This study examines the travel book written by Ibn Jubair in terms of Islamic public finance history. There is an intense interest in Islamic economics today. However, this interest unfortunately only focuses on certain areas such as Islamic finance by neglecting the history of Islamic public finance. Therefore, there is a gap in the literature in terms of Islamic public finance history. To contribute to the filling of this gap, the present study deals with Ibn Jubair's travel book from the perspective of Islamic public finance history. In his book, Ibn Jubair argued the elements that make up public finance, from public revenues to public expenditures and the administration of public finances. Heavy taxes and unfair practices against taxpayers were the subjects that Ibn Jubair strongly criticized. Ibn Jubair, for instance, used definitions of heinous, damned, and iniquitous about customs duties on pilgrims. On the other hand, Ibn Jubair, who also elaborated on the types of public spending, attached great importance to the spending made by foundations and wealthy people in the society for financing public spending. As a result, it is regarded that these resources used in the financing of public spending can also contribute significantly to today’s economy.
{"title":"The History of Islamic Public Finance through the Eyes of Globetrotter: The Travels of Ibn Jubair","authors":"Şahin Yeşilyurt","doi":"10.54427/ijisef.1103107","DOIUrl":"https://doi.org/10.54427/ijisef.1103107","url":null,"abstract":"This study examines the travel book written by Ibn Jubair in terms of Islamic public finance history. There is an intense interest in Islamic economics today. However, this interest unfortunately only focuses on certain areas such as Islamic finance by neglecting the history of Islamic public finance. Therefore, there is a gap in the literature in terms of Islamic public finance history. To contribute to the filling of this gap, the present study deals with Ibn Jubair's travel book from the perspective of Islamic public finance history. In his book, Ibn Jubair argued the elements that make up public finance, from public revenues to public expenditures and the administration of public finances. Heavy taxes and unfair practices against taxpayers were the subjects that Ibn Jubair strongly criticized. Ibn Jubair, for instance, used definitions of heinous, damned, and iniquitous about customs duties on pilgrims. On the other hand, Ibn Jubair, who also elaborated on the types of public spending, attached great importance to the spending made by foundations and wealthy people in the society for financing public spending. As a result, it is regarded that these resources used in the financing of public spending can also contribute significantly to today’s economy.","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"42 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114032370","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Capital markets represent the second main application area of Islamic finance after the banking sector. The most important instrument traded in these markets is stocks. The character of companies is important on the legitimacy (shariah compliance) of investing in stocks. The fact that the companies with a completely Shariah compliant structure are few in number brings about investing in mixed companies that carry out Shariah non-compliant activities even though their main activity is legitimate. Depending on this necessity, companies are allowed to carry out financial activities that do not comply with Shariah principles to a certain extent. In this context, thresholds are used within the scope of Shariah screening to determine the level of non-compliant elements to Shariah in the company. There are two different approaches to determining thresholds; the minority-majority-centered approach and the necessity-centered approach. The first approach uses Shar'i evidence showing the less or more borderline when setting thresholds for all analysis of Shariah screening. The necessity-centered approach, on the other hand, focuses on determining the amount of necessity based on market data. Both methods contain methodological problems in the threshold determination processes. This study aims to reveal the problems of both methods and to propose the sectoral necessity-centered method as an alternative.
