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This article provides a comparative analysis of the key principles underlying traditional Western finance and Islamic finance. The two financial systems are examined in terms of their foundational philosophies, practices around interest and risk-sharing, ethical constraints, and governance models. Key areas of similarity and difference are highlighted. The analysis reveals that while both systems aim to facilitate economic activity, significant disparities exist in their fundamental principles. Islamic finance is built upon religious tenets emphasizing risk-sharing, the prohibition of interest, and ethical constraints on permissible investments

  • Название журналаRaqamli iqtisodiyot
  • Номер выпуска7-son
  • Количество просмотров 32
  • Количество прочтений 32
  • Дата публикации 05-07-2024
  • Язык статьиIngliz
  • Страницы680-686
English

This article provides a comparative analysis of the key principles underlying traditional Western finance and Islamic finance. The two financial systems are examined in terms of their foundational philosophies, practices around interest and risk-sharing, ethical constraints, and governance models. Key areas of similarity and difference are highlighted. The analysis reveals that while both systems aim to facilitate economic activity, significant disparities exist in their fundamental principles. Islamic finance is built upon religious tenets emphasizing risk-sharing, the prohibition of interest, and ethical constraints on permissible investments

Ўзбек

Ushbu maqola an’anaviy moliya va Islomiy moliya asosidagi asosiy tamoyillarning qiyosiy tahlilini taqdim etadi. Ikki moliyaviy tizim o‘zlarining asosiy falsafalari, qiziqish va xatarlarni taqsimlash amaliyoti, axloqiy cheklovlar va boshqaruv modellari nuqtai nazaridan ko'rib chiqiladi. O‘xshashlik va farqning asosiy sohalari ko‘rsatiladi. Tahlil shuni ko‘rsatadiki, ikkala tizim ham iqtisodiy faoliyatni yengillashtirishga qaratilgan bo‘lsa-da, ularning asosiy prinsiplarida sezilarli farqlar mavjud. Islomiy moliya xavfni taqsimlash, foizlarni taqiqlash va ruxsat etilgan investitsiyalarga axloqiy cheklovlarni ta’kidlaydigan diniy qoidalarga asoslanadi.

Русский

В этой статье проводится сравнительный анализ ключевых принципов, лежащих в основе традиционных западных и исламских финансов. Две финансовые системы рассматриваются с точки зрения их основополагающей философии, практики распределения процентов и рисков, этических ограничений и моделей управления. Выделяются ключевые области сходства и различия. Анализ показывает, что, хотя обе системы направлены на облегчение экономической деятельности, в их фундаментальных принципах существуют значительные различия. Исламские финансы основаны на религиозных принципах, подчеркивающих разделение рисков, запрет на проценты и этические ограничения на допустимые инвестиции.

№ Имя автора Должность Наименование организации
1 Xikmatov A.A. Master student Digital Economy, Bukhara State University
2 Nurov Z.S. teacher Department of Economics, Bukhara State University
№ Название ссылки
1 Iqbal, Z., & Mirakhor, A. (2011). An introduction to Islamic finance: Theory and practice. John Wiley & Sons
2 Islamic Financial Services Board (IFSB). (2020). Islamic Financial Services Industry Stability Report
3 Ayub, M. (2009). Understanding Islamic Finance. John Wiley & Sons
4 Usmani, M. T. (2002). An introduction to Islamic finance. Brill
5 Warde, I. (2000). Islamic finance in the global economy. Edinburgh University Press
6 Chapra, M. U. (1985). Towards a just monetary system. International Institute of Islamic Thought (IIIT)
7 Siddiqi, M. N. (2004). Riba, bank interest and the rationale of its prohibition. Islamic Research and Training Institute
8 Khan, M. M., & Bhatti, M. I. (2008). Islamic banking and finance: on its way to globalization. Managerial finance
9 Iqbal, M., & Molyneux, P. (2005). Thirty years of Islamic banking. Palgrave Macmillan.
10 Askari, H., Iqbal, Z., & Mirakhor, A. (2011). New issues in Islamic finance and economics: progress and challenges. John Wiley & Sons
11 Bodie, Z., Kane, A., & Marcus, A. J. (2013). Essentials of investments. McGraw-Hill/Irwin
12 Mishkin, F. S. (2007). The economics of money, banking, and financial markets. Pearson education
13 Shiller, R. J. (2012). Finance and the good society. Princeton University Press.
14 Rethel, L., & Sinclair, T. J. (Eds.). (2012). The problem with banks. Zed Books Ltd.
15 Islamic Financial Services Board (IFSB). (2020). Technical Note on Financial Inclusion and Islamic Finance
16 World Bank & Islamic Development Bank Group. (2016). Global Report on Islamic Finance: Islamic Finance - A Catalyst for Shared Prosperity? Asian Development Bank Institute. (2019). Principles of Islamic Finance and the Development of Islamic Finance in Asia
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