Explore the vast range of titles available.

الحمد لله رب العالمين ، والصلاة والسلام على نبينا محمد ، وعلى آله و صحبه أجمعين، وبعد: ‏.فإن إرادة الله تعالى وحكمته اقتضت أن يجعل الإنسان اجتماعيا بطبعه، لا ‏يستقل عن الآخرين ولا يستغني عنهم. وهذا الاجتماع قد ينشأ عنه خلافا‏ت بين الناس وعداوات ، وقد يقع معه ظلم من فئة لأخرى، كما هو شأن الجماعات البشرية دائما، وهناك أعمال وأمور تحتاج إلى أهلية وصلاحية لإقامتها لدفع أضرار الفوضى، ولذلك كان لا بد من هيئة أو سلطة تقوم بتدبير أمور الناس، و تمنع الظلم والعدوان، وتؤدي الحقوق إلى أصحابها، وتمنع الفوضى. وقد تطورت هذه الهيئة أو السلطة حتى ظهرت بصورة (دولة) بالمفهوم المعاصر. ‏فالدولة تعتبر مرحلة من مراحل تطور البشرية في طريق التنظيم، وهي ليست غاية في ذاتها، وإنما هي وسيلة لتحقيق غاية هي إسعاد البشرية، والقيام على النظام ء واستقرار أحوال الناس في الدنيا، و العمل على الالتزام بالنظام أو الشرع. ‏والدولة الحديثة ليست المرجلة الأولى لتطور البشرية، فقد انتظم الأفراد قبل وجود الدولة في مجتمعات سياسية، كالقبيلة والشعب والإمبراطوريات والممالك الإقطاعية ونحوها من الأشكال التنظيمية.

الحمد لله رب العالمين ، والصلاة والسلام على نبينا محمد ، وعلى آله و صحبه أجمعين، وبعد: ‏.فإن إرادة الله تعالى وحكمته اقتضت أن يجعل الإنسان اجتماعيا بطبعه، لا ‏يستقل عن الآخرين ولا يستغني عنهم. وهذا الاجتماع قد ينشأ عنه خلافا‏ت بين الناس وعداوات ، وقد يقع معه ظلم من فئة لأخرى، كما هو شأن الجماعات البشرية دائما، وهناك أعمال وأمور تحتاج إلى أهلية وصلاحية لإقامتها لدفع أضرار الفوضى، ولذلك كان لا بد من هيئة أو سلطة تقوم بتدبير أمور الناس، و تمنع الظلم والعدوان، وتؤدي الحقوق إلى أصحابها، وتمنع الفوضى. وقد تطورت هذه الهيئة أو السلطة حتى ظهرت بصورة (دولة) بالمفهوم المعاصر. ‏فالدولة تعتبر مرحلة من مراحل تطور البشرية في طريق التنظيم، وهي ليست غاية في ذاتها، وإنما هي وسيلة لتحقيق غاية هي إسعاد البشرية، والقيام على النظام ء واستقرار أحوال الناس في الدنيا، و العمل على الالتزام بالنظام أو الشرع. ‏والدولة الحديثة ليست المرجلة الأولى لتطور البشرية، فقد انتظم الأفراد قبل وجود الدولة في مجتمعات سياسية، كالقبيلة والشعب والإمبراطوريات والممالك الإقطاعية ونحوها من الأشكال التنظيمية.

This paper discusses the great importance of the monetary question, and briefly examines some of the dominant erroneous concepts of money and their effects upon societies. It also points and links to the great progress currently being made by researchers in this field, so readers can examine them more fully. It presents very brief summaries of what some of the important new papers do. It also aims at helping instructors in outlining a reading curriculum to assist in a long overdue understanding of money power. Finally, the paper presents a money and banking system proposal which has evolved since the Great Depression of the 1930s, and is now ready for implementation and has even been introduced as potential legislation into the United States Congress.

