ჼБ˓˽͞ͻ͌ᩆᜨድɹɛʠɹՕഓങᏼʛ
⏎ჿᠶɭࡸᤋɹ᭬ᇕᐵغˁʠɊɌɩ⏎
ᬏǵࣩǵષǵЂ*
An Analytical Framework for Contemporary Islamic Financial
Studies: Towards an Integration of Theory and Practice
with Interdisciplinary Approaches
Nagaoka Shinsuke*
Since the 1970s, Islamic financial institutions have grown rapidly and spread widely, now numbering over 300, and operating in 50 countries. The contemporary Islamic financial system consists of both Islamic financial instruments in pre-modern era and innovative elements that conform with contemporary economic situations. As a result, controversial issues have arisen both in theory and in practice concerning how Islamic financial institutions construct and operate their financial services and activities. Contemporary Islamic financial studies focus on such issues by various analytical approaches, but such approaches don’t appear to grasp fully the diversity of the practices in Islamic financial institutions worldwide. This paper provides an analytical framework for contemporary Islamic financial studies in order to grasp such diversity. The framework involves analysis of three factors:
1. Conformity of theory and practice in each Islamic financial institution with Islamic law (fiqh).
2. Extent of achievement of economic rationality measured by both profitability and efficiency.
3. Characteristics of the region where an Islamic financial institution is operating. By examining the process of co-ordination of these three factors in Islamic financial Institutions, I conclude that the analytical framework enables us to describe the diversity of the practices in Islamic financial institutions. Furthermore, I suggest that this analytical framework is a benchmark for exploring the peculiar concept of economy in Islam.
* ϴᨊ߂߂ˏ˻ˏˏ̶͠ˡܩݖድድዀ⏋Graduate School of Asian and African Area Studies, Kyoto University
ѡ̙ъ̙ѳ̙ѝ
˓˽͞ͻ͌ɹఠᒶȴʰྲᑶɇʶɛႶᕶɹᐁཕըʦჿᠶɻ⏋մᦏБɹ˓˽͞ͻ͌γᅠɹɇ ʚɊʚɲݭᯆɫɹࡸᤋɴȲȦɩ߂ȷɲ৲ւˁഗɛɌɛɭɇʶɩȦʳ⏏ɌȴɌ⏋ᦏБГᭇɹᣂ ೣςᒶ˹˽̘͌ɹ༡ᦩɴʭɤɩ⏋ɗɹʭȩɲࡸᤋȵᝠᖏدȴʰࠒˁ༥ɌɛɄɭɫ⏋Ⴖᕶɹᐁ ཕըʦჿᠶɻ⏋رᇕድʦᏙᡮᇕɲድɹࢪᢒɴɻɲʳʢɹɹ⏋ȼɹϺǾɴɭɤɩɻ ˓˽͞ͻ͌γᅠɹᥞȴɌȷؑˁᣱɇɓʳ᧨ᅋɴଁʱάȵɤɩȦɛ⏏1) ɌȴɌ⏋1970 ॷБГ ᭇɹ˓˽͞ͻ͌γᅠˁμਕɭɐʳ˓˽͞ͻ͌ᩆᜨลᬠɹሂ๖ȽጓɻϟˁΥɇɓɛ⏏ɗɄ ɫɻ⏋մᦏБɴᅎȦʰʶɩȦɛᐁཕըʦჿᠶȵԗʃᔰӵˁ༟ʃʳɄɭɴɲʱ⏋ɗʶʰˁჼБ γᅠɹឹᠱɴ᧟غɐʳʭȩɲ০ɫԗ෯፷Ɍɛȩȭɫ⏋˓˽͞ͻ͌ᩆᜨลᬠɹࡸᤋɴ᧟ᅎɐʳɄ ɭȵິʠʰʶɛ⏏ჼБ˓˽͞ͻ͌ᩆᜨድɭɻ⏋ɗɹʭȩɴɌɩჼБɴᇎݭɌɩȷɛ˓˽͞ͻ ͌ᩆᜨɹࡸᤋɭɗʶˁఌȭʳჿᠶˁᓒ࢘ɐʳድ᯿ݖɫȡʳ⏏ɗɹɹ˓˽͞ͻ͌ᩆᜨลᬠɹ ࡸᤋɻ⏋ȼɹܩݖɫΥࡴɹଁ֒ˁؚʠ⏋˓˽͞ͻ͌γᅠɹԒɴঃȼୟ߂ɌɩȦɤɛ⏏ɗʶ ɴЫɤɩ⏋˓˽͞ͻ͌ᩆᜨลᬠɹࡸᤋʢɲʢɹɭɲɤɩȦɤɛ⏏ɌȴɌ⏋ਃഀɹჼБ˓˽ ͞ͻ͌ᩆᜨድɻ⏋ೣܕԒɹድɻʢɠʸ˃ɹɄɭ⏋༠ɹድɴȲȦɩʢ⏋ɗɹʭȩɲࡸ ᤋɹਸˁਖɑɌʢᇕተɴȭɩȦʳɭɻៜȭɲȦɭೣዣɫɻᓒȭʳ⏏ɗɹʭȩɲድɹჼ Ⴅˁᤑʚȭɩ⏋ೣዣɻ⏋ჼБγᅠɴঃȼࣙᬖɇʶʳ˓˽͞ͻ͌ᩆᜨลᬠɹࡸᤋɹɲࠒˁ⏋ ɗɄɫᑵʱঃɁʰʶʳჿᠶɭࡸᤋɹᐳᬠѥɴמՕઝɌɲȵʰȭʳɛʠɹՕഓങᏼʛˁர ᣱɐʳɄɭˁ᠅ʛɛʢɹɫȡʳ⏏ ೣዣɹ෯ଁɻ๖ɹɭȲʱɫȡʳ⏏ፀ 1 ፲ɫɻ⏋ᓒ࢘ɹάྈҺɭɌɩ⏋Ʉʶʚɫೣɹድ ɴȲȦɩਖɑɌʢჿɇʶɩɄɲȴɤɛ˓˽͞ͻ͌ᩆᜨˁʠȽʳᡉෙਥɴɦȦɩ⏋؏ൔɲࡴ ᒶˁȩ⏏ᐚȼፀ 2 ፲ɫɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹرᇕࣙᬖˁ 4 ɦɹಁೝɴՕȿɩѺሮɌ⏋ ృɹ֪كʢيʠɩɗɹჼႥˁЂɐʳ⏏ɗɌɩ⏋ፀ 3 ፲ɫɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȿ ʳࡸᤋΫɹᠩᰍˁ୷ʱᦐʱ⏋ɗʶʰɴࢪɌɩჼБ˓˽͞ͻ͌ᩆᜨድȵɰɹʭȩɲˏ̺ͦͻ̍ ɴʭʳᓒ࢘ˁɤɩȷɛȴˁድ֪كɭɌɩʚɭʠʳ⏏ፀ 4 ፲ɫɻ⏋մ፲ɫɹ˵ͻ̾˓ˁᤑ ʚȭɩ⏋ɗʶʰɹکᰍဣˁ୭Ɍɛȩȭɫ⏋ჼБγᅠɴঃȼࣙᬖɇʶʳ˓˽͞ͻ͌ᩆᜨลᬠɹ ࡸᤋɹɲࠒˁ⏋ɗɄɫᑵʱঃɁʰʶʳჿᠶɭࡸᤋɹᐳᬠѥɴמՕઝɌɲȵʰȭʳɛ ʠɹՕഓങᏼʛˁரᣱɐʳ⏏ɗɌɩ⏋ɴೣዣɫரᣱɇʶɛՕഓങᏼʛȵ⏋˓˽͞ͻ͌ᐁཕ 1) ȋ˓˽͞ͻ͌γᅠȍɭȦȩˁᅎȦʳɄɭɴɦȦɩɻ⏋ɗɹܩݖෙਥɹഡዷਸˁፆȼಮȦɛᒽᅒɹᠶᓒᒽ ᅒ 2005Гᭇ⏋ȼɹᡴᠶȵɲɇʶɩȦʳ⏏ೣዣɫɻᒽᅒ 2005ʍɹਝፐɭɌɩೆȴʶɛ֓ᚹɹᠶᓒ֓ᚹ 2005ɴȲȿʳȋ˓˽͞ͻ͌γᅠȍɭȦȩˁᅎȦʳɄɭɴʭɤɩჼБయ౩ଫՠɹଝຍʍɭ˓˽͞ͻ͌ᐁཕᠶᓔȵ ֪ลɧȿʰʶɩȦʳɭɹᠶ֓ᚹ 2005: 34ˁᤑʚȭ⏋ɗʶˁઝᡫɌɛ০ɫȋ˓˽͞ͻ͌γᅠȍɹˁГάɫᅎȦ ʳ⏏ԍкᇕɲȋ˓˽͞ͻ͌γᅠȍɹɦȦɩɹࡴᒶɻ⏋ɗɹܩݖɹзɹధȵ͌˽͌͠ɫȡʳʭȩɲݭɹᮃغɫ ȡʱ⏋ዷᬚᇕɲܩݖˁᣳȭʳ০ɫᐄɽʶɩȦʳ͍̊ܩݖᇕɲʢɹɫȡʳɭɌɩȲȼࢸ 1999⏏ድɭȦȩঃȦయᔭɹμɫɰɹʭȩɲ֟ਸˁ୫ɠȩʳȴɴɦȦɩᎎɴද២ɐʳ⏏
1̝Ҕҩә̴Ӑࣜᄧњѡ݁н
