JOURNAL OF ISLAMIC ECONOMIC STUDIES
Year:2021 | Volume:12 | Issue:1 (25)|Papers Count:11

Incidence of behavioral heterogeneities and deviation in optimal decision-making in allocating income and adjusting the consumption-saving behavior creates the necessity for Islamic education to correct the Muslim agents’ role-playing. In this research, by applying modified choices based on the teaching Islamic propositions regarding allocative and wasted nonperfusion in an equilibrium model with respect to heterogeneous agents having separable preferences and solving Bellman-Jacobi-Hamilton equation in the frame of optimil control, the survival probablity of the Muslim agents also, the effect of Islamic intution and education on the modification of non-optimal behaviors, has been investigated. The results show that if the optimal intertemporal allocation beliefs and nonperfusion behaviors are the basis of the behavior of Muslim agents, these types of agents are dominant in the long-time and will survive. Also, after modifying education and awareness of Islamic concepts, on average, 20% of people tend to modify their behavior, and survival rates will increase from 72. 25% to 92. 25%.

The concept of Riba is one of the concepts that has been the subject of a wide range of scholars throughout the history of the Islamic world, including commentators and jurists and recently Islamic economists. The prohibition of Riba is one of the few subjects that many Quranic verses have come to regard as a war with God and His Rasool. The present study aims to analyze the philosophy of the prohibition of Riba for the first time in a descriptive-analytic way, at first exploring some of the verses and examining the views of contemporary scholars on the nature of Riba and its philosophy of sanctification. Accordingly, one of the philosophies of prohibition of Riba, considering the transcendent nature of the Qur'anic teachings, can be the prevention of cruel transfer of risk and consequently the displacement of wealth resulting from cruelty by describing the mechanism of contracting based on the real sector of the economy against Riba.

Inflation and its distributive effects have consistently been one of the most important economic and social issues in countries without stable economic policies. Periods of chronic and high inflation have given rise to legal and Shari'ah-related questions, one of which is whether or not it is necessary to compensate the depreciation of fiat money in long term debts, bank deposits, and the like. As the compensation creates an illusion of paying Riba, the jurisprudential judgments in the issue has gone into three categories: nonnecessity (fungibility theory of fiat money), necessity (purchasing power theory of fiat money) and the middle solution (compensation for major losses). Criticizing all three points of view, this article presents a new explanation of the problem and a normative account of fungibility, contrary to the previous descriptive accounts which generally take fiat money system with depreciating money value for granted. Hence, the monetary system unable to meet the fungibility requirement set forth cannot be approved by Islamic jurisprudence. In the case of an antecedent inflation, compensation for major losses can only be prescribed as a "secondary law" (Aḥ kā m Al-Thā naviah) which is of a limited and temporary nature.

The goal of the positive economics is to describtion, explaining, and prediction, that is, by studying the relations between economic phenomena seeking to recognize reality as it is. In this way, the positive economy is crystallized in the form of the discovery of economic laws. In Islamic economics, we can also pursue this goal and analyze economic phenomena and community behaviors. Therefore, the main question of the current research is that the principles of the positive economic, can be deduced from the verses of the Holy Qur'an and the traditions? For this purpose, using the conceptual analysis method, all Quranic verses and narratives of some books of narrative were studied and the principles and traditions mentioned in the form of the declarative sentence and the conditional proposition (causal relation) and in the framework of economic resources, economic man and Production, distribution and consumption sectors were categorized. It is worth mentioning that in this article, only propositions were extracted that were both economical and predictable, while propositions that have only economic predicament are also widespread in Islamic sources. The achievement of the article is that economics has achieved some of these principles which have been referred to them in centuries before in religious sources and nowadays are regarded as scientific theories in the economics; Such as the principle of division of labor, the principle of time preference, the principle of risk sharing, etc. But some of the principles and traditions that have been raised in the Qur'an and the traditions are hypotheses that could open up a new window for economics and express the relation that in The economics is unknown, as is the tradition in terms of charity and economic growth, or the relationship of justice and blessing in society, as well as the relationship between usury and economic recession, and so on.

Clarification of definitions and functions of social sciences has important implications in our understanding about the nature and method of these sciences. This paper seeks to clarify the position of ideas about justice in the scientific effort of economists, by presenting an account about the nature of economics. In this paper, based on analytical-theoretical approach, and of course, relying on the notions of innovative economists, attempts to redefine the nature of economics. Accordingly, economics is the science of studying how to deal with the conflict of interests, which, of course, this study is based on the “ scientist’ s or analyst’ s perspective about justice” . One of the implications of this point of view is to help understanding the collapse of the positive-normative economics distinction; not only “ observations” , but “ theorizing” and “ providing scientific explanations” are influenced by “ the best way to deal with the conflict of interests in the view of the economic or researcher or analyst” . Ultimately, this article criticizes the famous distinction of “ science-school” in the literature of Islamic economics.

