著者
長岡 慎介
出版者
京都大学大学院アジア・アフリカ地域研究研究科附属イスラーム地域研究センター
雑誌
イスラーム世界研究 : Kyoto Bulletin of Islamic Area Studies (ISSN:18818323)
巻号頁・発行日
vol.7, pp.243-275, 2014-03-14

The Malaysian practice of Islamic finance has greatly contributed to the rapid growth of the industry in the first decade of the twenty-first century and so the term ‘Malaysia' is widely recognized as symbolizing the development of Islamic finance. However, this term is also mentioned negatively in criticisms of the current practices. The critics, known as the "Mudaraba Consensus School", who aspire to the ideals of Islamic economics and finance, have used the term of "Malaysia" to allegedly symbolize the prevalence of "bad" practices in the industry. This study focuses on the development of the Islamic capital market in Malaysia and explains how Malaysia has responded to the criticism from the "Mudaraba Consensus School". From the analysis, it can be observed that the Malaysian Islamic capital market has positively addressed this criticism by involving the consensus. Specifically, it has initiated the following three measures: 1) "equitization" of debt-based financial products as a direct response, 2) diversification of asset classes in the Islamic capital market, and 3) visualization of Sharia-compliant corporate assets which have a great potential to universalize the consensus. Such challenges by the Malaysian Islamic capital market pave the way for bridging the dichotomy between theory and practice in Islamic economics and finance. They also provide an alternative development blueprint for future Islamic economics and finance, which is different from that proposed by what the author refers to as the "New Horizon‘s' in Islamic Economics and Finance.
著者
川村 藍
出版者
京都大学大学院アジア・アフリカ地域研究研究科附属イスラーム地域研究センター
雑誌
イスラーム世界研究 : Kyoto Bulletin of Islamic Area Studies (ISSN:18818323)
巻号頁・発行日
vol.7, pp.320-336, 2014-03-14

Most of the Gulf States have been working on strengthening their financial industries in order to develop another sector that would provide an alternative to their oil industry. In this phenomenon Islamic finance has expanded its province in the financial sector, especially in the United Arab Emirates (UAE). The Islamic financial market grew around 20% on average from 2000 until the global financial crisis in 2008. The Dubai shock attracted massive attention from the world as Islamic financial products were involved. However, the Dubai shock has been overcome by the initiatives of the UAE and Dubai governments. This paper will study how the Dubai shock was overcome by the process of validating the "Dubai Approach", a new dispute resolution system for dealing with disputes related to Islamic finance in Dubai. Accordingly, this paper will examine the progress and effectiveness of the "Dubai Approach".
著者
小杉 泰
出版者
京都大学イスラーム地域研究センター
雑誌
イスラーム世界研究 : Kyoto Bulletin of Islamic Area Studies (ISSN:18818323)
巻号頁・発行日
vol.5, no.1-2, pp.175-191, 2012-02

The Study of Islam, or what is often called Islamic Studies, is a research field where the value system of Islam as well as its ideals and ideas throughout history are studied. While Islamic history and studies of contemporary Muslim societies are more concerned with the realities of societies within the Islamic world, either historical or modern and contemporary, the Study of Islam is centered on the religion of Islam as such and its ideas in religious, ethical, theological, philosophical, mystical and legalistic writings of authors of notable, and lesser, calibers. It has been, however, mostly concerned with the pre-modern eras, because Islam had been long considered as a glorious religion before the advent of modernity, and therefore, as a closed system, until the manifestation of the Islamic revival in the last three or four decades. The globalization of the last two decades or so has also added a wider importance to the Islamic revival as the Islamic world has proved to be a force to be reckoned with in international relations. The Islamic revival has caused renewed interest in Islamic affairs, and has promoted research and studies on the contemporary Islamic world, and there have been substantial academic developments in this regard, including the ambitious launch of Islamic Area Studies in Japan. The Study of Islam focusing on the contemporary religious ideas, however, has not been sufficiently pursued against the need to expand its scope from the pre-modern to the contemporary eras. Islam has proved to be a vital religion with its own ideas in the global age, so the Study of Islam should study such dimensions, with its wealth of resources coming from the accumulated research achievements on the pre-modern eras. This means that Islam should be treated as a system open to the present and the future, not just as a closed system in the past, to understand its current and prospective dynamics. Since any study on a current Muslim society requires intellectual resources from the textual studies in the Study of Islam, new studies in this field can and will contribute to studies of all related fields. The major subfields in the Study of Islam, which need immediate attention, are: (1) Tafsīr, or interpretations of the Qur'an; (2) Hadīth studies; (3) Creed, theology and firaq studies; (4) Philosophy; (5) Jurisprudence, including fiqh of politics and governance; (6) Tasawwuf, ethics and mystical metaphysics; and (7) New sub-fields such as Islamic economics and Islamic bioethics.