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focuses on whether it is constitutionally possible for Australia to implement reforms to facilitate faithbased financial … transactions.There have been calls for Australia to become a financial hub – particularly in South East Asia. One aspect of this is … fundamental question needs to be addressed: is it appropriate for Australia's tax laws to be amended to facilitate what may be …
Persistent link: https://www.econbiz.de/10013037879
This paper considers the factors the allowed for the birth and facilitated the subsequent development of the equity side and the finance (or debt) side of the Islamic capital markets. The equity side of the Islamic capital markets began in 1998 with the issuance (after five years of debate) of a...
Persistent link: https://www.econbiz.de/10013128753
This article provides a short overview of "riba", the principal feature of Islamic banking law. Riba refers to certain prohibitions against charging and paying interest on loans and prohibitions against certain other transactions to protect debtors. Sources of Islamic law are reviewed to explain...
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This focus of this paper is the regulation of one segment of modern Islamic finance: Islamic banking, whether conducted by stand-alone Islamic banks or “Islamic windows” within conventional interest-based banks. Consideration is given to a select group of illustrative issues that arise in...
Persistent link: https://www.econbiz.de/10012937529
Theoretical approaches and demonstrated repertoires in the Islamic finance literature have formed a divergent and inconsistent system that did not truly value the importance of the Shariah Advisory Board’s quality and practices. The real impacts generated by the Shariah Advisory Board on the...
Persistent link: https://www.econbiz.de/10013459376
One of Islam's five canonical pillars is a predictable, fixed, and mildly progressive tax system called zakat. It was meant to finance various causes typical of a pre-modern government. Implicit in the entire transfer system was personal property rights as well as constraints on government—two...
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