By Basheer A. Oshodi
Constructing economies reminiscent of these in sub-Saharan Africa are searching for reasonable fiscal coverage prescriptions. regardless of monetary development in international locations like Nigeria, poverty and unemployment blight the lives of many, in the middle of lots. concurrently, a lot neo-classical monetary suggestion is being puzzled opposed to the backdrop of world financial meltdown, giving upward thrust to inquiry approximately extra indispensable ways to sustainable development.In An essential method of improvement Economics, Basheer Oshodi examines modernization theories, dependency theories, global method theories and rising twenty first century fiscal theories and hyperlinks a neo-modern mixture of fiscal idea with the practicalities of finance in elements of the realm the place poverty is rife. In a particularly African surroundings, over half the inhabitants are Muslims, Oshodi considers Islamic finance within the context of the triple historical past of indigenous tradition, Westernized Christianity, and Islam. He argues that the rules of Islamic banking and finance will be built-in with different parts of that background, 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 probably give a contribution to total socio-economic transformation and a much wider, people-centred method of financial improvement. overseas firms, monetary associations, reserve banks, coverage makers, donor organisations and scholars will locate resonance during this invaluable addition to Gower's Transformation and Innovation sequence.
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Additional resources for An Integral Approach to Development Economics: Islamic Finance in an African Context
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’. The book acknowledges the pressures posed by the external forces of Islam I n t ro d u c t i o n 19 and Western Christianity together with the indigenous background.
There I was Manager of Non-Interest Finance, juggling this with the role of Research Manager. In January 2013, urgent market demands for experts in the Islamic finance market lead me to become the Group Head of Non-Interest Banking at Sterling Bank – an indigenous Nigerian bank. My experience in the Nigerian state has deeply influenced my life. I have lived and worked in Nigeria for the bulk of my life. I was educated about Nigeria in school, and I feel Nigeria in my blood. What is unique about this country?
Our farmlands have been eroded by floodwater, people have lost their houses to the erosion, and our little river (Ezize Okpii) has been covered with sand. Our natural ancient streams (Omurima and Okpii) have been eroded by the gully erosion, no access for the poor people to get drinking water anymore, yet we put on semi-happy faces as Nigerians. Let the death of this so-called good president (Umaru Musa Yar’Adua) be a stepping-stone for the Liberation of the Biafra’s. My people are dying every minute of the most common thing in this world (water).
An Integral Approach to Development Economics: Islamic Finance in an African Context by Basheer A. Oshodi