This is the fourth episode of a four-part discussion that relates to Ali Salman’s book, "Islam & Economics: A Primer on Markets, Morals and Justice". In this part, we discuss about Ali's thoughts on the current standings of Islamic economics.

Ali Salman is an economist by training, and CEO of Islam and Liberty Network. He is the founder of Policy Research Institute of Market Economy (PRIME) in Pakistan. He is currently based in Malaysia, where he heads a leading think tank, Institute for Democracy and Economic Affairs (IDEAS).

How did Islamic economics emerge?
What are the differences between classical and modern economic thoughts in Islamic perspective?
What drive these differences?
Is Islamic economics plan-based or market based? Do they matter?
Danger of creating more inequality with capitalist based ideas.
Economic Man and Islamic Man
Thoughts on current Islamic economics
What Islamic economics are doing right
Islamic economics on top of conventional economics
Islamic economics as a new definition
Restructuring the idea of an Islamic state
Size of the government by Islamic economic framework
Is Islamic economics here to stay?
Closing remarks

This episode is the third of a four-part discussion that relates to Ali Salman’s book, "Islam & Economics: A Primer on Markets, Morals and Justice". In this part, we further discuss the Islamic economic principle of wealth creation. We touch on topics such as: Zakat and its implications on secular state; and Waqaf and the ideas of socialism.

 

Ali Salman is an economist by training, and CEO of Islam and Liberty Network. He is the founder of Policy Research Institute of Market Economy (PRIME) in Pakistan. He is currently based in Malaysia, where he heads a leading think tank, Institute for Democracy and Economic Affairs (IDEAS).

 

Zakah and what it means today

Reinterpretation of Zakah

Zakah or normal taxation for secular state

The limitation of Zakah

Waqaf

Guarantee of Waqaf

Distribution of wealth akin to socialism?

Inequality as a divine scheme and wealth distribution

Law of Inheritence

Women in rights of inheritance

A new reinterpretation

Closing remarks

This episode is the second of a four-part discussion that relates to Ali Salman’s book, "Islam & Economics: A Primer on Markets, Morals and Justice". In this part, we further discuss the Islamic economic principles of wealth creation.

 

Ali Salman is an economist by training, and CEO of Islam and Liberty Network. He is the founder of Policy Research Institute of Market Economy (PRIME) in Pakistan. He is currently based in Malaysia, where he heads a leading think tank, Institute for Democracy and Economic Affairs (IDEAS).

 

01:19 – How do people interpret the Hadith of price control
03:32 – The importance of regulations.
07:39 – Does Islam prefer economic freedom over social justice?
08:41 – Has the definition of social justice changed?
19:29 – The principles of free trade
12:12 – Does Islam prefer a no tax principle?
15:13 – Hisbah – market regulator
17:07 – Does Islam prefer state regulators over private entities?
21:08 – The Gold Standard and Fiat Currency in Islamic context
23:25 – How do they value intrinsic currency?
25:05 – Why is there a call to return to the gold standard?
28:13 – Is there such a thing as Islamic currency?
29:37 – Riba
33:33 – How does this apply to credit?
35:30 – Does Riba has to be unjust before be considered Riba?
36:34 – Consensus between two parties is not enough
38:58 – Closing remarks

This episode is the first of a four-part discussion that relates to Ali Salman’s book, Islamic Economic Framework. In the first part, we discuss about the principles that make up Islamic economic.

Ali Salman is an economist and has master degrees in Economics, Public Policy and Business Administration. He has worked as a consultant and trainer for major international development organizations, public sector organizations, and non-profits. Ali is a founding member of Islam and Liberty Network and also the founder of Policy Research Institute of Market Economy and the CEO of Institute for Democracy and Economic Affairs.

