{"title":"Multiple Structural Breaks in Profit Share Rates of Participation Banks in Turkey: Are They Caused by the Recent Global Crises?","authors":"M. Erdaş","doi":"10.26414/a079","DOIUrl":"https://doi.org/10.26414/a079","url":null,"abstract":"The global crises not only affect the economy of the country in which they emerge but also spread to other countries. Economic growth and stability levels will inevitably be affected by these crises especially in developing countries. To this end, the aim of this study is to identify the multiple structural breaks in profit share rates by employing the methodology developed by Bai and Perron (1998, 2003a) and Liu et al. (1997). I used the monthly data covering the period 1998-2018 for the estimated structural break dates. The results of the analysis indicate that there is at least one breakpoint in the time series of the analysed profit share rates. The identified break dates obtained within the study confirm the periods affected by the global crises in 2000-2001 and 2007-2008. Under those results, it is revealed that the participation banks have been exposed to structural changes at various times and it may be emphasized that the profit share rates have become more deteriorated to changes in the global financial market.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"2014 1","pages":"91-125"},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88106492","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":"Tomáš Sedláček; Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street","authors":"Z. Orhan","doi":"10.26414/br183","DOIUrl":"https://doi.org/10.26414/br183","url":null,"abstract":"The author of the book in concern is Tomáš Sedláček. Born in 1977 in Prague, Sedláček is rather a young but well-known and talented Czech economist. He got his education from Prague University. One of his main successes is that at the age of twenty-four, he worked as an economic adviser to the former Czech president Václav Havec for two years. Then he became one of the members of the National Economic Council which is an advisory body to the Czech Prime Minister. He worked there also for two years. Currently he is the Chief Macroeconomic Strategist at the Československá obchodní banka (CSOB), a well-known commercial bank in Czechia. Additionally, he lectures at Charles University, and also writes as a columnist.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"90 1","pages":"153-159"},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84719309","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":"The Relationship between Participation Funds and Macroeconomic Variables: SVAR Analysis Approach","authors":"Yazuv Demirdogen, Fatih Kaplan","doi":"10.26414/a091","DOIUrl":"https://doi.org/10.26414/a091","url":null,"abstract":"Participation banks are in the same financial environment with the conventional banks, so the macro-economic variables are expected to affect the participation funds. The purpose of this study is to examine the relationship between participation funds and macroeconomic variables for Turkey. The relation between the total Turkish currency funds in participation banks and macroeconomic variables is examined using the weekly data series from 10th of July 2015 to 5th of November 2018 by applying VAR and SVAR analysis. The total amount of the deposits of participation banks, weighted average interest rates, Borsa Istanbul gold prices, deposit interest rates of conventional banks, M2 defined money supply and total foreign exchange reserves of Central Bank of the Turkish Republic and USD exchange rate data were used as the secondary data tools. As a result of the VAR analysis, it was found that the total deposits of Islamic banks are primarily affected by money supply and the quarterly deposit interest rates of conventional banks. The SVAR analysis on the basis of these variables reveals that there is a positive correlation between money supply and participation funds while the relation is negative with the quarterly deposit interest rates of conventional banks and the participation funds. According to these analyses, participation funds benefit from the expansionary monetary policy, however; the interest rate policy of conventional banks negatively affects the fund inflow of the Islamic banks.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"145 1","pages":"126-143"},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74351800","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":"Scholarship and Education in Islamic Law and Economics: The Challenges of Comparative Law (Fiqh al-Muqāran)","authors":"Necmettin Kızılkaya","doi":"10.26414/a188","DOIUrl":"https://doi.org/10.26414/a188","url":null,"abstract":": The method, which is commonly acknowledged in Islamic studies and education of Islamic sciences, is to examine knowledge through inter-madhhab approach. This approach traces its origins to the mid-19 th century and became widespread in the 20 th century. A critique of this method, which is almost undisputed today, needs to be done and what it has gained or lost should be examined. The disciplines, which have successfully guided the culture of Islamic civilization in a wide range of areas from law to politics, from economics to literature, and from art to philosophy, cannot provide solutions to the problems of humanity today, a fact that should be addressed. This consequence leads us to the question of how the education of Islamic law is practiced, or how knowledge of Islamic law is produced. So, my point of departure will be this question. Since Islamic economics is also taught or practiced through Islamic law, I will use it as my sample. I will deal with the current situation, and then I focus on the question of what happened in the 20 th century that led Muslim scholars to adopt a new method to study and teach Islamic sciences and economics. In doing so, I will question whether there has been such an approach in past centuries, and I will examine whether this new method has been successful or not. Finally, I will focus on an alternative method. Although it is difficult to do all of these in a short paper, I will try to emphasize the crucial points of the issue.