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ISRA International Journal of Islamic Finance
Purpose The purpose of this paper is to explore the causes and impact of predatory online publishing on Islamic economics and finance. Design/methodology/approach The method adopted involves a library literature scan to identify the origin and expansion of predatory publishing, as references listed in the paper show. The personal experience and observation of the author over the decades of teaching at various universities endorses the evidence. Findings The focus on “publish or perish” has led to division of Islamic scholars into conservative and modern economists, and it led to the overuse of mathematical and parametric modeling to the disadvantage of the discipline essentially imbued with unquantifiable ethical norms and values. Practical implications The study seeks to induce fruitful and purposive change in the research designs and direction of Islamic economics and finance. Originality/value This research initiates discussion on predatory publishing, an issue so far untouched i...
Purpose-The purpose of this paper is to discuss the methodology of integrated knowledge in Islamic economics and finance and seek to offer collective ijtihad as one way to find solutions to the existing problems in the field. Design/methodology/approach-The study is based on the idea of multidisciplinarity or interdisciplinarity, which uses not only traditional sources of Islam and economics, such as u Á sūl al-fiqh, fiqh mu'amalat, econometrics, statistics, microeconomics and macroeconomics but also looks into behavioural and natural sciences for inspiration and solutions. This paper is constructed using the methodology of "the two readings", as promoted by the International Institute of Islamic Thought, and which combines the revealed and the existential sciences. Findings-This paper proposes the collaborative multidisciplinary methodology as the main approach to studying the modern problems and challenges, as well as for finding solutions in the fields of Islamic economics and finance. Practical implications-Studying and researching issues, particularly in the field of Islamic economics and finance, from an interdisciplinary perspective, effectively broadens practical applications and possibilities in Islamic finance. Originality/value-This paper contributes to social sciences, especially the field of Islamic finance, and calls upon researchers to engage in multidisciplinary studies.
2008 •
The present paper attempts to study the economic and financial crises of 15th century Egypt, which was ruled by Mamluk dynasty. Two social thinkers of the time – al-Maqrizi at the beginning of the century and al-Asadi at the middle – addressed the situation. To the former, deterioration of Egypt’s monetary system was the single most important cause of its economic and financial difficulties. As a panacea, he prescribed a return to gold and silver standard and restricting copper coinage to petty transactions. The latter divided the factors responsible for economic and financial crises into socio-economic factor and monetary factor. He advocated for an overall reform and strict management of the whole economy. The main financial problem, in his opinion, was debasement of currency leading to unrestricted supply of money, not the issue of copper coins. The paper concludes with an appraisal of their diagnosis of the problem, the solution suggested by them and the lessons learned from them.
Abstract - Mainstream economics postulates the concept of scarcity as a defining notion, while heterodox economics denies the proposition of scarcity. In contrast, there is no clear stand among Islamic economists towards the concept of scarcity. This paper explores the concept of scarcity ideologically and examines empirically the effect of scarcity thinking on human wants. The concept of scarcity is one of the unresolved issues in Islamic economics. Conceptually, this paper aims to explore and uncover the ideological basis of the concept of scarcity in the writings of Malthus and Robbins with reference to the Islamic perspective. In so doing, analysis of texts was performed. In contrast to positivism, which relies on sensible observation, this paper attempts to analyze the concept of scarcity and abundance from the perspectives of critical realism. Critical realism goes beyond the Seen phenomena to include elements from the Un-Seen reality. Empirically, this paper attempts to explore the effect of scarcity thinking on human wants among Muslims. With reference to social psychology and specifically to commodity theory, scarcity enhances desires in people. Consequently, this paper attempts to abstract scarcity thinking out of the concept of scarcity that defines mainstream economics. Scarcity thinking means that there is not enough for everyone to go around. In doing so, this paper has constructed a measurement strategy around Scarcity Thinking, Human Wants and Islamic Religiosity. The quantitative data used for this empirical research was collected through a questionnaire administered on 345 Muslim individuals working within the Federal Territory of Kuala Lumpur, Malaysia. A measurement and structural model were formulated through adopting the structural equation modeling approach (using AMOS version 18). This paper concluded that Scarcity Thinking enhances Human Wants significantly and has the opposite relationship to Islamic Religiosity. One major implication of this paper is that the concept of scarcity of mainstream economics reflects scarcity thinking in which Scarcity thinking is causing a dissonance between Islamic Religiosity of moderation in expenditure and excessive buying behavior of Human Wants. Therefore, the concept of scarcity and its thinking state inflates human wants and contradicts the Islamic worldview of cooperation and obedience. Keywords: scarcity thinking, religiosity, human wants, social psychology, heterodox economics
Publications
Efficiency of “Publish or Perish” Policy—Some Considerations Based on the Uzbekistan ExperienceResearchers from Uzbekistan are leading the global list of publications in predatory journals. The current paper reviews the principles of implementation of the “publish or perish policy” in Uzbekistan with an overarching aim of detecting the factors that are pushing more and more scholars to publish the results of their studies in predatory journals. Scientific publications have historically been a cornerstone in the development of science. For the past five decades, the quantity of publications has become a common indicator for determining academic capacity. Governments and institutions are increasingly employing this indicator as an important criterion for promotion and recruitment; simultaneously, researchers are being awarded Ph.D. and D.Sc. degrees for the number of articles they publish in scholarly journals. Many talented academics have had a pay rise or promotion declined due to a short or nonexistent bibliography, which leads to significant pressure on academics to publish...
