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The principles of Islamic finance are laid down in the sharia, Islamic law. Islamic finance, comprising financial transactions in banks and non-bank financial institutions formal and non-formal financial institutions, is based on the concept of a social order of brotherhood and solidarity. The...
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-Saharan Africa. A gap of around US$ 31 billion1 exists per year that must be bridged if Africa's infrastructure needs are to be met … Islamic financial resources in the development of infrastructure projects not only in Kenya but in Sub Saharan Africa as well. …The high profile of infrastructure and access to related services in the communiqués of the World Bank (WB) and the …
Persistent link: https://www.econbiz.de/10012801911
The Islamic finance industry has grown substantially in Asia over the last 2 decades. The Muslim populations in … different Asian countries, especially in Southeast Asia, are increasing. Rapid Muslim population growth and improving living …, investors from the Middle East and Asia are increasingly seeking to invest in products that are in line with their religious …
Persistent link: https://www.econbiz.de/10011879429
yearly while the banks still make decent profits. Yet, Islamic finance in Africa imitates the financing model of the West and … the GCC. Foreign capital evaporates with the slightest shock in Africa and the growth of GDP means nothing to the … primary intent of the Shariah which aims to achieve societal happiness. Equity funds are looking scarce in Africa but the …
Persistent link: https://www.econbiz.de/10012861006
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The first book presents the papers and proceedings of the International Seminar on "Islamic Thought: Current Issues and Challenges", held at the International Islamic University, Malaysia during July 1987. The papers presented covered the following areas: Historical and Ideological Basis of...
Persistent link: https://www.econbiz.de/10012927193
This study argues that diverse approaches are needed to minimize financial exclusion in Islamic Development Bank (IDB) member countries. It recommends that MFIs must consider the cultural and religious sensitivities of Muslim societies while attempting to build inclusive financial systems. The...
Persistent link: https://www.econbiz.de/10013154496
According to the standard narrative, economics is an objective and scientific study of universal laws applicable to economic affairs of modern societies. After a brief introduction, the second section of the paper presents a counter-narrative which disputes this claim, and provides an...
Persistent link: https://www.econbiz.de/10012894183
In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Qur'ān and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...
Persistent link: https://www.econbiz.de/10012922274