Issues in the International Financial Crisis from an Islamic Perspective

Issues in the International Financial Crisis from an Islamic Perspective

This is a special book about the international financial crisis
containing researches and dialogues that have taken place in the Islamic
Economic Research Centre (IERC). The book consists of contributions
from researchers of the IERC and others. Some of these contributions
published before the crisis and others after its occurrence.

The book contains variety of papers; some of them are related to
banking, while others relate to financial markets, to examining what
Islamic Finance in particular, and Islamic Economics in general can offer
in ideas and suggestions to help get out of the crisis, or at least reduce its
severity. The book also contains other papers that examine the crisis; its
causes and solutions, the advantage of Islamic Finance in achieving
financial stability and reducing the severity of “business cycles”, and the
inclination of Islamic Economics in developing financial markets that are
free of Riba and gambling.

Please click the link below to download the book. (source: King Abdul Aziz University – Saudi Arabia)

http://ierc.kau.edu.sa/Files/121/Researches/55495_25818.pdf

Islamic Economics_ what went wrong?

ISLAMIC ECONOMICS, what Went Wrong?
by Monzer Kahf

http://monzer.kahf.com/papers/english/ISLAMIC_ECONOMICS_what_went_wrong_SEPT_03_IRTI.pdf

Journal of Islamic Economics

Volume 1 Number 1  – 1987 – 76 pages

• The Role of Ethics in beEconomics and Business by Dr Syed Othman Alhabshi
• Methodology of Islamic Economics by Muhammad Akram Khan
• Economic Development in Islam by Dr A H M Sadeq
• Zakat in Malaysia – Present and Future status by Nik Mustapha bin Hj Nik Hassan

Click the link below to download

http://www.iium.edu.my/enmjournal/vol1no1.pdf

Volume 1 Number 2  – July 1988 – 78 pages

• Towards an Islamic Financial System by Dr M Umer Chapra
• Commodity Exchange and Stock Exchange in an Islamic Economy by Muhammad Akram Khan
• Comments on Muhmmad Akram Khan’s “Commodity Exchange and Stock Exchange in an Islamic Economy” by Syed Abd. Jabbar Bin Shahabudin

Click the link below to download

http://www.iium.edu.my/enmjournal/vol1no2.pdf

Volume 2 Number 1 – January 1989 – 69 Pages

• Zakat: Unresolved Issues in the Contemporary Fiqh by Dr Monzer Kahf
• Islamic Banking at the Crossroads by Dr Ziauddin Ahmad
• Factor Pricing and Income Distribution from an Islamic Perspective by Dr A H M Sadeq

Click the link below to download

http://www.iium.edu.my/enmjournal/vol2no1.pdf

Volume 2, Number 2-  July 1989 – 58 Pages

• Islamic Banking in Malaysia: Framework, Performance and Lessons by Mohamed Ariff
• Rationality in Economic Theory: A Critical Appraisal by Syed Omar Syed Agil
• Toward a Theory of Aggregate Output, Income and Economic inequalities determination in an Islamic Economy by Sayyid Tahir
• Welfare implications of Interest-free Bank Asset Management by Saiful Azhar Rosly
• An evaluation of the counter loan concept for interest-free Banking by Muhammad Anwar

Click the link below to download

http://www.iium.edu.my/enmjournal/vol2no2.pdf

Volume 3 No.1 – January 1993 – 82 Pages

• On Muslim Consumer Behaviour: A mathematical set-up
  by Boualem Bendjilali
• Islamic Criteria for the Distribution of Tax Burden: The mix of direct and indirect taxes and the offsetting function of Zakat by S M Hasanuz Zaman
• The Economic Implications of Crime: Case study on the Malaysian public expenditures on the criminal-justice system by Ahamed Kameel Mydin Meera
• Economic Thoughts of Ibn Khaldun by Sule Ahmed Gusau

Click the link below to download

http://www.iium.edu.my/enmjournal/vol3no1.pdf

Volume 3 Number 2, January 1995  – 110 Pages

• Market Mechanism in Islam: A Historical Perspective by Abdul Azim Islahi
• Islam and the Problem of Economic Justice by Fazlur Rahman
• Economic Principles in Islam: Some Methodological Issues by Saiful Azhar Rosly
• Economic Development in Islamic perspective: Concept, Objectivbes, and some issues by Zubair Hasan

