Abstracts

Table of Contents

The Methodology of Fiqh (Jurisprudence) of Economic Theories from Martyr Sadr's View / Hassan-Aqa Nazari /  Mahdi Khatibi    5
Denotations of the Theory of Normative Ethics in Economic Policy Making; Lessons for Islamic Economics / Seyyed Hadi Arabi /  Mohammad Jawad Rezaei / Mahdi Movahhedi Becknazar    29
Accounting Resources Allocation (Mudarabah-Bailment of Capital-, Investment and Possession Acquired by Renting) in Islamic Banking / Mahdi Toghyani /  Amir 'Abbas Ajori Aisak / Marjan Taheri Saffar    51
The Principles and Criteria of Human Progress from the View of Islam /
 Mohammad Jamal Khalilian / Seyyed Hamid Jowshaqani / Qasim 'Askari  / Mohammad Bidar     77
Fiqhi (Jurisprudential) Review of Currency Swap and Assessing the Possibility of using it in Islamic Markets /  Majid Rezaii Davani / Mohammad Jawad Akbari    103
An Analysis of the Frameworks and Standards of Public Sector Ethics / Yadullah Dadgar     129
The System of Environmental Ethics in the View of Islam /  Sa'eed Farahanifard / Mohammad Ali Farahanifard    151

The System of Environmental Ethics in the View of Islam

 Sa'eed Farahanifard / Associate professor of university of economics, Tehran     farahanifard@ues.ac.ir
Mohammad Ali Farahanifard / MA     mali.farahani@gmail.com
Received: 2013-11-9 - Accepted: 2014-4-7

Abstract
The present acceleration of economic growth in countries has caused and gradually developed environmental crises in the world. Analyzing this problem morally, the present paper reviews two contradictory views in this regard. Some believe that existing crisis is due to separation from teachings of religions and that increase in the grounds of moral and religious education is its solution. Adopting a secular approach, others regard such religious teachings as disapproving attachment to this world and permission of excessive use of natural resources as influential factors for the creation of the crisis. This paper hypothesizes that this crisis should be regarded the effect of separation from religious values. The research findings indicate that, in the view of religion, especially Islam, natural resources and other divine graces are created for all men and environment is respected in sacred law, and that environment will protected by strengthening individual religious principles and such social institutions as commanding the good and forbidding the bad.
Key words: Environment, Inter-generation Justice, Environmental Ethics, Stable Development, Islamic Ethics.
JEL: P4, Q56, O44 

An Analysis of the Frameworks and Standards of Public Sector Ethics

Yadullah Dadgar / professor of economics, Shahid Beheshti University     Yydadgar@gmail.com
Received: 2013-11-1 - Accepted: 2013-3-14

Abstract
An investigation into public sector ethics plays a basic role in understanding the effect of ethics on the behavior of public sector agents, government's counselors and formal and inform institutions, and in improving public policy making. Using the content analysis, historical-comparative methods, and taking into consideration the research principles of public sector economics, the present paper analyzes the frameworks and standards of public sector ethics. The research findings indicate that institutionalization of ethics in public sector necessitates the realization of the optimal size of government. A best government is recognizable on the basis of such features as applying meritocracy in choosing high level cadre, funding expenses through tax, acting in a limited period, and having a mechanism to dismiss unable agents without imposing expense.. Among the other findings of this research is the recognition of a gap between moral teachings in public sector and behavior of administrators of public sector in the country.
Key words: Public Sector Ethics, Ethical Standards, Public Sector.
JEL: D63, D35.

Fiqhi (Jurisprudential) Review of Currency Swap and Assessing the Possibility of using it in Islamic Markets

 Majid Rezaii Davani / Assistant professor of economics department, Mufid University
    rezaeedavani@gmail.com
Mohammad Jawad Akbari / PhD student of Fiqh (jurisprudence) and principles of Islamic law
Received: 2013-10-19 - Accepted: 2013-3-16

Abstract
In recent decades, currency swap has been introduced as one of the efficient tools to cover the risk of assets in currency in Islamic financial markets. Using the method of legal-deductive study, the present paper investigates the legitimacy of this financial tool. The research findings indicate that the main legal problem of this tool is the interest which parties pay mutually. This paper introduces two different approaches for solving this problem. The first approach necessitates interpreting and justifying this contract as a usury-free contract like the "contract of promise". The second approach requires drawing a new contract as an Islamic swap contract by using such contracts as contract of promise, tawarruq contract* and the method of currency options contract. The review of proposed methods for issuing Islamic swap indicates that the method of contract of promise in superior to tawarruq contract.
Key words: Derivative Tools, Currency Swap, Risk Coverage, Islamic Bonds.
JEL: E44, G32, P4
___________________________________
* Tawarruq is a financial instrument in which a buyer purchases a commodity from a seller on a deferred payment basis, and the buyer sells the same commodity to a third party on a spot payment basis (meaning that payment is made on the spot). The buyer basically borrows the cash needed to make the initial purchase 

