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All Journal Invest Journal of Sharia & Economic Law
Javaid, Omar
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Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Money Multiplication in Islamic Banking – A Discussion on Its Impact on Distributive Justice Javaid, Omar
Invest Journal of Sharia & Economic Law Vol. 3 No. 1 (2023): INVEST - Vol. 3 No. 1 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i1.5780

Abstract

This paper explores the legitimacy of the use of Fractional Reserve System in Islamic banking from the normative premise of Islamic economics. The paper uses a methodology of structured literature review and a conceptual analysis of the literature following the approach of Critical Interpretive Synthesis (CIS). The first section of the paper presents the analysis on fractional Reserve Bank (FRB) system, how it leads to multiplication of money supply and influence the long-term inflation and business cycles; the second part of the article explains the extent to which this framework obstructs in the achievement of the objectives of Islamic Economics. This is followed by a reflective analysis of concepts and information gathered from the literature to evaluate how FRB system fits into the fabric of Islamic Economic. The second section of this paper explains how Islamic Banks, with an FRB model and its inclination towards debt-based instruments, would allow Islamic banks to contribute to the problem of inflation, even if they use Musharakah and Mudarabah as a mode of finance.
Money Multiplication in Islamic Banking ”“ A Discussion on Its Impact on Distributive Justice Javaid, Omar
Invest Journal of Sharia & Economic Law Vol. 3 No. 1 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i1.5780

Abstract

This paper explores the legitimacy of the use of Fractional Reserve System in Islamic banking from the normative premise of Islamic economics. The paper uses a methodology of structured literature review and a conceptual analysis of the literature following the approach of Critical Interpretive Synthesis (CIS). The first section of the paper presents the analysis on fractional Reserve Bank (FRB) system, how it leads to multiplication of money supply and influence the long-term inflation and business cycles; the second part of the article explains the extent to which this framework obstructs in the achievement of the objectives of Islamic Economics. This is followed by a reflective analysis of concepts and information gathered from the literature to evaluate how FRB system fits into the fabric of Islamic Economic. The second section of this paper explains how Islamic Banks, with an FRB model and its inclination towards debt-based instruments, would allow Islamic banks to contribute to the problem of inflation, even if they use Musharakah and Mudarabah as a mode of finance.
The Natural Cooperatives in The Muslim World: Traditional Entrepreneurial Communities Javaid, Omar
Invest Journal of Sharia & Economic Law Vol. 4 No. 2 (2024)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v4i2.8471

Abstract

This study investigates the structure and socioeconomic roles of traditional entrepreneurial communities in the Muslim world by comparing them with modern cooperative models. Unlike Western cooperatives, which emerged to counter market-induced social disintegration, Muslim communities have sustained themselves through kinship networks, shared values, and voluntary socioeconomic justice. These communities exhibit key characteristics aligned with cooperative aims, including family-business integration, mutual financial support, job creation, and community well-being. However, contemporary research on these communities is limited and often outdated, in contrast to extensive studies on ethnic entrepreneurship in non-Muslim contexts. This study advocates for more exploratory research to understand how Muslim entrepreneurial communities maintain social integration, distributive justice, and Islamic values in their socioeconomic frameworks. It proposes research questions on community organization, economic contributions, welfare mechanisms, and modernization impacts, offering a roadmap for future research to inform policies and community development. By examining the resilience and adaptability of these communities, this study aims to enhance the understanding of Islamic socioeconomic models and their contemporary relevance. These findings highlight the distinctive features of these communities as naturally occurring cooperatives, reflecting their unique cultural, religious, and social contexts. This research advances theoretical discussions in Islamic economics, economic sociology, and cooperative studies, while offering insights into fostering economic inclusivity and social cohesion in diverse settings.
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