Comments 'on 'Public-Expenditure in an Islamic State' by M.N. Sıddıqi
Paper presented to the International Seminar on Fiscal Policy .and Development Planning organised by I.I.I.E. at Islamabad .in July 1986. Argues that Şiddîqîs Suggestions for demand management and capital formation by the Islamic state are not well-founded. The application of ƒarq kiƒäya also needs elaboration. For Muslim econornists. Documented.
Comments on Ghifari and Muzaffar’s paper ‘Ijarah and Its Modern Applications’
Paper presented to the Seminar on Islamic Financing Techniques organised by I.I.I.E. at Islamabad in December 1984. Reviews the paper critically. Points out that the authors have not stated the Shari'a position on various forms of leasing prevalent these days. Suspects some of the economic implications of ijara pointed out by the authors. Recommends operating-lease arrangements for foreign aid. Documented. For bankers and economists.