This paper analyses mass media exposure and its effect on family planning in Bangladesh using data from the Bangladesh Demographic and Health Survey (BDHS) 1993s place of residence, education, economic status, geographical region and number of living children appeared to be the most important variable determining mass media exposure to family planning. Multivariate analysis shows that both radio and TV exposure to family planning messages and ownership of a radio and TV have a significant effect on current use of family (...) planning methods. These factors remain significant determinants of contraceptive use, even after controlling socioeconomic and demographic factors. The study reveals that both socioeconomic development policies and family planning programmes with a special emphasis on mass media, especially radio, may have a significant effect on contraceptive use in Bangladesh. The principal policy challenge is to design communications strategies that will reach the less privileged, rural and illiterate people who are by far the majority in Bangladesh. (shrink)

In the 21st century, amid converging global political, social, and economic forces we are questioning the fundamental values we hold true, driven by an antagonism between different schools of philosophy--between left- and right-wing politics. This book provides a comprehensive analysis of western political philosophy and underlines the core principles of each argument. It then argues that neither have we solved nor do we have any pathway to eventually solve, the question of right and wrong--we are essentially moral relativists in disguise. (...) In order to break out of this cycle of uncertainty, the book proposes a solution of knowledge-based cognition: policy based on a concrete and proven understanding of an absolute and certain body of truths. This requires an analysis and blending of non-western political philosophical traditions, such as those espoused by Islam and Confucianism. This book gives an original critique of western political philosophy and is the first book to engage in a reconstruction of Islamic political philosophy." -- Back cover. (shrink)

Purpose Along with the various beneficial uses of artificial intelligence, there are various unsavory concomitants including the inscrutability of AI tools, the fragility of AI models under adversarial settings, the vulnerability of AI models to bias throughout their pipeline, the high planetary cost of running large AI models and the emergence of exploitative surveillance capitalism-based economic logic built on AI technology. This study aims to document these harms of AI technology and study how these technologies and their developers and users (...) can be made more accountable. Design/methodology/approach Due to the nature of the problem, a holistic, multi-pronged approach is required to understand and counter these potential harms. This paper identifies the rationale for urgently focusing on human-centered AI and provide an outlook of promising directions including technical proposals. Findings AI has the potential to benefit the entire society, but there remains an increased risk for vulnerable segments of society. This paper provides a general survey of the various approaches proposed in the literature to make AI technology more accountable. This paper reports that the development of ethical accountable AI design requires the confluence and collaboration of many fields and that lack of diversity is a problem plaguing the state of the art in AI. Originality/value This paper provides a timely synthesis of the various technosocial proposals in the literature spanning technical areas such as interpretable and explainable AI; algorithmic auditability; as well as policy-making challenges and efforts that can operationalize ethical AI and help in making AI accountable. This paper also identifies and shares promising future directions of research. (shrink)

Prior to his renewed incumbency, as the fourth Prime Minister ofMalaysia, Mahathir Mohamad was able to remain in power for amore prolonged period compared to his predecessors. He was actively involvedin galvanizing political action immediately after the independence of Malaysiaand did not abandon active politics until his 2003 resignation. Under Mahathir’sleadership and guidance, Malaysia made remarkable economic and politicalprogress. He oversaw many innovations in the fledgling democracy and wasable to develop the country due to his exceptional leadership qualities. His styleand (...) attitude towards engaging with problems, particularly his stance during theAsian Monetary Crisis in 1997, was highly criticized by some, and labelled asdictatorial. This stigma did not detract him from the path he considered rightfor Malaysia, and under his leadership he garnered worldwide appreciation forhis national efforts and success in overcoming the economic crisis. Mahathiris undeniably an excellent case study as a prime minister, as well as a highly productive person. He contributed to a better understanding of modernMalaysia and his own tenure as PM in a series of books and articles. One ofthe significant aspects of his political heritage is his influential charisma andleadership. In all of his undertakings he has attracted both passionate supportand hatred from friends and foes, but his political footsteps have always beencertain and directed toward Malaysia’s national wellbeing. Mahathir is apolitician with sharp views on many issues and he was profoundly brave inverbalising them in the public arena, within Malaysia and internationally. Hisclear posture and speeches without fear made him a world-embracing politicalpersonality. This descriptive research study adopts a qualitative approach toanalyse historical information, documents, memoirs and articles, and books tobetter understand the leadership of Mahathir. (shrink)

