The Role of Stock Exchange in Islamic Financial System
Briefly outlines the role of the stock exchange. For a successful PLS-based financial market, an efficient secondary stock market is necessary. Some regulations need to be reformed. Speculation can be curbed only if information on the performance of companies is widely disclosed. It will alsobe necessary to bring in attitudinal changes in the people. A market stabilisation fund will be necessary to safeguard the stock market. For economists. Undocumented.
The Role of Stock Exchange in Islamic Financial System
Monetary and Financial Theory and Institutions
Mudaraba and its Modern Applications
Originally presented to the Seminar on Islamic Financing Techniques organised by I.I.I.E. at Islamabad in December 1984. The first part discusses the law of mudaraba. The second part describes its suitability for modern-day business, industry and banking. The most interesting part is the discussion of mudaraba companies’ law in Pakistan and an evaluation of the first Mudaraba company (Twin Towers) by Bankers Equity Limited in Pakistan. A comprehensive paper based on primary and secondary sources. Documented. For economists and bankers.
Islamization of Financial Institutions in Pakistan: Assessment
After a theoretical prelude on an interest-free economy, proceeds to discuss modes of interest-free banking in Pakistan. Reviews the progress of NIT, ICP and HBFC in interest-free finance. Descriptive. For general readers. Undocumented.
Islamic Banking, Problems and Prospects
Also printed in JIBF, Karachi (1:2) Spring, 1984, pp. 65-78 under the title ‘Instruments of Islamic Banking: An Evaluation. Argues that riba covers all types of increment on the principal. However, holds that some sort of indexation must be allowed to protect the saver against inflation. Discusses basic principles of Islamic banking. Describes instruments of Islamic banking as practised in Pakistan. Paper presented to the First Seminar on Islamic Banking held in Pakistan (March 24-25, 1984) organised by I.A.I.B. For general readers. Undocumented.
Islamization of Financial Institutions in Pakistan: Assessment
Monetary and Financial Theory and Institutions
Investment Financing in an Interest-free Economy
In an Islamic society consumption is a function of halal income and moderation. Saving is a desirable activity. A Muslim divides his or her income into consumption, saving and infaq. Investment financing in an interest-free framework requires development of such instruments as wouid encourage the saver as well as entail an acceptable cost to the entrepreneur. In the last part, explains the Pakistani law of Mudaraba companies. Also explains the operation of Participation Term Certificates (PTCS). For economists and bankers. Based on primary sources. Documented.
The Religious Import and Rationale of Zakat
Public Finance and Institutions
Some Aspects of the Introduction of Zakat
Public Finance and Institutions
Problems and Prospects of Development and Economic Cooperation among Islamic Countries
Discusses the state of economic development in Muslim countries using selected indicators. Analyses the problems of poverty and economic exploitation by developed countries. Proposes economic cooperation among Muslim countries as a solution. Makes several recommendations for action. Gives statistical appendices up to 1971 for 39 countries. Analytical. For economists. Documented.