al-Jarhi, Mabid Ali Muhammad Mahmud Islamic finance
Author
al-Jarhi, Mabid Ali Muhammad Mahmud
Source
ISRA International Journal of Islamic Finance
Issue
Vol. 9, Issue 2 (31 Dec. 2017), pp.117-132, 16 p.
Publisher
International Shari'ah Research Academy for Islamic Finance
Publication Date
2017-12-31
Country of Publication
Malaysia
No. of Pages
16
Main Subjects
Abstract EN
Purpose – This paper aims to provide an economic rationale for Islamic finance.
Design/methodology/approach – Its methodology is simple.
It starts with listing the contributions to economic analysis relevant to the required rationale in the theories of banking, finance, price, money and macroeconomics, to identify the main rationale for Islamic finance.
A concise description of the author’s model for an Islamic economic system, within which Islamic finance can be operational, is provided.
Findings – The paper finds distinct advantages of Islamic finance, when properly applied within the author’s model.
Islamic finance can therefore be a candidate as a reform agenda for conventional finance.
It opens the door for significant monetary reform in currently prevalent economic systems.
Research limitations/implications – The first limitation of the paper is that the distinct benefits of Islamic finance are all of macroeconomic types which are external to Islamic banking and finance institutions.
They are therefore not expected to motivate such institutions to apply Islamic finance to the letter, without regulators interference to ensure strict application.
The second limitation is the necessity to set up enabling institutional and regulatory arrangements for Islamic finance.
Originality/value – The results are unique as they challenge the received doctrine and provide nonreligious rationale for Islamic finance
American Psychological Association (APA)
al-Jarhi, Mabid Ali Muhammad Mahmud. 2017. al-Jarhi, Mabid Ali Muhammad Mahmud Islamic finance. ISRA International Journal of Islamic Finance،Vol. 9, no. 2, pp.117-132.
https://search.emarefa.net/detail/BIM-965106
Modern Language Association (MLA)
al-Jarhi, Mabid Ali Muhammad Mahmud. al-Jarhi, Mabid Ali Muhammad Mahmud Islamic finance. ISRA International Journal of Islamic Finance Vol. 9, no. 2 (2017), pp.117-132.
https://search.emarefa.net/detail/BIM-965106
American Medical Association (AMA)
al-Jarhi, Mabid Ali Muhammad Mahmud. al-Jarhi, Mabid Ali Muhammad Mahmud Islamic finance. ISRA International Journal of Islamic Finance. 2017. Vol. 9, no. 2, pp.117-132.
https://search.emarefa.net/detail/BIM-965106
Data Type
Journal Articles
Language
English
Notes
Text in English ; abstracts in .
Record ID
BIM-965106