Browse by Author "Seyed Kazem Sadr"
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- PublicationThe determinant factors of FDI - a study on OIC countriesMiao Wang; Seyed Kazem Sadr (INCEIF, 2016)
FDI is the central topic of contemporary economics. Its role in propping up the economy has long been demonstrated, and the FDI inflow is thus competed fiercely by OIC member countries for the sake of economic development. To succeed in bringing in FDI, however, requires governments to identify and analyze the determinant factors of FDI. For this purpose, we use multilinear regression to process the data of FDI and its possible determinants variables within the OIC members from 1992 to 2010 ...
- PublicationFinancing the development of old waqf properties: classical principles and innovative practices around the worldHisham Dafterdar; Murat Cizakca; Syed Othman Alhabshi; Shaikh Hamzah Shaikh Abdul Razak; Seyed Kazem Sadr; Thamina Anwar; Mohammed Obaidullah; Magda Ismail Abdel Mohsin (Palgrave Macmillan, 2016)
This book presents successful case studies in Muslim and Muslim minority countries that have revolutionized the redevelopment of idle waqf properties into productive land trusts. The revival of this institution over the last two decades shows the growing optimism in galvanizing the socioeconomic role of waqf by adopting its flexible shariah measures. Innovative ways of financing redevelopment allow Muslims to extend these roles to include new beneficiaries. New uses for these properties include providing services to the community, opening jobs for the majority of people, funding small entrepreneurs, educating the masses, providing health care, and sheltering the poor and needy.
- PublicationGenuine savings determinants in oil producing countries: the case of OIC oil producing countriesIshaq Muhammad Mustapha Akinlaso; Seyed Kazem Sadr (INCEIF, 2016)
World demand for oil and natural gas is driven by economic growth and social development across the globe. According to the U.S Energy Information Administration (EIA, 2016), world oil consumption increased almost fourfold in the last 45 years. As at 1st quarter 2016, It reached 96mb/day (more than 35billion barrels per year) from 86mb/day in 2006. Muslim countries, which include Saudi Arabia, Iran, Iraq, Kuwait, United Arab Emirates (UAE), Qatar, Yemen, Libya, Nigeria, Algeria, Kazakhstan, Azerbaijan, Malaysia, Indonesia, Brunei, are blessed with crude oil and natural gas reserves, making a concentration of the world oil production in the Muslim world. Jointly, they possess about 60% of the world proven oil reserves (CIA, 2015) and some of them constituting the richest countries in the world. Due to the surplus exports of oil and gas, most of these countries have established sovereign wealth funds, which out of the current ninety-two (92) Sovereign Wealth Funds (SWF) with a total asset value of seven trillion dollars ($7 million), thirty-nine percent (39%) are in Muslim countries.
- PublicationInclusion of Islamic socio financial institutions for the unbankable hard core poor (a model worth attention)Shaikh Hamzah Shaikh Abdul Razak; Syed Othman Alhabshi; Seyed Kazem Sadr; Magda Ismail Abdel Mohsin (2017)
The hard core poor are neither bankable nor covered against risks. Whilst micro-finance seems to solve financial inclusion for this group to some extent, albeit at very high costs, very little have been done to provide sufficient cover against risks of all sorts for this group. Some attempts at developing micro-takaful are actually in the pipeline, however, very little concrete and practical solutions have emerged so far. It is of course well-known that Islamic Social Financial Institutions (ISFI), namely zakah, waqf, infaq and qard-hassan are meant to directly benefit the less fortunate in society, but little has been done to ensure that they directly benefit from these institutions. The main objective of this paper is to show how the ISFI can be synergised to overcome this problem. The paper is also intended to show how the ISFI can be integrated within a Micro-Finance Model for alleviating poverty, assisting in providing the basic needs for the hard core poor such as food, shelter, education and health care. Research Methodology - this paper uses both primary and secondary sources. Data collected from primary sources include text from the Quran and from the Sunnah of the Prophet (pbuh), while data collected from secondary sources includes books, articles, journals, annual reports, and websites. Expected findings - Drawing lessons from some existing successful cases there, the expected findings for this paper is to draw the attention from policy marker, researchers to find ways and means how to integrate the ISFI into a viable Micro-Finance Model that will achieve such noble mission at the present time.
