Islamic Social Finance


Book Description

The current dynamics of world economy show remarkable changes in the socio-economics of credit provision and entrepreneurship. If the emergence of the sharing economy is fostering innovative models of collaborative agency, networking and venture business, economic actors are also looking for a more sustainable development, able to foster profitability as well as community welfare. This book investigates Islamic social finance as a paramount example of this economy under change, where the balance between economic efficiency and social impact is contributing to the transformation of the market from an exchange- to a community-oriented institution. The collected essays analyse the social dimension of entrepreneurship from an Islamic perspective, highlighting the extent to which the rationales of "sharing," distribution and cooperation, affect the conceptualization of the market in Islam as a place of "shared prosperity." Moving from the conceptual "roots" of this paradigm to its operative "branches," the contributing authors also connect the most recent trends in the financial market to Shari‘ah-based strategies for community welfare, hence exploring the applications of Islamic social finance from the sharing economy, FinTech and crowdfunding to microcredit, waqf, zakat, sukuk and green investments. An illuminating reference for researchers, practitioners and policy-makers dealing with the challenges of a global market where not only is diversity being perceived as a value to be fostered, but also as an important opportunity for a more inclusive economy for everybody.




Economic Development and Islamic Finance


Book Description

Although Islamic finance is one of the fastest growing segments of emerging global financial markets, its concepts are not fully exploited especially in the areas of economic development, inclusion, access to finance, and public policy. This volume is to improve understanding of the perspective of Islamic finance on economic development, social and economic justice, human welfare, and economic growth.




Takaful and Islamic Cooperative Finance


Book Description

Islamic finance distinguishes itself from conventional finance with its strong emphasis on the moral consequences of financial transactions; prohibiting interest, excessive uncertainty, and finance of harmful business. When it comes to risk mitigation, it is unique in its risk sharing approach.




Islamic Economic Co-operation


Book Description

Annotation This study aims to make a comprehensive and rigorous policy-theoretic study of Islamic economic co-operation in contemporary perspectives. The principles of Islamic economic theory are rigorously applied to the models, quantitative aspects and analysis of issues relating to Islamic development co-operation. Comparative perspectives of the theory of international economics and development economics are integrated. Critical issues on development financing facing the developing economies in general and the significant proportionate representation of the Islamic economic region in this, are also examined. Finally, the potential of Islamic economic co-operation in the South-South context and the North-South context are studied.




Economic Empowerment Of Women In The Islamic World: Theory And Practice


Book Description

The book, Economic Empowerment of Women in the Islamic World, discusses the economic, social, and political rights and status of women in Islam, which is theoretically given by the Islamic Jurisprudence (Shariah law). The chapters in this volume will address historical practices in comparison to the status of women in the contemporary Muslim world. Men and women in Islam, regardless of their age, social class, and education, are equal as citizens and individuals, but not identical in their rights and responsibilities. It can be observed from Islamic history that in the early age of Islam, women were given full confidence, trust, and high responsibilities in leadership, educational guidance, and decision-making.This volume will try to clarify the confusion in the status of the women in Islam that is presented by the media, as it is assumed that theoretical Islamic empowerment of women bears little relation to the real conditions of women in modern Muslim societies. It has been widely claimed in the media that Muslim women suffer more than men in Muslim societies and communities in terms of insecurity, domestic abuse, and low access to education and medical care. It is also stated in the press and media that absence of good governance also results in gender inequality and violation of the rights of Muslim women.This volume also aims to provide the solutions for the empowerment of women in the Islamic world. We assumed that without good governance, the status of women is not likely to improve. Muslim women have the potential to play a fundamental role in curbing corruption, social ills, violence, and crime in the Muslim world. This volume will make the case that in order to achieve stability and prosperity, the government must ensure a platform for women to participate in decision-making and hence benefit from the rights they are accorded in Islam.By covering a range of perspectives on the economic lives of Muslim women around the world, it hopes to shed light on the problems faced and to offer possible solutions to the empowerment of women in the Islamic world.




Islamic Economies


Book Description

This book explores contemporary empirical issues in Islamic economics. It begins by outlining current trends in Islamic economics and before identifying gaps in the empirical research. It then goes on to discuss the role of institutions in economic growth for Islamic countries, and the fiscal aspects of Islamic economics. It explores issues in debt and growth, as well as the instruments of monetary management in Islamic economics. It analyses the trade-off between growth and stability and concludes with discussion of Zakat and Waqf in driving growth.







A Model for Islamic Development


Book Description

This book aims to explore and analyse Islamic Moral Economy (IME) as an alternative economic and social system to capitalism and socialism. It proposes a new model of Islamic development, integrating global development within an Islamic framework of spiritual development. It is argued that the failure of Muslim countries to provide basic necessities and an environment free of oppression and injustice can be overcome with this authentic Islamic development framework. In addition, this book can be an important study to identify the theological, political, social and economic boundaries for changing the society to produce IME oriented developmentalism.




The Organization of Islamic Cooperation and Human Rights


Book Description

Established in 1969, the Organization of Islamic Cooperation (OIC) is an intergovernmental organization the purpose of which is the strengthening of solidarity among Muslims. Headquartered in Jeddah, the OIC today consists of fifty seven states from the Middle East, Asia, Africa, and Latin America. The OIC's longevity and geographic reach, combined with its self-proclaimed role as the United Nations of the Muslim world, raise certain expectations as to its role in global human rights politics. However, to date, these hopes have been unfulfilled. The Organization of Islamic Cooperation and Human Rights sets out to demonstrate the potential and shortcomings of the OIC and the obstacles on the paths it has navigated. Historically, the OIC has had a complicated relationship with the international human rights regime. Palestinian self-determination was an important catalyst for the founding of the OIC, but the OIC did not develop a comprehensive human rights approach in its first decades. In fact, human rights issues were rarely, if at all, mentioned at the organization's summits or annual conferences of foreign ministers. Instead, the OIC tended to focus on protecting Islamic holy sites and strengthening economic cooperation among member states. As other international and regional organizations expanded the international human rights system in the 1990s, the OIC began to pay greater attention to human rights, although not always in a manner that aligned with Western conceptions. This volume provides essential empirical and theoretical insights into OIC practices, contemporary challenges to human rights, intergovernmental organizations, and global Islam. Essays by some of the world's leading scholars examine the OIC's human rights activities at different levels—in the UN, the organization's own institutions, and at the member-state level—and assess different aspects of the OIC's approach, identifying priority areas of involvement and underlying conceptions of human rights. Contributors: Hirah Azhar, Mashood A. Baderin, Anthony Tirado Chase, Ioana Cismas, Moataz El Fegiery, Turan Kayaoglu, Martin Lestra, Ann Elizabeth Mayer, Mahmood Monshipouri, Marie Juul Petersen, Zeynep Şahin-Mencütek, Heiní Skorini, M. Evren Tok.




The Organization of Islamic Cooperation


Book Description

The Organization of Islamic Cooperation (OIC) is the world’s leading international Islamic organization. Turan Kayaoglu provides the first accessible and concise introduction and overview of this important organization. This book details the OIC’s struggle to address popular Muslim demands balanced against the member states’ reluctance to support the OIC politically and materially. Despite this predicament, the organization has made itself increasingly relevant over the last decade through increasing its visibility as the representative body of Muslim unity and promoting its role as a reliable interlocutor on behalf of Muslims in global society. Outlining the history, workings and goals of the OIC, the book also highlights key issues that may influence the OIC’s ability to realize its potential in the future. This will be of great interest to students and scholars of international relations, international organizations and islamic studies.