18-6-2004_pg3_7 (572 words)

	IslamiCity.com - Ibn Taimiyah and Islamic Economics
		The decay in Islamic society had already set in with all that it implied by way of stultification of creative thinking on law and society.
		On the economic field, Ibn Taimiyah's vision was not narrow in fact it was clear and filled with wisdom.
		IslamiCity is making such material available in its effort to advance understanding of humanitarian, education, democracy, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.
	www.islamicity.com /Articles/articles.asp?ref=TN0504-2667 (1395 words)

	Untitled (Site not responding. Last check: 2007-10-21)
		Islamic economics as we understand it today and its corollary of Islamic banking is quite a new phenomenon, being in existence as we know it only for 20-30 years.
		Islamic economics is quite straightforward in its basic economic principles and no expertise is required for anybody to understand these practical principles, however a full understanding of the potential of Islamic economics requires a grasp of how the Islamic economic paradigm differs from the Western economic paradigm.
		Economics in Islam is recognized as an integral part of social life and therefore Islamic economics relates to other areas of social reality.
	www.salaam.demon.co.uk /economic/islam_ec.htm (522 words)

	Selected Papers on Islamic Economics
		The commerce, accounting and economic students fear to apply or study the Islamic economic system since their entire curriculum is based upon a Ribaa or interest based economic system, the application of which, brings to them the attraction of financial resources.
		Islamic economics however pertain to directing these resources firstly for necessities that should not be against the dictates of the Shariah.
		Economic obstacles that stand in the face of social and economic progress due to the absence or loss of professionals.
	www.islamsa.org.za /library/pamphlets/selected_papers_islamic_economics.htm (7593 words)

	Islamic Voice - RABI-UL-AWWAL \ RABI-UL-AKHIR 1424 H (Site not responding. Last check: 2007-10-21)
		So Islamic Economics needs to adopt a more comprehensive model than what Conventional Economics is able to offer, if these problems, which are all inter-related, are to be solved.
		While Islamic Economics talks about the ideals of Islam, it is also necessary to know the actual position in Muslim countries, how individuals, families, firms and governments actually behave.
		Islamic Economics is gradually drawing international attention and recognition.
	www.islamicvoice.com /june.2003/ine.htm (1240 words)

	Islamic Economics: Four Principles (Site not responding. Last check: 2007-10-21)
		Islamic governments often use this principle to justify wealth and income taxation of the rich in order to redistribute income to the poor.
		A second Islamic economic principle that has a strong influence on economic activity is the demand that people work hard and trade fairly with one another.
		Islamic banks can take in deposits from savers and then lend this money to businesses that promise to pay a set percentage of their profits to the bank.
	www.suu.edu /faculty/bowman/Econ3790/IslamicEcon.html (970 words)

	Islamic Economics: A Psycho—Ethical Paradigm - Finance In Islam (Site not responding. Last check: 2007-10-21)
		The conventional (positive) Liberalistic economic paradigm is said to have relegated normativeness and ethical valuations to the limbo of ineffectuality on the grounds that a scientist qua scientist should concern himself with what is rather than what ought to be.
		The predominant acceptance of egocentricity as a value premise of modern economics is reflected-in the psycho-ethical propositions of the homo economics, viz, self-sufficiency, self-judgment, ethico -solipsism universal hedonism and global rationality.
		Muslim economists are invited to scrutinize the cooperative nature of the Islamic philosophy of factor compensation- the high tendency towards share contracts; it is a basis for a new economic paradigm- the share economy where self-managed firms gradually supersede the conventional neo-classical theory of the firm.
	www.financeinislam.com /article/1_36/1/512 (4076 words)

	Dynamist.com: Islamic economics, "Islam & Mammon" by Timur Kuran
		In a new book, ''Islam and Mammon: The Economic Predicaments of Islamism'' (Princeton University Press), Timur Kuran, professor of economics and law and the King Faisal professor of Islamic thought and culture at the University of Southern California, looks at the cluster of ideas known as Islamic economics.
		Islamic economics was one of many terms -- including Islamic sociology, Islamic democracy and Islamic constitutionalism -- that Mawdudi used to give Western concepts a Muslim identity.
		In recent decades, Islamic economics has come to mean three things, all supposedly rooted in the ''golden age'' of seventh-century Arabia: a ban on interest, a wealth tax known as zakat, and honesty and altruism in commercial dealings.
	www.dynamist.com /articles-speeches/nyt/kuran.html (943 words)

