Browse by Author "Askari, Hossein"
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- PublicationGlobalization and Islamic finance: convergence, prospects, and challengesIqbal, Zamir; Mirakhor, Abbas; Askari, Hossein (John Wiley, 2010)
This is an extremely valuable book written by three highly qualified scholars whose credentials for writing such a book are difficult to match. The timing of the book is also perfect, having come at a time when the worst financial crisis in living memory has intensified the quest for reform of the international architecture. The proposals made by the authors should go a long way in not only reforming the system but also in accelerating the move towards financial globalization and convergence of the conventional and Islamic financial systems.
- PublicationIntroduction to Islamic economics: theory and applicationAskari, Hossein; Iqbal, Zamir; Mirakhor, Abbas (John Wiley & Sons, 2015)
This book is a comprehensive resource and groundbreaking work that provides an overview of the organizing principles and fundamentals values of an Islamic economy. It also offer a clear explanation of how the conventional global economic system differs from an economy grounded in the fundamental principles of Islam.
- PublicationIslam and the path to human and economic developmentMirakhor, Abbas; Askari, Hossein (Palgrave Macmillan, 2010)
This book briefly surveys the evolution of the Western concept of development, recognizing the wider dimensions of human and economic development and the role of institutions and rules, which has moved toward the vision and the path of development envisaged in Islam.
- PublicationNew issues in Islamic finance and economics: progress and challengesAskari, Hossein; Iqbal, Zamir; Mirakhor, Abbas (John Wiley, 2009)
This book provides a review of the main issues and challenges facing Islamic finance. The application of Islamic finance is currently limited to banking. This book starts with an overview of the factors and motives behind the development of Islamic finance. A critical review of issues facing the industry is provided followed by a detailed analysis of areas where further attention is required. The book offers some original thinking on issues pertaining to governance, institutions, public finance and economic development within an Islamic financial system.
- PublicationRisk sharing in finance: the Islamic finance alternativeAskari, Hossein; Iqbal, Zamir; Krichene, Noureddine; Mirakhor, Abbas (John Wiley, 2012)
In this volume, the authors make an important attempt to develop the building blocks of an Islamic financial system and elaborate on its implementation as a comprehensive system. They make a convincing case for the world to shed its reliance on debt, interest and leveraging, and revamp the global financial system to rely more heavily on equity financing, genuine asset securitization linking the payoffs of financial securities to the underlying assets. This would ensure promoting wider risk sharing and a more stable financial environment.
- PublicationThe Islamic financial system alternativeAskari, Hossein; Iqbal, Zamir; Krichene, Noureddine; Mirakhor, Abbas (World Financial Review, 2011)
Islamic finance provides financial products, which comply with Islamic law (Shariah), largerly to Muslim investors and some Islamic products have even attracted conventional investors and borrowers. Despite growing interest in Islamic finance, a full-fledged Islamic financial system has yet to be established and demonstrated as the viable financial system in even a single country ...
- PublicationThe moral foundation of collective action against economic crimesVicary Abdullah, Daud; Askari, Hossein; Mirakhor, Abbas (Universita di Roma, 2015)
Economic and financial crimes, defined generally as crimes against property, have been increasing rapidly in recent years. In the 2014 Global Economic Crime Survey it is noted that among the 5,000 business organisations across the world responding, 37 percent report being victims of economic crime, up from 30 percent in 2009. No country, society, culture or community has been immune. The financial crisis focused attention on elite white-collar crimes while empirical research was pointing to another alarming development: “the everyday crimes of the middle class”, committed by those “[...} at the very core of contemporary society” (Karstedt and Farrall, 2007).
- PublicationThe next financial crisis and how to save capitalismAskari, Hossein; Mirakhor, Abbas (Palgrave Macmillan, 2015)
The financialization of the economy has brought a number of interrelated problems which have contributed to growing income and wealth inequality. Askari and Mirakhor assert that it is time to make a bold change by putting our financial house in order and on a better path, advocating for a fundamental reform of the financial system.
- PublicationThe resilience and stability of the Islamic financial systemAskari, Hossein; Iqbal, Zamir; Krichene, Noureddine; Mirakhor, Abbas (European Financial Review, 2011-04-25)
Financial instability has been a recurrent phenomenon in contemporary economic history, affecting countries with varying intensity and resulting in massive unemployment and lost economic output. The financial crisis that broke out in August 2007 crippled the financial system of many advanced countries, and claimed as victims long-established banking and investment banking institutions that were deemed “too big too fail.” Capital markets were frozen, leading to stock market crashes worldwide, wiping out trillions of dollars in share values and in retirement investment accounts, and resulting in massive and persistent unemployment.
- PublicationThe stability of Islamic finance: creating a resilient financial environment for a secure futureAskari, Hossein; Iqbal, Zamir; Krichene, Noureddine; Mirakhor, Abbas (John Wiley, 2010)
The main focus is on the question of the sources of financial instability which seems inherent in the conventional system. As a core component of this focus, the book will consider episodes of turbulence and instability in a historical context recalling the occurrence of such events from mid-19th century to the present. It will present various theoretical explanations along with solutions and alternative financial systems that avoid instability provided by various scholars dating back to mid-19th century to present...
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