Following modernization paradigm and some local dynamics conducive to development, some Asian countries emerged as economic tigers in the world. Conversely, other Asian countries including Bangladesh failed to taste economic development despite having monetary and technological aids from some developed nations. Drawing on some social and historical trajectories of the divergent contours of Asian development/ underdevelopment, the paper examines the state of development in Bangladesh. The study has found that Japan is the first country in Asia to achieve modernization, and (...) it was followed by other Asian tigers such as Korea, Taiwan, Singapore, Malaysia and currently China and India. We found that all these Asian tigers exert a developmental model which is characterized by ‘endogenous’ modernity and economic nationalism largely driven by, among other things, long-term economic vision and strong political leadership. While the history of Bangladesh has witnessed various cultural nationalisms, the nation has failed to generate any unified economic nationalism since its independence in 1971. We suggest that Bangladesh needs a long-term development vision—a key thrust for economic nationalism—focusing more on some socioeconomic and legal aspects that have historically become major impediments for development. (shrink)

The evaluation of tourism competitiveness is an important tool for analyzing the potential of tourism in a specific context. Enshi Autonomous Prefecture in China is selected as a case through which to explore the potential of mountain tourism and its competitiveness in the tourism industry. This study develops EAP’s mountain tourism competitiveness model focusing on three criteria: core competitiveness of mountain tourism, the economic environment’s competitiveness, and infrastructure competitiveness. Context-specific customized evaluation index has been applied to data collected from EAP (...) Statistical Yearbook for 2005–2014. The study reveals that the value of EAP’s mountain tourism core competitiveness, economic and environmental competitiveness, and infrastructure competitiveness are 84.292, 13.4, and 2.308%, respectively. When tourism core competitiveness is increased by one unit, EAP’s mountain tourism competitiveness will increase by 0.84292 units. Similarly, when economic environment competitiveness is increased by one unit, EAP’s mountain tourism competitiveness will increase by 0.134 units. EAP’s mountain tourism competitiveness increases by 0.02308 units when infrastructure competitiveness increases by one unit. The major reasons for low levels of competitiveness were lack of awareness of the county authority, a low level of cooperation, and weak infrastructure. The recommendations from the study’s findings are as follows. Firstly, the county authority should appropriately improve the relationship between competition and cooperation, maintaining cooperation in competition, and competition in cooperation. Secondly, the county authority should strengthen communication by establishing an effective coordinated mechanism. Thirdly, the county authority should improve the sense of cooperation and jointly develop the mountain tourism market. Fourthly, the county authority should improve the construction of tourism infrastructure and break down the barriers to tourism cooperation. The study’s findings help develop a “win-win” cooperation mechanism within the competition and support the sustainable development of the mountain tourism industry while reducing poverty and promoting the revitalization of the mountains of China. (shrink)

ICT for development projects often focus on integrating social factors in information systems design. A well-designed ICT4D solution must be tailored to the needs of the people who will use them and subsequently, requires an extensive understanding of the context and constraints in people’s lives. With an objective to explore how context-specific issues influence the conveyance of appropriate agricultural information to women, this paper uses PROTIC, a 5-year collaborative project between Monash University and Oxfam, as a case. PROTIC was implemented (...) in three climate vulnerable ecological zones of Bangladesh with an aim to overcome the agricultural information gap for rural women. Based on a study in mixed research method and triangulation, this paper brings evidence on the significance of considering context-specific attributes in designing effective and sustainable information services for marginalized women farmers in developing countries. The paper upfolds some significant recommendations which is expected to contribute to the domain of context-specific information system design in resolving socio-economic problems to pave the way of sustainable development. (shrink)

Online crowdsourcing platforms have rapidly become a popular source of data collection. Despite the various advantages these platforms offer, there are substantial concerns regarding not only data validity issues, but also the ethical, societal, and global ramifications arising from the prevalent use of online crowdsourcing platforms. This paper seeks to expand the dialogue by examining both the “internal” aspects of crowdsourcing research practices, such as data quality issues, reporting transparency, and fair compensation, and the “external” aspects, in terms of how (...) the widespread use of crowdsourcing data collection shapes the nature of scientific communities and our society in general. Online participants in research studies are informal workers who provide labor in exchange for remuneration. The paper thus highlights the need for researchers to consider the markedly different political, economic, and socio-cultural characteristics of the Global North and the Global South when undertaking crowdsourcing research involving an international sample; such consideration is crucial for both increasing research validity and mitigating societal inequities. We encourage researchers to scrutinize the value systems underlying this popular data collection research method and its associated ethical, societal, and global ramifications, as well as provide a set of recommendations regarding the use of crowdsourcing platforms. (shrink)

