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All Journal Invest Journal of Sharia & Economic Law
Javaid, Omar
Unknown Affiliation
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 traditional Muslim entrepreneurial communities by comparing them with modern Western 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. Muslim cooperatives are more organically rooted in local traditions than Western cooperatives. The key characteristics of these communities include family-business integration, mutual financial support, job creation, and community well-being, aligning with cooperative aims. Despite their benefits, contemporary research on these communities remains limited and often outdated. This contrasts with extensive studies on ethnic entrepreneurship in non-Muslim contexts. This study advocates for more research to understand how Muslim entrepreneurial communities maintain social integration, distributive justice, and Islamic values. It proposes research questions on community organization, economic contributions, welfare mechanisms, and modernization impacts to inform policies and development. The study aims to enhance the understanding of Islamic socioeconomic models by examining communities' resilience and adaptability.
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