Salman Ahmed Shaikh's Blog, page 14

A Reflection of Divine-based Islamic Economics

This paper provides reflection on Islamic economics and rightly concludes that a lot of work needs to be done in providing distinct story of why financial and economic crises happen and what Islamic economics can offer through its principles, values, instruments and markets.

Highlights of IPCC Climate Change Report 2023

The report recognizes the interdependence of climate, ecosystems and biodiversity, and human societies; the value of diverse forms of knowledge; and the close linkages between climate change adaptation, mitigation, ecosystem health, human well-being and sustainable development, and reflects the increasing diversity of actors involved in climate action.

Do Islamic Microfinance Institutions Affect the Socio-economic Development of the Beneficiaries

This paper aims to investigate the effect of Islamic microfinance on poor households through the case of the IKSAR Qard al-Hasan Program in Turkey. It examined the changes in the socio-economic status of beneficiaries before and after the program. The study indicated that Islamic microfinance and qard al-hasan, which were combined in the IKSAR Qard al-Hasan Program, have direct and indirect positive effects on the borrowers.

Highlights of Global Sustainable Development Report 2023

This report is a call to accept transformations with the instantly needed to accelerate progress toward the Sustainable Development Goals. The last report was published in 2019 after that many challenges have arrived, progress has been restricted in many areas, partly as a consequence of a confluence of crises – the ongoing pandemic, rising inflation and the cost-of-living crisis, environmental and economic distress, along with regional and national unrest, conflicts, and natural disasters.

Islamic Sustainable and Responsible Investment Criteria

This study explores the need for developing socially responsible investment criteria in Islamic finance. There is global attention given to environmental sustainability.

Highlights of IFSB Report 2023

The IFSB’s Islamic Financial Services Industry (IFSI) Stability Report 2023 presents an assessment of the key vulnerabilities, resilience, and future outlook of the global IFSI in general and in the IFSB member jurisdictions in particular across three key segments: Islamic banking, Islamic capital market and Takaful.

How Diverse are Shariah Supervisory Boards of Islamic Banks?

This study aims to examine diversity in the composition of Shariah supervisory boards (SSBs) of Islamic banks (IBs). It investigates diversity from two perspectives: existing composition of SSBs and the regulatory frameworks and standards of selected Organization of Islamic Cooperation countries. Diversity characteristics include education, nationality, gender and age.

Dealing with Climate Challenge

Because of mere fate, a lot of people in the world, including Pakistan, have ended up in a position where they bear the torment of heat without much to do about it. They can not operate air-conditioners even when the temperature flares up and beyond the 35℃. Many do not even have one. “A man has only a certain capacity for battling with fate’, said Wodehouse. Well! this capacity is amazingly high in some people. But, there is still a long waiting period.

A Commentary on Divine Economics

Contemporary economics considers rationality only in the context of this world without any regard to the life after death. Nonetheless, more than 90% of the people in the world are associated with any of the different religions and in most divine religions, there is concept of afterlife. The common definition of rationality would not describe their behavior as rational. This would be a violation of the basic assumption that economic agents are rational.

Critical Analysis of Conceptual Background of Shariah Governance for Islamic Banking and Finance

This paper highlights the importance and role of Shariah governance in regulating the practice of Islamic banking and keeping it standardized and stable with the trust of key stakeholders.