SummaryThe nutritional status of under-five children is a sensitive sign of a country's health status as well as economic condition. This study investigated the differential impact of some demographic, socioeconomic, environmental and health-related factors on the nutritional status among under-five children in Bangladesh using Bangladesh Demographic and Health Survey 2007 data. Two-level random intercept binary logistic regression models were used to identify the determinants of under-five malnutrition. The analyses revealed that 16% of the children were severely stunted and 25% were (...) moderately stunted. Among the children under five years of age 3% were severely wasted and 14% were moderately wasted. Furthermore, 11% of the children were severely underweight and 28% were moderately underweight. The main contributing factors for under-five malnutrition were found to be child's age, mother's education, father's education, father's occupation, family wealth index, currently breast-feeding, place of delivery and division. Significant community-level variations were found in the analyses. (shrink)

Most textbooks on the history of economic theory scarcely mention the Islamic contribution. The writings of Grice-Hutchinson, Lowry, and Essid are notable exceptions, in that they offer a broad summary of the Islamic literature that enriched the Mediterranean tradition. Yet, Islamic civilization simply deepened the flow of ideas inherited from Antiquity before, and passed them on. From the twelfth century, its brilliance started a slow transfer of Islamic knowledge to a West which was ready to receive it.

Mankind is faced with a number of serious problems that demand an effective solution. The prevalence of injustice and the frequency of financial crises are two of the most serious of these problems. Consisting of an in-depth introduction along with a selection of eight of Muhammad Umer Chapra's essays--four on Islamic economics and four on Islamic finance--this timely book raises the question of what can be done to not only minimize the frequency and severity of the financial crises, but (...) also make the financial system more equitable. The author considers the origins of Islamic economics and outlines its development and underlying principles. He compares the approach taken to ethics and economics in Islam with that taken in the West, considering whether lessons can be applied to the global financial architecture in order to mitigate against financial crises. The book also examines the case against interest and looks at both innovation in Islamic finance, as well as challenges facing the industry. Written by a leading authority in the field, this book will be a stimulating resource for students and researchers in Islamic economics and finance, as well as providing valuable insight to all of those with an interest in financial systems and their interaction with society. (shrink)

This study concluded to refute the claim that there is a historical gap in the development of economic thought, whereby the early pioneers of Muslim economists were able to lay many intellectual foundations for the science of economics. This study sheds light on a period that was intentionally or unknowingly ignored; to reveal the historical roots of Islamic economics, and to reveal the missing link in the development of economic thought, from the first Hijri century to the fifth (...) Hijri century, as this study sought to refute the claim of Western leadership in economic thought through the contributions it offered to Muslim thinkers who preceded Western economists by several centuries. Muslim economists have inaugurated several rules of economics, and have used methods of economic analysis to monitor some economic phenomena. They have delivered these achievements to humanity through the scientific edifices in Andalusia. Likewise, the author of this study does not claim that Muslim scholars have dealt with all economic issues. He does not claim that Muslim scholars laid down all the rules of economics and have left nothing. He acknowledges that Muslim economists have not dealt with many modern economic issues, such as credit, financial derivatives, cryptocurrencies, and the like, but he confirms the contribution of Muslim scholars to the development of economic thought. (shrink)

v. 1. An overview. -- v. 2-6. [without special title]. -- v. [7]. Tables of contents and glossary of Arabic terms.

