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RE: [LandCafe] RE: Understanding Islamic Finance

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  • Paul Metz
    Dear Abdul-Nasser, Thank you for your additions. It may also have been studied and reported how taxation is done in Islamic countries. Especially the non-OPEC
    Message 1 of 6 , May 1, 2006
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      Dear Abdul-Nasser,
      Thank you for your additions. It may also have been studied and reported how taxation is done in Islamic countries. Especially the non-OPEC like Marocco and Jordan can show relevant practices - based more or less on the Quran theory you quote. In the OPEC the way oil and gas revenues are used by states and oilgarchs also seems to differ and lessons may be learned for the rent of the other "commons" like land.
      Paul Metz

      From: LandCafe@yahoogroups.com [mailto:LandCafe@yahoogroups.com] On Behalf Of abdulnasser baston
      Sent: zondag 30 april 2006 13:18
      To: LandCafe@yahoogroups.com
      Subject: [LandCafe] RE: Understanding Islamic Finance

      Paul and Friends
      Islamic economics including taxation, like capitalist or socialist economics is complicated and subject  [like the products of Mr Heinz] to 57 varieties. I believe taxation must be seen as part of a just social and economic order. The Holy Quran emphasis the ultimate ownership of all natural resources by the Almighty, and that wealth should circulate amongst the widest circle of people, with the better off supporting the poor.
      The most contemporary scholarly analysis of Islamic economics is a book translated into English as “Our Economics” by the Martyr Ayatullah Muhammad Baqir As-Sadr [may Allah give him a good reward]. Sadly the translation I have attempted to read was done by someone whose first language was not English.  It was well nigh impossible for me to understand.
      Chibli Mallat a Lebanese Christian scholar described As-Sadr’s economics as “ essentially dirigiste, with a significant role for the state in the pre-production and post-production phases”
      Mallat says As-Sadr’s work describes “ a distributionist and interventionist network ”.
      I would have thought that taxation would be very relevant to such a system. Certainly there was an historical land tax in the Islamic system called kharaj.
      Although Mallat says As-Sadr’s work justifies land as being a collective property. As Marx implies in the Communist Manifesto nationalising the land, is ineffective if the occupiers of the land do not pay the economic rent.
      Best wishes
      Abdul-Nasser Baston

      Paul Metz <metz@...> wrote:
      I especially wonder - as usual in this group - how Islamic taxation works.
      Paul Metz

      From: Wetzel Dave [mailto:Davewetzel@...]
      Sent: maandag 24 april 2006 11:09
      To: metz@...
      Cc: LandCafe@yahoogroups.com; abdulnasserbaston@...
      Subject: Re: Understanding Islamic Finance

      Not studied it specificly Paul but am not aware their approach is any more than not charging interest and this is dealt with in modern finance by repaying a larger capital sum.

      Maybe my comrade Abdul-Nasser can shed some light or re-direct our question? 
      Best Wishes,

      Dave Wetzel
      Vice-Chair TfL
      Tel: 020 7126 4200
      Sent from my BlackBerry Wireless Handheld

      -----Original Message-----
      From: Paul Metz <metz@...>
      To: Paul E. Metz ( IC ) <metz@...>
      Sent: Mon Apr 24 09:59:30 2006
      Subject: Understanding Islamic Finance

      Dear progressive economists,

      Has anyone ever studied the similarities of Land Taxation, Georgism and
      Mosaic economics and Islamic Finance ?

      This announcement from the UK is new to me, perhaps of interest for you and
      our better taxation and state finance debates.

      I look forward to your feedback.

      Paul Metz

      -----Original Message-----
      From: Tom Nott
      Sent: maandag 24 april 2006 10:38
      To: Info@...
      Subject: Understanding Islamic Finance

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