Click the link below to download

http://www.iium.edu.my/enmjournal/vol3no2.pdf

Volume 4 Number 1 & 2 – July 1996 – 76 pages

• Socio-Politico-Economic Sovereignty and the Market of Medina by Cengiz Kallek
• Financing Socioeconomic Development with Zakat Funds by Muhammad Anwar
• Conventional versus Mudarabah Financing: An Agency cost perspectivy by Obiyathullah Ismath Bacha
• Review Article – Chapra: Islamic and Economic Development by Zubai Hasan

Click the link below to download

http://www.iium.edu.my/enmjournal/vol4no1&2.pdf

Volume 5 Number 1  – 1997 – 103 pages

• Real Estate Market in ‘Asr al Sa’adah’ by Cengiz Kallek
• Islam, the Islamic Worldview and Islamic Economics by Mohamed Aslam Mohamed haneef
• Potential effects of Zakat on Government Budge by Monzer Kahf
• A Survey of Management from an Islamic Perspectivy by M Saeed, N Jabnoun and M Shamma

Click the link below to download

http://www.iium.edu.my/enmjournal/vol5no1.pdf

Volume 5 Number 2  – 1997 – 113 pages

• Fulfilment of Basic Needs: Concept, Mesurement and Muslim Countries’ Performance by Zubai Hasan
• Patterns and variations in State Manufacturing Productivity by Mansor H Ibrahim
• Mesurement of Total Factor Productivity for the Malaysian Rice Sector by Naziruddin Abdullah
• The Role of the Market in the Islamic Paradigm by Mohamed Ariff

Click the link below to download

http://www.iium.edu.my/enmjournal/vol5no2.pdf

Volume 6 Number 1  – 1998 – 127 pages

• Economic Views of Abu Ubayd by Cengiz Kallek
• An overview of Gender earnings differentials in Peninsular Malaysia by Latifah Mohad Nor
• Labour force attachment: Explaining Gender differences in earnings and employment by Selamah Abdullah Yusof
• Bayesian Estimations of a Simple simultaneous equation Model using Gibbs sampling by Mansor H Ibrahim
• The theory of the Economics of Islam (I) by Abdul Hamid Ahmad AbuSulayman

Click the link below to download

http://www.iium.edu.my/enmjournal/vol6no1.pdf

Volume 6 Number 2  – 1998 – 119 pages

• Islamization of Knowledge in Economics: Issues and Agenda by Zubai Hasan
• Islamic Project Finance and Private Funding Schemes by Rodney Wilson
• Macroeconomic Instability, Financial Repression and Islamic Banking in Sudan by Adam B Elhiraika
• The Theory of the Economics of Islam (II) by AbdulHamid Ahmad AbuSulayman

Click the link below to download

http://www.iium.edu.my/enmjournal/vol6no2.pdf

ADVANCES IN ISLAMIC ECONOMICS AND FINANCE

ADVANCES IN ISLAMIC ECONOMICS AND FINANCE

volume 1

Proceedings of 6th International Conference on Islamic Economics and Finance – 545 Pages.

Edited by
Munawar Iqbal
IIIE, International Islamic University
Salman Syed Ali
Islamic Research and Training institute, IDB
Dadang Muljawan
Bank Indonesia

Islamic Development Bank
Islamic Research & Training Institute

click here to download the document

http://www.ses.ac.ir/files/takmili/islamic_econ./raveshshenasi_islam./230.pdf

Islamic Economics: A Survey of the Literature

Islamic Economics: A Survey of the
Literature
by Zaman, Asad
International Islamic University of Islamabad (IIUI)
June 2008

80 Pages

You can download this on the following link

http://mpra.ub.uni-muenchen.de/11024/1/MPRA_paper_11024.pdf

Introduction to Islamic Economics

Introduction to Islamic Economics

by by Mr. Hafiz MujeebBaig

a presentation slides in PDF form.

