FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W779531> ?p ?o ?g. }

• W779531 startingPage "3" @default.
• W779531 abstract "I. INTRODUCTION The first Islamic financial institution was a mutual savings bank formed in the Egyptian town of Mit Ghamar in 1963. Since then, Islamic finance has evolved into an adaptive system of international practices and regulations capable of harmonizing classical religious precepts, social responsibility, and traditionalism with the modern exigencies of globalized banking. Today, according to the International Monetary Fund, there are over 300 Islamic financial institutions in more than 75 countries with total assets worldwide exceeding $250 billion and growth rates exceeding 15 percent a year.1 As of June 2006, Moody's estimated that there are over 250 Islamic mutual funds, with a total of $300 billion in assets.2 Despite this scope and imprint on the global economy, Islamic finance remains poorly understood at both the theoretical and practical level. Moreover, despite a number of recent optimistic trends, Islamic finance faces several ideological and structural challenges to full integration in the globalized economy. This Article aims to illuminate these challenges and provide a general overview of contemporary Islamic financial theories and practices. The first section concentrates on the size of the world's Muslim population, the size of Muslim economies, and concepts of Islamic finance itself. The second section examines Muslim beliefs related to contemporary corporate finance. The third section looks at the challenges of Islamic finance. Security issues in Islamic finance, with a particular focus on the financial theories of the radical Salafi movement, are an important development and need to be understood clearly in terms of the challenges facing Muslim financial instruments and law. Specifically, we examine the fundamental paradox of the Salafi's particular interpretation of Islamic finance. While Salafi-jihadist writings impose a sort of economic apartheid between Muslims and non-Muslims, their calls for economic jihad against the West (divestiture and boycott) try to exploit the very same interdependence and forces of globalization they decry. II. SCOPE OF MUSLIM POPULATION AND SIZE OF ECONOMIES Muslim people comprise over 20 percent of the world's population. Countries with Muslim-majority populations are distinguished by significant economic and political statistics. As a group they generate over 10 percent of global GDP and constitute 10 of the 11 members of OPEC. One member of this group, Turkey, also belongs to NATO. These countries are clustered mostly in the second and third quartiles of the Heritage Foundation/Wall Street Journal Index of Economic Freedom3 and receive an average rank of 111 out of 177 countries in the United Nation's Human Development Index (but include the lowest 5 in the index).4 These statistics demonstrate the economic and political importance and diversity of countries where Muslims are the majority. But juxtaposed against this complex tapestry is the common faith of Muslims, which is based primarily on two literary works. The most authoritative work is the Holy Qur'an, consisting of divine revelations by the Prophet Muhammad. Another primary source is the Sunnah, a collection of books organized into narrations of the life and lessons of the Prophet Muhammad. Among other things, these works establish the laws of daily social life for Muslims, collectively called Shari'ah. Rules are prescribed for marriage, diet, religious observation, dress, family obligations, and other issues that shape societal behavior. III. IMPACT OF MUSLIM BELIEFS ON MODERN CORPORATE FINANCE Shar'ah prescribes certain rules that apply to business practices, perhaps the best known being the Islamic ban on riba (interest or usurious interest). But Islamic finance is complex and is broadly defined as business practices with a base of rules that are generally consistent with Muslim beliefs. There are numerous ways that Shari'ah impacts business from a Western perspective. …" @default.
• W779531 created "2016-06-24" @default.
• W779531 creator A5046361080 @default.
• W779531 creator A5080181208 @default.
• W779531 creator A5090519324 @default.
• W779531 date "2007-01-01" @default.
• W779531 modified "2023-09-23" @default.
• W779531 title "Islamic Finance in a Global Context: Opportunities and Challenges" @default.
• W779531 hasPublicationYear "2007" @default.
• W779531 type Work @default.
• W779531 sameAs 779531 @default.
• W779531 citedByCount "11" @default.
• W779531 countsByYear W7795312012 @default.
