Download Social Capital and Risk Sharing: An Islamic Finance Paradigm by Abbas Mirakhor, Adam Ng, Mansor H. Ibrahim PDF
By Abbas Mirakhor, Adam Ng, Mansor H. Ibrahim
This interesting new addition to Palgrave reviews in Islamic Banking, Finance, and Economics argues that social capital can facilitate rule-compliance and co-operation within the sharing of danger in monetary and monetary actions.
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Extra info for Social Capital and Risk Sharing: An Islamic Finance Paradigm
This means that there are rules specified by the Messenger (sawa) that were applied to the society off his time. Conditions change and the rules have to be interpreted, modified to apply to each time and place while the core principle of the rules and theirr spirit remain invariant. In the earlier example, the rule may seem irrelevant since there are no caravans nowadays. However, the spirit of this rule is clear. The Messenger’s (sawa) prohibition is to allow free flow of supplies into the market without interference.
The fundamental objective is to create a society in which individuals become cognizant of all of their capabilities, including spiritual. When humans are so able to actualize these capabilities, it makes possible a life which the Qur’an refers to as hayat tayyibah: the purified, good and blessed life, a life free of anxiety, fear, and regrets; a life of full awareness of the beauty of the creation and its Creator; a life of solidarity with other humans and the rest of creation; and a life lived in full Grace of the Cherisher-Lord.
Theyy had to be allowed to enter the market before selling their goods. This rule clearly contains time and place reference. It is, however, also establishingg a universal rule of noninterference with supplies to allow all market participants to have unhindered access and opportunity to engage in acquiringg the commodities. The archetype model includes rules of behavior at the periphery subject to spatial and temporal constraints. This means that there are rules specified by the Messenger (sawa) that were applied to the society off his time.