{"title":"The Future of Islamic Finance after the Corona Crisis","authors":"Volker Nienhaus","doi":"10.33001/m010820201373","DOIUrl":"https://doi.org/10.33001/m010820201373","url":null,"abstract":"There is much literature on the consequences of the corona crisis for the financial system, but usually without a distinction between conventional and Islamic finance. This research focusses on behavioral changes and market developments in the financial and real economy that will impact Islamic finance differently than conventional finance due to its conceptual peculiarities and prevailing practices. Particular attention is given to the real estate and construction sector, the universe of Sharīʿah compliant stocks, and the consumer finance of Islamic retail banks. Through these channels, “the world” will have an impact on the future of Islamic finance. But the corona crisis has also reinforced calls for more responsible finance, and promotors of Islamic finance emphasize the ideal of risk-sharing as well as the distinct instruments of Islamic social finance for poverty alleviation and social cohesion. Particular attention is given to innovations in equity-like financing, green and socially responsible ṣukūk, digital approaches for Islamic microfinance, and the broader usage for Islamic social finance instruments (zakāt, qarḍ Hasan, [cash] waqf, sadaqat). Through these channels, a revised future Islamic finance may have an impact on the world.","PeriodicalId":193042,"journal":{"name":"Bait Al Mashura Journal","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116842570","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"TRADABLE AND NON-TRADABLE RIGHT FROM ISLAMIC LAW OF CONTRACTS PERSPECTIVE","authors":"M. Ziaurrahman","doi":"10.33001/m011020191163","DOIUrl":"https://doi.org/10.33001/m011020191163","url":null,"abstract":"Islam advocates the protection of all types of Rights. However, each and every type of Right is not directly regulated by Shari’ah (Islamic Law) while the principles of Shari’ah can be construed to provide support for such regulation and protection. To the best of our knowledge, there is no such paper which efficiently talks about the tradable and non-tradable Rights from Islamic Law of Contracts Perspective as such that it provides a framework to evaluate different types of Rights for their permissibility of being subject matter of contract. This paper attempts to address this issue by using library research method (Qualitative Assessment) whereby, data is collected from books, articles, etc. Inductive and deductive methods are used for formulation of arguments and for providing justifications. The findings of this study suggest that not every Right shall be considered subject matter of contract. Furthermore, there are Rights that are specifically granted to the holder and they are not transferable, Rights that are allowed to be sold for a price, Rights that are not allowed to be sold but can be subject of sulh (compromise) / tanazul (waiver), and Rights that are allowed and sometimes not allowed to be inherited. Keywords: Rights in Islam, Sale of Rights, Intellectual property Rights","PeriodicalId":193042,"journal":{"name":"Bait Al Mashura Journal","volume":" 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120833301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financial and Banking Inclusion Gap in the Arab Economies With a Particular Reference to the Arab-Islamic Banking Sector","authors":"Abdelhalim Gharbia","doi":"10.33001/m020420191052","DOIUrl":"https://doi.org/10.33001/m020420191052","url":null,"abstract":"تهدف هذه الورقة البحثية إلى استعراض مفهوم الشمول المالي والمصرفي منمنظور البنوك المركزية العربية والهيئات الإقليمية ذات العلاقة، وتحديد الحواجز والعقبات التي تحول دون تحقيق تقدُّم كبير في توسيع نطاق شمولية الخدمات المالية الإسلامية في الاقتصادات العربية.كما تستخدم هذه الورقة قاعدة بيانات الشمول المالي العالمي للبنك الدولي على أساس قُطري؛ للوقوف بشكل تفصيلي على واقع الشمول المالي والمصرفي فيالاقتصادات العربية، وسدّ الفجوة بين العرض والطّلب على المنتجات المالية والمصرفية. ختاماً؛ تقدِّم هذه الورقة اقتراحات للبنوك المركزية العربية لوضع إستراتيجيات وطنية للشمول المالي والمصرفي تهدف إلى تعزيز مشاركة كافّة الشّائح السكانية في القطاع المالي الرسمي بصورة عادلة وشفّافة ومسؤولة.","PeriodicalId":193042,"journal":{"name":"Bait Al Mashura Journal","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129807208","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Legal Framework For Shariah Compliance of Moroccan Islamic Banks","authors":"A. Mechkour","doi":"10.33001/m300420180946","DOIUrl":"https://doi.org/10.33001/m300420180946","url":null,"abstract":"The study aims at verifying the extent of Islamic sovereign Sukuk’s ability to achieve economic stability through financing the public budget. The study is based on the hypothesis that there is a relationship between sovereign Islamic Sukuk and reducing economic problems. The study used the descriptive approach in which, the study discussed the components of the public budget and studying its effect on economic problems. The study showed that the use of Sukuk in savings mobilization to finance the public budget deficit could influence two important factors; the first is on the amount of money in circulation, the second is on the Economic Phenomena. The study concluded that the use of sukuk in the savings mobilization to finance the public budget affects the amount of money in circulation, and the Economic Phenomena.The study recommends the use of Sukuk Al- Musharakah in times when the economy is in need to the expansion of the amount of money in circulation,","PeriodicalId":193042,"journal":{"name":"Bait Al Mashura Journal","volume":"30 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113989432","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}