The Muslim Private Sector In Southeast Asia

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.

Well over half of the world's Muslim population lives in Asia. Over the centuries, a rich constellation of Muslim cultures developed there and the region is currently home to some of the most dynamic and important developments in contemporary Islam. Despite this, the internal dynamics of Muslim societies in Asia do not often receive commensurate attention in international Islamic Studies scholarship. This volume brings together the work of an interdisciplinary group of scholars discussing various aspects of the complex relationships between the Muslim communities of South and Southeast Asia. With their respective contributions covering points and patterns of interaction from the medieval to the contemporary periods, they attempt to map new trajectories for understanding the ways in which these two crucial areas have developed in relation to each other, as well as in the broader contexts of both world history and the current age of globalization.

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.

This volume investigates the appropriate position of Islam and opposing perceptions of Muslims in Southeast Asia. The contributors examine how Southeast Asian Muslims respond to globalization in their particular regional, national and local settings, and suggest global solutions for key local issues.

The Islamic economic system places a high premium on human initiative in a manner consonant with the tenets of Islam. The Islamic perspective of the private sector is an interesting one; while the acquisition of wealth through legitimate means is permitted, there is the need to drive a middle course between profit maximization, and social and religious responsibility. In Islamic states, the private sector generally operates in ways consonant with Islam. In the non-Islamic states of Southeast Asia where there are, nevertheless, large Muslim communities, the Islamic private sector functions in a larger economic context which is not based on Islamic economic principles. In this volume, case studies from Indonesia, Malaysia, the Philippines, Singapore, and Thailand provide valuable insights not only into ways in which Southeast Asian Muslims attempt to resolve conflicts between Islamic economic theory and practice, but also into the socio-economic structures of Muslim communities in the region.

Examines the role, relevance and challenges, as well as the political and strategic dimensions of Islam in contemporary Southeast Asia.