Islamic finance

Authors

  • Oybek Axmadjonov Kokand University
  • MuhhammadRizo Abdullayev Kokand University
  • Ayubxon Isaxanov Kokand University
  • Narimon Erkinov Kokand University

Keywords:

Islamic Finance, Islamic Banking, Islamic Economics, Financing, Sukuk, Islamic Mutual Funds

Abstract

The notion of “Islamic finance” was born during the tumultuous identity-politics years of the mid-twentieth century. Indian, Pakistani, and Arab thinkers contemplated independence from Britain, and independence of Pakistan from India, within a context of “Islamic society.” Islam was assumed to inspire political, economic, and financial systems that are distinctive and independent of the Western (Capitalist) and Eastern (Socialist) models of the epoch. The term “Islamic economics” was coined by Abu al-A`la AlMawdudi, whose students and followers worked to develop an ostensible Islamic social science (Kuran, 2004). Mawdudi’s influence on Arab Islamists began with the writings of Sayid Qutb, the father of modern Arab political Islam, whose quasi-exegesis Under the Qur’anic Shade referred exclusively to Mawdudi’s writings on economic matters. Mawdudi’s migration from majority-Hindu Indian society to maority-Muslim Pakistan thus became a prototype for Islamist migration away from secular political and economic systems.

References

Chapra, U. “What Is Islamic Economics,” IDB Prize Winner's Lecture Series, No. 9, Jeddah: Islamic Development Bank, 1996.

El-Gamal, M. “Interest and the Paradox of Contemporary Islamic Law and Finance,” Fordham International Law Journal 27(1), 2003.

El-Gamal, M. Islamic Finance: Law, Economics, and Practice, Cambridge University Press, 2006.

El-Gamal, M. “Incoherence of Contract-Based Islamic Financial Jurisprudence in the Age of Financial Engineering,” Wisconsin International Law Journal 25(4), 2008.

Kuran, T. Islam and Mammon, Princeton: Princeton University Press, 2004.

Mulaydinov, F. (2021). Digital Economy Is A Guarantee Of Government And Society Development. Ilkogretim Online, 20(3), 1474-1479.

Mulaydinov, F. M. (2019). Econometric Modelling of the Innovation Process in Uzbekistan. Форум молодых ученых, (3), 35-43.

Mulaydinov, F., Kadirova, A., Melibaeva, G., & Akhmadjonov, O. (2020). Advantages of the transition to a digital economy in the innovative development of Uzbekistan. Journal of Advanced Research in Dynamical and Control Systems, 12(6), 1226-1232.

Mulaydinov, F., & Nishonqulov, S. (2021). Raqamli iqtisodiyotni rivojlantirishda axborot texnologiyalarining orni-The role of information technologies in the development of the digital economy.

Farkhod, M. (2020). Econometric Modelling of the Innovation Process in Uzbekistan. International Journal of Psychosocial Rehabilitation, 24(02).

Butaboyev, M., Urinov, A., Mulaydinov, F., & Tojimatov, I. Digital economy.

TURSUN, S., TUYCHIEVICH, B. M., & MUROTOVICH, M. F. Effects of the Global Crisis on the Economy of Uzbekistan During the Coronovirus Pandemidia and Measures to Ease IT. JournalNX, 6(05), 277-280.

Мулайдинов, Ф. М. (2021). КИЧИК БИЗНЕС ВА ТАДБИРКОРЛИКДА КРАУДФАНДИНГ ИМКОНИЯТЛАРИ. Academic research in educational sciences, 2(Special Issue 4), 23-32.

Solidjonov, D. Z. O. (2021). THE IMPACT OF THE DEVELOPMENT OF INTERNET TECHNOLOGIES ON EDUCATION AT PANDEMIC TIME IN UZBEKISTAN. In СТУДЕНТ ГОДА 2021 (pp. 108-110).

Solidjonov, D. Z. (2021). THE IMPACT OF SOCIAL MEDIA ON EDUCATION: ADVANTAGE AND DISADVANTAGE. Экономика и социум, (3-1), 284-288.

Nishonqulov, S. F. O., Rajabboyev, B. O. O., & Mamasoliyev, J. O. O. (2021). OLIY O'QUV YURTLARIDA IQTISOD BO'YICHA QO'LLANMA: O'ZGARMAS" MA'RUZA VA BO'R" USULINI KO'RIB CHIQISH. Scientific progress, 2(3), 814-824.

Nishonqulov, S. F. O., Rajabboyev, B. O. O., & Mamasoliyev, J. O. O. (2021). IQTISODIYOT VA UNING TARMOQLARINI RAQAMLASHTIRISH. IQTISODIYOT SOHASIGA RAQAMLI TEXNALOGIYALARNI OLIB KIRILISHI. Scientific progress, 2(3), 825-831.

Farxodjon ogli, N. S., & Odil ogli, R. B. (2021). Raqamli iqtisodiyot almashinuvining resurslar sarfiga sakkizta tasiri. BOSHQARUV VA ETIKA QOIDALARI ONLAYN ILMIY JURNALI, 1(1), 53-56.

Solidjonov, D., & Nishonqulov, S. (2021). TA’LIM BIZNESIDA YANGI INNOVATSION TEXNOLOGIYALARNING QO’LLANISHI JOURNAL OF INNOVATIONS IN SCIENTIFIC AND EDUCATIONAL RESEARCH VOLUME-1. ISSUE-3 (Part-1, 18-JUNE), 1, 195-199.

Mulaydinov, F., & Nishonqulov, S. (2021). Raqamli iqtisodiyotni rivojlantirishda axborot texnologiyalarining orni-The role of information technologies in the development of the digital economy.

Nishonqulov, S., & Rajabboyev, B. (2021). OCHIQ TARMOQ KORXONALARINING BIZNES-MODELLARI.

Nishonqulov, S., Rajabboyev, B., & Solidjonov, D. (2021). BANK TIZIMINI INNAVATSION ISLOH QILISH SHAROITIDA TIJORAT BANKLARINI TRANSFORMATSIYALASHNING ILMIY-AMALIY ASOSLARI.

Downloads

Published

2021-10-25

How to Cite

Axmadjonov, O., Abdullayev, M., Isaxanov, A., & Erkinov, N. (2021). Islamic finance. Science and Education, 2(10), 652-660. Retrieved from https://openscience.uz/index.php/sciedu/article/view/1946