The majority of Muslim countries, classified as low or middleincome groups, suffer from poverty and face severe challenges in economicdevelopment. International development reports attribute the economicproblems of Muslim countries to similar factors as those existing in otherdeveloping countries. However, some secular studies have analyzed theimpact of Islamic culture on the economic variables in the Muslim World, andconsequently on its economic development. This paper reviews and evaluatessome of these studies. Secular works which are selected and examined inthis article can be classified (...) into two main groups. The first group makes nodistinction between authentic Islamic culture and contemporary culture whichis prevailing in Muslim countries and builds its analysis and conclusion uponthis misconception. The second group, however, raises objections towardssome specific Islamic laws and traditional rules, considering them amongfactors which have hindered economic development in the Muslim world. (shrink)

This handbook provides a comprehensive overview of Islamic ethical issues within a wide spectrum of philosophy of science topics, examining the development of the model of moral inclusiveness in economics, science and society from ontological, epistemological and analytical perspectives. This paradigm takes the view that ethics is systemically endogenous, and can be studied by the most rigorous scientific analysis pertaining to diverse issues and problems of ethicality in socio-scientific inquiry. This handbook takes a sweeping transdisciplinary approach that is deeply (...) phenomenological, to the nature and logic of scientific inquiry of, and in, the Qur’an. Such an approach invokes the episteme of the unity of knowledge in the socio-scientific systemic sense. The volumes' respective sections focus on the nature, logic, and role that ethics plays in formulating new vistas of alternative epistemic futures in Islamic economics, finance, and the social sciences. The ideas presented are situated within the broader context of the post-modernist, post-pandemic, and the post-Covid-19 epoch, while being aimed at conceptualising a distinctive new outlook of transdisciplinary intellection in Islamic philosophy. The content is rigorously conceptual, qualitative, quantitative, and applied. Covering a diversity of subject areas from philosophy of science, to economics and in socio-scientific context within the realm of Islamic philosophy, this forms a key text for scholars in these respective arenas, led by pioneering scholarship in Islamic studies. (shrink)

It can hardly be denied that each field of knowledge has its own subject-matter and aims, scope and limits, specific method and distinctive characteristics. Every science has its own historical background and dynamics which explain its emergence and raison d'etre, as well as influence its development over time, expanding and contracting as it were in response to the prevailing Zeitgeist and alongside societal, legal, and political changes. Consequently, each discipline inevitably reflects the realities, beliefs, needs, tendencies, and interests of the (...) individuals (or groups) who undertake its study and instruction, or try to apply and develop it further. In other words, each field of knowledge is mirroring a certain Weltansicht, or worldview‒that is, a comprehensive framework through which individuals or cultures interpret and understand the world around them. In scientific enterprise, worldviews not only provide a broader context for interpreting data, but also influence their research directions, methodological preferences, and final conclusions. Economics is no exception to this phenomenon. This modest essay aims to open up the epistemological foundations of modern economics to closer scrutiny with a view to pinpointing some tacit assumptions, cultural or other biases, and preconceived notions operating beneath the surface of economic models, theories, and methodologies. (shrink)

Whilst the field of contemporary art has been impeded until recently by Saudi Arabia’s blasphemy laws and heavy censorship, the last decade has seen a rapid growth of art networks and institutions. Incidents such as the conviction of internationally lauded artist and curator Ashraf Fayadh in 2015 on charges of apostasy show that Islamic authorities still claim to define what is acceptable and not acceptable in the field of cultural production, but several renowned Saudi artists have started to question the (...) hegemony of the Islamic field. This article discusses these processes in the context of radical economic reform led by the Saudi crown prince Mohammed bin Salman. Why do state actors see an investment in art and creativity as a necessity for economic renewal? What role does contemporary art play in strategies to rebrand the negative image of Saudi Arabia? How do artists relate to Islamic narratives and material culture to claim authority in Islamic debates and provide legitimacy for their concerns? By focusing on the interactions between economic reform and new spaces of Islamic critique, the paper aims to shed light on the way in which the drive for economic transformation is remapping the social boundaries between Islamic authorities, the creative economy and the state. (shrink)

The scientific methodology underlying model-building is critically investigated. The modeling views of Popper and Samuelson and their prototypes are critically examined in the light of the theme of the moral law of unity of knowledge and unity of the world-system configured by the meta-epistemology of organic unity of knowledge. Upon such critical examination of received methodology of model-building in economics, the extended perspective?namely of integrating the moral law derived from the divine roots as the meta-epistemology?is rigorously studied. The example (...) of the Islamic prerogative in interpreting the holistic world-system through model-building in economics is highlighted. A religio-philosophical approach is adopted to exemplify some approaches in Islamic model-building. An especial focus is placed here on grassroots types of financing and activities. The critique of these models within the existing Islamic scholarship is carried out. The result is new dimensions of macroeconomic analysis that emanate in a logical way from the meta-epistemological approach, and oppose the mainstream ideas, both in received and Islamic economic thinking as of now. (shrink)

