![](/images/graphics-bg.png)
Shariah-compliant investment funds : how does globalization restricted its social roles? the case of Saudi Arabia
Other Title(s)
صناديق الاستثمار المتوافقة مع أحكام الشريعة الإسلامية : كيف قيدت العولمة دورها الاجتماعي؟ دراسة حالة المملكة العربية السعودية
Joint Authors
al-Utaybi, Khalid Ubayd
Hariri, Muhammad Majdi
Source
Journal of Development and Economic Policies
Issue
Vol. 22, Issue 2 (31 Jul. 2020), pp.7-37, 31 p.
Publisher
Publication Date
2020-07-31
Country of Publication
Kuwait
No. of Pages
31
Main Subjects
Abstract EN
The main objective of this paper is to develop and report an in-depth insight of the effects of globalization on the role of Shariah-Compliant Investment Funds (SCIFs) in promoting social justice by interviewing key stakeholders.
The research critically evaluates the purposive role and characteristics of SCIFs in KSA.
It examines the role of the financial issues, investors, and regulators, relative to SCIFs and the effects of globalization.
The analysis identifies that the absence of social justice may be due to the global economic influence of the West, and its emphasis on financial returns, which has permeated through to SCIFs through globalization.
Interviewees did not link SCIF practices with social justice Islamic concepts even though they believed in the importance of social justice and, as a result, SCIFs are not achieving their social justice objectives, as shown from their screening criteria.
SCIFs should take advantage of globalization and avoid its negative impact.
Therefore, this paper has policy implications and provide recommendation to improve the practice of SCIFs in KSA toward achieving social justice.
American Psychological Association (APA)
al-Utaybi, Khalid Ubayd& Hariri, Muhammad Majdi. 2020. Shariah-compliant investment funds : how does globalization restricted its social roles? the case of Saudi Arabia. Journal of Development and Economic Policies،Vol. 22, no. 2, pp.7-37.
https://search.emarefa.net/detail/BIM-1262584
Modern Language Association (MLA)
al-Utaybi, Khalid Ubayd& Hariri, Muhammad Majdi. Shariah-compliant investment funds : how does globalization restricted its social roles? the case of Saudi Arabia. Journal of Development and Economic Policies Vol. 22, no. 2 (Jul. 2020), pp.7-37.
https://search.emarefa.net/detail/BIM-1262584
American Medical Association (AMA)
al-Utaybi, Khalid Ubayd& Hariri, Muhammad Majdi. Shariah-compliant investment funds : how does globalization restricted its social roles? the case of Saudi Arabia. Journal of Development and Economic Policies. 2020. Vol. 22, no. 2, pp.7-37.
https://search.emarefa.net/detail/BIM-1262584
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 32-37
Record ID
BIM-1262584