ISLAMIC ECONOMICS AND …
Transparency and Market Discipline in Islamic Banks2007 •
Advances in Islamic Economics and Finance:(Volume 1) Proceedings of The 6th International Conference on Islamic Economics and Finance Noraini Mohd Ariffin* Simon Archer** Rifaat Ahmed Abdel Karim*** It is widely believed that market discipline is generally enhanced if the ...
ISLAMIC ECONOMICS AND FINANCE
Risk Measurement and Disclosure in Islamic Finance and the Implications of Profit Sharing Investment Accounts2007 •
Islamic economics as a subject has deep historical roots. However, the present body of knowledge known as 'Islamic economics' originated in the second half of the last century. During the last four decades, a lot of literature has appeared. However, most of it can be accepted as 'Islamic economic teachings' and not 'Islamic economics' as a social science. Based on this literature a beginning can be made in developing Islamic economics as a social science. The paper presents a tentative proposal for doing this.
The Seventh International Conference on Islamic …
Contributions of the Last Six ConferencesLoading Preview
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Scientometrics
A credit-like rating system to determine the legitimacy of scientific journals and publishers2021 •
2005 •
Journal of Islamic Banking and Finance
Effective Organizational Communication and Its Roles in Mitigating Shariah Non-Compliance Risks for Malaysian Takaful Operators (TOs)2018 •
International Journal of Islamic Economics and Finance (IJIEF)
Integration of Knowledge (IoK) Methodological Reasoning of Islamic Economics (IE) as the Wisdom of Humanity: A Heterodox Economic Approach2021 •
Cambridge Journal of Economics
The great crash of 2008 and the reform of economics2009 •
2019 •
International Journal of Islamic Economics and Finance
Modeling Islamic economics and finance research, A bibliometric analysis2021 •
International Journal of Pluralism and Economics Education
Foundational challenges in the construction of an Islamic economics discipline2015 •
2015 •
International Journal of Shari'ah and Corporate Governance Research
Islamic Economics Methodology Patterns of Reasoning and the Structure of TheoriesLibrary Philosophy and Practice
MATHEMATICAL MODELING ON ISLAMIC ECONOMICS AND FINANCE: A SCIENTOMETRIC2021 •
International Research Journal of Finance and Economics
Trade Liberalization and Labor Demand Elasticities: Empirical Evidence for EgyptAmwaluna: Jurnal Ekonomi dan Keuangan Syariah
Unraveling Hafas Furqani’s Thought About the Methodology of Islamic EconomicsEconomic Empowerment of Women in the Islamic World: Theory and Practice
Islamic Nano-Finance for the Very Poor by Women: Hopes for Addressing the Islamic Microfinance Gap2020 •
Review of Faith and International Affairs
The Review of Faith & International Affairs2021 •
African Research Review (AFRREV)
The Storm around Beall’s List: A Review of Issues Raised by Beall’s Critics over his Criteria of Identifying Predatory Journals and Publishers2019 •
Journal of the European Economic Association
Roundtable on Research and Higher Education in Economics Research and Higher Education in Economics: Can We Deliver the Lisbon Objectives?2007 •