The paper explores the role and meaning of maṣlaḥa and its possible appropriation in the field of Islamic legal and economic thought, as laid down by various medieval and contemporary Muslim scholars. Questions that are pertinent to the research are the following: how has maṣlaḥa been incorporated in legal reasoning and what kind of meaning does it convey; what type of economic reading does it presuppose; do ethics, law, and scriptural sources play equally important role as reference in developing the (...) concept in economic terms, are some of the questions that this paper will try to provide answer to. Further, as there is a tendency to believe that Islamic economic thought cannot be equated only with legal and juridical underpinnings, it is pertinent to pose a question if economic ideas have flourished independently from its legal framework. Maṣlaḥa in its capacity has always remained part and parcel of Islamic legal theory, and has been rarely addressed within the frame of economic thought; therefore a new reading is required to deal with the position of economic teachings within Islamic tradition. The paper consists of three sections, whereby the contributions made by Muslim medieval scholars on Islamic economics will be presented. The first chapter provides a historical overview of Islamic law and the concept of maṣlaḥa in relation to the field of Islamic economics, including Abu Hamid al-Ghazali’s monumental Iḥya ‘ulūm al dīn, which presents a milestone in converging Sufi ethical teachings of Islam in accordance with the legal methodology of Islamic law. The second part aims to discern and examine the economic jurisprudence and economic theory in Islam as it is understood by some of the mainstream theoreticians of Islamic studies, advocating the view that Islamic economics is inextricably related to the gist of Islamic legal reasoning. In this section the ideas of Muhammad Baqr al-Sadr will be presented as he proposes a new reading of Islamic economics as a doctrine and not a science. The third part questions Islamic legal establishment and its normativity, the claim that legal norms have always been part of the Islamic economic reasoning. This claim rests upon the idea that Islamic legal patterns were also socially constructed, including some aspects of Islamic economic reasoning. Concluding remarks will draw upon the idea that despite the fact that Islamic legal and economic literature are based upon the religious scriptures of Islam, the Qur’an and Tradition, it is more appropriate to claim that they rest upon the ethical cosmology that surpasses purely theological concerns. (shrink)

Several of the Middle East’s traditional economic institutions hampered its political development by limiting checks on executive power, preventing the formation of organized and durable opposition movements, and keeping civil society weak. They include Islam’s original tax system, which failed to protect property rights; the waqf, whose rigidity hampered the development of civil society; and private commercial enterprises, whose small scales and short lives blocked the development of private coalitions able to bargain with the state. These institutions contributed to (...) features that sustain autocracies and keep democracies unstable: high corruption, low trust, widespread nepotism and high tolerance for law-breaking. (shrink)

The purpose of this contribution is to shed some light on the inter-relationships between ethics and economics in Islamic religion, and mainly to assert that ethics constitute endogenous phenomena in Islamic economics. In Islam, economic behaviours and transactions cannot be separated from ethics and values. The Islamic principles are intended to govern, direct and control human beings’ behaviours in their daily economic lives. They are aimed at helping people to distinguish between good and bad things while they (...) do any economic activity. It is worth noting that the moral values in Islamic economics are derived from the main sources of Islam namely: the Quran (the holy book of Islamic religion) and Sunnah (the teachings and behaviours of the prophet of Islam: Muhammad PBUH 570-632 AD). Both of them represent the principal pillars of Shariah (Islamic laws and guidelines), which is seen by Muslims as the proper way to happiness, not only in economic life but in all aspects of life. (shrink)

Although Bernard Lewis is a deeper scholar of Islamic history, and the late Charles Issawi was a greater scholar of the economic history of Muslim societies, Timur Kuran has emerged in the last decade and a half as the leading scholar in the world of the rising field of Islamic economics. While most who study this field are advocates of Islamic economics as a superior system for Muslim societies, and possibly for all societies, Kuran has been a consistent (...) critic. This volume gathers six of his papers published on the subject between 1989 and 1997 together, along with an updating preface. Although they have been edited to some degree, Kuran himself argues in his preface that, “Looking back at the essays grouped in this book, I am struck by how well they have stood the test of time.” By and large this is a correct assessment, and his critical stance now is heightened in the wake of the events of 9/11/01 and its aftermath. The clear theme unifying these essays is that Islamic economics as such is not a genuine answer to the world’s economic problems, but an “invented tradition” that serves as an adjunct to the broader, anti-Western, Islamist political-religious movement. (shrink)

A historical analysis of economic thought in Islamic tradition which interrogates contemporary Islamic economics as a hybrid system.