Click here to download
http://www.hhassociates.co.uk/docs/ICEIBF%20%281%29%20Introduction%20to%20Islamic%20Economics.pdf

ISLAMIC ECONOMICS

ISLAMIC ECONOMICS
A SHORT HISTORY
BY
AHMED A.F. EL-ASHKER
AND
RODNEY WILSON
LEIDEN • BOSTON
2006

471 Pages

THEMES IN ISLAMIC STUDIES
A (new) Brill Series including short histories and concise surveys of appealing themes in the field of Islamic and Arabic Studies The various titles give an accessible overview of a specific aspect or topic. Scholars and graduate students find in this series easy reference tools to current subjects in Islamic history and culture. Several titles are edited compilations of articles from the Encyclopaedia of Islam (second edition).

To download this book, click here

http://www.bandung2.co.uk/Books/Files/Economics/Islamic%20Economics%20%28A%20Short%20History%29.pdf

The Ethical Rules for Research in Islamic Economics

The Ethical Rules for Research in Islamic Economics

By Dr. Monowar Hossain

Director, Economics Division
Institute of Hazrat Mohammad (SAW), Bangladesh

Click here to download the article

http://www.ihmsaw.org/resourcefiles/1261373030.The%20Ethical%20Rules%20of%20Research%20in%20Islamic%20Economics.pdf

Islamic Economics and the Islamic Subeconomy

Islamic Economics and the Islamic Subeconomy
by Timur Kuran

Journal of Economic Perspectives-Volume 9, Number 4-Fall 1995-Pages 155-173

American Economic Association is collaborating with JSTOR to digitize, preserve and extend access to The
Journal of Economic Perspectives.

Download the article here

http://econ.duke.edu/uploads/assets/People/Kuran/Islamic%20economics%20and%20Islamic%20subeconomy.pdf

Relevance Definition and methodology of Islamic Economics

Relevance Definition and methodology of Islamic Economics
by Monzer Kahf

Click here to download the article

http://monzer.kahf.com/papers/english/methodology_malaysia.pdf

A note on Islamic Economics

A note on Islamic Economics by Abbas Mirakhor – 2007

Download the article here

http://i-sie.org/download/note%20on%20islamic%20economics%20Abbas%20Mirakhore.pdf

World Financial Crisis : Lesson from Islamic Economics

World Financial Crisis :
Lesson from Islamic Economics
By Dr. M. Fahim Khan
fahim@riphah.edu.pk , mfahimkhan@gmail.com
Chairman, Riphah Center of Islamic Business,
Riphah International University, Islamabad
And
President,
Islamic Society for Institutional Economics
http://www.i-sie.org

Download the article here

http://www.isdbforum.org/Subjects/Islam_and_the_Financial_Crisis/fahim.pdf

Islamic Economics and Economic Development

Islamic Economics and Economic Development
by Kjetil Bjorvatn

FORUM FOR DEVELOPMENT STUDIES
NO. 2 − 1998

click here to download the article

http://www.globalwebpost.com/farooqm/study_res/i_econ_fin/bjorvatn_islamic_econ.pdf

Definition of Islamic Economics

by S. M. Hasanuz Zaman
Chief, Islamic Economic Division
State Bank of Pakistan, Pakistan
One way of defining Islamic economics is to qualify the term modern economics with Islam, viz. Islamic economics is `the study of economics in the light of Islamic principles’, or `bringing economics in consonance with the Shari’ah’. But this would
imply that the definition of the science of economics has a universal acceptability which it does not.
Another way of defining Islamic economics would be to  accommodate the latest and the least criticised definition of economics and qualify it with Islam. For example, if we accept Robbins’ definition of economics, we could define Islamic economics as `a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses, in the light of the Shari’ah’.

to read the full article, Please click the link below

http://islamiccenter.kau.edu.sa/arabic/Magallah/Pdf/Old-1-2/SMZaman_16.pdf

ISLAMIC ECONOMICS, what Went Wrong?

