Kshama V. Kaushik and Kaushik Dutta
- Published in print:
- 2012
- Published Online:
- September 2012
- ISBN:
- 9780198072614
- eISBN:
- 9780199081592
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198072614.003.0002
- Subject:
- Economics and Finance, Economic History
This chapter describes various indigenous financial and business practices. A unique social innovation developed in ancient India, a merchant guild or sreni or nigama was akin to a corporate ...
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This chapter describes various indigenous financial and business practices. A unique social innovation developed in ancient India, a merchant guild or sreni or nigama was akin to a corporate self-governing entity with its own regulations which were duly recognized and even registered by the local authorities. Some other practices prevalent in ancient India were hundis, which were part of a sophisticated financial system for safe transfer of funds to carry out business transactions; loan deed forms called rnpatra or rnlekhya; nidhis or chit funds which were designed to cultivate the habit of thrift and savings amongst its members, and the bahi-khata and parta systems of bookkeeping and management. The authors suggest that rather than dismissing these ancient practices as outmoded, Indian businesses may gain from modifying them to suit modern commerce.Less
This chapter describes various indigenous financial and business practices. A unique social innovation developed in ancient India, a merchant guild or sreni or nigama was akin to a corporate self-governing entity with its own regulations which were duly recognized and even registered by the local authorities. Some other practices prevalent in ancient India were hundis, which were part of a sophisticated financial system for safe transfer of funds to carry out business transactions; loan deed forms called rnpatra or rnlekhya; nidhis or chit funds which were designed to cultivate the habit of thrift and savings amongst its members, and the bahi-khata and parta systems of bookkeeping and management. The authors suggest that rather than dismissing these ancient practices as outmoded, Indian businesses may gain from modifying them to suit modern commerce.
Clement Henry and Rodney Wilson
- Published in print:
- 2004
- Published Online:
- March 2012
- ISBN:
- 9780748618361
- eISBN:
- 9780748653089
- Item type:
- book
- Publisher:
- Edinburgh University Press
- DOI:
- 10.3366/edinburgh/9780748618361.001.0001
- Subject:
- Society and Culture, Middle Eastern Studies
Can the contemporary Islamic finance movement be shown to meet the requirements of modern commerce? In the wake of the terrorist attacks on America, the UN Security Council passed a resolution ...
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Can the contemporary Islamic finance movement be shown to meet the requirements of modern commerce? In the wake of the terrorist attacks on America, the UN Security Council passed a resolution targeting transnational sources of terrorist funds. The United States and the International Monetary Fund are encouraging the governments of the Middle East to adopt policies of economic liberalism, and a new type of capitalism, based on Islamic values and beliefs, is emerging. This book aims to explore the political implications of the slow but steady accumulation of Islamic capital and to analyse the connections between Islamic finance and Islamic political movements in Middle Eastern and North African countries. It also shows that the commonly perceived connection between Islamic finance, money laundering and terrorism is by no means the complete picture. Readers will learn to appreciate the various political contexts in which Islamic finance operates in the Middle East and North Africa, and will acquire some understanding of its political as well as economic constraints. Hopefully, possible misunderstandings about Islamic banking and finance will be corrected. The book is divided into two parts: Part One is thematic and lays the ground for the country-specific case studies in Part Two (covering the Sudan, Kuwait, Jordan, Turkey, Tunisia and Egypt). The contributors include political scientists, economists and historians.Less
Can the contemporary Islamic finance movement be shown to meet the requirements of modern commerce? In the wake of the terrorist attacks on America, the UN Security Council passed a resolution targeting transnational sources of terrorist funds. The United States and the International Monetary Fund are encouraging the governments of the Middle East to adopt policies of economic liberalism, and a new type of capitalism, based on Islamic values and beliefs, is emerging. This book aims to explore the political implications of the slow but steady accumulation of Islamic capital and to analyse the connections between Islamic finance and Islamic political movements in Middle Eastern and North African countries. It also shows that the commonly perceived connection between Islamic finance, money laundering and terrorism is by no means the complete picture. Readers will learn to appreciate the various political contexts in which Islamic finance operates in the Middle East and North Africa, and will acquire some understanding of its political as well as economic constraints. Hopefully, possible misunderstandings about Islamic banking and finance will be corrected. The book is divided into two parts: Part One is thematic and lays the ground for the country-specific case studies in Part Two (covering the Sudan, Kuwait, Jordan, Turkey, Tunisia and Egypt). The contributors include political scientists, economists and historians.
Matthias B. Lehmann
- Published in print:
- 2014
- Published Online:
- May 2015
- ISBN:
- 9780804789653
- eISBN:
- 9780804792462
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804789653.003.0002
- Subject:
- Society and Culture, Jewish Studies
This chapter focuses on the philanthropic network created in the eighteenth century by the Istanbul Jewish elite to provide support for the Jews in Ottoman Palestine. After looking at some ...
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This chapter focuses on the philanthropic network created in the eighteenth century by the Istanbul Jewish elite to provide support for the Jews in Ottoman Palestine. After looking at some seventeenth-century precedents, the chapter explores the circumstances under which the Istanbul-centered network came into existence and describes its structure and logistics. The chapter focuses on problems and tensions that emerged in the interaction between Istanbul and the communities in Palestine, and the problem of establishing trust and maintaining lines of communication in a network spanning a large geographic area. The chapter also situates the network in its Ottoman context and the context of parallel, commercial networks.Less
This chapter focuses on the philanthropic network created in the eighteenth century by the Istanbul Jewish elite to provide support for the Jews in Ottoman Palestine. After looking at some seventeenth-century precedents, the chapter explores the circumstances under which the Istanbul-centered network came into existence and describes its structure and logistics. The chapter focuses on problems and tensions that emerged in the interaction between Istanbul and the communities in Palestine, and the problem of establishing trust and maintaining lines of communication in a network spanning a large geographic area. The chapter also situates the network in its Ottoman context and the context of parallel, commercial networks.