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Address financial crises under Islamic accounting thought | ||
| Journal of Administration and Economics | ||
| Article 1, Volume 0, Issue 97, 2018, Pages 271-290 | ||
| Author | ||
| M. D. Batool Mohammed Nouri al-Majid | ||
| Abstract | ||
| The universal economy, in general, and national Financial markets, in particular, suffer from a number of disturbances which have not been noticed since the great universal depression "stagnation" in 1929. There has not been such disturbances in money and energy markets and precious metals as it occurs nowadays. These Financial crises had caused a dangerous economical stagnation in the past, and they may have the same influences in the future.The continuous financial crises in most countries from an important phenomenon which should be paid attention to, since their negative effect have threatened the political and economical Constance "stability" of the nations intended. Among the most important characteristics of financial crises is the ability to move from one country into another one weather the latter is a developing or an advanced country. The nowadays universal crises which the universe suffers from is regarded as the most dangerous one which has never been seen or faced before. It's first remarks have appeared in U.S.A since 2007. In September 2008, it has been developed into frequent or continuous collapses "crashes" in many great financial organizations, in banks, assurance companies and investment boxes. Great continuous reductions in universal stock markets have accompanied in this crisis and spread, all over the world, into the economical sides taking the form of stagnation which affected on market movements. In the present research, the researchers try to shed light on the main financial crises which the world has passed through or experienced focusing on the universal one due to its modernity as far as its notion, reasons, and effects on the universal economy. As parallel to that, focus is given to the Islamic Accounting standards and their main inventor or exporter, then the Islamic model is presented as substitutive style to avoid the present crisis. | ||
| Keywords | ||
| Axis Accounting | ||
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