Stabilization and Growth in an Open Islamic Economy

Abstract

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Islamic Finance and Shariah‐Compliant Real Estate Investment

“…However, all such fi nance methods have to be certifi ed by a panel of experts, the 'Shariah board', whose members are drawn from respected Shariah scholars with the expertise to interpret Islamic law. In light of these moral impediments to 'passive' investment and secured interest as form of compensation, Shariah-compliant lending in Islamic fi nance requires the replication of interest-bearing, conventional fi nance via more complex structural arrangements of contingent claims (Mirakhor & Iqbal, 1988). Middle Eastern investors prefer using the Murabaha and Ijarah vehicles to invest in the USA.…”

İslâmi İktisat Analizinin Yeni Bir Çerçevesine Doğru

“…[25] Diğerleri, modern İslâmi iktisat disiplininin görece genç olduğunu vurgulamaktadır; konvansiyonel iktisadın yüzyıllardır süren gelişiminin aksine sadece son yıllarda resmileşmiştir. [26] Disiplin hâlâ başlangıç aşamasındadır.…”

Toward a New Framework of Islamic Economic Analysis (2020)*

“…25 Others emphasize the relative historical youth of the discipline of modern Islamic economics, which-in contrast to the centuries of development of conventional economics-was only formalized a few decades ago. 26 The discipline is still in its infancy.…”