Said, Mohamed Mohamed Tolba and Umachandran, Krishnan
(2018)
Evolving a Model in Islamic Economy:
Industrial Development.
International Journal of Muamalat, 2 (Issue. 1).
pp. 6-10.
ISSN 2590-4337
Abstract
Economic growth in the Islamic economy depends
on the demand and manufacturers competitive capability to
compete. The factors such as vicissitude of changes in production
volumes, labor productivity, employment, export and import
volumes affect the competitiveness of the organization’s position
in the Islamic economy. Capital and technological reserves are
obligatory to balance the enormous productivity fissure between
developing and developed countries symbolizing the world
economy. Need to exports is required as a nourishment to fill the
productivity gap. The structure of economic openness depends on
the level of free-trade, therefore advancement should entail an
identical momentum of long-term investment to the absorption of
substantial segments of all business activities. Hence this paper
drives a weave to connect various aspects of management
resources. The enlargement of international commerce requires a
critical flexibility in the setting of tariff rates by developing
countries and a steady rise in the sum of customers that can
participate in business with decreasing debt-line. To a
developing country, the benefits when it opens its borders to
foreign capital, improves FDIs and leads in generation of positive
employment impacting both job creation for suppliers, retailers
and tertiary employment effecting additional generation of
incomes aggregating on the demand. Islamic economization aids
economic growth and therefore poverty reduction, hence the
ecosystem should encompass complementary economic factors
and policies.
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