˓˽͞ͻ͌ᩆᜨˁࢪᢒɴɌɛਃഀɹድɫɻ⏋႕ɴድȵΫɫȡʳೣɴȲȦɩ⏋ᅎɴ ࢪɌɩՕഓΫɹ౩ተɲࡴᒶȵɲɇʶɑ⏋˓˽͞ͻ͌ᩆᜨɹᅵɲʳɇʚɊʚɲͤ̾͡ɴȲȦɩؾ ΥɹȵᅎȦʰʶʳɄɭȵɌɽɌɽȡɤɛ⏏Гάɫɻ⏋˓˽͞ͻ͌ɹჿਥɴʢɭɧȦɩࡸᤋɇ ʶɩȦʳᩆᜨ˹˽̘͌ԃкˁ୭ɐʭȩɲჿਥᇕɲͤ̾͡ɭ⏋ɗɹʭȩɲᩆᜨ˹˽̘͌ɴʢɭɧ Ȧɛᩆᜨɹࡸᤋςкɫȡʳᩆᜨลᬠˁ୭ɐʭȩɲࡸᤋᇕɲͤ̾͡ɭˁ౩ተɴךաɌɛȩȭɫ⏋ ᗔʦˏ̲͞ˏɫɹᅎёˁؒ၇Ɍɲȵʰ⏋ɗʶəʶɹͤ̾͡ɴȲȦɩ᠍য়ɐʳࢪᢒɴࢪɌɩ ᅎȦʳʏȷˁተࡴɐʳсˁȩ⏏ 1.1̙Ҕҩә̴Ӑࣜᄧ ˓˽͞ͻ͌ᩆᜨɹჿਥᇕɲͤ̾͡ɴɦȦɩɻ⏋ೣɫɻ⏋ȋ˓˽͞ͻ͌⏃˓˽͌͞⏆᪃ȍ ʦȋံգࡎ᪃ȍɭȦȩˁᅎȦʳɄɭȵȴɤɛ⏏2) ʚɛ⏋ᗔɴȲȦɩʢ “Islamic Banking(System),” “Interest Free Banking (System)” ɹȵ⏋႕ɴ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹ֤ᖂೝɴᅎ
ȦʰʶʳɄɭȵȴɤɛ⏏3) ɄɹɄɭɻ๖ɹʭȩɴᓒȭʳɄɭȵɫȷʭȩ⏏“Islamic Banking
(System)” ɴɦȦɩɻ⏋ᦚɹᩄᇕୟ߂ೝɹჼБ˓˽͞ͻ͌ᩆᜨɹȼȵ⏋؝ѵ֭ɭήѵ ֭ȴʰɲʳᦏБᇕɲ᪃֭ˁБ್ɐʳʢɹˁμਕɭɌɩᇎݭɌɩȷɩȲʱ⏋˓˽͞ͻ͌ᇕɴ ᪃֭ˁБ್ɐʳɭȦȩઝܒɭ⏋ᬠਕࢪᢒɹ߂ᨆՕȵɗɹʭȩɲ˓˽͞ͻ͌ᇕɲ᪃ɴᮃμ ɌɛɄɭȴʰ⏋ɄɹȵᅎȦʰʶɛɹɞɭᓒȭʰʶʳ⏏Υ⏋“Interest Free Banking (System)” ɴɦȦɩɻ⏋˓˽͞ͻ͌ᩆᜨɹᦲ।ɹᩆᜨɭປʏɩʢᅵɲʳဣȵ⏋գࡎˁʰɲȦɭȦȩဣ ɫȡʳɄɭȴʰ⏋ɄɹेᅵˁմᯆɴେɌՏɗȩɭɐʳɭȷɴ⏋ɄɹȵᅎȦʰʶɛɹɞɭᓒȭ ʰʶʭȩ⏏ؾɹჿᅓȴʰɌɩ⏋ೣɴȲȿʳȋ˓˽͞ͻ͌⏃˓˽͌͞⏆᪃ȍʦȋံգࡎ᪃ ȍɹɹьᅎʢᠦ౩ɫȷʳ⏏ʚɛ⏋ˏ̲͞ˏɴȲȦɩʢ⏋“Islamic Banking (System)” ɴ ሂয়ɐʳ “Bank Islāmī” ʦ “Maàrif Islāmī (Ni.zām Maàrifī Islāmī)” ɹʭȩɲᝠჼʦ⏋“Interest Free Banking (System)” ɴሂয়ɐʳ “Bank Lāribawī,” “Ni.zām Maàrifī Islāmī Khālin min Fā’idah” ɹʭ
ȩɲᝠჼȵឿʰʶʳ⏏4)
2) ɛɭȭɽ⏋ೣɴȲȿʳృɹ˓˽͞ͻ͌ድɹଁഗȵՀᑘɇʶɩȦʳȏ࣬˓˽͞ͻ͌ԎȑȲʭʃȏృ˓˽ ͌͞ϟԎȑɫɻ⏋ɗʶəʶȋ˓˽͞ͻ͌᪃ȍནອ 2002: 133⏋ȋ˓˽͌͞᪃ȍ֓ᚹ 2002a: 99ɹᅎˁʢɤ ɩ⏋ፀ 1 ɹͤ̾͡ɴሂয়ɐʳԒࢅȵៗᠦɇʶɩȦʳ⏏ʚɛ⏋̩͌Ͳ͇̝̫ͻ˥̒͡⏮˵̝͡ɹᘿೆɹ᧷៱̊˓ ̜͡ɻ⏋ȋံգࡎ᪃ᠶȍɫȡʳ˵̝͡ 1994⏏