- PublicationIntegration of Islamic philanthropic economic services for alleviation of poverity: the case of affordable housingSeyed Kazem Sadr; Syed Othman Alhabshi; Shaikh Hamzah Shaikh Abdul Razak; Magda Ismail Abdel Mohsin (Shahid Beheshti University, 2020)
This paper argues that the goal of poverty alleviation and a decent standard of living is not attainable in Muslim communities unless the economic and social services of the Islamic philanthropic institutes are integrated and a full-fledged collaboration would be resumed among the managing boards. The first part of the paper will examine why Muslims participate in altruistic giving and what are the alternative forms of contributions that are provided by Shariah of Islam. The second part will review the potential and actual contributions of the said Islamic benevolent giving for poverty eradication and well-being of low and vulnerable income families. The third and concluding part will discuss the conditions, methods and mechanism for integration and coordination among Islamic philanthropic institutes for provision of affordable housing.
- PublicationIntegration of Islamic philanthropic economic services for alleviation of poverty: the case of affordable housingSyed Othman Alhabshi; Shaikh Hamzah Shaikh Abdul Razak; Seyed Kazem Sadr; Magda Ismail Abdel Mohsin (2016)
The main objective of this paper is to draw the attention to the four remarkable financial institutions which are meant to eradicate poverty, reduces inequalities and narrowing down the gap between the rich and the poor in ethical and just a way. These financial institutions are the zakah, waqf, qard-hassan and interest-free financial institutions.
- PublicationMoney, capital and the Islamic property rights paradigmSeyed Kazem Sadr (Islamic Bank Training and Research Academy, 2016)
The purpose of this paper is to highlight the profound transformations that occur in ribawi financial systems when an Islamic conception of property rights is adopted. The nature of financial transactions changes, financial markets undergo structural transformation, and money, capital and financial assets acquire new jurisprudential status. Banks' relationship with their clients and with the Central Bank will be different resulting in different macroeconomic policies and a more effective transmission mechanism. Further, the financial and real sectors of the economy will be integrated, and sustainable.
- PublicationPerformance evaluation of agricultural sub-sectors from capital productivity perspectiveSalami Habibollah; Zohreh Shabani; Seyed Kazem Sadr (Scientific Information Database, 2009)
In the present study, the productivity of capital input in different agricultural subsectors is assessed for the period 1976-2007 and the performances compared accordingly. In addition, the performances are compared in the context of various five year economic, social and cultural development plans based on the rate of growth of capital input during the implementation of the different plans. Results indicate that fisheries, and forestry sub-sectors have undergone a declining trend in the productivity of capital input, while field cropping, horticulture, and animal husbandry sub-sectors have experienced increasing trend in the productivity of capital input during the study period. Among the four agricultural sub-sectors, animal husbandry has exhibited a conspicuous performance in utilization of capital input, as it has had the highest productivity growth rate of capital input during the study period. On the other side, capital input has been utilized least effectively, in the fisheries sub-sector for which the growth rate of capital productivity has been negative over the period of the study. Additionally, the results indicate that animal husbandry sub-sector has had the most profitable performance in creating value added per unit of utilized capital input, while fisheries showing the worst performance as viewed: from this perspective.
- PublicationQard hasan financing in Islamic banksSeyed Kazem Sadr (ISRA, 2014)
Qard hasan - commonly defined as an interest-free loan - is a benevolent economic behaviour, an outlet for the placement of savings, an instrument of finance and an institution for bona fide lending. Having such versatile attributes, it is distinguishable from other charitable financial activities such as waqf (endowments) and infaq (spending in the way of Allah) as well as other modes of finance used in Islamic financial institutions. The purpose of this paper is to present the alternative prospects of this Islamic instrument and to provide an explanation for each form of its application. Applying Tobin’s (1958) Portfolio Theorem, the paper explains why people extend loans to others without the expectation of return and position this bona fide loan among the other recommended financial activities in Islam. Furthermore, the paper investigates why Islamic banks continue to make use of this financial instrument despite the fact that they gain no financial return from it. Data on Islamic banks’ application of qard hasan financing and its share compared to other banks’ assets portfolio are presented. It is further argued that qarḍ ḥasan is an act of worship and benevolence and should be distinguished from the qard (loan) contract, which is simply a permissible type of exchange and a mode of saving deposits in Islamic banks. The paper concludes with recommendations to the financial community for more extensive and effective use of this interest-free loan.
