The Global Finical Crisis from an Islamic Point Of View
When the world economy suffered a new financial economic crisis, it uncovered to the world that there were major failures within the Industrial financial system and it was caused by a number of issues including the practice of interest and the terrible effect it has on the financial crisis events....
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| Language: | English |
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Qubahan
2021-04-01
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| Series: | Qubahan Academic Journal |
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| Online Access: | https://journal.qubahan.com/index.php/qaj/article/view/39 |
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| author | Hewa Majeed Zangana |
| author_facet | Hewa Majeed Zangana |
| author_sort | Hewa Majeed Zangana |
| collection | DOAJ |
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When the world economy suffered a new financial economic crisis, it uncovered to the world that there were major failures within the Industrial financial system and it was caused by a number of issues including the practice of interest and the terrible effect it has on the financial crisis events. Issues that will be discussed in this paper are Riba, Gambling, Uncertainty, Derivatives, Saucerization, Sell of debt, Creation of Money, and the Private “Personal” interests. However, the paper will focus on the Islamic financial system and the financial instruments which are based and designed in compliance with Shariah Rules and Regulations, whether if practicing Islamic banking would cause such a crisis to accrue.
The Sukuk, of the Islamic mortgage-Backed securities (MBS), and Islamic future contract will be discussed in order to prove why using the Islamic Financial system is better to assure that this kind of global crisis doesn’t come to pass again.
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| format | Article |
| id | doaj-art-793d3cee41c441059c7a5fefdf8aac33 |
| institution | Kabale University |
| issn | 2709-8206 |
| language | English |
| publishDate | 2021-04-01 |
| publisher | Qubahan |
| record_format | Article |
| series | Qubahan Academic Journal |
| spelling | doaj-art-793d3cee41c441059c7a5fefdf8aac332025-02-03T10:12:54ZengQubahanQubahan Academic Journal2709-82062021-04-011210.48161/qaj.v1n2a3939The Global Finical Crisis from an Islamic Point Of ViewHewa Majeed Zangana0Department of Computer Science / College of Computer Science and IT / Nawroz University / Kurdistan Region of Iraq When the world economy suffered a new financial economic crisis, it uncovered to the world that there were major failures within the Industrial financial system and it was caused by a number of issues including the practice of interest and the terrible effect it has on the financial crisis events. Issues that will be discussed in this paper are Riba, Gambling, Uncertainty, Derivatives, Saucerization, Sell of debt, Creation of Money, and the Private “Personal” interests. However, the paper will focus on the Islamic financial system and the financial instruments which are based and designed in compliance with Shariah Rules and Regulations, whether if practicing Islamic banking would cause such a crisis to accrue. The Sukuk, of the Islamic mortgage-Backed securities (MBS), and Islamic future contract will be discussed in order to prove why using the Islamic Financial system is better to assure that this kind of global crisis doesn’t come to pass again. https://journal.qubahan.com/index.php/qaj/article/view/39Financial, Economic, Crisis, Riba, Sukuk. |
| spellingShingle | Hewa Majeed Zangana The Global Finical Crisis from an Islamic Point Of View Qubahan Academic Journal Financial, Economic, Crisis, Riba, Sukuk. |
| title | The Global Finical Crisis from an Islamic Point Of View |
| title_full | The Global Finical Crisis from an Islamic Point Of View |
| title_fullStr | The Global Finical Crisis from an Islamic Point Of View |
| title_full_unstemmed | The Global Finical Crisis from an Islamic Point Of View |
| title_short | The Global Finical Crisis from an Islamic Point Of View |
| title_sort | global finical crisis from an islamic point of view |
| topic | Financial, Economic, Crisis, Riba, Sukuk. |
| url | https://journal.qubahan.com/index.php/qaj/article/view/39 |
| work_keys_str_mv | AT hewamajeedzangana theglobalfinicalcrisisfromanislamicpointofview AT hewamajeedzangana globalfinicalcrisisfromanislamicpointofview |