Theoretical Studies in Islamic Banking and Finance

Khan, Mazlina Pati

doi:10.4197/islec.4-1.3

Cited by 7 publications

(5 citation statements)

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“…The primary and essential Islamic economics objective is falȃh (Khan, 1984). For most experts, even generally among Muslim economists, efforts to achieve this goal, i.e.…”

Section: Resultsmentioning

confidence: 99%

“…Two buildings of Islamic economic goals, proposed by and Hasanuzzaman (1984), emphasize the balance between the goals of rub ubiyah and insha niah (humanity) Islamic economics. The primary and essential Islamic economics objective is fala h (Khan, 1984). For most experts, even generally among Muslim economists, efforts to achieve this goal, i.e.…”

Section: Homo Islamicus As the Kind Of Economic Agent Required To Ach...mentioning

confidence: 99%

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A systematic review on homo Islamicus: classification and critique

Sholihin

Sugiyanto

Susamto

2023

IES

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PurposeThis paper aims to systematically review the concept of homo Islamicus discussed in the existing literature. The second objective is to offer a set of criticisms of the descriptions of homo Islamicus.Design/methodology/approachIn this paper prespecified eligibility criteria are applied to select articles that are indexed in Scopus and ProQuest, or published by two major publishers, ScienceDirect and Emerald, or appear on ResearchGate. A set of books related to homo Islamicus was also used as secondary sources to support the selected articles. As a result, this paper systematically reviews 53 articles and four books to synthesize the homo Islamicus.FindingsThere are four notions of homo Islamicus: Firstly, homo Islamicus as the kind of economic agent that is required to achieve Islamic economic objectives. Secondly, homo Islamicus as a defining factor that makes the difference between Islamic and conventional economics. Thirdly, homo Islamicus as an economic agent whose characteristics are something Islamic economics aims to realize. Lastly, homo Islamicus as an economic agent representing the fundamental assumption in Islamic economics.Practical implicationsMapping homo Islamicus can be helpful for future researchers to conduct analyses related to homo Islamicus, especially in the context of empirical studies of the existence of homo Islamicus in economic reality. This literature review can help other researchers to understand the development of literature related to homo Islamicus.Originality/valueThis paper seems to be the first to systematically identify, select and synthesize the description of homo Islamicus in the literature.

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“…The primary and essential Islamic economics objective is falȃh (Khan, 1984). For most experts, even generally among Muslim economists, efforts to achieve this goal, i.e.…”

Section: Resultsmentioning

confidence: 99%

Section: Homo Islamicus As the Kind Of Economic Agent Required To Ach...mentioning

confidence: 99%

A systematic review on homo Islamicus: classification and critique

Sholihin

Sugiyanto

Susamto

2023

IES

View full text Add to dashboard Cite

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“…For a somewhat revised version of this paper, see al -Dawalibi, 1988. Some of the others who followed suit are: Phulwarwi, 1959;Fazlur Rahman, 1964;Katouzian, 1979;M. Ali Khan, 1992, and Saeed, 19954 al-Sanhuri, 1953-4, (1953, Razzaq al, Masadir al-Haqq fi al-Fiqh al-Islami (Beirut: Dar Ihya' al-Turath al-Arabi).…”

Section: Discussionmentioning

confidence: 99%

The Nature Of Riba In Islam

Chapra¹

2008

millah

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Perdebatan masalah riba seperti tidak pernah selesai di diskusikan oleh banyak kalangan, baik akademis, organisasi keagamaan, bahkan sampai pada forum-forum intenasional. Beberapa terminologi dibahas dengan baik dalam tulisan ini yang dimulai dengan pelarangan riba itu sendiri kemudian pembagian-pembagian riba, diantaranya riba al-Nasi'ah dan riba al-Fadl, serta implikasi dari dua bentuk riba tersebut. Pembahasan didukung dengan pendapat-pendapat para ulama dan ekonom yang merujuk langsung dari ayat-ayat al-Qur'an, sampai pada perdebatan hukum. Demikian juga al-Qur'an sangat jelas membedakan antara riba dan perdagangan, namun pelarangan riba sangat jelas bahkan diperkuat dengan hadits-hadits yang dengan eksplisit melarang riba. Dijelaskan pula tentang perbedaan antara riba dan bunga bank. Islam sangat menentang bunga bank karena Islam berharap terjadinya sistem ekonomi yang mengeliminasi seluruh bentuk ketidakadilan dengan memperkenalkan keadilan antara pengusaha dan pemilik modal, yaitu berbagi resiko dan berbagi hasil.

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“…So, the value of work, prevailing market rate, needs of workers and fairness are common themes across multiple references, including Khan (2015), Ibrahim (2017), and Siddiqi (2002). Other important factors include social justice, profit-sharing, inflation protection, productivity, cost of living and demand for labor, which are discussed in the works of various authors such as El-Ashker and Wilson (2006), Kahf (2000), Khan and Mirakhor (1987) and Samad (2016). In addition, the literature emphasizes the importance of ethical and work values, as well as the management of human resources, as described by Mohammad and Abdullah (2015) and Shaikh and Khan (2016).…”

Section: Islamic Perspective On Wage Determinationmentioning

confidence: 99%

Justice in the workplace: Islamic principles for wage determination

Yasmeen

2023

IES

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PurposeThe objective of this study is to construct a theoretical framework concerning wage determination, grounded in principles and supplemented by conventional theories. It discusses the Islamic perspectives on minimum wage and examines contemporary challenges and intricacies in its application.Design/methodology/approachThis study uses thematic analysis to create the conceptual framework, drawing upon a review of pertinent literature such as academic papers, books and articles published up to 2023.FindingsThe framework encompasses various categories, namely, employee characteristics, job characteristics, market factors, compensation practices and Islamic principles. Each category consists of multiple variables. The resulting framework offers a holistic and ethically grounded methodology for wage determination, aligning with both Islamic and conventional perspectives. This study notes the absence of a universally agreed-upon minimum wage. Islamic economics faces challenges due to the unclear application of principles, limited awareness, legal constraints and a lack of empirical evidence on wage systems, along with complexities in their implementation.Research limitations/implicationsThe paper’s limited scope focuses solely on the Islamic perspective on wage determination, without comparing it to the conventional viewpoint. This may have implications for future research.Practical implicationsThe insights on Islamic principles and wage determination guide scholars and policymakers interested in promoting just and equitable wages.Originality/valueThis study is distinct in its integration of various factors to propose an all-encompassing framework for wage determination, rooted in the Quran and principles, while also reinforcing the framework with conventional theories. Additionally, it adds to the growing body of literature by investigating the Quran’s stance and principles on minimum wage, as well as discusses the challenges involved in implementing an Islamic approach to wage determination, which has received limited attention in Islamic literature.

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Theoretical Studies in Islamic Banking and Finance

Cited by 7 publications

References 0 publications

A systematic review on homo Islamicus: classification and critique

A systematic review on homo Islamicus: classification and critique

The Nature Of Riba In Islam

Justice in the workplace: Islamic principles for wage determination

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