• W779531 countsByYear W7795312013 @default.
• W779531 countsByYear W7795312014 @default.
• W779531 countsByYear W7795312015 @default.
• W779531 countsByYear W7795312017 @default.
• W779531 countsByYear W7795312018 @default.
• W779531 crossrefType "journal-article" @default.
• W779531 hasAuthorship W779531A5046361080 @default.
• W779531 hasAuthorship W779531A5080181208 @default.
• W779531 hasAuthorship W779531A5090519324 @default.
• W779531 hasConcept C10138342 @default.
• W779531 hasConcept C121955636 @default.
• W779531 hasConcept C138885662 @default.
• W779531 hasConcept C144024400 @default.
• W779531 hasConcept C149923435 @default.
• W779531 hasConcept C151730666 @default.
• W779531 hasConcept C162324750 @default.
• W779531 hasConcept C17744445 @default.
• W779531 hasConcept C191654821 @default.
• W779531 hasConcept C27206212 @default.
• W779531 hasConcept C2779343474 @default.
• W779531 hasConcept C2779703888 @default.
• W779531 hasConcept C2908647359 @default.
• W779531 hasConcept C2991718497 @default.
• W779531 hasConcept C35278167 @default.
• W779531 hasConcept C4445939 @default.
• W779531 hasConcept C86803240 @default.
• W779531 hasConceptScore W779531C10138342 @default.
• W779531 hasConceptScore W779531C121955636 @default.
• W779531 hasConceptScore W779531C138885662 @default.
• W779531 hasConceptScore W779531C144024400 @default.
• W779531 hasConceptScore W779531C149923435 @default.
• W779531 hasConceptScore W779531C151730666 @default.
• W779531 hasConceptScore W779531C162324750 @default.
• W779531 hasConceptScore W779531C17744445 @default.
• W779531 hasConceptScore W779531C191654821 @default.
• W779531 hasConceptScore W779531C27206212 @default.
• W779531 hasConceptScore W779531C2779343474 @default.
• W779531 hasConceptScore W779531C2779703888 @default.
• W779531 hasConceptScore W779531C2908647359 @default.
• W779531 hasConceptScore W779531C2991718497 @default.
• W779531 hasConceptScore W779531C35278167 @default.
• W779531 hasConceptScore W779531C4445939 @default.
• W779531 hasConceptScore W779531C86803240 @default.
• W779531 hasIssue "2" @default.
• W779531 hasLocation W7795311 @default.
• W779531 hasOpenAccess W779531 @default.
• W779531 hasPrimaryLocation W7795311 @default.
• W779531 hasRelatedWork W1514559220 @default.
• W779531 hasRelatedWork W1966249868 @default.
• W779531 hasRelatedWork W2001577782 @default.
• W779531 hasRelatedWork W2071758280 @default.
• W779531 hasRelatedWork W2184731612 @default.
• W779531 hasRelatedWork W2205473147 @default.
• W779531 hasRelatedWork W2481801954 @default.
• W779531 hasRelatedWork W2497975174 @default.
• W779531 hasRelatedWork W2521787124 @default.
• W779531 hasRelatedWork W2549988711 @default.
• W779531 hasRelatedWork W2624754656 @default.
• W779531 hasRelatedWork W2792285805 @default.
• W779531 hasRelatedWork W2902660326 @default.
• W779531 hasRelatedWork W2955617003 @default.
• W779531 hasRelatedWork W2997430605 @default.
• W779531 hasRelatedWork W3113117544 @default.
• W779531 hasRelatedWork W3209954638 @default.
• W779531 hasRelatedWork W345331372 @default.
• W779531 hasRelatedWork W984157997 @default.
• W779531 hasRelatedWork W304091279 @default.
• W779531 hasVolume "7" @default.
• W779531 isParatext "false" @default.
• W779531 isRetracted "false" @default.
• W779531 magId "779531" @default.
• W779531 workType "article" @default.