The Principles and Criteria of Human Progress from the View of Islam

 Mohammad Jamal Khalilian / Associate professor of economics department, IKI
    mg_khalil41@yahoo.com
Seyyed Hamid Jowshaqani / PhD student of philosophy of Islamic economy, IKI    
Qasim 'Askari / PhD student of economics, 'Edalat University
Mohammad Bidar / PhD student of philosophy of Islamic economy, IKI    
Received: 2012-3-6 - Accepted: 2013-8-23
Abstract
Providing the index of human progress form the view of Islam can be regarded one of the important issues in developing an Islamic-Iranian model of progress. It is necessary to take into consideration the criteria and principles of Islamic human progress in order to achieve this aim. The index of conventional human development, which has a particular and limited attitude towards man, limits all aims of the index to material well-being and neglects man's mental and spiritual aspect which is his most basic existential dimension. Using an analytical-deductive-descriptive method, the present paper seeks to extract the criteria of human progress in the view of Islam from Quranic verses and traditions, and elaborate on the principles governing it. The research findings indicate that religiosity, knowledge and science, broad mindedness, dignity and providing livelihood are four criteria for human progress, from the view of Islam. Accordingly, the index of human progress takes into consideration not only the criteria of index of conventional human development including science, relative health and well-being but other issues such as religiosity, knowledge, dignity and broad mindedness, as well. The criteria introduced for human progress are based on intellectual principles of Islam including its transcendent view of man and perfection. Offering these criteria can introduce distinct indices for human progress, some of which are referred to in the paper.
Key words: Criterion, Index, Human Development, Human Progress.
JEL: O15, P4 

Accounting Resources Allocation (Mudarabah-Bailment of Capital-, Investment and Possession Acquired by Renting) in Islamic Banking

Mahdi Toghyani / Assistant professor of department of economics, Isfahan University     mtoghyani@gmail.com
 Amir 'Abbas Ajori Aisak / MA student of Islamic economy, Isfahan University
Marjan Taheri Saffar / PhD student of agriculture economy, Firdausi University of Mashhad
Received: 2013-10-30 - Accepted: 2014-3-16
Abstract
The difference between methods of resource allocation in usury and usury-free banking necessitates developing a different system of accounting, while existing accountancy of our country's banks is not so much different from that of conventional banks. The present paper seeks to review the problems of accounting resource allocation in some contracts and compacts (Mudarabah, investment and possession acquired by renting) in Islamic banking. A library survey, an in-depth interview, and polling the pundits of accountancy are used to gather the data which are analyzed by a descriptive-analytical method. The surveys conducted in this research indicate that common accounting model and financial reporting in Iran's banking do not enjoy necessary capabilities to meet the users' need and legal requirements governing usury-free banking activities, account keeping, and reporting benefit or loss based on real effects of function resulted from partnership contracts. This method separates the Mudarabah contract and direct investment from their nature.
Key words: Banking Accountancy, Accountancy Based on Contracts, Islamic Aanking, Mudarabah, Musharakah (partnership), Possession Acquired by Renting Contract.
JEL: G24, M41, P4 

Denotations of the Theory of Normative Ethics in Economic Policy Making; Lessons for Islamic Economics

Seyyed Hadi Arabi / Associate professor of THE research center of seminary and university.    Sharabi@rihu.ac.ir
 Mohammad Jawad Rezaei / PhD student of economics (Islamic economics) Imam Sadiq (peace be upon him)
      University    J.rezaei@isu.ac.ir
Mahdi Movahhedi Becknazar / PhD student of economics (Islamic economics) Imam Sadiq (peace be upon him) University     Movahedi@isu.ac.ir
Received: 2013-7-21 - Accepted: 2014-3-13
Abstract
From different dimensions including setting aims and choices, economic policy making necessitates the value judgment on the basis of selected parameters. Conventional economics makes decision about alternative situations on the basis of parameters intended by Pareto and techniques of cost-benefit, which are based on the theory of utilitarianism in ethics. Although adopting this basis in policy making has caused some advantages for the conventional economics, it has left some problems. Using a descriptive-analytical method, the present paper investigates the relationship between policy making in conventional economics and its principles of normative ethics and examines its requirements for policy making in Islamic economics. The research findings indicate that adopting the theory of utilitarianism, as the only basis for policy making in Islamic economics, makes many deficits in spite of its advantages. Although this paper does not seek to provide the theory of normative ethics of Islam as the basis of economic policy making, it criticizes and corrects the problems caused by basing policies only on utilitarianism.
Key words: Ethics and Economics, Philosophy of Ethics, Normative Ethics, Moral Principles of Islamic Economics, Cost-benefit Analysis.
JEL: D61, D63, D78 

The Methodology of Fiqh (Jurisprudence) of Economic Theories from Martyr Sadr's View

Hassan-Aqa Nazari / professor of department of economics, the research center of seminary and university    hnazari@rihu.ac.ir
 Mahdi Khatibi / PhD student of philosophy of Islamic economy, IKI    m.kh47@yahoo.com
Received: 2013-1-31 - Accepted: 2013-8-21

Abstract
Offering the principles of formulating economic policies of Islamic government is one of the most important missions of governmental fiqh. This task necessitates offering a distinct method for extracting the economic theories of Islam from Islamic sources. No doubt, martyr Sadr is the first jurist who initiated this method and attempted to extract economic theories by establishing the method of fiqh of theories. Using a descriptive-analytical method, the present paper investigates the method of fiqh of economic theories in martyr Sadr's view. The research findings indicate that the method proposed by martyr Sadr necessitates taking into consideration the economic rules and concepts as the superstructure and extracting the principles and theories of Islamic economic as infrastructure. This method pave the ground for extracting the theories of Islamic economy and, consequently, economic macro-decision making of Islamic government. This paper criticizes and evaluates doubts cast on this method including the problem of authority and basing it on preference and syllogism.
Key words: The Fiqh of Theory, Islamic Economics, Economic System.
JEL: B41, H73