Islamic Common Market an Alternative Model to Globalization

Mohd Ma’Sum Billah ()
Additional contact information
Mohd Ma’Sum Billah: King Abdul Aziz University

Chapter 5 in Islamic Economies, 2017, pp 63-77 from Palgrave Macmillan

Abstract: Abstract A step toward the formation of an Islamic Common Market (ICM) was taken to bring about a unity among the Islamic countries that would allow them to achieve sustainable economic progress. Among the Organization of Islamic Countries (OIC)’s prime objectives was to strengthen intra-Islamic economic and trade cooperation in order to achieve economic integration, leading to the establishment of an ICM (http://www.oicun.org/2/23/). An attempt is made in this chapter to analyze the possibility of the establishment of the ICM, which is the first step towards the reawakening of the Muslim ummah in strengthening the ties between Muslim countries by establishment of a Shari’ah-based trading and commercial system, which would ultimately aim at creating a global market platform with cooperation towards furtherance economic prosperity in the globe.

Keywords: Common market; Islamic; Shari’ah; Unity; Globalization (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:pcichp:978-3-319-47937-8_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9783319479378

DOI: 10.1007/978-3-319-47937-8_5

Access Statistics for this chapter

More chapters in Palgrave CIBFR Studies in Islamic Finance from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().