Islamic Finance

This thesis examines the ideological and theoretical underpinnings of post-revolutionary Iran, in particular, the revolutionary government's policies based on Islamization of economic thought. Private property rights and the liberal and radical ideology of the state are considered, together with questions regarding the limits to legitimately acquired private property and limited economic role of the state. Specifically, the issue of 'distributive equity' through public ownership and limited ownership of private land and capital are detailed.

The author attempts to define the role of Islamic banking in the Egyptian development process by posing questions related to the practices of Islamic banks versus interest-based banks; the impact of Islamic banks on economic development; and the comparative advantages of the structure of Islamic banks compared with traditional banks and each system's ability to attract savings and efficiently allocate its funds. The performance of Islamic banks during 1979 to 1988 is examined.

The author's aim is to interpret Islamic economics within the context of mainstream economic theory, and he notes that Islamic revivalism fosters Islamic economics. He then cites the monitoring of immoral economic activities as legislatively costly, which may reflect a morality loss and undermine the work of the free market mechanism. Thus the author believes that institutionalizing and reinforcing practical morality and ethical values in economic transactions would move toward perfecting free market operations.

This thesis focuses on the subject of profit and loss sharing (

This dissertation presents an income determination model for income-sharing investment companies in Islamic countries, and utilizes a literature review of economic and accounting theories. Techniques used for measurement, allocation, and distribution of income were obtained in a field study of four income sharing firms. Investment institutions that are comparable to income sharing firms were also studied, and mutual funds and real estate investment trusts were reviewed to illustrate some of the problems facing income sharing firms.

The study examines the primary business institutions in Islamic society. The study's secondary purpose is to portray a general design of Islamic economy and to develop some alternatives and instruments for restructuring the existing business institutions according to Islamic principles. The author completes an analytical review of literature and a brief survey of expert opinions. The author also uses the writings and ideas of contemporary Islamic thinkers which he then employed to create models and instruments applicable to Islamic society.

This thesis discusses legal aspects of banking regulation in Egypt. Since 1991, Egypt's banking regulatory system has undergone significant changes, primarily in response to an economic reform program initiated along with international financial organizations. This thesis examines how banking regulations currently operate and what role the Central Bank of Egypt plays in these regulations. When these regulatory changes were developed, Egypt's particular circumstances were not properly accounted for.

This study addresses the practical and theoretical aspects of teaching economics through methods including integration and Islamization of Knowledge. The study first gathers Business distance-learning students' perceptions, approaches, and outcomes of learning (integrated economics) induced by the teaching design of University Technology MARA (UniTM) distance learning program. Three learning variables are then related to the effects of differences in students' characteristics and groupings.

This thesis investigates how credit markets function under asymmetric information. The use of collateral and the effects of usury laws are explored in greater detail. Following an introduction, the first two chapters explore potential reasons for the use of collateral and evaluate contemporary justifications on the basis of empirical evidence. The thesis develops a model of the credit market in which there exists asymmetric information about the borrowers' risk attitude, and finds that the features of equilibrium are in accordance with empirical evidence.

This study discusses prominent criticisms of Islamic economics and reactions to the topic from an approach that incorporates the differences between Muslim and Western-secular cultures.