ISLAMIC ECONOMICS, what Went Wrong?
Monzer Kahf

Click to access ISLAMIC_ECONOMICS_what_went_wrong_SEPT_03_IRTI.pdf

Interesting blog on Economics

Statistical and other References

 

ISLAMIC ECONOMICS -EUCLID Standardized Course Syllabus

COURSE DESCRIPTION:
This module offers an overview of Islamic Economics based on IRTI publications which can be considered as references in this field. The publications listed below as reading assignments are available at:

What is Islamic Economics ?
by Mohammad Umar Chapra

The Islamic Vision of Development in the Light
of the Maqasid Al-Shari’ah
by Mohammad Umar Chapra
Lessons in Islamic Economics
by Monzer Kahf

Lectures on Islamic Economics
by Ausaf Ahmad, Kazim Awan

Theoretical Foundations of Islamic Economics
by Habib Ahmed
A Note on Islamic Economics
by Abbas Mirakhor

COURSE OBJECTIVES & LEARNING OUTCOME
At the end of this course, the student will understand the following
concepts and be able to express them clearly, with the ability to show their interconnection:
􀀻 Principles of Islamic Economics
􀀻 Difference between Western and Islamic Economics
􀀻 Applications, Challenges, current Developments
􀀻 Key terms used in Islamic Economics

MAIN / REQUIRED TEXT(S) AND COURSEWARE:
See above for a list of required textbooks +
Please also consult your instructor to see what recent MP3 lectures or publication may be added as required assignments.

PAPER AND FINAL GRADE:
This course requires the presentation of two 6-14 page papers on a theme of the student’s choice based on a particular lecture or section in the assigned resources listed above. The theme must be discussed with and approved by the instructor.
􀀹 40% of the final grade is based on the paper.
􀀹 60% of the final grade is based on the final oral exam / closing interview

ISLAMIC ECONOMICS: THE EMERGENCE OF A NEW PARADIGM

ISLAMIC ECONOMICS: THE EMERGENCE OF A NEW PARADIGM
by John R. Presley and John G. Sessions – 2002

Western economists have been somewhat remiss in the last decade in failing to recognise what has the appearance of a new paradigm in economics – that of Islamic economics. This neglect is not surprising: most of the sophisticated literature on the subject is published in Muslim countries and is not, therefore, easily available to western economists. There is now, nevertheless, sufficient momentum behind the development of Islamic economics for it to be taken very seriously. This paper, therefore, has the primary objective of stimulating interest in Islamic economics in the hope that it will encourage the recognition in Western literature of
this ‘new’ paradigm and lead to contributions to its evolution from economists of all persuasions.
Click the link below to download

http://staff.bath.ac.uk/ecsjgs/Research/Islam/economic%20journal/ejpaper.pdf

Islamic Economics: The state of the Art

Islamic Economics: The state of the Art by Muhammad Akram Khan

This paper is intended to achieve three objectives: 1) To discuss in board terms, the issues and methodology of Islamic economics as it eiists today: 2) To point out deficiencies in the contemporary literature on Islamic economics and 3) To suggest a plan for further research

Click the link below to download (20 pages)

http://i-epistemology.net/attachments/530_IOD%20-%20VII%20-%20Islamic%20Economics%20-%20The%20State%20of%20the%20Art.pdf

Revolutionary Surge and Quiet Demise of Islamic Economics in Iran

Revolutionary Surge and Quiet Demise of Islamic Economics in Iran
by Sohrab Behdad, Denison University – October 2005

This preliminary draft served as the basis for Professor Behdad’s Oct. 4, 2005, talk at UCLA, sponsored by the Center for Near Eastern Studies.

Click the link below to download

http://www.international.ucla.edu/cms/files/behdadtxt.pdf

CURRENT FINANCIAL CRISIS AND ISLAMIC ECONOMICS

CURRENT FINANCIAL CRISIS AND ISLAMIC ECONOMICS
by M N Siddiqi – October 2008

The current crisis emanating from US financial markets and spreading to other developed and fast developing countries like China, India and Brazil, is threatening a global meltdown leaving the entire world poorer and full of forebodings regarding future .It started as a credit crunch due to highly over-stretched leverage, was aggravated by the complexity of the products and reached its zenith due to moral failure generating conflicts of interest and mismatch between incentives of the various groups and individuals
involved in the saga.

Islamic economics stands for abolition of riba and maysir in financial
dealings as well as on a regard for the interest of others in one’s pursuit of material gains.

The purpose of this brief note is to examine the relevance of Islamic
economics today. Does it have a message for humanity insofar as its current financial problems are concerned?

Click the link below to download

http://www.philadelphia.edu.jo/courses/Markets/Files/Markets/B213.pdf