The moral economics of the Islamic Action Front, the partisan wing of the original Jordanian Muslim Brotherhood, is both defined and compromised by internal inconsistency. Similar to others that might be classified as a socially conservative, religiously-oriented political party, the Islamic Action Front pledges a paternalist commitment to the poor only to undermine the already limited prospects of such paternalism through the adoption of charity-based approaches to social welfare and through their more general advocacy for economic liberalization, free markets, (...) capital mobility, and private initiative. How can one best explain both the contradictions constituting the Islamic Action Front’s economics and the political implications contained within such an economic agenda? This article will review the intersection of local class structure, party ideology, and history so to furnish an answer. (shrink)

This study aimed to analyse the contribution of infaq funds to the social and economic resilience of the community during the COVID-19 pandemic in West Papua, Indonesia. This study uses a mixed-method approach, combining qualitative and quantitative studies. Qualitative data were collected through focus group discussions with administrators, Dai [Islamic preacher] and mosque congregations to obtain information about the form and mechanism for disbursing infaq funds. Furthermore, the state of distribution of infaq funds is confirmed to the recipient community with (...) an online survey as quantitative data. The data obtained were tabulated and analysed with descriptive and inferential statistics using multiple linear regression assisted by SPSS software 25 version. The research findings show that: firstly, the form of the social-economic contribution of infaq funds is carried out by: (1) financial assistance, (2) social assistance, and (3) health assistance. Secondly, infaq, an instrument of Islamic economics, can contribute to tackling the social and economic impacts of the community amid the COVID-19 outbreak. Thirdly, of the three forms of assistance provided, the health assistance aspect contributed 38.320%, the financial assistance aspect amounted to 37.173% and 24.339% to social assistance. This study shows that the community most needed health and financial assistance from infaq funds during the COVID-19 pandemic.Contribution: This study complements the existing literature and provides a new scientific treasure. That the infaq fund, as a philanthropy, turned out to be able to contribute to realising the social-economic resilience of the community during a disease outbreak. The form of health, financial and social assistance from infaq funds is a priority in accelerating the community’s economic recovery. It can be a countermeasure to socio-economic impacts during disasters and disease outbreaks. (shrink)

The focus of this study is to explore the impact of transformation from living as a community and perceiving cooperation as a responsibility to meet each other’s needs to individualized society of the modern life due to the capitalist market system on religious obligations with economic implications through emerging institution in the modern period. This study will first analyze how the proxy-embeddedness has led to a transformation in the society from the perspective of Islamic economics under four categories: (1) (...) the weakening of Muslims’ relations with their relatives and neighbours; (2) Equalization of worship for different purposes on a common denominator; (3) Lack of social awareness due to deprivation of the experience of performing worship personally; and (4) the prioritization of those capable of being productive over unproductive people in terms of being beneficiaries of zakat or other types of benefits. Worships such as zakāt and sacrifice are among the acts of worshipping that enable wealthy Muslims to help those in need financially. Although the transfer of material resources to the needy people through modern institutions ensures the fulfilment of worship, through which principles and objectives this transfer is carried out are also important. Significant transformations are observed in the way these worships are performed compared to the pre-modern period, as institutions that carry out zakāt and sacrificial meat collection and distribution activities in line with capitalist principles such as low transaction costs and efficiency. First, it is expected from a Muslim to be aware of the social environment he/she is in, be aware of the needy, and maintain social relations within this awareness. All kinds of charity and financial aid at the level of individual relations, especially zakāt and sacrifice, ensure the continuation of this awareness. If Muslims perform these worships and charity activities through institutions, the awareness of one’s environment will weaken. A second transformation is to make these worships indistinguishable from each other by equating them to the common denominator of paying money. This situation leads to the equalization of worship at the material level and causes the differences to be invisible for Muslims who perform the worship. A third transformation is that the realization of worship by institutions through the proxy system causes Muslims to be deprived of the experience of performing worship individually. While these prayers are performed through institutions in an efficient and low-cost way, the only thing expected from Muslims is to make the necessary payment through the bank. In this case, the spiritual contributions expected to be realized during the fulfilment of the worship decrease. Finally, we see that some institutions utilize capitalist principles and goals to decide who should receive financial aid. For this reason, people who can become a productive factor due to the help they receive are prioritized over others. There is a rational choice behind this decision mechanism: It is aimed to reduce the number of needy people in society by transforming zakat recipients into zakāt payers. On the other hand, Islamic sources do not consider such a priority among those who deserve to receive zakāt. Moreover, this situation will lead to the permanent postponement of people who are not included as a productive factor in the capitalist system but in need. In the second part of the study, an analysis of the agency (vekalet) system, which allows individuals to transfer some of their responsibilities to private institutions to spend time more efficiently, is conducted through the example of nursing houses. Another example of the fulfilment of zakat and sacrifice through the proxies given to institutions is that Muslims fulfil their responsibilities towards their relatives through institutions such as nursing houses. The reason for such a need arises from the fact that people, who take place as human capital in the capitalist system, are required to spend their time to improve themselves, get new education and gain more experience, instead of spending their time taking care of their relatives so that the production process can continue to grow. Although this type of service contract is formally valid in terms of Islamic law when evaluated in terms of the bond that Islamic morality envisages to be established between Muslims and their relatives and the protection of this bond, institutions such as nursing houses can lead to the commodification of family ties due to the transfer of responsibilities to relatives in return for a service fee. (shrink)

