saleem, shahid (2007): Role of Islamic banks in economic development.
This is the latest version of this item.
Download (272kB) | Preview
The purpose of this working paper is to give the real meaning of DEVELOPMENT from Islamic perspective. Most of Muslim countries are LDCs and using the religious and social ideology of Islam is very useful to establish institutions and to bring moral and ethical change for development in these countries. Islam appears to be the only dynamic religion and tells us about prevention of interest, similar to Christian and Jewish theologies. But at the same time gives a comprehensive setoff trade and financing modes, not easily and completely described in any other religion or social order. Even TFP, a modern concept for collective efficiency has been advised in Islam, shunning to self interest and individualism of materialistic economics. Some scholars of WEST consider use of Islamic banking more suitable for economic development, while others consider Islam as obstacle & threat to development of Muslim countries. I hope that the paper will be useful in this regard to provide another valuable theoretical dimension to this field of study………
|Item Type:||MPRA Paper|
|Original Title:||Role of Islamic banks in economic development|
|Keywords:||Islamic; Banking; Comparison; Pakistan; SHAHID; economic; development|
|Subjects:||E - Macroeconomics and Monetary Economics > E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
M - Business Administration and Business Economics; Marketing; Accounting > M2 - Business Economics
P - Economic Systems > P4 - Other Economic Systems
|Date Deposited:||25. Feb 2008 16:16|
|Last Modified:||10. Oct 2014 16:32|
• Saleem, Shahid, "International Islamic Banking" . Islamic Law and Law of the Muslim World Paper No. 07-05 Available at SSRN: http://ssrn.com/abstract=989065 • Bjorvatn, Kjetil (1998). Islamic Economics and Economic Development. FORUM FOR DEVELOPMENT STUDIES, NO. 2 − 1998. • Iqbal, M., & Ahmad. T. (2003). Islamic Finance and Economic Development. • Hasan, Z. (1995). Economic Development in Islamic Perspective: Concept, Objectives, and Some Issues. Journal of Islamic Economics 1(6), 80-111. • Ibrahim, Badr-El-Din A. (2003). Poverty Alleviation via Islamic Banking Finance to Micro-Enterprises (MEs) in Sudan: Some lessons for poor countries. Sudan Economy Research Group, University of Bremen, Germany and Economic Advisor to the Undersecretary for Financial Affairs, Ministry of Finance, Muscat, Sultanate of Oman. • Nienhaus, Volker. (2006). Islamic Economic System – A Threat to Development? • Khan, A., Qayyum, A. Sheikh,. S.A. (2005). Financial Development and Economic Growth: The Case of Pakistan. Pakistan Development Review 44 : 4 Part II (Winter 2005) pp. 819–837. • Ali, A. M. (2000). Islamic Development Bank & its role in financing projects. IEP-SAC seminar, Riyadh Saudi Arabia. • Saeed. Prof. Dr. K. A.: Islamic Banking Global & Pakistan scene, Pakistan & Gulf Economist, March 12-18, 2007: pp26. • Usmani., M. M. T.(2005) Introduction to Islamic finance. Karachi: Maktaba maariful Quran. • Divanna., J. A. (2006): Understanding Islamic Banking. • Personal interviews of local banker officers of DUBAI ISLAMIC BANK, ALFALAH ISLAMIC BANKING DIVISION, PRIME COMMERCIAL BANK ISLAMIC DIVISON in Lahore, PAKISTAN. • Imran. Muhammad: Head of Islamic Banking, standard Chartered Bank, Nov 17, 2005: “Islamic Banking Current Scenario and ahead” • WEBSITES of State Bank of Pakistan, Government of Pakistan, Islamic development Bank, Jeddah, • Anonymous. Islamic Financial Institutions. Retrieved December 24, 2007 from the World Wide Web: http://www.islamic-banking.com/ibanking/ifi_list.php • Anonymous. Islamic FinancelTerminology. Retrieved December 24, 2007 from the World Wide Web: http://www.scmodaraba.com/html/terminology.htm • Anonymous. Islamic Financial Institutions. Retrieved December 24, 2007 from the World Wide Web: http://www.islamic-banking.com/aom/shariah/mt_usmani.php • Bjorvatn, K.,(1996), Islamic economics in principle and practice, NHH Discussion Paper 6/96, Bergen: The Norwegian School of Economics and Business Administration. • Iqbal, Z. and A. Mirakhor, 1987, ‘Islamic banking’, IMF Occasional Paper No. 49, Washington D.C.: International Monetary Fund. • Khan, M. S. and A. Mirakhor, 1990, ‘Islamic banking: Experiences in the Islamic Republic of Iran and in Pakistan’, Economic Development and Cultural Change, Vol. 38, No. 2.
Available Versions of this Item
Role of Islamic banks in economic development. (deposited 25. Dec 2007 06:30)
- Role of Islamic banks in economic development. (deposited 25. Feb 2008 16:16) [Currently Displayed]