IBEHAVIORAL ECONOMICS – EMOTIONS IN ECONOMIC DECISIONS Religion and Economics Can Islamic Banking be considered Rational? Emma Cornelis Corvinus University Budapest 12 May 2010 - Introduction - Classical economists ascribe complete rationality to the behavior of human beings. But do the things people do in life really make sense? According to the conventional ways of predicting human behavior and human choices‚ one would handle out of perfect self-interest and perfect rationality and
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relationship between fiqh and economics. However‚ bear in mind‚ the type of economy that will be discussed in this issue is Islamic Economics. In order to understand the relationship between fiqh and economics‚ we must first define the two terms. Fiqh is technically defined as understanding of the practical rules of shariah which has been deducted from their detailed evidences (Quran and Sunnah). It explains the rules of shariah in facing any kind of human activities. Islamic economics on the other
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Conventional Morality and Ethical Relativism I - Kohlberg’s Moral Development Theory The theory holds that moral reasoning‚ the basis for ethical behavior‚ has six identifiable developmental stages‚ each more adequate at responding to moral dilemmas than its predecessor. Kohlberg’s Theory of Moral Development | | | | | Level One: Pre-conventional Morality | Stage 1: Punishment-Obedience Orientation | | Stage 2: Instrumental Relativist Orientation | Level Two: Conventional
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the Shah and the Islamic fundamentalist regime are characterized as bad rulers of the Iranian people and it is difficult to say which was worse for the Iranian people. Satrapi seems to say that each regime is one side of the same coin. The Shah was brutal to his people‚ imprisoning many of the political revolutionists‚ in his attempt to maintain power and to serve Western interests. The Islamic regime used the same brutality for the same reasons in order to propagate a pure Islamic state. Marjane sees
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to express our deepest appreciation to Mr Zainal Azhar Bin Zainal Azim who is our lecturer for Islamic Finance on giving us the opportunity to work on the assignment and providing us with lots of support and guidance which has helped us to complete the assignment on time. This assignment has brought us in making lots of research and we came across to acquire new things about Islamic Finance and Islamic banking specifically. Nevertheless‚ we would also like to thank our fellow classmates who
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ScienceDirect Journal of Banking & Finance journal homepage: www.elsevier.com/locate/jbf Islamic vs. conventional banking: Business model‚ efficiency and stability Thorsten Beck a‚⇑‚ Asli Demirgüç-Kunt b‚ Ouarda Merrouche c a CentER‚ Department of Economics‚ Tilburg University and CEPR‚ The Netherlands World Bank‚ Development Research Group‚ United States c European Securities and Markets Authority‚ Economic Research and Financial Stability Unit‚ France b a r t i c l e i n f o Article
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1.2.1 Islamic Finance In this day and age‚ crisis and challenges had continuously interrupted the worldwide financial environment. However‚ Islamic finance remains as a tough and viable financial intermediation. Moreover‚ it has become more important in the international financial system. As a result of developing a comprehensive Islamic financial system‚ Malaysia has gain experiences which brought it ahead toward development as well as advancement of the industry. Furthermore‚ Islamic country
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INTRODUCTION TO ISLAMIC BANKING The term Islamic banking refers to a banking activity or a system of banking that is in consonance with the basic principles of Islamic Shariah (rules and values set by Islam). Islamic banking is also known as interest free banking system as the Shariah disallows the acceptance of “Riba” or interest rate for the accepting and lending of money. In Islamic banking system‚ a business that offers good interest rates or services is strictly prohibited and it
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[pic] ISLAMIC BANKING: IS IT REALLY “ISLAMIC”? By: Omar Mustafa Ansari & Faizan Ahmed Memon Is it really Islamic? …. In this era of development and growth in Islamic finance and banking‚ this is a question being raised at every forum by various quarters. All those who raise this question‚ are undoubtedly well-wishers of Islam‚ Islamic economic system and Muslim Ummah. Accordingly‚ while we celebrate the achievements of Islamic banking on one hand‚ we should not
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Customers towards Islamic Banks in Malaysia Abdul Aziz Abdullah Universiti Sultan Zainal Abidin Kuala Terengganu‚ Terengganu Malaysia Rokiah Sidek International Islamic University Malaysia Gombak‚ Kuala Lumpur Malaysia Ahmad Azrin Adnan Universiti Sultan Zainal Abidin Kuala Terengganu‚ Terengganu Malaysia Abstract Islamic banking products and services are gaining popularity among non-Muslims across the globe due to its wider product coverage and ability to traverse the global economic melt-down. However
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