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Exploitation, profit and the riba-interest reductionism

Farooq, Mohammad Omar - In: International Journal of Islamic and Middle Eastern … 5 (2012) 4, pp. 292-292

should be to be in harmony with the maqasid of Islam to minimize zulm (injustice/exploitation) in the society. Social … implications – The larger goal of the Islamic finance and banking movement should be to be in harmony with the maqasid of Islam to …

Persistent link: https://www.econbiz.de/10010616652

Development Demystified : An Islamic Perspective

Farooq, Mohammad Omar - 2018

and compatible with Islam? The main thesis of this paper is that there is no secret about development and underdevelopment …

Persistent link: https://www.econbiz.de/10014117480

Contemporary Islamic Economic Thought

Farooq, Mohammad Omar - 2015

Contemporary Islamic economic thought has its roots in the Islamic revivalism of the twentieth century. Since the time of Prophet Muhammad, Muslims had a vibrant and dynamic civilization, where the economic life did go on both at the individual and collective level. While economics as a...

Persistent link: https://www.econbiz.de/10013020276

Issues in Endogenizing Relevant Systematic Risk in Islamic Sustainable Finance

Farooq, Mohammad Omar; Salim, Mohammed - 2021

Environment and climate change are generally considered a systemic risk, not as part of the systematic risk. The view of Islamic finance industry and institutions is no different. However, with greater awareness about the existential threat of climate crisis, there is call for treating it as...

Persistent link: https://www.econbiz.de/10013222949

Self-Interest, Homo Islamicus and Some Behavioral Assumptions in Islamic Economics and Finance

Farooq, Mohammad Omar - 2012

The theoretical foundation of Islamic economics and finance is based on, among other things, Homo Islamicus or Islamic Man. Islamic economics and finance theoreticians contrast Homo Islamicus with Homo economicus or the Economic Man. This paper examines whether or not Homo Islamicus is...

Persistent link: https://www.econbiz.de/10013115318

Change and Continuity : The Dynamics of Institutional Behavior in Islam

Farooq, Mohammad Omar - 2010

The Muslim world is facing stagnation due to a lack of balance between two opposing forces: the force for continuity/stability and the force for change. This paper makes the case that these forces must be in balance for healthy, Islamic progress of the Muslim society. This paper analyzes the...

Persistent link: https://www.econbiz.de/10013151030

Islamic Wealth Management and Some Unconventional Thoughts

Farooq, Mohammad Omar - 2013

As part of Islamic finance industry, one of the areas that has become quite popular is Islamic wealth management (IWM). How IWM is distinguished from its conventional counterparts? How closely the current practices correspond with the maqasid of Islamic finance? This brief paper provides a brief...

Persistent link: https://www.econbiz.de/10013083707

The Challenge of Poverty and the Poverty of Islamic Economics

Farooq, Mohammad Omar - 2014

In the past half century Islamic economics was eclipsed by Islamic finance movement. Gradually Islamic economics has taken a back seat without any economy to back it up empirically. Although Islamic finance emerged as an offshoot of Islamic economics and with the blessing and advocacy from...

Persistent link: https://www.econbiz.de/10013071173

Masudul Alam Choudhury, Islamic Critique and Alternative to Financial Engineering Issues

Farooq, Mohammad Omar - 2018

This is definitely a scholarly paper of sufficient originality. Before I offer my critique, let me summarize the paper and identify its core aspects. It argues that a financial system and its constituents “stand upon the assumptions of behavior, markets and institutions” of their respective...

Persistent link: https://www.econbiz.de/10012927208

Conscious Capitalism and Islam : Convergence and Divergence

Farooq, Mohammad Omar; Ahmad, Abu Umar Faruq - 2022

. Notably, uniquely among the peer religions, Islam views itself as a comprehensive way of life and offers a set of values …, norms, and parameters that can shape what is identified as an Islamic Economic System. As a cardinal value, Islam emphasizes … that can induce the adherents of Islam to take a closer look at Conscious Capitalism, and examine the potentials that an …

Persistent link: https://www.econbiz.de/10014237447