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Article
Publication date: 9 November 2015

Mohd Mahyudi

– The paper aims to revive the Islamic economic system discourse given the increasing interest in the moral economy agenda.

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Abstract

Purpose

The paper aims to revive the Islamic economic system discourse given the increasing interest in the moral economy agenda.

Design/methodology/approach

Proponents of Islamic economics theorise that the Islamic system presents the ideal form of a socio-economic order. However, the reported huge gap between theoretical construct and real activities seems to support the critics’ claim that it is a mere utopian state that directly challenges the viability of the Islamic economy idea.

Findings

The fact of the matter is that homo economicus is overpowering homo Islamicus despite the presupposed position of homo Islamicus as the mainstay of Islamic economics.

Research limitations/implications

To manifest the Islamic economic system notion further, it is argued that a shariah-based values infusion policy (VIP) needs to be formulated to actualise the predominance of homo Islamicus.

Practical implications

Owing to the overarching and holistic nature of the proposed public policy, the operations of individuals, firms and state agencies should have the tendency to reflect the expected behaviour of homo Islamicus better than the present state of affairs.

Social implications

The success of the VIP would include the enhancement of social integration and cohesion.

Originality/value

The link between moral economy, homo Islamicus and public policy is clearly established. Thus, this research guides policy makers in promoting the Islamic economic system as a universally-aspired moral economy project.

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Article
Publication date: 21 November 2023

Mohamed Aslam Akbar, Mohamed Asmy Mohd Thas Thaker, Mustafa Omar Mohammed, Nik Hziman Nik Mat and Hassanuddeen Abd.Aziz

The purpose of this study is to address the lack of a proper database or finding system for scholars of Islamic economics (IE), as well as the dearth of literature on…

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Abstract

Purpose

The purpose of this study is to address the lack of a proper database or finding system for scholars of Islamic economics (IE), as well as the dearth of literature on bibliographic search and trend analyses of scholars in this field. This study aims to adopt a bibliometric review of the bibliography of experts in IE and scholars in disciplines allied to IE.

Design/methodology/approach

This study adopts a bibliometric review of the bibliography of experts in IE and scholars in disciplines allied to IE. The researchers collected data on scholars’ profiles and scholarly works and analyzed them to identify trends and patterns.

Findings

This study presents two main themes: the profiles of the scholars in IE and allied disciplines, and their scholarly works. The findings on the scholars’ profiles reveal that most scholars are contemporaries born between the 1940s and 1990s, concentrated in Malaysia and affiliated with the International Islamic University Malaysia. Regarding their scholarly works, the majority of their efforts resulted in 11,736 materials in the form of books, articles and conference papers spread across 13 sub-areas in IE.

Originality/value

This study fills the gap in literature by providing a database and finding system for scholars in IE and conducting a bibliographic search and trend analysis of scholars in this field. The findings shed light on the profiles of scholars and their scholarly works, which can guide future research in this area.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Available. Open Access. Open Access
Article
Publication date: 23 June 2022

Hafas Furqani and Abdelghani Echchabi

This paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.

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Abstract

Purpose

This paper aims to explain the nature of the economic agent in Islamic economics. He is commonly referred to as Homo Islamicus.

Design/methodology/approach

This is done by deriving the concept from the Qurʾān as the primary epistemological source in Islamic economics. The paper, thus, attempts to explore the message of the Qurʾān and internalize its concepts and values in their totality into the conception of the economic agent from an Islamic perspective.

Findings

The paper brings an insight regarding the nature of the economic agent in Islamic perspective. The concept of the economic agent that is developed from the Qurʾānic teachings will be useful in developing assumptions and theories in Islamic economics.

Research limitations/implications

This paper explores the normative behavioral framework of man from the Qurʾānic perspective (i.e. what is expected of man) in order to serve as the basis on which assumptions, concepts and theories could be produced and applied in real life. Further studies could extend the discussion by examining the application of the concepts in practice.

Practical implications

This paper promotes a normative behavioral framework that could be the basis in developing the body of knowledge of Islamic economics.

Originality/value

This paper promotes a concept of the economic agent in Islamic perspective, termed as Homo Islamicus, who is going to portray Islamic ethical teachings in economic actions. The paper brought insights from the Qurʾānic teachings and principles in developing the concept of Homo Islamicus who will be the representative agent in theorizing Islamic economics.

Details

ISRA International Journal of Islamic Finance, vol. 14 no. 2
Type: Research Article
ISSN: 0128-1976

Keywords

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Article
Publication date: 30 October 2018

Ram Al Jaffri Saad and Abubakar Umar Farouk

Muslims in Nigeria, like in many Muslim-majority countries, are striving to have a functional Zakat system in search of solutions to the perennial…

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Abstract

Purpose

Muslims in Nigeria, like in many Muslim-majority countries, are striving to have a functional Zakat system in search of solutions to the perennial problem of poverty and its damning consequences. Nevertheless, there are still unsettled concerns arising from the current and widespread implementation of dissimilar (diverse) approaches to the Zakat system in various parts of the country. The purpose of this paper is to review comprehensively what are the hindrances of a vibrant Zakat system and how far the identified impediments may affect the system in the Nigerian context.

Design/methodology/approach

The methodology adopted is the review of extant relevant literature in the field of scholarly publications.

Findings

The findings of this study revealed that the fragmented implementation of the Zakat system within the context of the Nigerian democratic system of government lead to the weak governance with respect to law, administration and management; lack of a generally accepted fatwa from the Muslims scholars (Ulamas); absence of Zakat accounting standard; and low compliance behavior are the major barriers that require the attention of government and other stakeholders such as the traditional leaders, the accounting regulatory bodies, the Ulamas, as well as the economic and accounting researchers.

Practical implications

It was recommended that the stakeholders should make concerted efforts toward ensuring success of the Zakat system for attaining salvation in the hereafter and for social security, as well as economic prosperity.

Originality/value

The paper is the first paper that comprehensively reviews previous literature in the Zakat environment on factors that become barriers to implement a comprehensive Zakat system in Nigeria.

Details

International Journal of Ethics and Systems, vol. 35 no. 1
Type: Research Article
ISSN: 2514-9369

Keywords

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