Is it necessary to have Islamic economics?

Chapra, M. Umer

doi:10.4337/9781783475728.00007

Cited by 4 publications

(3 citation statements)

References 3 publications

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“…Chapra (2012) argues that the Islamic finance industry needs to be re-structured such that the offered products and services satisfy the following three requirements. First, it must have its own methodology to be useful to practitioners and to academicians.…”

Section: Discussionmentioning

confidence: 99%

Toward new strategies of Islamic financial products development

Mansour

2020

JIABR

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Purpose This paper aims to propose a conceptual framework for the assessment of Islamic financial products’ development. Design/methodology/approach A coordinate grid with two perpendicular axes (profitability and compliance to Shari’ah) is developed and used to produce a nine-zone matrix. The research design is further developed by using a linear, composite index to assess product development feasibility and specifications. Subsequently, three strategic paths are identified: profitability-led strategic path, compliance-led strategic path and intermediate strategic path. Findings The findings indicate that the ideal strategic behavior the Islamic financial institutions have to borrow corresponds to the intermediate strategic path because it optimizes the trade-off between the two attributes under consideration. A proper development strategy of Islamic financial products should not ignore the compliance to the substance of Shari’ah and combine it simultaneously with profitability. Originality/value The paper’s originality consists in the identification of the portfolio of Islamic financial products’ strategic positioning in the nine-zone matrix and the determination of the most suitable product development strategy.

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Section: Discussionmentioning

confidence: 99%

Toward new strategies of Islamic financial products development

Mansour

2020

JIABR

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“…İslâmi iktisadın gelişimi; belirli ekonomik yaklaşımların "egemen dünya görüşlerinin mantıksal sonucu" [14] olduğu varsayımıyla, ekonomik sorunlara karşı "farklı İslâmi yanıtlar" olduğu iddiasıyla gerekçelendirilmiştir. [15] Bu tür "dünya görüşleri" içinde; evrenin başlangıcı, insan yaşamının doğası, doğruluğun anlamı, erdem, değer, insan ilişkileri, kaynak mülkiyeti ve kullanımının kuralları gibi hususlara dair inançları barındırır-kısacası, bir dünya görüşü "dünyanın nasıl çalıştığına dair örgütlenmiş bir inançlar dizisidir."…”

Section: İslâmi İktisadı Geliştirmenin Gerekçesiunclassified

İslâmi İktisat Analizinin Yeni Bir Çerçevesine Doğru

Susamto

2024

AJIS

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Bir disiplin olarak İslâmi iktisadı geliştirme çabaları, alandaki literatürünbolluğuna rağmen, hedeflenen sonuçlara ulaşamadı. Bumakale, İslâmi iktisadın gelişimini engelleyenin, iktisadı “İslâmi”yapan şeyin onun tanımındaki eksiklik olduğunu ileri sürmektedir.Bu eksikliği gidermek için bu makale iktisadın “İslâmi” olarak değerlendirilebileceğiüç koşul önermekte ve sonrasında İslâmi iktisadınkapsamını ve yöntemlerini tanımlamaktadır. Son olarak, bu makale,birlikte ele alındığında İslâmi iktisadı geliştirme ve bilgi birikiminiinşa etmenin korkulduğu kadar karmaşık olmadığını gösteren üçöneri sunacaktır.

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“…Prominent Islamic economics scholars take the view that Islamic banking should strive in becoming the catalyst for economic growth through the equitable distribution of wealth and resources. Above all, the elements of inequity, injustice, and exploitation should be eradicated to avoid oppression in the society and to ensure inclusivity of all segments of society in access to the resources [5][6][7][8].…”

Section: Introductionmentioning

confidence: 99%

Hybrid Approach of Mathematical Optimization for Multi-Objective Model of Islamic Banking

Kamil,

Shahimi,

Ismail

et al. 2021

MATEMATIKA

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The integration of economic and social objectives is essential for Islamic bank to stimulate economic growth through the effective management and allocation of wealth and resources. This article proposes a hybrid mathematical optimization between the analytic hierarchy process (AHP) and multi-choice goal programming (MCGP) methods. The hybrid methods make the amalgamation of economic and social objectives possible in the multi-objective model of Islamic banking. The AHP method is used to determine the priorities or weights on each of the economic and social objectives. MCGP on the other hand, serves as an optimizer to the Multi-objective Decision Making (MODM) model that fits the priorities to the objectives and possible target goals. Results confirmed on the practicality and flexibility of the hybrid AHP-MCGP model which enable Islamic banks to better utilize their financial resources based on the priorities and multiple target goals. The feasible achievement of multi-objective with an interval target goal has offered the avenue for the decision makers at Islamic bank to satisfy economic and social goals simultaneously.

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Is it necessary to have Islamic economics?

Cited by 4 publications

References 3 publications

Toward new strategies of Islamic financial products development

Toward new strategies of Islamic financial products development

İslâmi İktisat Analizinin Yeni Bir Çerçevesine Doğru

Hybrid Approach of Mathematical Optimization for Multi-Objective Model of Islamic Banking

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