- PublicationQard-ul-hasan and micro financingSeyed Kazem Sadr; Omid Torabi (USIM Publisher, 2015)
Eight years have passed since 2005, the year that was labelled as that of micro finance by the United Nations to reflect the importance of financial inclusion of the poor and enforcement of policies that attain thic objective. The labelling of the microfinance year implied the recognition of the fact that conventional financial institutions have globally failed to include poor and vulnerable families for their financial services.
- PublicationThe role of property rights, bank supervision and regulations in Islamic banking development: a cross-country studyW Fatimatul Akmar Mohamed Hassan; Seyed Kazem Sadr; Mansor H. Ibrahim (INCEIF, 2018)
Islamic banking has been developing and expanding all around the world for the past decades and it continues to develop at an accelerated pace in some countries in recent years. However, the development of Islamic banking is unevenly distributed across the countries. Most of the Islamic banks are located in the Middle East and North African regions. Despite of the huge Muslim populations, some countries like Indonesia and Pakistan are still having a small share of Islamic bank asset as compared to those of the MENA region. This situation raises a question of what actually contributes to the development of Islamic banking. A vast number of literatures with regards to the financial development have indeed suggested many possible determinants for the development of the banking sector. Yet, the studies which are solely dedicated to the development of Islamic banking sector are still limited ...
- PublicationThe role of agricultural water markets in the allocation and pricing of water resources: a case study of Mojen water market (Persian)Abbas Bohlolvand; Seyed Kazem Sadr; Seyed Abolghasem Hashemi (University of Tehran, 2015)
Water markets are instrumental in efficient allocation and pricing of scarce water by enhancing allocative and price efficiency of water use. The prerequisites for water market formation are tradable water rights independent from ownership of the land, extensive water canals, water use associations, and adequate market regulations. Mojen water market has been facilitating exchange of alternative water rights for more than 40 years accommodating among other things 30% of total farmers water demand. The total volume of water exchanged through the marker over the 3 year period of (2002-2004) are 38, 54 and 88 Q3, with average price of 555, 651, and 664 IR/Q3, respectively. The purpose of this research is to estimate water demand function and identify the roles that market plays in pricing and efficient allocation of water. The estimated demand price elasticities for single and joint production of potato and wheat are significant and negative. The differential among the absolute value of the estimated elasticities reveals that potato and wheat are the major and the minor crop choice in the farmers’ production plan. Producers are less sensitive to variation of water price when they produce potato and wheat jointly compared to their single plantation. The price elasticity of demand for the former joint outputs is -0.256 compared to that of potato and wheat alone which are -0.276 and -0.477, respectively. The difference between the average products of water for the said crops enforces the obtained elasticities results.
- PublicationThe role of human capital in economic development of the earliest Islamic periodSeyed Kazem Sadr (Emerald, 2015)
The purpose of this paper is to provide explanation for the economic development of the earliest Islamic state. It focuses on the role of human capital as the most important element of this model and focuses on four dimensions of development of human personality in Islam: the incentive structure, rules of behavior, institutions and policies. A review and analysis of the measures and policies that Prophet of Islam and his successors adopted are made to arrive at the underlying economic model of development. The major finding is the role of human capital in the development of the economy at that time. The contribution of the paper is to identify the critical role of education and skills for the development of the economy at present.
- PublicationThe role of management of commercial waqfَ properties on their corresponding generated revenuesSeyed Kazem Sadr; Hojjatullah Souri (University of Tehran, 2010)
This paper pursues two goals. At first, it uses an unrestricted error correction model (UECM) and the bounds testing approach proposed by Pesaran, Shin, and Smith (2001) to study the short- and long-run effects of bank credit on inflation in Iran, a country with some history of interest-free banking system. Secondly, we examine how institutional and cultural changes resulted from bank nationalization and the implementation of interest-free banking have affected price level movement in Iran. The approach we have used in this paper is capable of testing the existence of long run relations regardless of whether the underlying variables are stationary, integrated, or mutually cointegrated. The results indicate that there exists a long-run relationship between inflation and its main determinants, namely, bank credit, import price, real GNP, and black market exchange rate. However, bank credit has no short-run effect on price level movement in Iran. Furthermore, the paper shows that the nationalization of banks and the implementation of interest-free banking system in Iran have caused a structural change in the behavior of inflation.
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