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"74 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79976094","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":"Elevating Human Development in Muslim Countries: Need Fulfillment versus Basic Income Provision","authors":"Z. Hasan","doi":"10.26414/a138","DOIUrl":"https://doi.org/10.26414/a138","url":null,"abstract":"","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"73 1","pages":"1-16"},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83212217","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":"The Relevance of Ibn Khaldun’s Economic Thought in the Contemporary World","authors":"S. K. Rizkiah, A. Chachi","doi":"10.26414/a074","DOIUrl":"https://doi.org/10.26414/a074","url":null,"abstract":"Ibn Khaldun’s economic thought, in his phenomenal book Al-Muqaddimah (The Prolegomenon), has been the subject of interest for many social scientists, including some economists of our era. He is considered to be among the early Muslim scholars, who wrote about the fundamental theories of economic science, three centuries before Adam Smith, who is widely regarded as the ‘father of economics’. However, six hundred years after Ibn Khaldun’s death, a question arises as to whether his economic thoughts are still relevant in the contemporary world. This paper attempts to analyse some of the main economic theories of Ibn Khaldun and reviews whether they are still relevant or being discussed in the modern economic theory or applied in the economic practice. The study found that from amongst the six main economic thoughts, he wrote about in his book, Al-Muqaddimah, almost all are still widely used and practiced. However, his theory on money needs more deliberate research and further investigation, as the world has long replaced gold and silver money with fiat money and other kinds of currencies such as cryptocurrencies, which were not known at his time.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"6 1","pages":"70-90"},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74393818","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":"Sezai Karakoc; İslam Toplumunun Ekonomik Strüktürü (The Economic Structure of the Islamic Society)","authors":"Murat Yulek","doi":"10.26414/br182","DOIUrl":"https://doi.org/10.26414/br182","url":null,"abstract":"This is a review essay on Sezai Karakoc’s treatise İslam Toplumunun Ekonomik Strüktürü (The Economic Structure of the Islamic Society) that was first published in 1967 in Turkish by Ötüken Neşriyat. Subsequently, more than ten editions were published in the same language by Diriliş Yayınları. It is generally acknowledged to be among the most important works written in the Republican era on the economic philosophy of Islam authored by a non-academic.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"21 1","pages":""},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81320566","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":"Adam Hanieh; Money, Markets, and Monarchies: The Gulf Cooperation Council and the Political Economy of the Contemporary Middle East","authors":"Erhan Akkas","doi":"10.26414/br189","DOIUrl":"https://doi.org/10.26414/br189","url":null,"abstract":"","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"1 1","pages":"160-165"},"PeriodicalIF":0.3,"publicationDate":"2020-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90380999","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}
D. Razak, Mohamed Zakaria Fodol, Ahmed Abdilahi Jama, A. Burhan
{"title":"Service Quality in Malaysian Islamic Banks: An Empirical Study","authors":"D. Razak, Mohamed Zakaria Fodol, Ahmed Abdilahi Jama, A. Burhan","doi":"10.26414/a068","DOIUrl":"https://doi.org/10.26414/a068","url":null,"abstract":"Service quality is an important and effective tool for banks to achieve customer satisfaction and earn their loyalty, especially under intense competition. Indeed, there is a strong competition between Islamic banks in Malaysia whereby each practitioner is working hard to satisfy their customers’ needs for service excellence. There are few studies that have included Shariah compliance with five other variables namely tangibles, reliability, responsiveness, assurance and empathy known as CARTER model however, majority of these studies have not been conducted for Malaysia. The few studies that were conducted for Malaysia used only descriptive statistics and their sample sizes were small. Hence, this study addresses this gap by conducting the survey in Klang valley region which includes Kuala Lumpur, Gombak and Shah Alam. The method was carried out by conducting a survey of 300 respondents. Data is analyzed using factor analysis and multiple regressions to measure the relationship between the variables. The results indicated that compliance, reliability, and empathy have a positive relationship with customer satisfaction and are significant while assurance, tangibility, and responsiveness are insignificant. Hence, practitioners can emphasize on the three significant factors in improving their service quality. The academicians can benefit by conducting further research into this body of knowledge.","PeriodicalId":53787,"journal":{"name":"Turkish Journal of Islamic Economics-TUJISE","volume":"9 2 1","pages":"13-42"},"PeriodicalIF":0.3,"publicationDate":"2020-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83781926","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}