Islamic Finance

Islamic economics has several contrasts with the capitalist and socialist systems. Among the issues that arise in a discussion of these economic systems are: the role of labor; a critique of capitalist institutions; instability in industry; the institution of interest; the dynamics of agricultural economics; and the distribution of wealth. Laissez-faire capitalism has failed to curb exploitation. Islamic economics has safeguards against instability that are not present in the entrepreneurial spirit of modern capitalism.

Though many foreign Islamic banks have come to London, few have been successfully able to tap the city's growing market for Islamic banking. There is still hope for Islamic banks, though. The Bank of England plans to consider applications to authorize Islamic financial institutions in England. Furthermore, many banks are interested in providing financial services based on Islamic principles. It is time for the larger banks to provide a truly competitive Islamic banking alternative.

To comprehend a society's economics, it is crucial to understand its political leadership and to have a grasp of that political leadership's goals. Leadership is of two types -- value-oriented and goal-oriented. Analogously, schemes may be 'high-road' or 'low-road'. The role of theory in economic planning and a paradigm of policy setup are of note. Political players act in a particular environment. Competing strategies have certain features of dynamics. Some networking among

If you're not part of the solution, you're part of the problem. The average American gave $286 in charity last year. American Muslims are far behind in the amount of charity they give. Muslims should donate their time in volunteer work and pay sadaqa (at the average rate of American charity) and zaka, which would sum to $1.03 billion.

Recipco is a private enterprise with purported goal of advocating private-public sector collaboration to advance innovation in economic theory and practice. Ricipco claims to offer Shari 'a compliant means by which to efficiently mobilize and increase capacity and working capital within the Islamic community.

The issues of the acquisition of credit and the procurement of capital required to complete projects once interest is removed are at the core of Islamic banking. Several scenarios depict how Islamic banks could supply large sums of capital. For a revenue-yielding project like a power plant, shirka (partnership) can be used and the revenue divided.

Interest is a key element in modern banking. Typically, the longer one forsakes one's liquidity -- the longer one commits one's money -- the greater the interest returned. The Qur'an prohibits interest with clarity.

The modern Islamic banking movement is a movement against a system inconsistent with the shari'a. Historically, Muslims had a heavy influence on the development of Europe. The idea of checks and the concept of pay slips came from