More than 9 years after its establishment, the Iranian Rial interbank market, despite the increase in the volume of its exchanges, has not been able to expand its position in the country's monetary market by creating the necessary variety in its tools and trading mechanisms. The purpose of this study is to investigate the pathology of the interbank market and design its new structure based on providing short-term monetary instruments and creating the necessary processes and institutions. The research method of this research is in the first stage, the use of descriptive method for collecting library resources and then through analyticalinferential method for jurisprudential and financial sources. In the second part, to design the structure, tools, main components of this market, as well as proposed solutions and explain the limits and limitations of the subject through survey methods and interviews with jurisprudential, financial and monetary experts have been used. In the third stage, using the opinions of experts, 3 stages of questionnaire design and after collecting the results through statistical methods, to analyze them and also write the results in the form of designing a new structure of the interbank market with emphasis on its main components. The results of this study indicate that through the pathology of the current interbank market and the study of the structure of this market in Western and Islamic countries on the one hand and appropriate research in the field of Islamic finance, it is possible to design a new structure of the interbank market. A bank based on the views of jurisprudential experts in the monetary and financial system of Iran.

Despite the prominent role of profit-loss sharing (PLS) contracts in theoretical literature of Islamic banking, the share of these contracts in Islamic banks is still very small. Studies identify the agency problem as the most important barriers to use such contracts in practice. Using a repeated game model, in this paper we show how the existence of a system memory (keeping the history of investment proposals and projects, agents´ performance and their ratings) in Islamic banks might alleviate the asymmetric information problem and facilitate the implementation of PLSs.

The theory of rational choice in explaining people's economic behavior is explained on the basis of methodological individualism, which is based on real existence for independent and similar individuals. The analysis of the contexts and logical reasons for the tendency of economists to individualistic methodology and the critical study of individual choice as a unit of analysis in theories of choice and behavior is a concern of this paper. According to research findings, the fundamentals of ontology, epistemology, and methodology such as individualism, deliverance, and nomenclature are influential in the tendency toward individualism. Most of the arguments put forward are invalid, and the correct ones are unable to correct the methodological correctness due to future problems. Problems such as lack of consideration of the real origin and effects of society and social institutions, lack of attention to psychological socialism in people's choices and behavior, lack of analysis of society as a whole, inability to deliver social institutions to individuals and inconsistency of methodological individualism with the component Rational choice, social concepts of economics and short-term economic analysis are among the critiques of methodological individualism, some of which merely refer to the theory of rational choice and some of which include all theories in economics or social sciences.

Welfare indicators and optimal allocation of leisure-labor are derived from the values of society, which is a part of the normative economic. One of the problems of societies is the lack of a standard for appropriate allocation of time between leisure and work in accordance with the values of societies. In this research, based on the Islamic values and the Hadith of Imam Musa Kazem (AS), the time allocation method of leisure time is introduced. In this hadith, Imam Musa Kazem (as) says that one day should be divided into four parts: A part of livelihood, a part of prayers and worship, a part of communicating with friends and a part for halal pleasures. Imam (AS) did not determine the amount of each of these parts, which seems to be determined according to time, place, and so on conditions. Accordingly, a time allocation method was introduced using a similar method to the human development index. Based on that, people, planners and Islamic rulers can find out about the time allocation of leisure-work in the Islamic community. This index can be used as a) spatial (provinces and regions), b) time (one country or region at different times), and c) professional (comparing the status of indicators in different industries).

One of the important goals of all organizations is to try to improve their performance. In this regard, they try to evaluate their organization based on criteria that are common or specific and to measure and compare their performance with other organizations and rivals in order to be able to achieve organizational goals. Considering the importance of the endowment institution in pursuit of economic and social goals, the purpose of this paper is to investigate the efficiency of endowments in Zahedan. In this study, the DEA method is used in the CC method, which is the leading evaluation of performance in various fields for manufacturing and service units. In the findings, it was observed that some of the rivals are more efficient than other competing ones. Out of 110 tested rods, the No. 34 Taleghani mosque, 72, 73 and 76 mosques belonging to the Al-Rasool mosque and the 92 and 94 mosques of Sajjadiyeh mosque in this collection have a 100% efficiency. Other rivals are inefficient.

Economic growth has been and will be of interest to economists and scientists in various human societies for a variety of reasons. Increasing wealth, prosperity, job creation and countless other things depend on the economic growth and development of a country. The goal of all economic theories has been to create growth and development. But each of these economic theories, according to the context of their formation, have introduced factors as key drivers of growth. The purpose of this study is to investigate and introduce the most effective drivers of economic growth in Iran (root causes) from the perspective of experts. For this purpose, the questionnaire and Delphi method were used and the results were extracted and analyzed by Mic-Mac software. In this study, optimal government policies and approaches, increasing transparency, following the example of developed countries and localization, stability of laws and its ease and increasing globalization of the economy, as the most effective drivers and focus of government to achieve optimal economic growth.