The majority of Muslim countries, classified as low or middle-income groups, suffer from poverty and face severe challenges in economic development.
This paper aims to propose a liquidity management solution for Islamic financial institutions (IFIs) that concurs with sustainable development and financial stability. Design/methodology/approach: The study is a qualitative research. It uses the exploratory research methodology, specifically the content analysis approach, to gather primary data and identify and interpret relevant secondary data and Sharīʿah concepts. The purpose is to develop a liquidity management solution for IFIs.
This paper investigates the impact of remittance inflows on economic growth and poverty reduction for seven African countries using annual data from 1992-2010. By using the depth of hunger as a proxy for poverty in a Simultaneous Equation Model (SEM), we find that remittances have statistically significant growth-enhancing and poverty-reducing impact. Drawing on our estimates, we conclude that the financial development level significantly increases the remittances inflows and strengthens poverty alleviating impact of remittances.
فرض ظهور العملات الرقمية المشفرة تحديات جديدة على فقه الاقتصاد الإسلامي، فقد شاع الاتجار والتعامل بهذه العملات في الآونة الأخيرة على نحو يستدعي بيان الحكم الشرعي فيها. وبيان الحكم الشرعي يستدعي فهم ماهية هذه العملات، وخصائصها، وأوجه التعامل بها، وأبعادها الإقتصادية. وتشمل أحكامها الشرعية تعامل الناس بها تداولا وتجارة، وما إذا كانت الشريعة تعترف بثمنيتها فتأخذ أحكام النقود، فتخضع لأحكام الربا الخاصة بالعملات وبالذهب والفضة.
Conventional (commercial) insurance involves an intolerable magnitude of gharar (uncertainty), and hence its prohibition in Shariah. In order to Islamize insurance, it needs to be reconstructed on different basis so that the inherent uncertainty associated with the concept of insurance will not invalidate its contracts.
We examine the interest rate sensitivity of both deposits and credits at Islamic and conventional banks in Turkey. We find that the bank lending channel is especially operative for Islamic banks. Impulse responses for conventional and Islamic banks reveal that Islamic bank depositors’ sensitivity to policy rate changes are substantially larger than that of conventional bank depositors.