memandangkan yeop bertanya pada aku mengenai islamic economics, aku bagi tau la apa yang aku tau setakat nie..
Yang aku tahu dan akui, malaysia skrg dah jadi hub islamic banking.. well, banking dan ekonomi saling berkaitan walau ia 2 perkara yang berbeza.. skrg nie kalau ko balik mesia nanti, ko bleh lihat kat mesia nie makin banyak product2 islamic banking kat bank2 mesia nie.. semua bank dah kena ikut sbb product2 nie mmg mendapat sambutan sgt menggalakkan.. malah, ko pun tahu beberapa bank luar negara dah pun bukak hub kat mesia eg KFH, Ar-Rajhi bank..
ada lagi beberapa investment islamic yang mendapat sambutan gak, for eg, sukuk.. sukuk nie kira bond, cuma 0% interest.. perkembangan product halal mesia pun mendapat sambutan gak.. product halal nie bukan makanan jek, byk.. even insurans dan beberapa product bank pun termasuk dalam list nie.. however, mesia nie x leh nak lepaskan diri dari konsep riba' lagi.. walaupun diorang x panggil interest, but panggil profit charge, still the concept is the same with conventional.. selagi concept nie wujud dijalankan, selagi tue la aku rasa fully islamic economics x bleh dijalankan lagi..
So, berbalik pada ko punya persoalan.. apa perkembangan islamic economics? well, apa yang aku bleh kata adalah mesia dalam proses untuk membentuk negara mengamalkan islamic economics melalui islamic banking.. bank2 mesia nie patutnya kena follow semua standart islamic banking yang dah diskas dan dipersetujui oleh ramai pihak (lecturer, prof, ulamak.. mcm2).. skit2 la mesia nie follow.. and Financial Reporting Standart yang mesia ada pun dah pun menyokong islamic standart nie.. just satu je la aku bleh kata.. kita nie dah lama terikut cara conventional.. susah beb nak tuka norms semua org yang dah pakai conventional nie.. interest tinggi.. pulangan byk.. (bagi investor2 la)..
bagi hukum2, ulamak2 pun dah ramai dilahirkan.. samada mereka follow atau x, terpulang.. sbb klu stadi mengenai hukum2 setengah2 product islamic banking yang lama esp Bai' Bithamanil 'Ajil dan beberapa lagi product.. sgt funny.. coz, ulamak2 timur tengah x halal kan pun.. tapi , ulamak mesia halalkan.. so, pk la sendiri..
itu jek yang aku tau serba sedikit.. aku tau, ramai professional islamic economics and islamic banking yang akan baca blog aku nie.. hope diorang sudi komen.. haha.. chiow!!!
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What is islamic economics?
It would be better if we at the very outset acquaint ourselves with the occidental definition of Islamic economics and what should be contemplated under it. The question whether the idea of Islamic economics is meaningful, well defined or practical has been occupying the minds of many people for quite some time. There are those among Muslims who wonder whether such a discipline is at all applicable in today’s complex world of economics and international relations. And in fact, there are others who have just started to come to grasp with the problems of its definition and structure.
Hasanuz Zaman (1984) defines Islamic economics as “the knowledge and application of injunctions and rules of the Syariah that prevent injustice in the acquisition and disposal of material resources in order to provide satisfaction to human beings and enable them to perform their obligations to Allah and society.”
Alternatively, as described by Akram Khan (1984), Islamic economics is “the study of human falah achieved by organizing the resources of earth on the basis of cooperation and participation, and Muhammad Arif defines it as “the study of Muslim behavior that organizes the resources which are a trust given by the God Almighty to achieve falah.”
According to Mahmud Abu Saud (1983), the science of economics deals with the fulfillment of material needs and ambitions. Economics is in itself not the object but it is rather a means of achieving the object. He then outlined three basic ingredients of the Islamic economy which firstly is; human should put in all his mental and physical capabilities and change the direction of civilization towards the inadequate matter worship. Secondly he stressed that every aim and it course of action which goes contrary to the faith in the Unity of Allah has nothing to do with Islam as it destroys the very basis of it. Finally he affirmed that in every sphere of life, Islamic order should be accomplished.
The central idea of providing various definitions from different scholars as pointed out above is just to give comprehensive understanding on what Islamic economics is all about. From the definitions given above, it naturally proceeds that Islamic economics identifies a study of human behavior with regard to acquiring and using resources for the satisfaction of necessities, needs and other desires.
..til we meet again..daaa..
Islamic economics from the view of Islamic banking practices..
Taking into account Islamic banking that is been practice nowadays, it came to intermingle and co-exist within a conventional system of banking, making no economic revolution and upsetting nothing in the common economic equations. Islamic banks, whether commercial or investment, is actually took the same form and approach that are adapted by their interest-based counterpart, to the extend that they can be encumbered with the same criticism addressed to conventional banks.
With regard to the Malaysia’s cases and many other Islamic banking practicing countries, there are large gap between theory and practice. Is it a disobedient practice or a misguided theory? The problem of Islamic banks is that they were born in a situation of two extremely divergence paradigms that are the reality of interest-based conventional banks that came to take its present shape after more than four centuries of development, growth. Besides, the boundary expansion and the idealistic fictitious theorization that imagined a framework of Islamic banking is on the basis of a simplistic Mudarabah and two tier Mudarabah.