 

01:00 – Sharia Law
05:00 – First Principle – Private Property
07:30 – First Principle – Public Property
09:29 – Spirit of theory of ownership
15:11 – Does scarcity and effort affect ownership?
17:36 – Second Principle – Wealth Creation
20:02 – Price control
21:38 – Consumer protection
24:01 – Price floor & ceiling
26:29 – When is price control justified?
28:20 – Third Principle – Wealth Distribution
30:19 – Who is Zakat for?
32:52 – Distribution of wealth without heir
35:53 – Closing statements

This week’s podcast episode features a discussion between Imam Sheikh Dr Usama Hasan and Ali Salman about the modern notion of “lands of citizenship” within Islamic legal framework.

Islamic jurisprudence, or fiqh, is often used to argue a binary world-view- Dar al-Islam or Dar al-kufr, divided between Muslims and Non-Muslims, or kafir. Citing the historical development of fiqh, Imam Usama Hasan shows a third way existed, Dar murakkab (composite land). He discusses the modern notion of “lands of citizenship” within Islamic legal framework thus replacing the medieval binary framework.

During the discussion, he sketched out a diagram to simplify and illustrate his points and you can download the diagram in our show notes.

Download by clicking here.

(Imam Sheikh Dr) Usama Hasan is Head of Islamic Studies at Quilliam and was a founding advisor to the organisation in 2008. Usama also attends Quilliam’s board as a non-Executive staff member. As a teenager Usama became a radical salafi activist and, whilst still a Cambridge undergraduate, briefly took part (1990-1) in the ‘Jihad’ against Communist forces in Afghanistan. However following the 7/7 bombings in London, Usama took it upon himself to start campaigning against extremism and for religious reform within Muslim circles. Usama has written for The Guardian, The Times, The Telegraph and for the BBC Online Magazine. 

Islam and Liberty Podcast presents a lively discussion on topical issues around Islam, Society and Economy led by leading experts. The general orientation is towards intellectual dimensions of the relationship between Islam and liberty with focus on religious, civil, political and economic liberties as understood in the Islamic discourse.

This week's podcast episode features a discussion between Muhammad Suheyl Umar and Ali Salman on the Islamization of knowledge, its inception and its current standing.

Muhammad Suheyl Umar is former director of the Iqbal Academy Pakistan where he spent 30 years, before joining the University of Central Punjab. Hespecializes in Sufism and the intellectual history of the Indian subcontinent. He has also worked as academic director at the Institute of Islamic Culture, chief editor of Al-Ma‘arif, and visiting scholar to International Institute of Islamic Thought and Civilization in Kuala Lumpur, Malaysia. Umar earned his B.A. and M.A. at Government College (Lahore), M.Phil. at Allama Iqbal Open University, and Ph.D. at Punjab University in Lahore.

Islam and Liberty Podcast presents a lively discussion on topical issues around Islam, Society and Economy led by leading experts. The general orientation is towards intellectual dimensions of the relationship between Islam and liberty with focus on religious, civil, political and economic liberties as understood in the Islamic discourse.

Islam and Liberty Podcast presents a lively discussion on topical issues around Islam, Society and Economy led by leading experts. The general orientation is towards intellectual dimensions of the relationship between Islam and liberty with focus on religious, civil, political and economic liberties as understood in the Islamic discourse.

Islam and Liberty Podcast presents a lively discussion on topical issues around Islam, Society and Economy led by leading experts. The general orientation is towards intellectual dimensions of the relationship between Islam and liberty with focus on religious, civil, political and economic liberties as understood in the Islamic discourse.

 

This webinar was originally recorded on 29th December 2018.

Islam and Liberty Podcast presents a lively discussion on topical issues around Islam, Society and Economy led by leading experts. The general orientation is towards intellectual dimensions of the relationship between Islam and liberty with focus on religious, civil, political and economic liberties as understood in the Islamic discourse.

 

This webinar was originally recorded on 27th October 2018.

Islam and Liberty Podcast presents a lively discussion on topical issues around Islam, Society and Economy led by leading experts. The general orientation is towards intellectual dimensions of the relationship between Islam and liberty with focus on religious, civil, political and economic liberties as understood in the Islamic discourse.

This webinar was originally recorded on 29th September 2018.

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