ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?

Muslim scholars from Egypt and British India formulated the principles of Islamic economy in the second half of the 1940s. At the turn of the 1970s-1980s a number of countries (Sudan, Iran and Pakistan) attempted to Islamize their financial systems. However, in none of the three, the experiment was...

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Autor principal:	R. I. Bekkin
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2018
Materias:	“islamic state” islamic economy zakah jizyah gold dinar International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/cf4495a876c642a9b28b1a3147266920
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spelling	oai:doaj.org-article:cf4495a876c642a9b28b1a31472669202021-11-23T14:50:40ZISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?2071-81602541-909910.24833/2071-8160-2017-6-57-132-142https://doaj.org/article/cf4495a876c642a9b28b1a31472669202018-02-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/741https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099Muslim scholars from Egypt and British India formulated the principles of Islamic economy in the second half of the 1940s. At the turn of the 1970s-1980s a number of countries (Sudan, Iran and Pakistan) attempted to Islamize their financial systems. However, in none of the three, the experiment was successful. Afterwards, the Muslim world has not undertaken to build a financial system based on the principles of Islamic economics and finance any more. However, interest in the application of individual institutions of the Islamic economy has not faded away. The article examines how the principles of Islamic economic doctrine were applied in the formation of the “state” budget in the terrorist entity “Islamic State” (IS). The author analyses the principal differences between the theoretical constructions of the Islamic economy and their practical implementation in the territories controlled by the IS. In fact, the IS implements a completely different concept of Islamic economy and Islamic finance (fundamentalist) from the one that was applied in a number of Muslim countries (modernist). Considering the practice of application of Islamic economic principles by the IS, the author of the article develops the thesis expressed in his earlier publications that there is no single universal Islamic economic doctrine that could be applied with some modifications in any society and in any jurisdiction. Moreover, the various interpretations of the economic provisions of Shariah can come into serious contradiction with each other. This is indicated, in particular, in the case of the IS, where, with the help of law-permitting institutions, they try to legalize activities that are illegal from the point of view of Shariah. Another important feature of the financial policy in the IS is the insignificant interest in modern Islamic financial institutions: banks, insurance (takaful) companies, etc. The author explains this as follows. In their attempt to build a caliphate, the ideologists of the IS and their followers take a traditionalist approach in which there is no place for institutions unknown in the 7th-13th centuries. For traditionalists, such institutions as Islamic banks, etc., formed in the second half of the XX century, are often unauthorized innovations (bida’).R. I. BekkinMGIMO University Pressarticle“islamic state”islamic economyzakahjizyahgold dinarInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 0, Iss 6(57), Pp 132-142 (2018)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	“islamic state” islamic economy zakah jizyah gold dinar International relations JZ2-6530
spellingShingle	“islamic state” islamic economy zakah jizyah gold dinar International relations JZ2-6530 R. I. Bekkin ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?
description	Muslim scholars from Egypt and British India formulated the principles of Islamic economy in the second half of the 1940s. At the turn of the 1970s-1980s a number of countries (Sudan, Iran and Pakistan) attempted to Islamize their financial systems. However, in none of the three, the experiment was successful. Afterwards, the Muslim world has not undertaken to build a financial system based on the principles of Islamic economics and finance any more. However, interest in the application of individual institutions of the Islamic economy has not faded away. The article examines how the principles of Islamic economic doctrine were applied in the formation of the “state” budget in the terrorist entity “Islamic State” (IS). The author analyses the principal differences between the theoretical constructions of the Islamic economy and their practical implementation in the territories controlled by the IS. In fact, the IS implements a completely different concept of Islamic economy and Islamic finance (fundamentalist) from the one that was applied in a number of Muslim countries (modernist). Considering the practice of application of Islamic economic principles by the IS, the author of the article develops the thesis expressed in his earlier publications that there is no single universal Islamic economic doctrine that could be applied with some modifications in any society and in any jurisdiction. Moreover, the various interpretations of the economic provisions of Shariah can come into serious contradiction with each other. This is indicated, in particular, in the case of the IS, where, with the help of law-permitting institutions, they try to legalize activities that are illegal from the point of view of Shariah. Another important feature of the financial policy in the IS is the insignificant interest in modern Islamic financial institutions: banks, insurance (takaful) companies, etc. The author explains this as follows. In their attempt to build a caliphate, the ideologists of the IS and their followers take a traditionalist approach in which there is no place for institutions unknown in the 7th-13th centuries. For traditionalists, such institutions as Islamic banks, etc., formed in the second half of the XX century, are often unauthorized innovations (bida’).
format	article
author	R. I. Bekkin
author_facet	R. I. Bekkin
author_sort	R. I. Bekkin
title	ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?
title_short	ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?
title_full	ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?
title_fullStr	ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?
title_full_unstemmed	ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?
title_sort	islamic economy in «islamic state»: is it possible?
publisher	MGIMO University Press
publishDate	2018
url	https://doaj.org/article/cf4495a876c642a9b28b1a3147266920
work_keys_str_mv	AT ribekkin islamiceconomyinislamicstateisitpossible
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ISLAMIC ECONOMY IN «ISLAMIC STATE»: IS IT POSSIBLE?

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