Informalshariahpawnshop in the traditional markets of Surakarta

Abstract

Purpose This study aims to explore how informal pawnbrokers and informal pawners interpret the existence of the informal pawnshop in the traditional market in Surakarta, Indonesia, with the main focus to determine the applicability of informal pawnshop development model. Design/methodology/approach The research used the qualitative method with the phenomenological approach using interview method to fully comprehend the informants’ views regarding the informal pawnshop existence in traditional markets in Surakarta, Indonesia. The applicability of informal pawnshop development model is required for Muslim market vendors. Charitable institutions shall participate in the development of the model by empowering (zakat, infaq, shadaqah and waqf) funds to help Muslims vendors in the traditional markets for additional capital in accordance with Islamic laws for a pawnshop. Findings The result of the research shows that the existence of informal pawning in the traditional markets is difficult to avoid as both informal pawnbrokers and informal pawners need one another. Most vendors in the traditional markets are Muslims. Islam teaches that loan interest is categorized as forbidden riba. Meanwhile, in the informal pawning practices, the informal pawnbrokers charge loan interest to the informal pawners. Originality/value The objective of this study is to investigate to what extent the Islamic pawn shops motivated the people through interest-free system. However, in past, tradition markets facilitate the people, but they charged a huge against it with interest (riba).

The short-run and long-run dynamics among FDI, trade openness and economic growth: using a bootstrap ARDL test for co-integration in selected South Asian countries

“…The findings of Goh et al (2017) also found that trade (dependent), FDI and GDP (independent) variables found the long cointegration among these variables. The findings of as Durairaj ( 2010), Shabbir (2019) and showed only on the bases of the significance of F 1 and found that there is the long run relationship exists between FDI and other variables.…”

Philosophy behind Islamic Economics: Limited Desires and Unlimited Resources

“…The qualitative research method is related to the collection of information about phenomenon and events and things that have occurred or existing recently (Sandewoloski, 2000). The researcher has chosen this method to describe and analyze a problematic concept about Islamic economics (Shabbir, 2018b;Shabbir, 2019). The researcher used the myriads of pedantries get at able from the vulnerable literature on Islamic economics, Western economics, past research papers, articles from available resources including research journals, online libraries, and magazines from different websites.…”

Women’s political representation in the local governance of Azad Jammu and Kashmir, Pakistan

“…Regarding the question about the role of biradari, patronageclient relations for party positions and social networks, members highlighted their importance and impact on women's political participation (Shabbir, 2019). One member (city president) shared her views about the party attitude toward workers who do not have a strong linkage or support to come forward.…”