Of what can I conclude here is, the boost and augment of Islamic banking in many countries that uphold Islam as the practice religion has problem from its origin. The implementation and accomplishment of Islamic banking in the new millennium era is just to come up with so called new ideology of banking that in lines with Islamic way which promote goodness in daily life. Based on my observation, having an Islamic banking window actually does not achieve the real objective of implementing the Islamic banking. Indeed, instead of promoting the Islamic way of life, it creates various products as to competing each other by hiding the conventional modus operandi behind the good name of Islamic terminology.
terima kasih sdr malik kerana sanggup melayan kerenah dan kehendak aku. terima kasih kerana berkongsi benda ni, bukan sahaja dgn aku, tp dgn ribuan pembaca berbahasa Malaysia kat luar tu.
aku bukan malas nak fikir sendiri, tapi aku mmg xtau. apekah ulama2 timur tgh tu ada sebab2 sendiri yg menyebabkan diorg x mengiktiraf produk "al-bai' bithamanil 'ajil"? atau adakah mereka x meluangkan masa mengkaji bab2 ni? adakah ulama2 Malaysia/belah2 sini terdiri drpd golongan ekonomis yg boleh menjustifikasikan fatwa mereka? gila khinzir tol, berapa byk adakah daa...:P
to miss farah,
if islamic banking is not what is seems to be, then is there room to make it better? can you economist develop an authentic islamic banking, true to its name and form?
hermmm.. in my opinion, islamic economics cannot be established at all if we are still using money as the main currency..
and why can't we use money?? the thing is, money doesnt have intrinsic value.. that was why during the time of the Prophet, they use gold..and that was why there is hadith something about gold to gold, silver to silver, dates to dates, wheat to wheat, barley to barley.. i cant remember the whole hadith.. but according to this, we gotta use commodity (something that has intrinsic value, its durable and a lot of other conditions) to exchange the goods and services... it doesnt necessarily have to be gold..
but money, its just papers that we produce out of thin air. Meaning that, the monetary system that we are using now is the fractional reserve banking system.
in this system, the bank gives loan not on how much money people have deposited in it. let say, A deposits 1m of his money in the Bank. So, how much loan can the bank give out? mesti kau jawap 1m jugak kan??
the answer is, the bank kan give out loan based on the reserve that the central bank has proposed. let say the BNM intructthat every bank in msia has to maintain a 6% reserve.. so the total loan that can be given out is 24m.why 24m? because the 1m deposited by A is divided by the 6% (1m/0.06=25m) the 25m minus the deposit money (in this case 1m)..so thats how get the 24m loan..
basically, isnt it money creation out of thin air??
so, how can islamic economics be established in the current world?? the answer is, islamic banks are not at all islamic.. By the way, whats the purpose of islamizing everything if the people are not islamic kan??
so, that was why, Dr.M made a proposal on gold dinar.. But, as usual nobody wants to listen to him..
the conclusion is, we cant have islamic economic or islamic banking like we imagine it to be because of the global monetary system...
we can have islamic economics with the current system..but look at whats happening.. its getting no where as well..
but its good that we are doing something.. eventually, bit by bit we will achieve the islamic ecnomics..
owh yer, ttg ulama tak boleh pakai..siape kite nak ckp die tak boleh pakai?? kalau kau hafal quran sekali pon.. siape kau nak kate die tak boleh pakai??
the thing is, there isnt a mujtahid nowadays... so, ppl make decision based on what he knows.. and obviously, hes not mujtahid...
sbb tuh la islamic banking nih pon is really performing in accordance with islamic.. the syariah advisor sume org2 yg hanye faham syariah..mostly, ada background IRK but not accounting or business or economics..
sbb tuh jadik product mmc BBA.. luaran mcm ok je.. tapi substance??
dan sbb tuh kite tak ikut imam syafie when it comes to trading and businesses... sbb tak realistic kalau nak ikut die..
owh...
now i'm trying to imagine people going around with gold in their pockets...
the paper money was surely created due to some need kan...
1) i don't have a proper basics in economics. i was in science stream while in school. i got involved in this discussion to get my self enlightened. i try my best to gain knowledge. i'd appreciate a lighter tone :)
2) didn't TDM suggest to use the dinar as currency for trades between OIC countries?
owh..bukan nye maksud trade gune gold bwk gold seketul2 dlm pocket... gune dinar la (contoh je nih..mcm zaman rasullullah)
even now, they are using dinar in their proposal to trade in gold.. owh, and it doesnt necessarily have to be gold.. it can be any commodity that has the same characteristics as gold.. According to the hadith that i mentioned earlier, it can be dates, wheat or barley.. but of course, we are still doing research on it..
if you wanna know more about this, go and read these books by dr.ahamed kameel mydin meera. the title is the theft of nation and another book by him is gold dinar. he was the one who came up with the gold dinar proposal..
yelah.. money was created to fulfill certain purposes. and if you read up on the Bretton Wood System and the Fractional Reserve Banking system (google these), you'll notice that money creation was purposely designed to crash certain parties. Its like a sacrifice that must be made in order for you to acquire something.. phm ke??
2) didn't TDM suggest to use the dinar as currency for trades between OIC countries?? <-- yerp, but are they using it?? tak kan?? why are OIC countries still using the USD in trading?
even if we are free from riba.. we are not going to have a stabilize economic system.. Example: in Iran, they dont practice riba at all.. and is the economy in Iran is doing well?? certainly not..Penah dengar ke org bagi contoh Iran ekonomi bagus sbb tak practice riba'?
so, this a proof that you wont go anywhere even if you eliminate riba in the current global Monetary system..
To mr djambu a.k.a yeop, i think soklan yang ditanya telah terjawab..
Thanks to miss hana..
I totally agree with u..
from my opinion, to have a pure islamic economics system, we have to start from the root, that is through knowledge..
pendedahan n pemahaman tentang ilmu ekonomi dan syariah should be merge from its theory and practical, so that the ideal islamic economic system could be implemented..
so juz for ur info, IIUM is the initiator menawarkan islamic economic courses.. and all it courses pun like accounting,business, etc, akan diserap dgn pendekatan dr sudut syariah..hehe..promote iiu pulak..
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