Editorial
This issue of the Journal contains four articles written by eminent writers and authors. Professor Ayubur Rahman Bhuyan in his paper “Performance of the Bangladesh Economy during FY 2011-12 and an Outlook for the Near Term” tries to review the performance of Bangladesheconomy during the fiscal year 2011-12. The paper focuses on the state ofreal economy, growth of GDP and its component sectors, structural change that has taken place in the economy, monetary and credit developments, public revenue and expenditures, external sector developments and inflation. The paper highlights both the bright and dark side of the economy during the period and expresses satisfaction over the growth rate of the economy at 6.3 percent against the targeted 7.0 percent. It identifies some factors like the slow economic growth in North America and Europe, shortage of power and gas, poor physical infrastructure, excessive government borrowing from the banking system, stagnant investment, high inflation and political instability etc. for slow growth of the economy. The paper terms the projected 7.2 percent growth target for FY 2012-13 as realistic but considers it to be contingent upon fulfillment of certain conditions like increase of export, expansion of investment and consumption, solution of power and energy crisis, settlement of political issues etc.
Sarwar Saifullah Khaled in his paper “Socio-Political and Ethical basis of an Islamic Economy: A Philosophical Approach” makes an attempt to discuss the socio-political pre-requisites of an Islamic economy based on justice and morality. The paper while identifying the above prerequisites tries to put emphasis on qualities of statesmanship, faith, reality, pragmatism, morality, religion and human well-being etc. with wide explanation and analysis in the context of Quran and Sunnah. The paper also makes a comparative analysis of the conditions in the light of different religious beliefs.
Abdul Awwal Sarker in his paper “Regulation and Supervision of Islamic Banks and Financial Institutions: Bangladesh Perspective” attempts to explain the role of Bangladesh Bank in guiding, supervising and controlling Islamic Banks and financial Institutions for smooth development of the sector. The paper highlights the status of Islamic law on finance and banking and examines the role of government, central bank, Islamic bonds and financial instruments in formalizing the Islamic financial system in the country. It concludes with some recommendations.
Foyasal Khan in his paper, “Waqf: An Islamic Instrument of Poverty Alleviation: Bangladesh Perspective” attempts to assess the role of waqf in reducing poverty in Bangladesh. In this context the paper tries to trace the history and development of waqf, its nature, kinds and dimensions etc. and compares the same with other Islamic charity instruments. The paper also tries to present some salient features of waqf census 1986 and makes some recommendations.
Vol. 22, No. 03 ISSN 0256 8586 July-September 2012
Articles
Professor A. R. BhuyanPerformance of the Bangladesh Economy
during FY 2011-12 and Outlook for the
Near Term
SarwarMd. Saifullah KhaledSocio-Political and Ethical basis of an Islamic
Economy: A Philosophical Approach
M. A. Awwal SarkerRegulation and Supervision of Islamic Banks and
Financial Institutions: Bangladesh Perspective
Foyasal KhanWaqf: An Islamic Instrument of Poverty Alleviation
– Bangladesh Perspective
THOUGHTS ON ECONOMICS
Vol. 22, No. 03 ISSN 0256 8586 July-September 2012
Professor A. R. Bhuyan07Performance of the Bangladesh Economy
during FY 2011-12 and Outlook for the
Near Term
Sarwar Md. Saifullah Khaled35Socio-Political and Ethical basis of an Islamic
Economy: A Philosophical Approach
M. A. Awwal Sarker59Regulation and Supervision of Islamic Banks
andFinancial Institutions: Bangladesh
Perspective
Foyasal Khan99Waqf: An Islamic Instrument of Poverty
Alleviation–Bangladesh Perspective
THOUGHTS ON ECONOMICS
Vol. 22, No. 03 ISSN 0256 8586 July-September 2012
Dr. M. Umer Chapra
Dr. Anas Zarqa
Dr. Fahim Khan
Dr. Monzer Kahf
Dr. Dilwanaz Siddiqi
Prof. Rafiqul Islam Molla
Dr. M. Ataur Rahman
Chief Editor:Janab Shah Abdul Hannan
Editor: Janab M. Nurul Amin
Member:Professor Ayubur Rahman Bhuyan
Member:Prof. M. Kabir Hassan
Member:Janab Mohammad Nurul Islam
Member:Dr. S.M. Ali Akkas
Member:Prof. M. Muzahidul Islam
Member:Prof.Md. Sharif Hussain
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THOUGHTS ON ECONOMICS
A Quarterly Journal of Islamic Economics Research Bureau
Vol. 22, No. 03, July – September 2012
ISSN 0256 8586
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