Islamic Banking and Finance: Fundamentals and Contemporary Issues

An Overview − 11 − Reza Djojosugito’s paper focuses on Indonesia. The paper “Legal Aspects of Islamic Project Finance and Asset ...

Salman Syed Ali & Ausaf Ahmad − 12 − (^4) Other purposes are protection of life, progeny, intellect, and faith. For details, ...

Mabid Ali Al-Jarhi^ Introduction Islamic banking and finance can be described as a system through which finance is provided in t ...

Mabid Ali Al-Jarhi contemporary shape. Whether it has sufficiently approached the Islamic paradigm par excellence or not, is a d ...

Philosophical Underpinnings consumption and investment. These results imply that the long forgotten Christian and Jewish teachin ...

Mabid Ali Al-Jarhi In case of profit sharing modes of Islamic finance, focus would be on the profitability and rate of return of ...

Philosophical Underpinnings 3.2 Risk-sharing Another important aspect of micro theory is that of risk-sharing. Conventional fina ...

Mabid Ali Al-Jarhi 3.3 Equity Considerations An important aspect of macro theory is equity. Islamic financial system is basicall ...

Philosophical Underpinnings 4. Banking Theory Let us first look at the liabilities of Islamic banks of which only demand deposit ...

Mabid Ali Al-Jarhi Islamic banks should, therefore, function as universal banks, which are “large-scale banks that operate exten ...

Philosophical Underpinnings mass of firms. The costs of mobilizing the critical mass are reduced, if banks are allowed to own eq ...

Mabid Ali Al-Jarhi (^11) Economists also recommended the application of 100 per cent required reserve ratio. However, policymake ...

Philosophical Underpinnings Al-Jarhi, Mabid Ali (1981) “The Relative Efficiency of Interest-Free Monetary Economies: The Fiat Mo ...

Mabid Ali Al-Jarhi Fohlin, Caroline (1998), “Banking Systems and Economic Growth: Lessons from Britain and Germany in the Pre-Wo ...

M. Umer Chapra^ 1. Introduction Four of the world’s major religions (Judaism, Christianity, Hinduism and Islam), having a follow ...

M. Umer Chapra on the basis of both efficiency and equity, the two criteria on the basis of which any economic or financial syst ...

The Case Against Interest: Is It Compelling? Others feel that the ultimate cause is the bursting of the speculative bubble in as ...

M. Umer Chapra United Kingdom have also faced crises and whether greater regulation, supervision and transparency will by itself ...

The Case Against Interest: Is It Compelling? absence of explicit risk-sharing. It is this fault line which makes it possible for ...

M. Umer Chapra 4.1 The East Asia Crisis The Eastern tigers had been considered to be among the global economy’s shining success ...