This paper provides a critical review of the Islamic Economics (IEs) and Finance (IF) literature that have examined the stability of the Islamic Financial System (IFS) and its institutions vis-à-vis the conventional interest-based system. The paper analyzes forty studies over the last thirty-year period (1983- 2013). Two sub-periods: pre-and post-subprime financial crisis are compared. The pre-crisis period focuses on theoretical investigations while the post-crisis focuses on empirical research. The results show that the crisis seems to have triggered more attention to the stability of IF. Seventy five percent of the reviewed literature has been carried out in the post-crisis era; about five studies have been produced per year during the last five years (2008-2013) in contrast to less than one study per year in its antecedent period. In addition, Z-score indicator has come out as the most commonly used proxy for measuring the stability of Islamic financial intermediaries. The results also show that there is a significant divergence between the theory and practice of IF. Theoretical studies claim the 'superiority' of the IFS based primarily on equity and participatory modes of financing, while empirical studies are not yet conclusive

Islamic economics started as a challenge and a fundamental critique of conventional economics, and the ambition of most Islamic economists of the first generation was the replacement of mainstream economics by a new paradigm based on or at least consistent with comprehensive Islamic worldview. It is questionable whether this goal has been achieved. A growing volume of literature with an ,,Islamic economics\" label follows the same quantitative approach and differs from mainstream only in so far as it deals with phenomena in Muslim countries, especially with aspects of Sharī,,ahcompliant banking and finance. Such studies of economic issues from an Islamic perspective are deeply rooted in conventional economics and lack the systemic or holistic dimension which is indispensable for the establishment of a new paradigm for a science of Islamic economics. Islamic economics as an autonomous discipline requires a systemic orientation, and it is conceptually inextricably linked with Islamic theology and law. However, the necessary intellectual interaction between economists and Sharī,,ah scholars is deficient. While Islamic economists had come forward with models of a financial system based on participatory modes of finance and widespread risk-sharing, many scholars of Islamic law were more concerned with the replication of conventional instruments for risk-free fixed-return transactions or with Sharī,,ahcompliant derivatives. Their efforts have moved Islamic finance closer to the conventional status quo and further away from an alternative system of financial intermediation. This did not contribute to the development of a new paradigm of Islamic economics, but this process is reversible.

Over the past few decades, the Islamic finance industry has witnessed exponential growth, intensified innovation and fast development in its products and services. This paper discusses the contemporary issues of credit cards from economic and Sharīʿah perspective and explains the implication of an optional interest clause. Islamic finance providers have experimented with different structures for Islamic credit cards, which, however, have attracted wide-reaching criticism regarding the underlying contracts and whether the concept in itself is in line with the Sharīʿah. From an analysis of the different market practices of Islamic credit cards, we notice that Islamic banks are struggling to find an appropriate approach to provide an Islamic credit card facility which is profitable and meets their financial intermediary purpose. We then propose the concept of prepaid Islamic credit cards and the idea of Master Murābaḥah Credit Card Agreement which would be more suitable and generate Sharīʿah-compliant returns. This paper also tackles the issue of consumerism and mounting indebtedness from the Sharīʿah perspective, and calls for restrictions and control by Islamic credit card issuers including limiting credits and blocking non-Sharīʿah compliant usages.

The purpose of this paper is to analyze the implementation of Shari ah values in Islamic banks operating in Indonesia. The research uses survey data taken from 240 respondents from types of Islamic banks operating in Indonesia. These consist of three full-fledged Islamic banks namely, subsidiaries of state-owned and private conventional banks and the Islamic business unit of a conventional bank. Each Islamic banks survey respondents represented 30 employees and 30 customers. The results of the study show that in general there are differences in the implementation of Shari'ah values among Islamic banks. Our findings also show different perceptions between Islamic bank employees and customers in terms of Shari'ah value implementation in the respective banks. From the four Shari'ah principles measured, justice was found to have the lowest score compared to other principles such as brotherhood, benefit and balance.

There has been a misleading revival of an old precept in Islamic finance - 'no risk, no gain'- in the wake of the global financial crisis that started with the 2007 sub-prime debacle in the US. The recent proponents of the precept argue that the basic reason for the recurrence of such crises is the interest based conventional system of financing because it subsists solely on the transference of risks to counterparties. In contrast, Islam shuns interest and promotes only the sharing of risks, not their transfer. The distinction is used to make a case for replacing the conventional system with the Islamic; for that alone is thought of as the way to ensuring the establishment of a just and stable crisis free economic system. Empirics contending that Islamic banks have faced the current crisis better than the conventional are cited as the supporting evidence. The present paper refutes this line of argumentation and questions its basis and contentions.