Samer Kantakji

𝐈𝐬𝐃𝐁 𝐈𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐋𝐚𝐮𝐧𝐜𝐡𝐞𝐬 𝐚 𝐍𝐞𝐰 𝐁𝐨𝐨𝐤 𝐓𝐢𝐭𝐥𝐞𝐝 '𝐄𝐬𝐬𝐞𝐧𝐭𝐢𝐚𝐥𝐬 𝐨𝐟 𝐈𝐬𝐥𝐚𝐦𝐢𝐜 𝐅𝐢𝐧𝐚𝐧𝐜𝐞'. The Islamic Development Bank (IsDB) has launched Essentials of Islamic Finance, a new book by Acting Director General Dr. Sami Al-Suwailem that offers a detailed treatment of the core principles of Islamic finance and their relevance to current economic conditions. Originally developed as a teaching note in 2011, the work has now been significantly revised and expanded into a broader framework that brings together Sharīʿah principles, economic reasoning, and practical application. The English edition, available online, updates the discussion with newer references, examples, and context shaped by events such as global financial crises, post-pandemic inflation, and rising concern over debt sustainability. The book focuses on foundational issues, including the prohibition of ribā, the role of zakāh and non-profit activity, the treatment of gharar, and the relationship between finance and the real economy. By revisiting core concepts in the context of inflation, leverage, and financial instability, the work appears to argue that Islamic finance is not only about compliance, but also about how risk, capital, and economic activity should be organised. The strongest contemporary debates in finance are increasingly about resilience, sustainability, and the social consequences of debt-heavy systems. A principles-based framework that reconnects finance to real economic activity may resonate beyond its traditional audience of Sharīʿah scholars and practitioners.

٢

This chapter, titled "The Role of the Islamic Investment System in Promoting the Principles of Social Governance and Commitment to Social Responsibility" co-authored by Prof. Syahidawati Hj. Shahwan and Dr. Al-Baraa Abdulrahman Al-Mekhlafi, AAAM. The chapter explores the mechanisms of the Islamic investment system in promoting corporate social responsibility (CSR) and social governance (SG). It was published in the book "Innovation and Transformation of Islamic Economics" by IGI Global Scientific Publishing, New York, USA. https://lnkd.in/gWdqfsgw

٣

‏١‏ ‏تعليق واحد‏

Central Bank of Iraq Denies Issuance of New Denominated Currency August 26, 2026 The Central Bank of Iraq has been closely monitoring recent reports and statements circulated by various media outlets regarding the printing of a new Iraqi currency with deleted zeros in preparation for its circulation. In this regard, we confirm that these reports are entirely without official foundation, and we deny that the bank has printed any new Iraqi currency with deleted zeros. Furthermore, any future project concerning the restructuring of currency denominations or the removal of zeros—should an official decision be made in this regard—will be subject to multiple legal, regulatory, and technical stages. It will be announced upon approval through the bank's official channels and various media outlets, alongside the specification of an appropriate transitional period allowing citizens, banks, and institutions to securely and systematically exchange the currency, ensuring the complete preservation of everyone's financial rights and obligations. The Central Bank of Iraq calls upon citizens and media outlets to rely exclusively on its official statements and channels to obtain information related to monetary policy, and to avoid depending on unverified news, figures, or information, given the confusion or harm to citizens' financial interests that may result from their circulation. Central Bank of Iraq Media Office #Central #Bank #Iraq #Issuance #New #Currency #$ #ID #dollar #CBI

٢

📌 Economics in a Verse (2) The Market… Freedom or Responsibility? Allah, the Exalted, says: “O you who believe, do not consume one another’s wealth unjustly, but only through trade conducted by mutual consent.” (Qur’an 4:29) 🔎 The Economic Principle in the Verse This verse establishes a foundational rule governing economic transactions: Wealth may not be transferred except through legitimate trade grounded in genuine mutual consent. The Qur’anic framework sets forth two essential conditions for any economic activity: 1️⃣ Legitimacy of the means (i.e., the transaction must not be unjust or illicit). 2️⃣ Authentic mutual consent free from coercion, deception, or manipulation. Accordingly, the market in the Qur’anic conception is not a sphere of unrestrained autonomy, but rather a morally regulated space structured by ethical accountability. 💡 Contemporary Application In modern economies, formal consent may often be present. But does substantive consent truly exist? Can a contract be considered just if material information is concealed? Is a price legitimate if it exploits the consumer’s vulnerability or necessity? Do misleading speculative practices qualify as trade conducted “by mutual consent”? The Qur’anic economic paradigm does not suffice with the formal legality of contracts; it penetrates to the substantive justice embedded within them. 📊 If This Principle Were Applied Today Full transparency in markets would become obligatory. Deceptive and manipulative practices would be criminalized. The notion of “legitimate profit” would be redefined within an ethical framework. Moral considerations would become integral to evaluating economic performance. 🌍 In the Qur’anic Economic Vision The market is not a jungle governed by power dynamics; it is a civilizational space that safeguards human dignity and promotes just exchange. 🧠 A Question for Reflection Is everything deemed consensual under contemporary legal systems necessarily just within a moral-economic framework? #اقتصاد_تمام_العاشرة

١٤

Board of directors’ performance and the extent of corporate social responsibility reporting This study, published in our journal Reporting and Accountability Review examined the impact of board size, presence of an audit committee, and chief executive officer (CEO) duality on the level of corporate social responsibility (CSR) reporting in Jordan. The population of the research included all non-financial companies in the industrial and service sectors listed on the Amman Stock Exchange (ASE) for the period 2006–2015. The study covered the impact before and after the issuance of the Jordanian Corporate Governance Code (JCGC) (Jordan Securities Commission [JSC], 2009). The study results suggest that the level of CSR reporting has significantly improved among Jordanian public listed companies since issuing the corporate governance code in 2009. This finding suggests that these companies may have adopted CSR reporting as a legitimation strategy to influence the external perception of their performance and convince the public of their legitimacy. #corporategovernance #reporting #accountability #CSR #listedcompanies Find this full-text paper below https://lnkd.in/djjC5fuV

١٩

‏١‏ ‏تعليق واحد‏

🌟‘Latest Articles’ series： Critical Pedagogy meets Islamic Pedagogy in a fragile but fertile trading zone—exploring tensions, overlaps, and the ethics of in-betweenness. ✍️Brahim Hiba & Achraf El Khalifi 🔗https://lnkd.in/dXn9HFxK

٣٣