Sunday, 18 October 2009 08:14
Islamic Responses to the Financial and Economic CrisesWritten by Abdul Karim Abdullah
An economic crisis is the flip side of a financial crisis. A financial crisis, whether on a personal, national or international level, takes place when economic activity, the source of income, slows down or stops. Economic activity generates income. When production slows down, income paid for the use of the factors of production also falls. As the gross domestic product declines, so does national income. When there is a recession or a depression, the economy needs to be.... Download the full article in pdf attachment (below)
Abdul Karim Abdullah @ Leslie Terebessy is an Assistant Research Fellow at IAIS Malaysia.