As global business operations expand, managers need more knowledge of foreign cultures, in particular, information on the ethics of doing business across borders. The purpose of this paper is twofold: to share the Islamic perspective on business ethics, little known in the west, which may stimulate further thinking and debate on the relationships between ethics and business, and to provide some knowledge of Islamic philosophy in order to help managers do business in Muslim cultures. The case of Egypt illustrates some (...) divergence between Islamic philosophy and practice in economic life. The paper concludes with managerial implications and suggestions for further research. (shrink)

The rapid development of complex income taxation and welfare systems in the 20th century may give the impression that progressive wealth redistribution systems are uniquely modern. However, religious systems provided similar mechanisms for addressing economic injustice and poverty alleviation centuries earlier. Zakat is the obligation of almsgiving and is the third pillar of Islam--a requirement for all believers. In the early development of the Islamic community, zakat was collected as a tax by the state and the funds were distributed (...) to a defined set of needy groups. As a theoretical matter, there are three insights that make zakat an especially relevant subject for modern legal scholars. First, zakat is an example of a modest wealth tax combined with an income tax that may be illustrative in the discourse regarding wealth taxes. Second, the jurisprudence of zakat supports the ethical conclusions of scholars who contend that property rights are attached to post rather than pre-tax income. Third, to the extent that zakat is considered a principal source of revenue for public programs, it might imply a limited role for government, focusing on equitable distribution of goods. This paper begins with a thorough evaluation and synthesis of the traditional Islamic jurisprudence related to zakat. The next section identifies three broad approaches to zakat adopted by modern Muslim states, with particular emphasis on ways that zakat is institutionalized legally. This is followed by an empirical analysis of the correlation of the approaches to zakat with individual income and wealth stratification. The article concludes with observations and policy recommendations related to zakat and broader legal theory based on the earlier qualitative analysis and empirical findings. (shrink)

Since its formal inception in the early 20th century, Islamic economicshas been considered a modern phenomenon, even though its foundations canbe traced back to the earliest of Muslim civilizations. However, despite Islamiceconomics being more than half a century old, there are many serious issues,such as epistemological and methodological concerns, that need to be resolved.In order to delve into such matters, a clear understanding of the origins of modernIslamic economics is necessary. Hence, some of the important questions are:who are its (...) initiators, what were they especially interested in, and how have itssubject matter, agenda and intentions changed through different time-periods.Accordingly, the aim of this paper is to focus on and evaluate the course ofthe early development of Islamic economics via two bibliographies of Siddiqi, and Zaim. In order to attain this aim, content analysis usingexcel-generated heat maps are used to facilitate contextualized interpretation.More specifically, heat maps for the two selected works mentioned above arecreated from the two bibliographies in order to make comparisons betweenthem. (shrink)

