scholarly journals The Role of Islamic Financial Institutions in the Socio-economic Development in Malaysia

1991 ◽  
Vol 30 (4II) ◽  
pp. 1131-1142 ◽  
Author(s):  
Muhammad Anwar
Keyword(s):  
Economic Development ◽  
Financial Institutions ◽  
Third World ◽  
Critical Role ◽  
Leading Role ◽  
Muslim Countries ◽  
Socio Economic Development ◽  
Islamic Financial Institutions ◽  
The Third World

It is a truism to say that the financial sector plays a critical role in the socio-economic development of any country. Financial institutions provide for effective mobilisation and allocation of savings and this contributes effectively towards socio-economic development. Malaysia, which is, as of now, perhaps the fastest growing country in the third world, is characterised by a well-developed fmancial system. What, however, is unique about Malaysia is that, as in some other Muslim countries, conventional and Islamic fmancial institutions exist side by side, interacting with one another. The development of Islamic fmancial institutions in Malaysia has the potential to play a leading role in serving the Muslim Ummah and contribute towards socio-economic development of the country in conformity with Islamic se~ibilities. Yet their market share is rather insignificant in comparison with the conventional fmancial institutions. As elsewhere, financial institutions in Malaysia provide four distinct types of intermediation in the process of exchanging funds and fmancial instruments among the surplus units and the deficit units - viz., denomination intermediation, maturity intermediation, risk diversification intermediation, and liquidity intermediation.

Ideological Change and an Emerging Counter-Culture in Tunisian Politics

1974 ◽  
Vol 12 (4) ◽  
pp. 543-568 ◽  
Author(s):  
John P. Entelis
Keyword(s):  
Political Development ◽  
Political System ◽  
Third World ◽  
Critical Role ◽  
The Political ◽  
The Third ◽  
Counter Culture ◽  
The Third World ◽  
Ideological Change

Tunisia A has long been regarded as a model of political development and stability in the Third World. There is no doubt that the charismatic Habib Bourguiba, the aging (71) yet indefatigable leader of an effective nation-wide party apparatus, has helped ensure Tunisia's development from the period of the pre-independence struggle until today. It is not unnatural, therefore, given the critical role of Bourguiba in the operation of the political system, to question the degree of institutionalisation, stability, modernity, and democracy that Tunisia could retain after the passing of its dynamic leader.

scholarly journals ARCHITECTONICS OF BUDGET MECHANISM OF SOCIO-ECONOMIC DEVELOPMENT OF THE STATE

2018 ◽  
pp. 45-57 ◽  
Author(s):  
Zoryana LOBODINA
Keyword(s):  
Economic Development ◽  
Public Administration ◽  
State Regulation ◽  
The State ◽  
Practical Application ◽  
Leading Role ◽  
Socio Economic Development ◽  
Scientific Approach ◽  
The Relationship

Introduction. The need to neutralize the threats to Ukraine's national security requires review of the priorities of public administration. Given the leading role of the budget as the imperative dominant of the system of state regulation of socio-economic development, the use of which is linked to the practical application of the budget mechanism of the socio-economic development of the state, the feasibility of modernizing the said mechanism is beyond doubt. The above circumstances determine the indisputable relevance of the study of the architecture of the budget mechanism and the search for ways to improve its structure, the integration of financial methods, forms, tools and instruments. Purposes. The purpose of the article is to formulate its own scientific approach to the structuring of the budget mechanism of the socio-economic development of the state, the characteristics of its elements and the relationship between them. Results.The result of the study proved that the optimal combination of elements of the budget mechanism allows the state to effectively influence the socio-economic processes, ensuring the functioning and development of the national economy, affordable and quality public services to the population, solving social problems and others. So in terms of transformation of budgetary relations and orientation of public finance to economic growth and improving public welfare scientific approaches to structuring the budget mechanism require revisionand clarification. Conclusion. Taking into account the directions of budget resources movement, the budget mechanism of the socio-economic development of the state proposes to distinguish two main subsystems: the mechanism of budget funds formation and the mechanism of using budget funds. In each of the subsystems, financial methods, forms, tools, levers are distinguished and characterized in the context of providing the architectural budget mechanism.

