By Basheer A. Oshodi
Constructing economies akin to these in sub-Saharan Africa are searching for reasonable monetary coverage prescriptions. regardless of monetary progress in international locations like Nigeria, poverty and unemployment blight the lives of many, in the course of lots. concurrently, a lot neo-classical fiscal inspiration is being puzzled opposed to the backdrop of worldwide fiscal meltdown, giving upward push to inquiry approximately extra necessary techniques to sustainable development.In An indispensable method of improvement Economics, Basheer Oshodi examines modernization theories, dependency theories, international process theories and rising twenty first century fiscal theories and hyperlinks a neo-modern mixture of financial suggestion with the practicalities of finance in components of the area the place poverty is rife. In a particularly African environment, over half the inhabitants are Muslims, Oshodi considers Islamic finance within the context of the triple background of indigenous tradition, Westernized Christianity, and Islam. He argues that the rules of Islamic banking and finance should be built-in with different components of that historical past, concentrating on assembly the demanding situations of poverty and unemployment. Islamic finance is not only a religiously-oriented, Sharia-compliant, replacement monetary version. it will possibly give a contribution to total socio-economic transformation and a much broader, people-centred method of fiscal improvement. overseas agencies, monetary associations, reserve banks, coverage makers, donor organizations and scholars will locate resonance during this worthwhile addition to Gower's Transformation and Innovation sequence.
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Extra info for An Integral Approach to Development Economics: Islamic Finance in an African Context
Audu’s mum died a long time ago, but he goes to his village often to see his maternal grandma and, along with other relations, gives her money monthly. This gives him much joy, he says. The above in-depth interviews illustrate real-life cases. The next sets of analysis are from secondary sources, which emerged in January 2012. 43), and the President of Nigeria increased it to US$1 per litre, arguing that the oil sector had to be liberalized, thus the need to remove the fuel subsidy. This resulted into a six-day national strike, and most importantly, the people’s reappraisal of overall governance.
Conclusion Until the 1980s, economic development theories over the last four centuries had been largely Eurocentric. In the same vein, research methodologies in economics seem more readily recognized when they are quantitative or based on microdata. The transplanting of these models, as I will seek to demonstrate in this book, is glaringly unfavourable to the South, and especially the African continent. It is in this regard that this book sets forth a different kind of proposition grounded in the ‘story of self, others and immediate social context’.
Early Monday morning, 25 February, while he was shaving, he had a second stroke and died. m. on the same day, according to Muslim rites. The first month was filled with visitors, and by the second month the realities of his death became clear. 12 A n I n t eg r a l A p p roa c h to D e v e lo p m e n t Eco n o m i c s No more guests. I was the only one from a relatively large polygamous family that had finished university and possessed a master’s degree. It was time to pay my school fees and the running costs of a relatively large house.
An Integral Approach to Development Economics: Islamic Finance in an African Context by Basheer A. Oshodi