Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries
Islamic finance has been in existence for the past centuries. Nonetheless, the realization of the real objectives of the industry is still a dream yet to be true. The goal of Islamic finance is to promote a sharing economy whereby money is not concentrated in the hands of a few individuals. This pur...
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| Format: | Article |
| Language: | English |
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Universitas Muhammadiyah Yogyakarta
2018
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| Online Access: | http://irep.iium.edu.my/65893/ http://irep.iium.edu.my/65893/11/65893%20Promoting%20a%20sharing%20economy%20in%20the%20Islamic%20finance%20industry.pdf |
| _version_ | 1848786469570740224 |
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| author | Abdul Razak, Dzuljastri Abdul Wahab, Abdul Hamid |
| author_facet | Abdul Razak, Dzuljastri Abdul Wahab, Abdul Hamid |
| author_sort | Abdul Razak, Dzuljastri |
| building | IIUM Repository |
| collection | Online Access |
| description | Islamic finance has been in existence for the past centuries. Nonetheless, the realization of the real objectives of the industry is still a dream yet to be true. The goal of Islamic finance is to promote a sharing economy whereby money is not concentrated in the hands of a few individuals. This purpose of this study is investigate the application of mudarbah and musharakah concepts which facilitate a sharing economy where profit and loss is shared between the bank and customer compared to debt financing that utilizes murabahah concept. The methodology is based on secondary data obtained from central banks of five selected OIC countries. The results indicated that Indonesia, Sudan and Bangladesh recorded the highest amounts in terms of mudarabah financing while Malaysia, Indonesia and Pakistan recorded the highest amounts in terms of musharakah financing. The results also indicated that murabahah financing is high in Malaysia, Bangladesh, Indonesia and Sudan. Pakistan registered the lowest amount in terms of murabahah financing. |
| first_indexed | 2025-11-14T17:09:32Z |
| format | Article |
| id | iium-65893 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T17:09:32Z |
| publishDate | 2018 |
| publisher | Universitas Muhammadiyah Yogyakarta |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-658932018-09-25T01:57:49Z http://irep.iium.edu.my/65893/ Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries Abdul Razak, Dzuljastri Abdul Wahab, Abdul Hamid HB126.4 Islamic Economics Islamic finance has been in existence for the past centuries. Nonetheless, the realization of the real objectives of the industry is still a dream yet to be true. The goal of Islamic finance is to promote a sharing economy whereby money is not concentrated in the hands of a few individuals. This purpose of this study is investigate the application of mudarbah and musharakah concepts which facilitate a sharing economy where profit and loss is shared between the bank and customer compared to debt financing that utilizes murabahah concept. The methodology is based on secondary data obtained from central banks of five selected OIC countries. The results indicated that Indonesia, Sudan and Bangladesh recorded the highest amounts in terms of mudarabah financing while Malaysia, Indonesia and Pakistan recorded the highest amounts in terms of musharakah financing. The results also indicated that murabahah financing is high in Malaysia, Bangladesh, Indonesia and Sudan. Pakistan registered the lowest amount in terms of murabahah financing. Universitas Muhammadiyah Yogyakarta 2018 Article PeerReviewed application/pdf en http://irep.iium.edu.my/65893/11/65893%20Promoting%20a%20sharing%20economy%20in%20the%20Islamic%20finance%20industry.pdf Abdul Razak, Dzuljastri and Abdul Wahab, Abdul Hamid (2018) Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries. International Journal of Islamic Economics and Finance, 1 (1). pp. 59-76. ISSN 2622-3562 E-ISSN 2622-4372 http://journal.umy.ac.id/index.php/ijief/article/view/4537/3625 |
| spellingShingle | HB126.4 Islamic Economics Abdul Razak, Dzuljastri Abdul Wahab, Abdul Hamid Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries |
| title | Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries |
| title_full | Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries |
| title_fullStr | Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries |
| title_full_unstemmed | Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries |
| title_short | Promoting a sharing economy in the Islamic finance industry: a study of selected OIC countries |
| title_sort | promoting a sharing economy in the islamic finance industry: a study of selected oic countries |
| topic | HB126.4 Islamic Economics |
| url | http://irep.iium.edu.my/65893/ http://irep.iium.edu.my/65893/ http://irep.iium.edu.my/65893/11/65893%20Promoting%20a%20sharing%20economy%20in%20the%20Islamic%20finance%20industry.pdf |