Islamic Finance and Economy

ÖZET
İslam ekonomisi tartışmaları XX. yy. ikinci çeyreğinde Hindistan’da başlamıştır. Günümüzde de devam eden bu tartışmaların temel kodları, Kur’an-ı Kerim ve Hz. Peygamberin nübüvvet öncesi ve sonrası dönemlerinde yaptığı uygulamalarda saklıdır. Bu amaçla çalışmada, öncelikle Arap toplumunun geleneksel yapısı, ticaret anlayışı ve Hz. Muhammed’in peygamberliği öncesi iktisadi olaylarla olan etkileşimi ele alınmaktadır. Daha sonra, İslam İktisadının felsefi ve ahlaki yönü, İslam ekonomisi söylemlerinin hangi koşullarda ortaya çıktığı ve hangi yönde evirildiği konusunda tarihselci bir yaklaşım yürütülmektedir. Son olarak ise, iktisat biliminin laikleşmesi ve İslam Ekonomisi ve İslami Finans üzerine yapılan tartışmalar irdelenmektedir.
ABSTRACT
The discussions on Islamic economy started in the second quarter of 20th century in India. The basic codes of these controversies ongoing nowadays are implicit in Qur'an and the practices of the Prophet in the periods of before and after being prophet. To this end, this study is dealt with traditional structure and business sense of Arab society, the interaction the Prophet Muhammad with the economic events before his being prophet. Later, an historical approach is put forward to about the philosophical and ethical aspect of the Islamic Economy, under which conditions the discourses of Islamic economics have emerged and in which way it has been evolved. Finally, the secularization of the science of economics and the discussions on the Islamic Economy and Islamic Finance are examined.

Border trade is defined as the flow of goods and services across international land borders within a reach of duly defined area. It has two varieties formal and informal. The former refers to trade in goods or services which is carried out by legally registered traders and fulfills all legal requirements of the trading countries while the later refers to movement of goods in which all or part of the trading activity is unrecorded or unrecognized by the government, and without adherence to procedural requirements of all formal institutions. This research mainly focuses on the informal cross border trade and formal petty periphery trade. The formal cross-border trade between Iraq and neighboring countries is also analyzed using a data from the Central Bank of Iraq.

Frequently happened agrarian conflicts in Indonesia need to be addressed seriously to find the best solution. This problem should be exercised from various views and perspectives, including legal, social and economic perspectives. This study aims to find a comparison between policy and law of the government of the Republic of Indonesia and the concept of Islamic thought of a great Muslim scholar; Abu Ubaid. This study uses descriptive analysis. This research is a research library with data and methods of qualitative analysis. The type of data used in this study is qualitative data obtained from authentic sources consisting of primary and secondary data sources. The findings and conclusions of this research are that government policies on land and agricultural land in Indonesia have similarities and differences compared to Abu Ubaid's thoughts on land/agricultural land. The equation is, on the distribution of plantation land for farmers that in law in Indonesia recognize ownership of land rights which is characterized by a certificate of agricultural land, whereas according to Abu Ubaid is land rights for farmers who work on land/plantation land that has been appointed by the Imam / Head of State .

This paper explores the Ottoman government’s Gypsy poll tax policy in the
frontier province of Bosnia in the period between 1690s and 1856 by using unpublished archival sources to deconstruct the dominant historiographic narratives on this matter, as well as to answer several important, but still unaddressed questions. After reassessing the principal historiographic ideas and conflicting narratives on the political and legal background of the Gypsy poll tax, this study investigates the hitherto unknown regional variations in the Gypsy poll tax policy, financial importance of the poll tax at the provincial and local level, tax farming arrangements as well as changes in tax collection strategies. Throughout, it argues that previous historiographic works on these questions did not adequately present the changing nature of the Ottoman taxation policy as they lacked the materials to provide us with a more detailed insight. On the other hand, this research reveals the nuances of these financial changes and variations, which occurred over time, tracks down the central government’s efforts to mobilise the necessary resources and improve the state capacity, while it explains the connection of these changes with the wider economic crises and transformation processes in the Ottoman Empire.

Keywords: Ottoman Empire; Bosnia; economic history; Romani studies; Gypsies;
finance; fiscal policy; taxation; centre-periphery relations; transformation processes; poll
tax; jizya; Balkans.

Critic : Poverty in Indonesia and the Solution of Islam in the welfare of the people's economy. Indonesia's population is around 261 millions more and the majority are Muslim. But the poverty rate is 10.64%. It is implies the economic condition of the people is still in a position below of the poverty line. The theme of the Economic Strategy for the Prosperity of the people (Ummah) examines the problems of the present ummah economy, especially the problem of poverty. Many observers argue that the economic development of the people is constrained by structural. This is deemed necessary for the improvement and change of structural concepts to facilitate them in developing their businesses. When the development of economic empowerment is realized, there will be high competitiveness so that it can improve the economy. The views of classical and contemporary economists express opinions and develop economic thinking to be a benefit for the people. 

Abstrak: Kritik: Kemiskinan di Indonesia dan Solusi Islam dalam mensejahterakan ekonomi umat. Penduduk Indonesia berjumlah sekitar 261 juta jiwa lebih dan mayoritas beragama Islam. Akan tetapi tingkat kemiskinan sebesar 10.64%. Hal ini secara tidak langsung menunjukkan bahwa kondisi perekonomian umat masih berada dalam posisi di bawah garis kemiskinan. Tema Strategi Ekonomi untuk kemakmuran Umat ini mengkaji permasalahan ekonomi ummat saat ini, khususnya permasalahan tingkat kemiskinan. Banyak pengamat mengemukakan bahwa pengembangan ekonomi umat terkendala oleh struktural. Hal ini dipandang perlu untuk perbaikan dan perubahan konsep struktural agar memudahkan mereka dalam mengembangkan usaha. Bilamana pengembangan pemberdayaan ekonomi terwujud, akan ada daya saing tinggi sehingga dapat meningkatkan perekonomian. Pandangan para ekonom klasik dan kontemporer menyatakan pendapat dan mengembangkan pemikiran ekonomi untuk menjadi maslahat bagi umat.

This study aimed to indicate the general trend of Islamic economics and finance (IEF) studies through bibliometric analysis. Therefore, the Web of Science (WoS), which is one of the most respected databases, for the period 1975-2019 with a total of 1,120 documents is examined. The documents were classified, analyzed, and visualized through VOS-viewer software, and the main trends in terms of countries, organizations, authors, and publishers were indicated. This study revealed the trends of IEF literature by reviewing thirty articles with the most co-citations and creating a keyword map. The findings showing the current state and trends of the IEF discipline are quite remarkable. It has been found that Malaysia ranks first among countries and institutions in terms of the number of publications. While Abbas Mirakhor was the author with the most publications, the International Journal of Islamic and Middle Eastern Finance and Management was the most publishing institution. Besides, in keyword network analysis, it is seen that the institutions and subjects of Islamic finance are dominant in Islamic economics and finance studies. These findings bringing the "Is the IEF discipline financialized?" debate back to the agenda is expected to inspire many new study topics.