Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility

The overarching purpose of this paper is to explore the Islamic features of public Finance. Thus, even a cursory glance at the way traditional Muslim states used to conduct their public financial affairs and ways and means of government finances in modern states based on Western secular principles d...

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Main Author: Eissa, Garoot Suleiman
Format: Conference or Workshop Item
Language:English
English
Published: Academic Fora 2016
Subjects:
Online Access:http://irep.iium.edu.my/54248/
http://irep.iium.edu.my/54248/
http://irep.iium.edu.my/54248/9/54248.pdf
http://irep.iium.edu.my/54248/10/54248-slides.pdf
id iium-54248
recordtype eprints
spelling iium-542482017-03-01T01:27:20Z http://irep.iium.edu.my/54248/ Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility Eissa, Garoot Suleiman HJ2005 Income and expenditure. The budget The overarching purpose of this paper is to explore the Islamic features of public Finance. Thus, even a cursory glance at the way traditional Muslim states used to conduct their public financial affairs and ways and means of government finances in modern states based on Western secular principles derived from positive economics immediately discloses remarkable differences between them. The first were based on Islamic Shari’a injunctions as a basic theme, while the latter are based primarily on principles of positivist economics. There are still many similarities. Traditional Muslim scholars had delegalized imposition of taxes beyond what is mentioned in injunctions as a dividing line between what is private and what is public. However such dividing line in Western theorizing is determined in terms of efficient allocation of resources between private and public sectors. The relevant question is: are these two viewpoints in opposition to each other or are they compatible and complementary? This paper lays forth a review of similarities and differences between the two practices on some major dimensions and then argues that differences can be partially reconciled if we use Almasalih’ Almursalah and objectives of Islamic Sharia’ as a basis for such reconciliation. Academic Fora 2016 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/54248/9/54248.pdf application/pdf en http://irep.iium.edu.my/54248/10/54248-slides.pdf Eissa, Garoot Suleiman (2016) Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility. In: Kuala Lumpur 7th International Conference on “Business Economic, Social Science & Humanities” (BESSH-2016), 17th-18th December 2017, Kuala Lumpur. http://academicfora.com/bessh-kuala-lumpur-malaysia-february-17-18-2016/
repository_type Digital Repository
institution_category Local University
institution International Islamic University Malaysia
building IIUM Repository
collection Online Access
language English
English
topic HJ2005 Income and expenditure. The budget
spellingShingle HJ2005 Income and expenditure. The budget
Eissa, Garoot Suleiman
Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
description The overarching purpose of this paper is to explore the Islamic features of public Finance. Thus, even a cursory glance at the way traditional Muslim states used to conduct their public financial affairs and ways and means of government finances in modern states based on Western secular principles derived from positive economics immediately discloses remarkable differences between them. The first were based on Islamic Shari’a injunctions as a basic theme, while the latter are based primarily on principles of positivist economics. There are still many similarities. Traditional Muslim scholars had delegalized imposition of taxes beyond what is mentioned in injunctions as a dividing line between what is private and what is public. However such dividing line in Western theorizing is determined in terms of efficient allocation of resources between private and public sectors. The relevant question is: are these two viewpoints in opposition to each other or are they compatible and complementary? This paper lays forth a review of similarities and differences between the two practices on some major dimensions and then argues that differences can be partially reconciled if we use Almasalih’ Almursalah and objectives of Islamic Sharia’ as a basis for such reconciliation.
format Conference or Workshop Item
author Eissa, Garoot Suleiman
author_facet Eissa, Garoot Suleiman
author_sort Eissa, Garoot Suleiman
title Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
title_short Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
title_full Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
title_fullStr Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
title_full_unstemmed Islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
title_sort islamic and modern foundations of public finance: exploring similarities, differences and possibilities of compatibility
publisher Academic Fora
publishDate 2016
url http://irep.iium.edu.my/54248/
http://irep.iium.edu.my/54248/
http://irep.iium.edu.my/54248/9/54248.pdf
http://irep.iium.edu.my/54248/10/54248-slides.pdf
first_indexed 2023-09-18T21:16:45Z
last_indexed 2023-09-18T21:16:45Z
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