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dc.contributor.author. Ascarya
dc.date.accessioned2019-10-25T20:13:02Z
dc.date.available2019-10-25T20:13:02Z
dc.date.created2017-09-28 23:30
dc.date.issued2016-04-01
dc.identifieroai:doaj.org/article:ffa214e3a2114f71b7d042ad3d7b612e
dc.identifier1907-8145
dc.identifier2460-0717
dc.identifierhttps://doaj.org/article/ffa214e3a2114f71b7d042ad3d7b612e
dc.identifier.urihttp://hdl.handle.net/20.500.12424/1505098
dc.description.abstract<div><p class="Els-Abstract-head"><strong>Objective – </strong>The purpose of this study is to determine the real causes of financial crisis from Islamic economic perspective.</p></div><p class="Els-Abstract-text"><strong>Methods - </strong>This study applies Analytic Network Process (ANP) to determine the real causes of financial crisis from Islamic economic perspective to be able to formulate the real solutions to end financial crisis.</p><p class="Els-Abstract-text"><strong>Results - </strong>The ANP results show that the real causes of financial crisis from Islamic economic perspective are Social Instability (EXTERNAL FACTOR), Speculation (MISBEHAVIOR), Ineffective Fiscal System (UNSUSTAINABLE FISCAL SYSTEM), Hedonism (MISBEHAVIOR), Fractional Reserve Banking System (UNSTABLE MONETARY SYSTEM), Political Instability (EXTERNAL FACTOR), Corruption (POOR GOVERNANCE), Interest Rate (UNSTABLE MONETARY SYSTEM), Fiat Money (UNSTABLE MONETARY SYSTEM), and the Wrong Man in the Wrong Place (POOR GOVERNANCE). These main real causes should be removed gradually in order to systematically and gradually improve the stability of financial system so that financial crisis will not reappear again and again in the future.</p><p><strong>Conclusions - </strong>Financial crisis would not happen under Islamic economic system if all Allah’s laws in financial dealings were followed. Financial crisis in conventional economic system could be prevented or lessened by gradually adopting Islamic economic and finance laws and regulations, partly or fully, especially the main pillars of Islamic financial system, namely the prohibition of ribā (usury or interest), prohibition of maysir (gambling and game of chance or speculation) and prohibition of gharar (excessive uncertainty), in their many forms.<strong></strong></p>
dc.languageEN
dc.languageID
dc.publisherTazkia University College of Islamic Economics; Association of Islamic Economics Lecturers
dc.relation.ispartofhttp://tifbr-tazkia.org/index.php/TIFBR/article/view/85
dc.relation.ispartofhttps://doaj.org/toc/1907-8145
dc.relation.ispartofhttps://doaj.org/toc/2460-0717
dc.sourceTazkia Islamic Finance and Business Review, Vol 9, Iss 2 (2016)
dc.subjectFinancial crisis
dc.subjectIslamic economic perspective
dc.subjectANP
dc.subjectIslam
dc.subjectBP1-253
dc.subjectSocial Sciences
dc.subjectH
dc.subjectCommerce
dc.subjectHF1-6182
dc.subjectBusiness
dc.subjectHF5001-6182
dc.titleDetermining the Real Causes of Financial Crisis in Islamic Economic Perspective: ANP Approach
dc.typeArticle
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ge.identifier.legacyglobethics:11567690
ge.identifier.permalinkhttps://www.globethics.net/gtl/11567690
ge.lastmodificationdate2017-09-28 23:30
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ge.oai.setnameLCC:Islam
ge.oai.setnameLCC:Social Sciences
ge.oai.setnameLCC:Commerce
ge.oai.setnameLCC:Business
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ge.linkhttps://doaj.org/article/ffa214e3a2114f71b7d042ad3d7b612e


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