Insurance Regulation in Aid of Development in the Third World: A Look at the Republic of Ghana

1986 ◽  
Vol 30 (2) ◽  
pp. 190-196
Author(s):  
Francis Achampong
Keyword(s):  
Third World ◽  
Developed Countries ◽  
Insurance Regulation ◽  
Local Economies ◽  
Developed Economies ◽  
Leading Role ◽  
Regulatory Systems ◽  
The Republic ◽  
The Third World

The role of law as a tool in aid of development is extremely important to less developed economies. In the area of insurance where insurers act as mobilisers of vast amounts of capital, the importance of regulation as a tool facilitating development cannot be overemphasised.In recognition of the increasing importance of insurance activity to the economies of less developed countries, the United Nations Conference on Trade and Development has played a leading role in helping developing countries fashion regulatory systems that maximise the contribution of their insurance industries to the development of their local economies.This paper looks at the importance of insurance to the Ghanaian economy and discusses the use of insurance regulation to aid development. The paper first looks at insurance in relation to the national economy as a whole, examining how regulation is used to fulfil the various aspects of the industry's importance in aid of development. The paper then looks at the industry and the important sections of the economy, considering how regulation aids development in these areas by fulfilling the various objectives of the industry.

scholarly journals OPTIMIZING THE DEVELOPMENT OF ISLAMIC FINANCIAL INSTITUTIONS IN WEST SUMATRA: ROLE OF LOCAL WISDOM ANALYSIS OF TUNGKU TIGO SAJARANGAN

2019 ◽  
Vol 7 (1) ◽  
pp. 183
Author(s):  
Mursal Mursal ◽  
Bayu Tri Cahya
Keyword(s):  
Qualitative Research ◽  
Economic Development ◽  
Financial Institutions ◽  
Research Data ◽  
Not Given ◽  
Sociological Approach ◽  
West Sumatra ◽  
Islamic Financial Institutions

<p>This study aims to analyze how the convergence of <em>Tungku Tigo Sajarangan</em> in sharia economic development through Islamic Financial Institutions (IFI), and then constructs how the concept of sharia economic development is based on the local wisdom of <em>Tungku Tigo Sajarangan</em> in developing IFI.</p><p>This research is a qualitative research with a sociological approach. The source of this research data was obtained from the informants who were considered to have information about the focus of this study, namely IFI managers and other informants who were considered to support this research.</p><p>Listening to the data obtained, this study concludes: First, the <em>Tungku Tigo Sajarangan</em> has not given an optimal role in the development of IFI in West Sumatra. Second, optimizing the role of <em>Tungku Tigo Sajarangan</em> in the development of IFI can be strengthened by increasing the synergy with TTS internal and related parties to perform socialization of sharia economic norms in massive, identification of syar'i transaction products, and internalization of <em>adat basandi syarak, syarak basandi kitabullah</em><em>. </em></p><p><strong><em> </em></strong></p>

scholarly journals Waqfintech and Sustainable Socio-Economic Development

2019 ◽  
Vol 6 (3) ◽  
pp. 130-141 ◽  
Author(s):  
Magda Mohsin Abdel Mohsin
Keyword(s):  
Economic Development ◽  
Technological Innovation ◽  
Financial Institutions ◽  
Relevant Literature ◽  
Blockchain Technology ◽  
Socio Economic Development ◽  
Islamic Financial Institutions ◽  
Conceptual Paper ◽  
Social Causes ◽  
Financial Technology

This paper aims to discuss the use of financial technology in waqf (Islamic endowment) for funding religious and social causes. It is believed that waqfintech could reach a wider audience and benefit more people in need through the use of innovative financial technology like crowdfunding and blockchain. The main objective of this paper is to introduce the concept of waqfcrowd and waqfcoin as a means of collecting and managing waqf in the digital age. Waqf institutions can thus take advantage of technological innovation to utilise the convenience and efficiency offered by financial technology. This is a conceptual paper which reviews the relevant literature regarding waqf and financial technology. One major limitation of this paper is that it does not discuss the regulatory and operational details of how to institutionalise blockchain technology in different regions. This paper intends to inspire Islamic financial institutions and waqf institutions to harness the potential of waqfintech to raise funds in an effective way.

scholarly journals Role of Character-Leaders in Development as Depicted in Swahili Literary Texts

2021 ◽  
Vol 4 (1) ◽  
pp. 21-30
Author(s):  
Oiko Fridah Gesare ◽  
Martha Nyangweso Syekei
Keyword(s):  
Economic Development ◽  
Third World ◽  
Developing World ◽  
The State ◽  
Literary Texts ◽  
Economic Success ◽  
The Third ◽  
Elected Leaders ◽  
The Third World

It has always been believed by the majority that elected leaders are a necessary component in the development of any country and more so in the developing world. This is so strong in that leaders are elected by their people through a competitive election because they believe they will influence economic development positively. Writers of literature are born and bred in the communities where they equally participate in the process of electing their leaders. Thus, when they write about the maxima or minimal roles played by these leaders in impacting economic development, they are believed to portray a true and to some extent a believable picture of the state of development in their respective communities. In this respect, this paper analyses the role played by the elected leaders in the realization of economic development in the third world as portrayed in selected Swahili literary texts. To achieve our main objective, the paper surveys the challenges of the third world and shows how the elected leaders tackle them to realize economic success. The paper concludes that elected leaders have downplayed their role in enhancing economic development and the result is underdevelopment experienced in the third world worse than that of the colonial leaders

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