3) ɛɭȭɽ⏋The Oxford Encyclopedia of the Modern Islamic World ɫɻ⏋“Banks and Banking” ɹɴȲȦɩ⏋ፀ 1 ɹͤ̾͡ɴሂয়ɐʳԒࢅȵៗᠦɇʶɩȦʳ [Wilson 1995]⏏ʚɛ⏋“Interest Free Banking (System)” ɻ⏋ჼБ˓˽ ͞ͻ͌ᩆᜨɹෙᠦˁȩݭغɴᅎȦʰʶʳ⏏ɛɭȭɽ⏋[Uzair 1978; Akhtar 1988; Ahmad 1991] ɹᘿೆؿˁؒ၇⏏ 4) ɛɭȭɽ⏋մᓔɹ “Bank Lāribawī” ɻ⏋[ .Sadr 1977] ɹᘿೆؿɴ⏋ᓔɹ “Ni.zām Maàrifī Islāmī Khālin min Fā’idah”
ɌȴɌ⏋ᦏॷɫɻ⏋ԃᖔᇕɴ⏋ᗔɴȲȦɩɻ⏋“Islamic Banking and Finance” ʦ “Islamic
Finance” ɹȵᅎȦʰʶ⏋ˏ̲͞ˏɴȲȦɩɻ⏋“Maàrif wa Māl Islāmī” ɹȵឿʰʶʳ⏏5)
ɄɹɄɭɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨȵঃȼࣙᬖɇʶɩȦȼɲȴɫ⏋য়՟ɹ᪃֭ɹБ್ɴɭɰ ʚʰɑ⏋ࣦɴʼɛʳᩆᜨ֭ˁȩʭȩɴɲɤɛɄɭɫ⏋ɴ “Islamic Banking” ɹɫɻ ԃкˁᠦ౩ɫȷɲȼɲɤɛɄɭˁኍɌɩȦʳɹɞɭᓒȭʰʶʳ⏏ʢɤɭʢ⏋ೣɴȲȦɩ ɻ⏋Ȧʚɞɴȋ˓˽͞ͻ͌⏃˓˽͌͞⏆᪃ȍʦȋံգࡎ᪃⏃ᩆᜨ⏆ȍȵ⏋ԃкˁ୭ɐɭ ɌɩᅎȦʰʶʳɄɭȵȼ⏋ɄɹɄɭȴʰʢೣɴȲȿʳ˓˽͞ͻ͌ᩆᜨድȵࡸᤋɹࣙᬖɴ ᦠȦɦȦɩȦɲȦɄɭˁᮮ٘ɌɩȦʳɭៜȭʭȩ⏏ ГΫˁᤑʚȭɩ⏋ೣዣɫɻ⏋˓˽͞ͻ͌ɹჿਥɴʢɭɧȦɛᩆᜨ˹˽̘͌ԃкˁȋ˓˽͞ͻ ͌ᩆᜨȍɹˁᅎȦʳɄɭɫᐏΥɌɛȦ⏏ɗɌɩ⏋ᦏБГմɹ˓˽͞ͻ͌γᅠɴȲȦɩرᇕ ɴࡸᤋɇʶɩȷɛ˓˽͞ͻ͌ᩆᜨɴɦȦɩɻ⏋ȋرᇕȍɹˁԢɌɩȋرᇕ˓˽͞ͻ͌ᩆ ᜨȍɭɌ⏋ೣዣɹμਕᨆՕˁװʠʳჼБɴȲȿʳ˓˽͞ͻ͌ᩆᜨɴɦȦɩɻ⏋ȋჼБȍɹˁ ԢɌɩȋჼБ˓˽͞ͻ͌ᩆᜨȍɭɐʳ⏏ 1.2̙Ҕҩә̴Ӑࣜᄧ࠽ࠖњବဧޕ ๖ɴ⏋ࡸᤋᇕɲͤ̾͡ɴɦȦɩɻ⏋ࡸᤋςкɭɌɩɹᩆᜨลᬠˁ୭ɐɭɌɩ⏋ਃഀɫɻς ɴ⏋ೣɫɻȋ˓˽͞ͻ͌᪃ȍ⏋ᗔɫɻ “Islamic Bank,” ˏ̲͞ˏɫɻ⏋“Bank Islāmī” ʦ “Maàrif Islāmī” ɹȵᅎȦʰʶɩȷɛ⏏ɌȴɌ⏋ɐɫɴᦚʏɛʭȩɴჼБ˓˽͞ͻ͌ᩆᜨ ɹࡸᤋɻࣦɴʼɛʳɛʠ⏋ГΫɹʭȩɲɫᩆᜨลᬠɹ̫͠˛ͻ˹͚ͲɹɐʏɩˁኍɐɄ ɭɻᯃ।ɴᮑɌȼɲɤɩȦʳ⏏ɗɹɛʠ⏋ᦏॷɻ⏋ᗔɫɻ⏋ࡸᤋςкɹᐵዌɭɌɩ “Islamic Financial Institutions,” ȡʳȦɻ “Islamic Banks and Financial Institutions” ˁᅎȦ⏋ˏ̲͞ˏ
