نتائج البحث - "Islamic economics"

الوصف: Purpose Economic development is one of the primary goals of all countries. In this context, countries aim to determine effective and correct policies to achieve this goal. This situation is especially important for developing countries. These countries aim to grow their economies to reach the level of developed countries. This study aims to identify significant Islamic moral principles for sustainable economic growth of emerging seven (E7) countries. Design/methodology/approach In this framework, eight different criteria are defined to improve the welfare in the society for these countries. Additionally, fuzzy decision-making trial and evaluation laboratory (DEMATEL) approach is taken into consideration in the analysis process. Findings It is identified that Islamic moral values in economic activities, fair income distribution and taxation and prohibition of interest and securing business partnership are the most significant criteria. On the other side, it is found that preventing poverty and avoiding wastage are the influenced factors. Practical implications The findings show that righteousness in commercial activities decreases uncertainty in the market so that trade volume can be increased which contributes sustainable economic improvement. For this purpose, public awareness about the issue should be improved in the media and necessary trainings should be given to the people in their educations related to the business ethics. Furthermore, legal system in these countries should be improved to have fair income distribution and taxation. Additionally, social responsibility activities should be encouraged, so people with good income will help poor people. Moreover, business partnership system should be improved in which companies can obtain capital from the public and make necessary payments to these people according to the profit amount. This issue positively affects sustainability in economic improvement and welfare society for developing countries. Originality/value There are limited studies on sustainable economic development based on Islamic moral-based factors.

وصف الملف: application/pdf

URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::49b51783c646c0b6605571b31c4710d1
https://doi.org/10.1108/imefm-07-2019-0271

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9

Zakat administration in times of COVID-19 pandemic in Indonesia: a knowledge discovery via text mining

المؤلفون: Hairunnizam Wahid, Fahmi Ali Hudaefi, Rezzy Eko Caraka

المصدر: International Journal of Islamic and Middle Eastern Finance and Management. 15:271-286

مصطلحات موضوعية: Topic model, 050208 finance, Knowledge management, business.industry, media_common.quotation_subject, 05 social sciences, Unstructured data, Public interest, Knowledge extraction, Originality, Publishing, 0502 economics and business, Business, Islamic economics, 050207 economics, Business and International Management, Finance, media_common, Qualitative research

الوصف: Purpose Zakat during the COVID-19 outbreak has played a vital role and has been significantly discussed in the virtual environment. Such information about zakat in the virtual world creates unstructured data, which contains important information and knowledge. This paper aims to discover knowledge related to zakat administration during the pandemic from the information in a virtual environment. Furthermore, the discussion is contextualised to the socio-economic debates. Design/methodology/approach This is a qualitative study operated via text mining to discover knowledge of zakat administration during the COVID-19 pandemic. The National Board of Zakat Republic of Indonesia (BAZNAS RI) is selected for a single case study. This paper samples BAZNAS RI’s situation report on COVID-19 from its virtual website. The data consists of 40 digital pages containing 19,812 characters, 3,004 words and 3,003 white spaces. The text mining analytical steps are performed via RStudio. The following R packages, networkD3, igraph, ggraph and ggplot2 are used to run the Latent Dirichlet Allocation (LDA) for topic modelling. Findings The machine learning analysis via RStudio results in the 16 topics associated with the 3 primary topics (i.e. Education, Sadaqah and Health Services). The topic modelling discovers knowledge about BAZNAS RI’s assistance for COVID-19 relief, which may help the readers understand zakat administration in times of the pandemic from BAZNAS RI’s virtual website. This finding may draw the theory of socio-economic zakat, which explains that zakat as a religious obligation plays a critical role in shaping a Muslim community's social and economic processes, notably during the unprecedented times of COVID-19. Research limitations/implications This study uses data from a single zakat institution. Thus, the generalisation of the finding is limited to the sampled institution. Practical implications This research is both theoretically and practically important for academics and industry professionals. This paper contributes to the novelty in performing text mining via R in gaining knowledge about the recent zakat administration from a virtual website. The finding of this study (i.e. the topic modelling) is practically essential for zakat stakeholders to understand the contribution of zakat in managing the COVID-19 impacts. Social implications This work derives a theory of “socio-economic zakat” that explains the importance of a zakat institution in activating zakat for managing socio-economic issues during the pandemic. Thus, paying zakat to an authorised institution may actualise more maslahah (public interest) compared to paying it directly to the asnaf (zakat beneficiaries) without any measurement Originality/value This study is among the pioneers in gaining knowledge from Indonesia’s zakat management during the COVID-19 outbreak via text mining. The authors’ way of analysing data from the virtual website using RStudio can advance Islamic economics literature.

URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_________::a82cc05e99758ec826a92a76ea6bb219
https://doi.org/10.1108/imefm-05-2020-0250

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10

The approach of Islamic economists to the prohibition of interest in the context of Böhm-Bawerk’s time preference theory of interest

المؤلفون: Cem Eyerci

المصدر: International Journal of Islamic and Middle Eastern Finance and Management. 15:18-31

مصطلحات موضوعية: 050208 finance, 0502 economics and business, 05 social sciences, Economics, Context (language use), Islam, Islamic economics, 050207 economics, Business and International Management, Positive economics, Time preference, Finance

الوصف: Purpose Böhm-Bawerk’s time preference approach had significant importance among many other theories of interest. His assertion based on inherent human nature and the distinction he made between the positive and normative aspects of interest were remarkably authentic. As it is assumed that any efficient evaluation, judgment or regulation on the legitimacy of interest has to consider the theory of time preference, especially Böhm-Bawerk’s approach, the paper aimed to examine the Islamic economists’ response to the time preference theory of interest. Design/methodology/approach The paper presents Böhm-Bawerk’s time preference theory of interest. Then, it evaluates the Islamic economists’ views on the concepts of the time value of money and time preference qualitatively by scrutinizing the relevant literature. Findings It is observed that there is not any proper response of Islamic economists to the assertions of the causes of time preference. Responding to such challenges requires an approach that is mostly developed in the positive domain. Originality/value Although it is evident that interest is regarded as destructive in Islamic economics, the consideration is primarily normative. However, a convincing assertion also requires to be justified in the positive domain. Empirical works are exhibiting the problems with interest-based transactions. Besides, this paper raises the need for theoretical expositions of Islamic economists in response to the interest theories, which claim that the existence of interest is inevitable.

URL الوصول: https://explore.openaire.eu/search/publication?articleId=doi_________::c1ceb5c09ababd17e7c699416993d971
https://doi.org/10.1108/imefm-05-2020-0202

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