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Showing 10 results for Islamic Economy
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Volume 4, Issue 10 (5-2015)
Abstract
Abstract The economic systems are assessed and qualified with the following fundamental questions: what to produce? How to produce? And For whom to produce? Pure capitalism system answers to these questions through the market mechanism in the framework of positivism approach. In this method the economics distances from the ethic theme and it enthusiasms towards mathematic and engineering theme tune. The main challenge of this system is the market failure. In fact, the market inefficiency and failure is involved in subjects like resources allocations and inability or intendancy of private sector in producing of public goods and services which has led the pure capitalism system toward the mixed system and appearance of welfare states. Nevertheless, the concept of market failure couldn’t be able to explain the inability of the market in recognizing and applying of ethical values in the solving of different social and economic problem. On the other hand, the answers of Islamic economic system can be inspected in a triangle dimension. In this system the role of market in setting of price on products and production factors as well as allocation of resources is inevitable. However, answers to the above question in this system cannot be issued unless considering and applying of Islamic law (Sharia) and ethical values. This integration of factors and making restrictions in response to the above mentioned questions forms a new paradigm which distinguishes the Islamic economic system from other systems. According to this system the market’s price signal wouldn’t be sufficient condition for demand and production. Also, relative prices, profit maximization and purchasing power could not be the only reasons for resource allocations and decision makings for productions and consumptions. Hence, the current paper aims to compare two above mentioned system. Also, it is aimed to precisely analysis the ethical and legal aspects of Islamic economic system approach in response to the above asked questions as well as the departure of classical economics from the ethical values attitudes. In this context, subjects like economic man in Islamic perspective and forming of human moral behavior are considered as the main groundwork of Islamic economic system in responses to the above asked questions. Furthermore, in this paper, the social justice issue and the role of Islamic social institution like Islamic public bail (social guarantees) as well as Islamic government in determination of social interests and directing and influencing of private sector’s activities based on the asked questions are emphasized.
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Volume 4, Issue 11 (9-2015)
Abstract
Abstract Islamic economic system, considers market as one of the main institutions where transactions are carried out. The freedom of entry and exit, the existence of clear information, lack of compromise (conspiracy) in price and profit increase, the lack of monopoly, and ultimately the existence of morality which is the main factor in achieving the above-mentioned characteristics are the most important features of an Islamic market. Islam has defined some limits for each of the transactions, referred to as rules, one of them is the denial of hoarding. According to this rule, any transaction which leads to a risk caused by the lack of clear information and causes moral hazard that affects the prices and thus the supply and demand for traded goods and risk of loss has been banned. In this study, using the application of game theory, the relationship between buyer and seller while hoarding, which is one of the important issues in Islamic economics is analyzed and the main purpose of the study is the unlawfulness of the type of transaction in Islam using game theory. For this analysis, we investigate a hypothetical transaction in the form of a game with asymmetric information. It can be concluded that the lack of attention to this important issue in society which is due to the moral hazard causes additional costs for individuals and reduces society utility as a whole. By solving the problem of incomplete information and clearing it, the probability of transactions with hoarding is reduced.
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Volume 5, Issue 17 (2-2017)
Abstract
Consumption and consumption behavior in each society is influenced by factors such as unemployment, poverty, underdevelopment and also society's believes and values. As consumption and consumption behavior are affected by norms and values, normative aspect of economy must be considered with positive economics; and this is the difference of Islamic economics and convectional economics. So modifying consumption pattern in Islamic economy is so important because of development aspect and controlling instinctive demands like selfishness, greed, avidity, and luxury-oriented as well; and consumer behavior theory in Islamic theory has its own special assumption.
To explaining this subject, in this research, first the difference between conventional economics and Islamic economics is explained; then the assumptions of Islamic consumer behavior are presented. Then, because of the importance of this subject in Iran's economy by using a questionnaire, data of 420 Muslims in different areas of Iran are gathered and with the descriptive method these data are analyzed. Results show that there is a gap between Iranian Muslim consumer's behavior and assumptions of Islamic consumer behavior theory.
