Self-Interest‚ Homo Islamicus and Some Behavioral Assumptions in Islamic Economics and Finance Mohammad Omar Farooq Associate Professor of Economics and Finance Upper Iowa University September 2006 [Draft in progress: Feedback welcome] I. Introduction Homo economicus‚ the Economic Man‚ represents a rational human being formalized in certain social science models‚ especially in economics‚ who acts in self-interest to achieve in a goal-oriented manner. As John Kay puts it‚ "He is self interested
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through its wholly-owned subsidiary‚ Bursa Malaysia Islamic Services Sdn Bhd has officially launched Bursa Suq Al-Sila’ or commodities market in Arabic on 17 August 2009. It was previously known as Commodity Murabahah House. Bursa Suq Al-Sila’ is another effort to promote Malaysia as an international Islamic financial centre. It will serve the growing demand for Shariah-compliant financing needs and close the gap currently faced by international Islamic financial players. Bursa Suq Al-Sila is the world’s
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Question 1 | |Conventional economic |Islamic economic | |Definition |The study of how people make decisions about |Islamic economic studies man not only as an | | |how to spend their resources on needed goods |isolated individual but of a social individual | |
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What is the difference between Islamic bonds and conventional bonds? Back to Top Islamic bonds are similar to conventional bonds in Malaysia. It always has fix term maturity‚ can bear a coupon‚ and trades on the normal yield price relationship (see attached appendix II on calculation method). For conventional investors‚ the structuring of the bonds by the issuer is immaterial. The difference lies only in the way the issuer structure the bonds. An Islamic bonds is structured such that the
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Overview There has been large scale growth into the Islamic banking in Muslim countries and around the world during the last twenty years as the performance growth is influenced by factors including the introduction of broad macroeconomic and structural reforms in financial systems‚ the liberalization of capital movements‚ privatization‚ the global integration of financial markets‚ and the introduction of innovative and new Islamic products. Islamic finance is now reaching new levels of sophistication
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Al-Qaeda’s origins and links Al-Qaeda‚ meaning "the base"‚ was created in 1989 as Soviet forces withdrew from Afghanistan and Osama Bin Laden and his colleagues began looking for new jihads. The organisation grew out of the network of Arab volunteers who had gone to Afghanistan in the 1980s to fight under the banner of Islam against Soviet Communism. During the anti-Soviet jihad Bin Laden and his fighters received American and Saudi funding. Some analysts believe Bin Laden himself had security
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Malaysia an Islamic State? Thursday‚ 17 November 2005 05:00PM IS MALAYSIA AN ISLAMIC STATE?by ©Tommy ThomasA. INTRODUCTION - On 29th September 2001‚ during his Opening Address to the Gerakan Party’s 30th national delegates conference‚ Prime Minister Datuk Seri Dr Mahathir Mohamed announced:“UMNO wishes to state loudly that Malaysia is an Islamic country. This is based on the opinion of ulamaks who had clarified what constituted as Islamic country. If Malaysia is not an Islamic country because
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OGU‚ OP (PhD) MAY‚ 2012. CONTENT Introduction 1. The word “education” 2. Spread of Islam and Islamic Scholarship in Nigeria 3. Education in Northern Nigeria 1. Indigenous Education 3.2 Islamic Education 3.3 Qur’anic School a. Makarantar Allo b. Makarantar ‘llmi 3.4Reform in Islamic Education 4. Factors challenging Muslim Education in Nigeria 5. Western Education 5.1 The role of British administration
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April–June 2009 Islamic banks in the United States: breaking through the barriers Abdi Shayesteh‚ senior associate with the King & Spalding law firm in New York and a member of the Middle East and Islamic finance practice group‚ takes a look at what the US Islamic finance market has to offer. The question of whether US regulators will be accommodating towards the growth of Islamic banking is now moot. Today‚ the United States is home to at least nineteen providers of Islamic banking products
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Accounting & Supervisor of Dissertation Faculty of Business Studies Green University of Bangladesh Subject: Submission of the Dissertation report. Dear Madam‚ It is a great pleasure to permit to complete dissertation on “Introduction to Islamic Banking of Bangladesh”. That has been given Permit ion to doing research me for the partial fulfillment of the requirements of EMBA program. I will try my level best to prepare report a presentable shape and make appropriate and information to
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