nep-isf New Economics Papers
on Islamic Finance
Issue of 2023‒02‒27
two papers chosen by
Rachita Gulati
IIT Roorkee

  1. The topics of Islamic economics and finance research By Ezzedine Ghlamallah; Christos Alexakis; Michael Dowling; Anke Piepenbrink
  2. Les Remèdes Aux Crises Environnementales Et Financières Offerts Par l’Économie Islamique By Ezzedine Ghlamallah

  1. By: Ezzedine Ghlamallah (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon); Christos Alexakis; Michael Dowling; Anke Piepenbrink
    Abstract: We provide a comprehensive structuring of research on Islamic economics and finance into the core topics of the area, for the period 1979 to 2018. This is carried out through a probabilistic topic modeling approach that allows statistical learning of the connection between research articles as well as their shared topics. This approach, which blends machine learning and natural language processing, helps provide a comprehensive structure to the literature. Our topic modeling analysis is conducted on approximately 1500 articles, and suggests the Islamic economics and finance literature can be well-described by 11 topics. These topics cover economic, finance, and morality issues. Our research can be applied to provide a clear structure for ongoing research agendas in Islamic economics and finance as well as a framework for understanding research development in this area. We also note the differences between Islamic and conventional approaches to economics and finance research in order to highlight the inherent new contributions of this maturing area of research.
    Keywords: Islamic finance, Islamic banking, Islamic economics, Takaful
    Date: 2021–09
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03511406&r=isf
  2. By: Ezzedine Ghlamallah (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon)
    Abstract: This article discusses how Islamic economics can provide remedies to environmental and financial crises. The first part of the article deals with the issue of environmental and financial crises (1). The environmental crises are analyzed through the issues of global warming, deforestation and marine pollution, and biodiversity loss (1.1). The financial crises are studied through the indebtedness, as a cause and consequence of the depressions, in a context that feeds speculation, where the financial markets are perfused with liquidity (1.2). This first part presents an observation allowing us to establish a diagnostic. The second part serves as a prescription and is devoted to the remedies offered by Islamic economics: the abandonment of usury and speculation; the attachment to the principles of justice, compassion, the search for the common good, as well as responsibility; but also the duty to share wealth and moderation (2.1). The implementation of the principles of Islamic economics is exposed through the contributions of Islamic finance to financial stability and the examples of the mechanisms of zakāh and waqf that respond to the adoption of the values of sharing and sustainability, to benefit humanity and the environment (2.2). Thus, through a withdrawal mechanism such as zakāh and a distribution instrument such as waqf, Islamic economics offers remedies to fully finance the Sustainable Development Goals (SDGs) without having to recourse to more debt.
    Abstract: Cet article aborde la manière dont l'économie islamique peut apporter des remèdes aux crises environnementales et financières. La première partie de l'article traite de la question des crises environnementales et financières (1). Les crises environnementales sont analysées à travers les questions du réchauffement climatique, de la déforestation et de la pollution maritime, ainsi que de la perte de biodiversité (1.1). Les crises financières sont étudiées à travers l'endettement, en tant que cause et conséquence des dépressions, dans un contexte alimentant la spéculation où, les marchés financiers malades sont perfusés à la liquidité (1.2). Cette première partie présente un constat permettant d'établir un diagnostic. La seconde partie fait office de prescription et se consacre aux remèdes offerts par l'économie islamique : l'abandon de l'usure et de la spéculation ; l'attachement aux principes de justice, de compassion, de recherche de bien commun, ainsi que de responsabilité ; mais également le devoir de partage des richesses et de modération (2.1). La mise en oeuvre des principes de l'économie islamique est exposée à travers les apports de la finance islamique à la stabilité financière et les exemples des mécanismes de la zakāh et du waqf qui répondent à l'adoption des valeurs de partage et de durabilité, pour être profitable à l'humanité et à l'environnement (2.2). Ainsi, grâce à un mécanisme de prélèvement comme la zakāh et un instrument de distribution comme le waqf, l'économie islamique offre des remèdes permettant de financer intégralement les objectifs de développement durable (ODD) sans avoir à recourir à plus d'endettement.
    Keywords: Crise Economique, Crise Financière, Crise environnementale, Crise climatique, Finance islamique, Economie islamique
    Date: 2022–01–15
    URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03584215&r=isf

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