	Islamic Economics Homepage (Site not responding. Last check: 2007-10-21)
		His significant contributions to economics, however, should place him in the history of economic thought as a major forerunner, if not the "father," of economics, a title which has been given to Adam Smith, whose great works were published some three hundred and seventy years after Ibn Khaldun's death.
		The economic policy has to do with the role of the government Such a government role is made available through its ownership of the major natural resources and al-Hisbah.
		Joseph Schumpeter said that there was a great gap in the history of economic philosophy during 500 years ago; at the time when the West was in the Dark Age, on the contrary Islam was in the Golden Era.....
	www.islamic-world.net /economics (1019 words)

	Adbusters : The Magazine - #54 I, Terrorist / Islamic Economics
		The growing discipline of Islamic economics hints at the potential to hardwire an economy with ethical considerations.
		Islamic economics also mandate participatory arrangements between capital and labor and a ban on interest.
		Even though Islamic banks are beholden to principles of social responsibility that make them less profit-driven than western interest-based banks, they have proven to be quite lucrative.
	adbusters.org /the_magazine/54/Islamic_Economics.html (961 words)

	Islamic Economics and Shariah Law: A Plan for World Domination - Guest - Dec 20, 06 (Site not responding. Last check: 2007-10-21)
		Islamic economics has an impact on your life, whether you are a banker, investing in the stock market, selling a home, buying a car, purchasing food, buying a suit or a dress, or just trying to make sense of the current events.
		Islamic economics and Islamic banking are primary Islamist strategies to condition the West to accept Shariah law as a basis for all life in all nations.
		Islamic economics covers the broad ideologies, which require individuals and countries to operate, finance and invest in accordance with the principles of Shariah Law.
	www.americandaily.com /article/16883 (9608 words)

	Islamic Economics
		For a socially and environmentally-concerned ethical economic and financial system The Islamic Economics Unit of the Islamic Foundation was established in 1976, and in a short span of time, it became one of the major centres of Islamic economics in the world.
		It has developed a specialised library and documentation unit on Islamic economics, banking and finance – perhaps the richest resource centre in Europe in the field.
		The Review of Islamic Economics provides a forum to the specialists wishing to contribute to the development of Islamic economics, banking and finance as a distinct branch of knowledge, and encourages submission of work by academics, professional practitioners, policymakers and recent graduates.
	www.islamic-foundation.org.uk /islamicEconomics.htm (530 words)

	Islamic Voice (Site not responding. Last check: 2007-10-21)
		This is to continue the debate on the topic of interestless banking of Islamic economics published in the June issue of Islamic Voice.
		If the economic society moves through the historical irreversible trend of downward prices, the metamorphosis is completed to accomplish interest-free loans by the policy of the state.
		If the economic development is governed by the forces of competition in the market, the prices in the long period analysis, move downward as a trend.
	www.islamicvoice.com /august.97/ISLA.HTM (1394 words)

	www.islamic-finance.com
		When we examine Western economic thought from the last three centuries, we might reasonably argue that Classicism, Marxism, Keynesianism and Monetarism are its four leading schools.
		Facts on the ground that are created by Islamic banking executives, find their way into the academic literature as case studies.
		Where once the core Islamic principles were the centre of attention, now they are relegated to the status of footnotes during the launch of a new 'Islamic' financial instrument.
	www.islamic-finance.com /item106_f.htm (789 words)

	Introduction
		This was done and the result was published in the series “Economics in Islam” with the hope of disseminating it among the majority of readers.
		Economics in Islam, which seeks social justice and dignity for all, is based on solid principles brought forth by the Koran and the Sunna.
		The effort of all researchers in Islamic economics is therefore needed both at the level of discussion of the economic principles in Islam, and at the level of application of these principles to solve current economic problems.
	www.witness-pioneer.org /vil/Books/MF_EEP/introduction.htm (686 words)

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