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Volume 7, Issue 22 (3-2018)
Abstract
The epistemological study of economic schools reveals the points of difference and similarity between them. It can help recognize goals, strategies and policies and the way they confront the economic challenge .The present study considers the epistemological principles of Islamic economics and new institutional economics with a comparative approach. The results show that reason as a means of achieving knowledge in both Islamic economics and institutional economics, is limited. Rational information is imperfect and asymmetric. Sense and experience and history are other sources of knowledge that Islamic economics and institutional economics apply them. But the revelation is dedicated to Islamic economics. Acceptance of revelation as a source of knowledge in Islamic economics raise elements such as God ownership, God pleasing , heavenly utility and cause significant differences between content of Islamic economics and other schools of economic. Education of Revelation following the Islamic concept and are unerring, irrefutable and immortal.
Rohollah Ebadi, Mahdi Jafari,
Volume 9, Issue 32 (11-2020)
Abstract
The most important economic issues, especially in Islamic economics is the study of economic behavior. Islamic financial system with recognition and incentives to stimulate the intellectual, economic behavior in order to regulate the economic and social needs.
The Islamic financial system and monetary Usury lending practices that replace the traditional system and the most common way to the intersection of the supply and demand for funds, Expected to have an economic system does not deadlock. Given that Islam emphasizes Gharz alhassana financing methods, particularly in meeting the needs of Muslims is essential In this descriptive-analytical study using the full extent of resources the concept of economic development strategies, Bamtghyrhay Gharz alhassana relationship of the economy, such as income distribution, consumption, savings study. The research seeks to prove the hypothesis that the institution Gharz alhassana and redistribution strategies, especially strategies for basic needs, there is a consistent relationship.
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Amir Hossein Mozayani,
Volume 12, Issue 42 (5-2023)
Abstract
More than four decades have passed since the implementation of Islamic economy in the country. During this period, the operationalization process of Islamic economy has seen many changes. From the formation of very idealistic expectations in the early years about the capabilities of the Islamic economy in terms of responding to all human needs in material life, to the implementation challenges and the gap between the initial expectations and the existing performance in the country's economy. In order to diagnose the current performance of the Islamic economy in the country, the study of the issue from the perspective of the supply side and the demand side was put on the agenda. The results indicate that there is a big gap between what is currently available as the experience of operationalization of Islamic economy and what was expected from the category of Islamic economy at the beginning of the revolution. In addition, it seems that in the supply side of Islamic economy, both in terms of scientific and intellectual foundations and in terms of providing software platforms, in comparison with the demand side of Islamic economy, a relatively more appropriate performance is observed. In the end, it is recommended to pay attention to some facts in order to redefine the operationalization process of Islamic economy in the country. The components of the Islamic economy are not the same in operational terms, the society is an entity that changes over time, the Islamic government should also be committed to policy-making in accordance with the operationalization of the Islamic economy, etc.
Isa Malekpour, Jalil Totonchi, Mohammad Ali Dehghan Tafti,
Volume 13, Issue 48 (8-2024)
Abstract
In a conventional economy, interest rates play an important role in allocating available cash between borrowers and lenders. Interest rates are also the core of conventional monetary policy tools, such as the discount rate and open market operations. On the other hand, a key feature of the Islamic economy is the absence of payment or receipt of any predetermined (fixed) interest rate, known as usury. In this case, how can the economy work without a conventional institution called interest and how can the central bank effectively control money reserves in the absence of traditional instruments. Instead of a fixed rate, Islamic economy organizes its activities based on the principle of profit and loss sharing. Therefore, according to the importance of the above topic, in the present research, the design of the difference and common funds model of the theories of money and interest with emphasis on Islamic economy has been discussed. This research is a mixed type of research in which two approaches used in behavioral sciences, namely quantitative and qualitative, are used. Also, SPSS and Lisrel statistical software are used for statistical analysis and deriving the hypotheses of this research. This research is a mixed type of research in which two approaches used in behavioral sciences, namely quantitative and qualitative, are used. Also, SPSS and Lisrel statistical software are used for statistical analysis and deriving the hypotheses of this research. The current research will be done in 1400. The statistical community in this research includes experts in the field of economics and Islamic economics, and the sampling method of special or special and available cases has been used. Finally, in this research, the differences and commonalities of the theories of money and interest are presented separately with an emphasis on Islamic economics.
