This work reports an investigation which assessed the application, or overlooking, of the Islamic ideas of banking in Islamic banks in different societies. The focus was on three banks: Al-Baraka International Bank Limited in London, Jordan Islamic Bank in Jordan, and Al-Baraka Turkish Finance House in Turkey. These banks operate in a non-Islamic country, an Islamic country, and a secular country with a mostly
The creation of an Islamic bank in Malaysia illustrates another example of supply-following economic policies that the Central Bank (Bank Negara) has implemented to promote financial development. The supply-leading policy follows from the concept that active government development of the financial system will stimulate economic growth. The savings generated from deposits to Bank
This thesis focuses on the works of Muhammad Baqer as-Sadr pertaining to Islamic law. As background, the debate between the Akhbari and the Usuli schools of thought with regards to constitutional law in the 18th century is analyzed. Sadr's constitutional model for Iran, proposed in 1979, is examined, as are further constitutional law developments in the decade following the revolution.
This thesis examines the theory and principles of profit-sharing in the Islamic system of finance, and compares it to similar practices within non-Islamic systems. The initial chapters highlight the methodology and objectives of the work, and offer rationales for the existence of profit-sharing, the use of interest rates fixed in advance, and the rejection of riba .
This thesis identifies the principal laws governing economic behavior of individuals and the source of Islamic economic theory as found in the Qur'an. The thesis is divided into six sections thematically.
The work explores the rationale and underlying principles of the Islamic concept of profit-sharing. Using concepts originating both in and out of
This thesis examines the economics of international lending and borrowing, and explores the effects of economic crises on the world system resulting in loan defaults and debt rescheduling. In particular, the thesis examines the growth of the debt crisis in the 1980's and how developing countries have had to cope with the burden of debt repayments. The Western use of interest rates in borrowing and lending is contrasted with the Islamic system on an ethical level.