Gendered Accounts of Expertise Within Islamic Finance and Financialization in Malaysia

Elder, Laura

doi:10.1007/978-3-319-45692-8_7

Cited by 5 publications

(3 citation statements)

References 47 publications

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“…16 Ijtihad (deliberative reasoning) is an important mechanism in Islamic law. It has become increasingly implicated in debates about control, evolving for example around the question of whether lay persons/women can participate in ijtihad or whether it should be restricted to (mainly male) Islamic scholars (see also Elder 2017). 17 Bergeaud-Blackler (2015) distinguishes two other uses of 'halal', halal théologique (les usages savant) and halal comme qualité (les usages marchands).…”

Section: Resultsmentioning

confidence: 99%

Corporate Islam, Global Capitalism and the Performance of Economic Moralities

Rethel

2018

New Political Economy

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Recent years have witnessed the rapid expansion of the Islamic economy, which by some estimates has reached a size of US$ 4 trillion. The growth of the Islamic economy presents an intriguing test case for the compatibility of global capitalism and moral -in this case specifically Islamic -principles. This article adopts a performative lens to draw attention to the role of the World Islamic Economic Forum and the Global Islamic Economy Summit as legitimation mechanisms celebrating economic diversity and the success of Muslim entrepreneurs with the aim of increasing the visibility of the Islamic economy.Here, a polyphony of Muslim voices is sought to be consolidated into the voice of 'business Islam', with important implications for how the Islamic economy is conceived, defined and delineated.

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Section: Resultsmentioning

confidence: 99%

Corporate Islam, Global Capitalism and the Performance of Economic Moralities

Rethel

2018

New Political Economy

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“…Rudnyckyj (2019) also discusses women's powerful role in Malaysian Islamic banking relative to the Middle East, where women are nearly absent from the industry. However, Elder (2017) points out that female scholars in Islamic banking are expected to play a symbolic role through their soft and humane nature, which reflects the Islamic moral aspects of banking and finance, rather than playing an equal role to men. Enhancing the role of women in Islamic banking was one of the most convenient policies for BNM in that this policy can reflect both modern or neoliberal aspects and moral aspects of Islamic banking.…”

Section: Neoliberalisation To Utilise Global Resources For Malay Interestsmentioning

confidence: 99%

Policymakers’ Logic on Islamic Banking: Islamic Banking as an Ethno-Political Tool in Malaysia

Kitamura

2020

Journal of Current Southeast Asian Affairs

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Social scientists have long sought to understand what Islamic banking is. This study seeks to answer this question by exploring the neoliberalisation process of Islamic banking policies in Malaysia and identifying policymakers’ logic behind this process. For this purpose, this study conducted interviews with actors associated with Bank Negara Malaysia (BNM), the central bank of Malaysia. The findings demonstrate that, in the neoliberal era, BNM quietly and continuously pursued the goal of preferably giving economic opportunities to Malay Muslims by establishing institutional mechanisms rather than by offering preferential treatment in a straightforward manner. The Shariah nature of Islamic banking served to conceal this goal from the public. I define Islamic banking as an ethno-political tool rather than simply as a religious economy and contend that the philosophy of Islamic banking as a moral economy conceals an agenda of protecting Malay interests.

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“…Taking on this postcolonial approach provides the timeframe for the analysis in the paper: our viewing of financialization is centred on the development of FC policies relating to equity markets from the postcolonial period (1950s onwards) in Malaysia. This considerably pre-dates the establishment of Islamic finance in Malaysia (Yakcop, 2002) and hence in this paper the primary focus is not Islamic finance or Islamic banking, though we recognise that this is an important element of the current financial landscape (Elder, 2017;Lai and Samers, 2017;Müller, 2017;Rethel, 2016).…”

Section: Introductionmentioning

confidence: 99%

Financial citizenship and nation-building in Malaysia: elites' and citizens' perspectives

Rahman

Ertürk

Froud

2019

Journal of Economic Geography

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This article presents a postcolonial analysis of financial citizenship (FC) programmes in Malaysia. Drawing on secondary data and on interviews with elites and citizen investors, the paper explores the spatial and historically specific nature of financialisation in a postcolonial context. Specifically, the paper draws out the significance of FC as part of broader nation building objectives in Malaysia from an elite perspective, while also observing the reluctance of citizen investors who are engaging with the equity market to support the formal objectives of the policy. In doing so, it provides an example of the financialisation of everyday life in a distinctive and complex emerging economy context. Moreover, the paper explores these processes from both elite and citizen perspectives, allowing these layered relations within FC to be analysed. The article, therefore, contributes to the financialisation literature by bringing new understandings of elite–citizen relations in postcolonial nation-building strategies.

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Gendered Accounts of Expertise Within Islamic Finance and Financialization in Malaysia

Cited by 5 publications

References 47 publications

Corporate Islam, Global Capitalism and the Performance of Economic Moralities

Corporate Islam, Global Capitalism and the Performance of Economic Moralities

Policymakers’ Logic on Islamic Banking: Islamic Banking as an Ethno-Political Tool in Malaysia

Financial citizenship and nation-building in Malaysia: elites' and citizens' perspectives

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