"Written in a racy, persuasive style, the book impresses the reader as a work of significant scholarship...I encourage students of comparative religions- and especially those of Islamic economics- to read it with great care."&$151; Islamic Studies The worlds of economics and theology rarely intersect. The former appears occupied exclusively with the concrete equations of supply and demand, while the latter revolves largely around the less tangible concerns of the soul and spirit. Intended as an interfaith clarification of the (...) relationship between the material and the spiritual worlds, this volume first inspects secular beliefs about the relationship between economics and ethics. Exploring the differences and similarities between the treatment of economic issues in each of the great monotheistic religions, Rodney Wilson reveals how each tradition considers such subjects as individual wealth, lending, economic regulation, usury, insurance capitalism, socialism, and banking. He concludes with an intriguing epilogue on the rapidly expanding field of business ethics. (shrink)

_Examining inequality through the lenses of moral traditions_ Rising inequality has attracted a great deal of attention in recent years from scholars and politicians, but the moral dimensions of inequality tend to be ignored. Is inequality morally acceptable? Is it morally permissible to allow practices and systems that contribute to inequality? Is there an ethical obligation to try to alleviate inequality, and if so, who is obligated to take that action? This book addresses these and similar questions not through a (...) single lens of morality but through a comparative study of ethical traditions, both secular and religious, Western and non-Western. The moral and political traditions considered are: liberalism, Marxism, natural law, feminism, Buddhism, Judaism, Islam, Christianity, and Confucianism. The types of inequality examined include property, natural resources, products, wealth, income, jobs, and taxation. The editors open the book with an introduction providing information on contemporary dimensions of the problem of economic inequality, and the book concludes with a summary of the perspectives represented. _Economic Inequality and Morality_ is unusual in that it addresses similarities and differences on the questions of inequality within and across moral traditions. Authors of the individual studies answer a common set of topic-related questions, giving the reader a broad perspective on how a broad range of traditions view and respond to inequality. (shrink)

: This study is an analysis of the theological and ethical dimensions inthe writings of Adam Smith. It deals with aspects of philosophy and intellectualhistory. By revealing the theological and ethical roots of Smith’s writings in theformation of modern economics, arguments for an economics that is based onIslamic foundations become stronger. The study will therefore lay out the basicmoral project of Smith and then contextualize it in the Western Enlightenmenttradition. It shows how religious discourses were instrumental in shaping (...) thethoughts and ideas of Enlightenment in general, and economics in particular.The study will then give a brief overview of traditional Islamic theology andethics in order to give directions for future research. (shrink)

Islamic financing instruments can be categorised into profit and loss/risk sharing and non-participatory instruments. Although profit and loss sharing instruments such as musharakah are widely accepted as the ideal form of Islamic financing, prior studies suggest that alternative instruments such as murabahah are preferred by Islamic banks. Nevertheless, prior studies did not explore factors that influence the use of Islamic financing among non-financial firms. Our study fills this gap and contributes new knowledge in several ways. First, we find no evidence (...) of widespread use of Islamic financing instruments across non-financial firms. This is because the instruments are mostly used by less profitable firms with higher leverage. Second, we find that profit and loss sharing instruments are hardly used, whilst the use of murabahah is dominant. Consistent with the prediction of moral-hazard-risk avoidance theory, further analysis suggests that users with a lower asset base are associated with murabahah financing. Third, we present a critical discourse on the contentious nature of murabahah as practised. The economic significance and ethical issues associated with murabahah as practised should trigger serious efforts to steer Islamic corporate financing towards risk-sharing more than the controversial rent-seeking practice. (shrink)

Why has the Islamic economy, as a model of socioeconomic development, gained traction as a viable option? The existing literature suggests that the Islamic economy has been popularized by a combination of factors, including anticolonial movements, a global renewal of religiosity, and the activities of new social strata who merge piety with capitalist orientations. These approaches, however, tend to homogenize social actors, subsuming them under the overarching label of Islamism. In contrast, this article employs the lens of “intra-hegemonic struggles” to (...) identify three competing orientations of Islamism and their manifestation in the economy. Drawing on eighteen months of fieldwork in Kazakhstan and Kyrgyzstan, it argues that this contestation motivates diverse segments of the society to create and engage in the Islamic economy, rather than any single state-driven or identity-based movement. The article synthesizes three otherwise isolated bodies of work: the political sociology of articulation, new theories of Islamism, and the concept of imaginaries from economic sociology. (shrink)