Nigerian Economic Recession: An Islamic Perspective
Keywords:
Recession, capitalism, socialism, Islamic, Adl.
Abstract
As Nigerian economy continue to face constant economic recession, despite abundant of both natural and human resources in Nigeria due to adoption of falsehood economic system of capitalism inherent in its economic system. The major world views of economic system is on either capital or socialism which proved to be failures for centuries the only solution to the present economic predicament is Islamic economic system, which is recession proof, as it is purely based on ―Adl‖ which is fairness and justice, social responsibility, transparency, trust worthiness, and sharia compliance.
References
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Aigner, D., C.A.K. Lovell and P. Schmidt (1977): ―Formulation of Frontier Production Function model”, Journal of Econometrics, 6 (July): 21
Divanna, J. and Sreth, A. (2009): A new Financial Dawn: The Rise of Islamic Finance; Leonardo and Francis; UK
Islamic Research and Training Institute (2014): Comprehensive human Development in Islam; IRTI, Jeddah
Ekpo, A. H (2013a). Promoting Inclusive Development In Nigeria: Issues of Policy Reforms And Expectations From Economic Agents, Distinguished Public Lecture, Department of Economics; University of Lagos.
Ekpo, A. H. (2017): The Nigerian Economy: Recession and Beyond; Bayero University 33rd Convocation Lecture (Jan 2017, Kano)
Iqbal, M. (2005) (Ed.): Islamic Finance and Economic Development; Palgrave; United Kingdom
Karwai, A.K., Habib, A and Jibril, B. T (Eds.) (2012); Islamic Economics: A Book of Readings; IIIT Nigeria
Mannan, M. A. (1990); Economic Development and Social Peace in Islam; Social Peace Foundation; Bangladesh
Maududi, A.S. (1989): ―The Meaning of the Qur’an‖, (Islamic Publication, Lahore).
Okojie, C and Shimeles (2006) ―Inequality in Sub-Sharan Africa, A Synthesis of recent research on the levels, trends, effects and determinants of inequality in its different dimensions‖, The Inter-Regional Inequality Facility.
Oxfam (2017): http: www.Oxfam.org/en/countries/Nigeria; (Retrieved 25th May 2017)
Paine. T. (1995): Rights of Man, Common Sense and other Political Writings; Oxford University Press UNDP (Various years): Human Development Report, (Oxford University, Press).
World Bank (2015): ―Global Islamic Finance Report‖, (World Bank, Washington, D.C)
Okojie, C and Shimeles (2006) ―Inequality in Sub-Sharan Africa, A Synthesis of recent research on the levels, trends, effects and determinants of inequality in its different dimensions‖, The Inter-Regional Inequality Facility.
Aigner, D., C.A.K. Lovell and P. Schmidt (1977): ―Formulation of Frontier Production Function model”, Journal of Econometrics, 6 (July): 21
Divanna, J. and Sreth, A. (2009): A new Financial Dawn: The Rise of Islamic Finance; Leonardo and Francis; UK
Islamic Research and Training Institute (2014): Comprehensive human Development in Islam; IRTI, Jeddah
Ekpo, A. H (2013a). Promoting Inclusive Development In Nigeria: Issues of Policy Reforms And Expectations From Economic Agents, Distinguished Public Lecture, Department of Economics; University of Lagos.
Ekpo, A. H. (2017): The Nigerian Economy: Recession and Beyond; Bayero University 33rd Convocation Lecture (Jan 2017, Kano)
Iqbal, M. (2005) (Ed.): Islamic Finance and Economic Development; Palgrave; United Kingdom
Karwai, A.K., Habib, A and Jibril, B. T (Eds.) (2012); Islamic Economics: A Book of Readings; IIIT Nigeria
Mannan, M. A. (1990); Economic Development and Social Peace in Islam; Social Peace Foundation; Bangladesh
Maududi, A.S. (1989): ―The Meaning of the Qur’an‖, (Islamic Publication, Lahore).
Okojie, C and Shimeles (2006) ―Inequality in Sub-Sharan Africa, A Synthesis of recent research on the levels, trends, effects and determinants of inequality in its different dimensions‖, The Inter-Regional Inequality Facility.
Oxfam (2017): http: www.Oxfam.org/en/countries/Nigeria; (Retrieved 25th May 2017)
Paine. T. (1995): Rights of Man, Common Sense and other Political Writings; Oxford University Press UNDP (Various years): Human Development Report, (Oxford University, Press).
World Bank (2015): ―Global Islamic Finance Report‖, (World Bank, Washington, D.C)
Okojie, C and Shimeles (2006) ―Inequality in Sub-Sharan Africa, A Synthesis of recent research on the levels, trends, effects and determinants of inequality in its different dimensions‖, The Inter-Regional Inequality Facility.
Published
2017-09-28
How to Cite
Yusuf, A. D., & Ahmad Razimi, M. S. (2017). Nigerian Economic Recession: An Islamic Perspective. International Journal of Islamic Banking and Finance Research, 1(1), 6-13. https://doi.org/10.46281/ijibfr.v1i1.34
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper
Copyright (c) 2017 Ali D Yusuf, Mohd Shahril Ahmad Razimi
This work is licensed under a Creative Commons Attribution 4.0 International License.
