The Economic Role of the State in the Classical Islamic Literature: The Views of Ibn Taimiyah

Al‐Foul, Bassam Abu; Soliman, Mohamed

doi:10.1111/j.1949-3606.2006.tb00022.x

Cited by 3 publications

(3 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Ibnu Taimiyah (1976) distinguishes two types of pricing: unfair and legally flawed pricing and fair and legal pricing. The application of unfair and legally flawed prices is called "price fixing," which is carried out when price increases occur as a result of free market competition, namely a scarcity of supply or an increase in demand (al-Foul & Soliman, 2006).…”

Section: Ibn Taimiyah's Thoughts About Price Regulationmentioning

confidence: 99%

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

Huda

Sidiq

2023

reinforce

View full text Add to dashboard Cite

This study aims to analyze cooking oil price control policies in Indonesia by examining Ibn Taimiyah's thoughts about market mechanisms and price interventions. The research method used is a qualitative research methodology with a literature study approach. The research results show that the market mechanism in Islam is free of any intervention. However, the government can intervene in market prices when distortions occur. The government's policy of providing cooking oil subsidies to the less fortunate and setting the lowest retail price is permissible because there are conditions where producers do not want to sell their goods except at a price higher than the general market price, even though consumers really need these goods. According to Ibnu Taimiyah, the government may intervene in prices and limit sales after conducting negotiations, discussions, and consultations with interested communities.

show abstract

Section: Ibn Taimiyah's Thoughts About Price Regulationmentioning

confidence: 99%

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

Huda

Sidiq

2023

reinforce

View full text Add to dashboard Cite

show abstract

“…This would include prayer, fasting, municipal administration and fair-market practices (Al-Foul and Soliman, 2010;Saleh, 2009). In the latter, the mu Á htasib is responsible to inspect the bazar (market) and ensure the Sharīʿah compliance of the business transactions executed therein.…”

Section: Introductionmentioning

confidence: 99%

“…In simple words, Á hisbah involves the practice of surveillance by the mu Á htasibs in enforcing the implementation of the Sharīʿah and Islamic ethical values in all aspects of the community's daily conduct. This would include prayer, fasting, municipal administration and fair-market practices (Al-Foul and Soliman, 2010;Saleh, 2009). In the latter, the mu Á htasib is responsible to inspect the bazar (market) and ensure the Sharīʿah compliance of the business transactions executed therein.…”

Section: Introductionmentioning

confidence: 99%

Centralisation of corporate governance framework for Islamic financial institutions

Razak

2018

IJIF

View full text Add to dashboard Cite

Purpose The purpose of this paper is to supply basic insights into the principle of shūrā (consultation) in Islamic banking, the idea of a centralised approach to the corporate governance of Islamic financial institutions (IFIs), the roles of a centralised Sharīʿah board as the highest authority on Sharīʿah issues and its distinguishing features from a de-centralised system and the advantages and disadvantages of the two governance systems. Design/methodology/approach In analyzing these, the paper adopts the critical legal studies approach and refers to the provisions of the Qurʾan and Sunnah, ijmāʿ (consensus) of Sharīʿah scholars and recent Islamic banking reports. Findings Despite the fact that the double-digit growth of the current US$2tn Islamic banking industry is a promising sign for its further expansion – expecting to cross the US$6.5tn mark by 2020 – there remains concern over the lack of standardization or rather the diversified approaches to the corporate governance of IFIs across key Islamic banking regions. Practical implications There has been much debate surrounding the issue of whether the Islamic banking industry requires a centralised Sharīʿah board at the state level to complement the Sharīʿah boards at the IFIs’ individual level in providing better supervision of the Sharīʿah-compliance of IFIs. The fact that the industry is already equipped with two prominent standard-setting agencies in the form of the AAOIFI, the IFSB does little to suggest that best governance practices – which centre around the themes of consistency, harmony and uniformity – are on the horizon, at least not whilst their issued standards and guidelines remain voluntary for IFIs. Originality/value All in all, it is aspired that this paper may assist the reader in evaluating the pros and cons of the whole concept of Sharīʿah board centralisation.

show abstract

Developing an Islamic Corporate Governance framework to examine sustainability performance in Islamic Banks and Financial Institutions

Jan

Lai

Tahir

2021

Journal of Cleaner Production

126

View full text Add to dashboard Cite

The Economic Role of the State in the Classical Islamic Literature: The Views of Ibn Taimiyah

Cited by 3 publications

References 0 publications

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

COOKING OIL PRICE CONTROL POLICY IN INDONESIA (A review of Ibn Taimiyah's thoughts)

Centralisation of corporate governance framework for Islamic financial institutions

Developing an Islamic Corporate Governance framework to examine sustainability performance in Islamic Banks and Financial Institutions

Contact Info

Product

Resources

About