Economics Business And Islamic Finance In Asean Economics Community

The economic integration of Southeast Asia or ASEAN Economic Community (AEC) offers enormous opportunities for its members to develop and collectively collaborate with other economies. Combining the culture of the region with global business in an expanding digital atmosphere, however, has caused numerous challenges on an international scale. Due to the importance of this economic player in Asia, research on key topics including Islamic economics, Islamic finance, technology, and cultural issues in doing business are essential to understand the ASEAN competitive landscape and its relations with other countries. Economics, Business, and Islamic Finance in ASEAN Economics Community is a pivotal reference source that explores key issues and enhances understanding of business and economics in the ASEAN community and explores the collaboration between this community and Islamic finance and technology. While highlighting topics such as global business, smart manufacturing, and human resource management, this publication explores sustainable development practices as well as the methods of cultural appreciation in economics. This book is ideally designed for deans, heads of department, directors, politicians, policymakers, economists, corporate heads, senior general managers, managing directors, information technology directors and managers, libraries, academicians, researchers, and students.

Islamic banking is the result of the untiring search for interest-free alternatives to conventional banking and it has been successfully introduced in the Middle East. However, in Southeast Asia, where there are large Muslim communities, Islamic banks are to be found only in Malaysia and the Philippines. Nevertheless, there is considerable interest in the possibility of establishing banking institutions and practices consonant with Islam in other countries in the region. In this book, scholars evaluate the role and performance of Islamic banking in Southeast Asia and examine the problems and prospects of establishing Islamic banks in countries where such banking does not exist.

New Developments in Islamic Economics: Examples from Southeast Asia investigates the latest developments in a vibrant and fast-moving area of practical financial and economic study. This book is primarily focused on Malaysian contexts, while also presenting perspectives from Indonesia and Thailand.

The current dynamics of world economy show remarkable changes in the socio-economics of credit provision and entrepreneurship. If the emergence of the sharing economy is fostering innovative models of collaborative agency, networking and venture business, economic actors are also looking for a more sustainable development, able to foster profitability as well as community welfare. This book investigates Islamic social finance as a paramount example of this economy under change, where the balance between economic efficiency and social impact is contributing to the transformation of the market from an exchange- to a community-oriented institution. The collected essays analyse the social dimension of entrepreneurship from an Islamic perspective, highlighting the extent to which the rationales of "sharing," distribution and cooperation, affect the conceptualization of the market in Islam as a place of "shared prosperity." Moving from the conceptual "roots" of this paradigm to its operative "branches," the contributing authors also connect the most recent trends in the financial market to Shari‘ah-based strategies for community welfare, hence exploring the applications of Islamic social finance from the sharing economy, FinTech and crowdfunding to microcredit, waqf, zakat, sukuk and green investments. An illuminating reference for researchers, practitioners and policy-makers dealing with the challenges of a global market where not only is diversity being perceived as a value to be fostered, but also as an important opportunity for a more inclusive economy for everybody.

In June 2010 IE Business School, with King Abdulaziz University, gathered in Madrid some of the world's foremost scholars, academics and practitioners of Islamic Economics and Finance. These highlights of the symposium and original articles specifically address the post-crisis application of this growing and relevant economic philosophy in Europe.

The book is a collection of chapters discussing the Sustainable Development Goals in the broader context of Islamic finance along with mapping the SDGs with Maqasid Al-Shariah. It provides a framework for both Muslim and non-Muslim countries to develop a sustainable economy which encompasses not only the concept of the welfare state but also supports development-related activities, ensures financial inclusion through equal distribution of wealth and alleviation of poverty, and protects the overall environmental and ecological system. More specifically, this book explores various aspects of Islamic finance in relation to parameters of SDGs; restructuring of Islamic finance and connecting its dots in the light of SDGs; Islamic perspective on ESG and ecological quality; interest-free tools and modernization of Islamic financial institutions for sustainable development and economic stability; and the role of Islamic finance in infrastructure-related development activities. Consistent with the view that SDGs are embedded within the theme of Islamic finance, this book is specifically designed to meet the needs of key regulatory institutions, academic scholars, and industry practitioners both in the field of Islamic finance and sustainable finance.​

The Islamic economy may be broadly divided into three main sectors: the government, the commercial, and the voluntary. In Islamic states, these sectors play complementary roles in accordance with the tenets of Islam. In the non-Islamic states of Southeast Asia where there are, nevertheless, large Muslim communities, the Islamic voluntary sector has to assume greater responsibilities if the economic welfare and development of Muslim communities in the region are to be consonant with Islam. In this volume, several scholars examine the role of the Islamic voluntary sector (broadly defined) in Indonesia, Malaysia, the Philippines, Singapore. and Thailand, and explicate issues such as the mobilization, administration, and management of zakat and its various forms, waqf, and saddaqah.

Islamic finance is growing at an astonishing rate and is now a $1200 billion industry, with operations in over 100 countries. This book explains the paradox of a system rooted in the medieval era thriving in the global economy. Coverage is exhaustively comprehensive, defining Islamic finance in its broadest sense to include banks, mutual funds, securities firms and insurance (or takaful) companies. The author places Islamic finance in the context of the global political and economic system and covers a wide variety of issues such as the underlying principles of Islamic finance, the range of Islamic financial products, and country differences. He also discusses a number of economic, political, regulatory and religious concerns and challenges. This second edition has been completely revised and updated to take into account the great changes and developments in the field in recent times. It includes the impact of the 9/11 and 7/7 terrorist attacks on the industry, the new forms of interaction with Western financial institutions, the emergence of innovative products such as sukuk, attempts by a broad range of financial centres - including Kuala Lumpur, London, Singapore, Bahrain and Dubai - to become global hubs of Islamic finance, and the repercussions of the 2008 global financial meltdown on Islamic institutions.