Is your economy sharia compliant?

The Guardian Also linked to by the Wall Street Journal Our system of sovereign sukuk ratings could benefit the global economy and promote better cross-cultural relations Imaduddin Ahmed Wednesday 2 February 2011 Think of two of the most common problems highlighted in today’s news: the state of the global economy and violence at the hands of Islamists. Here’s a possible remedy to both: a sovereign sukuk rating system. Such a rating would show which economies are sharia-compliant and hence suitable candidates for asset-backed Islamic bonds in the form of sovereign sukuks. The metrics used in such a rating would mean … Continue reading Is your economy sharia compliant?

What if the world had been following Islamic financial practices?

The Guardian Also linked to by Bloomberg Businessweek It has its limitations, but it’s worth considering how the Islamic approach to banking might have prevented the financial crisis Imaduddin Ahmed 7 January 2011 Sub-prime loans, which caused housing foreclosures in the US, are not allowed in Islamic finance. Photograph: Alex Wong/Getty Images Imagine a world without a financial crisis. No moral hazard, so brokers won’t sell mortgages without carrying out appropriate credit checks. Imagine banks not deliberately selling complex derivatives, knowing that they will be worthless. No short-selling speculation, so companies tinkering on the edge won’t be pushed over. Imagine … Continue reading What if the world had been following Islamic financial practices?

Update on Pakistan’s floods

Listen to the Interview Here: Radio interview with TiffinTalk, an Indian current affairs radioshow While the breaking news of the Pakistan floods has faded from the front pages of newspapers, only to be replaced by what sounds like flood induced damage to unfinished buildings at the Commonwealth Games, the fallout from the catastrophe is still very real.  As a matter of fact, for the scale of the disaster that Pakistan faced during this year’s monsoon, the amount of aid it received was stunningly low.  To give us a better understanding of the floods, we are joined by Imad Ahmed.  Imad … Continue reading Update on Pakistan’s floods

Pakistan, rebranded

The Boston Globe By Imaduddin Ahmed and Kapil Komireddi March 25, 2010 Pop-star Ali Zafar GOOGLE “PAKISTAN is’’ and you’ll find a host of common searches: “a failed state,’’ “a terrorist country,’’ “doomed’’ and — encompassing all of the above — “the problem.’’ Pakistan’s image is both the effect and a potential cause of terrorism: it scares away business investments, and leaves jobless youth without opportunities, ripe for mullahs who promise riches in the afterlife. In significant ways, however, the actual security risks faced by private enterprises in Pakistan is no greater than the violent threat they face in India. … Continue reading Pakistan, rebranded

What happened at Copenhagen and why China didn’t cooperate

The Friday Times (Pakistan) Imaduddin Ahmed | Jan 8, 2010 With China projected by Goldman Sachs to overtake the US as the largest economy by 2030, the way for the US to remain the most dominant force in global politics will be by having China sign itself into US-led global governance structures The generally accepted view among the scientific community is that human activity, through greenhouse emissions (mainly in the form of carbon dioxide), has contributed significantly to global warming. Global warming isn’t irrelevant. According to the Nobel-winning Intergovernmental Panel on Climate Change (IPCC), Pakistan can expect floods and rock … Continue reading What happened at Copenhagen and why China didn’t cooperate

Bhutto ist tot – es lebe die Demokratie!

Der Westen muss die pakistanische Mittelschicht unterstützen 01.02.2008 | von Imaduddin Ahmed Internationale Politik 2, Februar 2008, S. 111 – 113 Die Medien haben viel Aufhebens darum gemacht, dass Benazir Bhuttos Tod das Ende von Demokratie und Hoffnung in Pakistan … Continue reading Bhutto ist tot – es lebe die Demokratie!