Islamic Economics

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Islamic Economics
Link to syllabus
Link to Encyclopedia of the Orient
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Ibn Khaldun
Tunis 1332- Cairo 1406 Islamic historian and
sociologist.Born into an elite family in what
is now Tunisia, he was a judge, teacher, and
diplomat. In his muqaddama, he wrote that
societies go on three generation cycles. Is
judged one of the first to have placed economic
factors as major causes. Taught at Al-Azhar in
Cairo. Left no school
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Analytics of an Islamic Macroeconomic System
Source Choudhury, Principles of Islamic
Political Economy
Link to Choudhurys web page
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Links to newspaper articles on Islamic mortgages
in Detroit area
FREEP 1
FREEP 2
FREEP3
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Islamic Banking Grows, With All Sorts of Rules
Hugh Pope. Wall Street Journal.  May 3, 2005.
In the past decade, Islamic banking has matured
from a tiny, sometimes controversial backwater
into an important current of global finance,
especially as Western bankers and borrowers
compete for the new funds gushing into the
Persian Gulf because of higher oil revenue. A
Citigroup Inc. unit now operates what is
effectively the world's largest Islamic bank in
terms of transactions. Some 6 billion of
Citibank deals now have been structured and
marketed in conformance with Islamic laws since
starting out in 1996. HSBC Holdings PLC, Deutsche
Bank AG, ABN Amro Holding NV, Societe Generale
SA, BNP Paribas and Standard Chartered also
have established Islamic banking units in the
past few years.
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WORLD ISLAMIC BANKING COMPETITIVENESS REPORT
2005' RELEASED
Al Bawaba. London Dec 11, 2005
In 2004 Islamic Banks continued to grow much
faster than their respective conventional
counterparts. However, despite some improvements,
the profitability of Islamic banks generally
remained below that of their conventional peers.
This gap will increasingly be high on the agenda
of Islamic Bank CEOs the current high valuation
of Islamic banks indicates strong market
expectations for future growth and profits. If
Islamic banks are to capture this opportunity,
appealing to a broader consumer base will be key.
So far Islamic banks have managed to capture
customers who have a strong preference for
Shari'ah- compliant products. Going forward, they
will have to broaden their appeal to customers
who are interested in Shari'ah-compliant products
but are not ready to sacrifice returns, service
or convenience.
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Examples of Islamic Financial Agreements
Source Siddiqi (1999) The Growing Popularity of
Islamic Banking, Middle East
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Summary of article in EJ on IE and riba
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Average Cost Pricing in Islamic Economics
Source Choudhury, Principles of Islamic
Political Economy
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Conclusion on efficiency of Islamic Banks
Source Iqbal and Molyneux, Thirty Years of
Islamic Banking, p.104.
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Efficiency of Islamic Banks Malaysia
Source Saiful Azhar Rosly and Mohd Afandi Abu
Bakar, Performance of Islamic and Mainstream
Banks in Malaysia, Intl Journal of Social
Economics 2003 11/12
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Efficiency of Islamic Banks Malaysia
Source Saiful Azhar Rosly and Mohd Afandi Abu
Bakar, Performance of Islamic and Mainstream
Banks in Malaysia, Intl Journal of Social
Economics 2003 11/12
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Efficiency of Islamic Banking Malaysia
Source Saiful Azhar Rosly and Mohd Afandi Abu
Bakar, Performance of Islamic and Mainstream
Banks in Malaysia, Intl Journal of Social
Economics 2003 11/12
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Efficiency of Islamic Banking-1
Source Iqbal and Molyneux, Thirty Years of
Islamic Banking, p. 99 Ultimate source is Al
Shammari Ph.D. dissertation, Univ. of Wales,
Bangor
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Efficiency ofIslamic Banking-2
Source Iqbal and Molyneux, Thirty Years of
Islamic Banking, p. 100 Ultimate source is Al
Shammari Ph.D. dissertation, Univ. of Wales,
Bangor
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Efficiency of Islamic Banking-3
Source Iqbal and Molyneux, Thirty Years of
Islamic Banking, p. 101 Ultimate source is a
working paper at Univ. of Wales, Bangor.
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Efficiency of Islamic Banking-4
Source Iqbal and Molyneux, Thirty Years of
Islamic Banking, p. 102 Ultimate source is a
working paper at Univ. of Wales, Bangor.
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Link to Islamic Development Bank
http//www.isdb.org/irj/portal/anonymous
The Islamic Development Bank (IDB) is a
Multilateral Development Bank (MDB), established
to foster the economic development and social
progress of its member countries and Muslim
communities in non-member countries in accordance
with the principles of Shari'ah (Islamic Law).
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Link to Grameen Bank
http//www.grameen-info.org/
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Timur Kuran Why the Middle East is Economically
Underdeveloped, 2004 article in JEP
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(No Transcript)
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Ibn Khaldun in his study