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Islamic Economics Project

RESEARCH ON ISLAMIC ECONOMICS AND FINANCE AND ROLE OF FAITH IN MARKETS AND SOCIETY IN POST MODERN SCIENTIFIC AGE

Moral Reflections on Economics, Vol 4, Issue 2

February issue of Moral Reflections on Economics is online. It features article on Liquidity Risks in Islamic Banks, Roundup of Al Baraka Forum 2024, IEP Public Poll results on Cost of War in Gaza, book review of Economics of Prophet Muhammad (pbuh) by Syed Fazlur Rehman, research paper in focus on Cash Waqf in Malaysia by Zaki Ahmad, Mushtaq Ahmed & Mahvish Nawaz Mokal and regular sections of reflections, news, economic and financial indicators and call for papers.

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Halal Tourism Beyond 2020

Muslim population comprises one-fourth of the global population. In 2060,31.1% of the 3 billion people will be Muslims. In complying with Islamic teachings, Muslims want to have Halal options of banking, investments, food and apparel. Nonetheless, in many other product segments, there is no distinction between Halal and conventional products and services. In Fiqh-ul-Muamlaat, except Haram, other things are considered Mubah. Hence, instead of a positive Halal list, a negative non-Halal list is enough.

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Global Multidimensional Poverty Index 2023

The annual global Multidimensional Poverty Index (MPI), jointly published by the Human Development Report Office (HDRO) of the United Nations Development Program and the Oxford Poverty and Human Development Initiative (OPHI) at the University of Oxford since 2010, measures interlinked deprivations in health, education and standard of living that directly affect a person’s life and wellbeing. Breakdown by component indicator shows what deprivations poor people experience, which can guide the choice of poverty reduction interventions to achieve the greatest impact.

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Moral Reflections on Economics, Vol 4, Issue 1, 2024

January 2024 issue of Moral Reflections on #Economics is online. It features article on UN #SDGs and #Gaza Crisis, Highlights of Multidimensional #Poverty Index Report 2023, IEP Public Poll results on Economic Boycott, book review of #Islam and Economic Security by Yousuf Qaradawi, research paper in focus on #Halal tourism by Dr. Punit and regular sections of reflections, #news, economic and financial indicators and call for papers. Download for free.

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Is Conventional Mortgage Halal

Conventional banks only provide loans no matter whether the loan amount is used for purchasing assets or not. As far as repayment of debt is considered in conventional finance lease or mortgage loans, the interest is due from the very first date of sanction of loan till the very last. If the asset remains unusable during the conventional finance lease, the instalments including interest and principal repayment will continue without any break. If interest amount is not paid on time, then interest has to be paid on accrued interest along with financial penalties. Compounded interest can multiply exponentially.

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