{"title":"A Critical Review of the Thresholds of Sharia Screening for Stocks","authors":"Batuhan Buğra Akartepe","doi":"10.54427/ijisef.1129328","DOIUrl":"https://doi.org/10.54427/ijisef.1129328","url":null,"abstract":"Capital markets represent the second main application area of Islamic finance after the banking sector. The most important instrument traded in these markets is stocks. The character of companies is important on the legitimacy (shariah compliance) of investing in stocks. The fact that the companies with a completely Shariah compliant structure are few in number brings about investing in mixed companies that carry out Shariah non-compliant activities even though their main activity is legitimate. Depending on this necessity, companies are allowed to carry out financial activities that do not comply with Shariah principles to a certain extent. In this context, thresholds are used within the scope of Shariah screening to determine the level of non-compliant elements to Shariah in the company. There are two different approaches to determining thresholds; the minority-majority-centered approach and the necessity-centered approach. The first approach uses Shar'i evidence showing the less or more borderline when setting thresholds for all analysis of Shariah screening. The necessity-centered approach, on the other hand, focuses on determining the amount of necessity based on market data. Both methods contain methodological problems in the threshold determination processes. This study aims to reveal the problems of both methods and to propose the sectoral necessity-centered method as an alternative.","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127591119","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Türkiye’deki Konvansiyonel ve Katılım Bankacılığının Karşılaştırmalı Analizi: Ücret ve Komisyon Gelirleri, Mevduat Faizleri ve Kârlılık","authors":"Resul Aydemir, Mehmet Kadıoğlu, Gökhan Övenç","doi":"10.54427/ijisef.1032979","DOIUrl":"https://doi.org/10.54427/ijisef.1032979","url":null,"abstract":"","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121309337","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Katılım ve Konvansiyonel Endekslerin Fiyat Balonları Açısından Test Edilmesi: Kovid-19 Dönemi Türkiye’den Ampirik Kanıtlar","authors":"Recep Çakar","doi":"10.54427/ijisef.1057115","DOIUrl":"https://doi.org/10.54427/ijisef.1057115","url":null,"abstract":"","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121126715","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Effect of Human Development Index and Net Participation Rate on the Percentage of Poor Population: A Case Study in Riau Province, Indonesia","authors":"Zulfikar Hasan","doi":"10.54427/ijisef.964861","DOIUrl":"https://doi.org/10.54427/ijisef.964861","url":null,"abstract":"","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129127263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Profitability of Islamic Banking – A Study of Select Islamic Banks from Asia","authors":"Mohammedebrahim Malek, G. Rao","doi":"10.54427/ijisef.1027563","DOIUrl":"https://doi.org/10.54427/ijisef.1027563","url":null,"abstract":"","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124676399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muslims have been facing many challenges in the last century where economic systems have been of main challenge. Even though not defined precisely in terminology and naming Muslims have always worried for performing economic activities according to Islam. Yet this has been hard to be done after Muslims have lost the governance attached to religion thus opening the way towards colonialism politically, economically, and culturally. As a result, Muslim societies throughout the world were imposed different economic systems that were in contradiction with the spirit of Islam. As a way out, Muslim societies were motivated to make movements towards establishing an economic system that complies with Islam. Being a challenge for establishing another challenge has been proper naming. Concerns related to naming Islamic economy even though debated many times because of different reasons, circumstances, and timeframes have been brought as an issue up to our living days . In this paper, we mainly focus on trying to provide solutions on the proper naming of the Islamic economy. At the same time, we dwell on the journey that this challenge has gone through. Firstly, we have looked at the usage and representativeness of several names such as economy, oiconomia, economics, political economy, and moral economy. Then we have continued debating the use of the name iqtisad over the name economy. Additionally, we have advocated the usage of the prefix Islamic . We briefly glanced at the reasons for the decline in Muslim society. Narratively we have looked at contributors in the field of Islamic economics. We have conducted qualitative research, and mostly we have focused on the analysis of the theoretical framework.
{"title":"Challenges in Naming the Discipline: Are there any other Alternatives to \"Islamic Economics\"?","authors":"Rexhail Mustafi̇","doi":"10.54427/ijisef.1016100","DOIUrl":"https://doi.org/10.54427/ijisef.1016100","url":null,"abstract":"Muslims have been facing many challenges in the last century where economic systems have been of main challenge. Even though not defined precisely in terminology and naming Muslims have always worried for performing economic activities according to Islam. Yet this has been hard to be done after Muslims have lost the governance attached to religion thus opening the way towards colonialism politically, economically, and culturally. As a result, Muslim societies throughout the world were imposed different economic systems that were in contradiction with the spirit of Islam. As a way out, Muslim societies were motivated to make movements towards establishing an economic system that complies with Islam. Being a challenge for establishing another challenge has been proper naming. Concerns related to naming Islamic economy even though debated many times because of different reasons, circumstances, and timeframes have been brought as an issue up to our living days . In this paper, we mainly focus on trying to provide solutions on the proper naming of the Islamic economy. At the same time, we dwell on the journey that this challenge has gone through. Firstly, we have looked at the usage and representativeness of several names such as economy, oiconomia, economics, political economy, and moral economy. Then we have continued debating the use of the name iqtisad over the name economy. Additionally, we have advocated the usage of the prefix Islamic . We briefly glanced at the reasons for the decline in Muslim society. Narratively we have looked at contributors in the field of Islamic economics. We have conducted qualitative research, and mostly we have focused on the analysis of the theoretical framework.","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114347469","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Borç/Alacak Satışına (Bay’al-Dayn) Dayalı Dış Ticaret Uygulamaları ve Faizsiz Finans Prensiplerine Uyumu","authors":"Fatih Kazanci","doi":"10.54427/ijisef.1009473","DOIUrl":"https://doi.org/10.54427/ijisef.1009473","url":null,"abstract":"","PeriodicalId":136568,"journal":{"name":"International Journal of Islamic Economics and Finance Studies","volume":"103 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114499002","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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