Saeedeh Alizadeh, Morteza Ezzati,
Volume 13, Issue 49 (12-2024)
Abstract
Allocation authority is one of the property rights and belongs to the owner. The allocator must have the power of allocation to be able to allocate the asset. According to the definition of economics, ownership has a special place in economics. Its ownership and rights in any society depend on the ruling ideology of that society. In today's world, there are two dominant ideologies, one is communism, which wants to abolish all kinds of ownership, and the milder form of socialism, which wants to abolish private ownership and share ownership of capital and means of production, and the other is capitalism or the system of freedom in all types of ownership. which are relevant in two domains of property rights. The proposed frameworks for other economic systems fall within the scope of these two. In this context, views with the name of Islam have also been proposed, some of which are worthy of consideration. If we want to accept or reject a particular view on the issue of ownership from an Islamic point of view, the criterion for acceptance or rejection should be the Qur'an. Therefore, in this article, by extracting the verses related to ownership in the Qur'an and comparing the verses of the Qur'an and the views of three Muslim thinkers (Mohammed Hossein Beheshti, Morteza Motahari, and Mohammad Baqer Sadr), an attempt has been made to examine and formulate a theoretical formulation of the issue of ownership. In this study, we come to the conclusion that private ownership is confirmed in all verses of the Quran, and based on verses such as 1 and 41 of Anfal, public ownership is also confirmed for some properties, that the government will be in charge of managing such properties, although the government is not the owner.
Seyedreza Hussaini, Masuod Davoodipur,
Volume 14, Issue 50 (3-2026)
Abstract
The pattern of consumption in conventional economy is drawn based on simplified principles such as worldly self-interest with material components and individual desirability. Behavioral economics, as a new approach in the field of economic behavior analysis, considers this approach unrealistic. With the aim of analyzing the behavioral approach to the consumption pattern in the framework of Islamic principles, this article answers the question, what are the most important capacities of behavioral studies in presenting the consumption pattern based on Islamic teachings? In the conducted studies of behavioral economics to explain why and how the pattern of consumption of components such as; It considers limited rationality, limited self-restraint and the absence of complete information, social norms, value beliefs and following past habits to better analyze and predict the reality of consumer behavior. Telangar theory is responsible for the architecture of consumer choice with the method of transforming the decision-making environment with a guardianship approach by recognizing the interests and interests of individuals and society. Based on the findings of this research, the introduction of Islamic economic teachings into the consumption pattern of behavioral economy includes things such as; Maximization of material, spiritual and hereafter benefits, belief in Islamic essentials and duties, self-restraint in both physical and spiritual dimensions, proof of moral virtues and negation of moral vices, and the necessity of information recommended by religion in consumer choice are the behavioral components of the decision-making environment based on Islamic principles. They complete and provide the basis for creating a flip.
Seyed Amin Tabatabaee Ghomsheh, Mostafa Salimifar, Taqi Ebrahimi Salari, Ali Saeedi,
Volume 14, Issue 50 (3-2026)
Abstract
The process of collecting and distributing funds has existed throughout history. In modern era, with the invention of credit money and the idea of capital in the capitalist system, banks were created to manage money and provide credit. Islamic scholars have offered different and sometimes opposing views on thismouseout="msoCommentHide('_com_1')" onmouseover="msoCommentShow('_anchor_1','_com_1')">[A1] mouseout="msoCommentHide('_com_2')" onmouseover="msoCommentShow('_anchor_2','_com_2')">[t2] issue. Shahid Mohammad Baqer Sadr was one of the first Islamic thinkers to address this matter in an organized way. He saw the need for banks in Islamic society and proposed two models: 1-A non-usurious banking model for non-religious societies, and 2-An Islamic banking model for Islamic societies. Despite the importance of Islamic banking in Sadr's work, little research has been done on it. This article uses a qualitative approach and a simple method based on the seven-step model of Sandelowski and Barroso to explain Sadr's banking model. First, the general structure of governance was outlined, and then Sadr’s model for Islamic banking was developed. The research included all of Sadr’s writings on economics and banking, totaling 92 articles. After selecting relevant ones, 39 articles were analyzed. The findings show four main areas in Islamic banking governance: rules (six categories: multiple ownership, limited economic freedom, social justice, free zone, prohibition of hoarding wealth, and wages), laws (four categories: ensuring real value in loans, banning private banking, promoting state control, banning usury, and taxing accumulated assets), the incentive system, and the structure for public Islamic banking services.
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