ɫɻ⏋“Bunūk wa Mu’assasāt Mālīyah Islāmīyah” ˁᅎȦʳɄɭȵȼɲɤɩȦʳ⏏6) ೣɫ
ɻ⏋Ȧʚɞɴȋ˓˽͞ͻ͌᪃ȍɹˁᅎȦʳɄɭȵȦȵ⏋ჼႥɴɌɩ⏋ೣዣɫɻ⏋ࡸ ᤋςкɹᐵዌˁȋ˓˽͞ͻ͌ᩆᜨลᬠȍɹɫᝠɐɄɭɴɐʳ⏏ʚɛ⏋ᩆᜨลᬠɹዛᰖʦᩆ ᜨลᬠᕶʰȵᅎȦɩȦʳ٧ዌɴਃɤɩ⏋ȋ˓˽͞ͻ͌᪃ȍȋ˓˽͞ͻ͌ହᣂЦȍȋ˓˽͞ͻ ͌ହᣂ̶ˎͲ̝ȍȋ˓˽͞ͻ͌ѳ᭝ЦȍɹˁɗʶəʶᅎȦʳ⏏ɄɹဣɴɦȦɩʢ⏋ᗔ ɴ Ȳ ȿ ʳ “Islamic Bank,” “Islamic Investment Company,” “Islamic Investment Fund,” “Islamic Insurance Company” ɹᅎȦɴɗʶəʶȩɄɭɴɐʳ⏏ɲȲ⏋ˏ̲͞ˏɫɻѳ᭝ɹɄɭ ˁ “Takāful” ɭ٧ʉɛʠ⏋ȋ˓˽͞ͻ͌ѳ᭝Цȍɻ⏋ᗔɫ “Takaful Company” ɭ٧ʉɄɭ
5) ᗔɹёɭɌɩ⏋[Usmani 2000; Iqbal and Llewellyn 2002] ɹᘿೆؿ⏋ˏ̲͞ˏɹёɭɌɩ⏋˓˽͞ͻ͌ᩆᜨ ʦ˓˽͞ͻ͌ᐁཕɴᬠɐʳድȵʚɭʠʰʶɛ˹͠ͻ̀ɹأೆؿɻ⏋Silsilah al-Dirāsāt al-Maàrafīyah wa al-Mālīyah al-Islāmīyah ɫȡʳ [Al-Bi‘lī 2002a; 2002b] ˁؒ၇⏏
6) “Bunūk wa Mu’assasāt Mālīyah Islāmīyah” ȵᅎȦʰʶɩȦʳёɭɌɩɻ⏋2001 ॷɴ̫̩ͤͻͲˁೣᨆɭɌɩጓɇ ʶɛ˓˽͞ͻ͌ᩆᜨลᬠΥᖔᡴЦ (General Council for Islamic Banks and Financial Institutions, GCIBFI) ɹˏ͞ ̲ˏᝠ៨ “al-Majlis al-‘Āmm al-Bunūk wa al-Mu’assasāt al-Mālīyah al-Islāmīyah” ȵ୲Ɂʰʶʳ⏏
ʢȡʳȵ⏋ೣዣɫɻ⏋ȋ˓˽͞ͻ͌ѳ᭝ЦȍɹɫᐏΥɐʳɄɭɴɐʳ⏏
ɗɌɩ⏋˓˽͞ͻ͌ᩆᜨลᬠɴࢪປɇʶʳᦲ।ɹᩆᜨลᬠɹɄɭˁ⏋ೣዣɫɻ⏋ѤࡶΫ⏋ ȋಔᦲᩆᜨลᬠȍɭ٧ʉɄɭɴɐʳ⏏ჼБ˓˽͞ͻ͌ᩆᜨˁȩᩆᜨลᬠɴɻ⏋˓˽͞ͻ͌ᩆ
ᜨɹଝˁᅎȦɩȩႶጓɌɛ˓˽͞ͻ͌ᩆᜨลᬠɞȿɫɲȼ⏋ಔᦲᩆᜨลᬠʢ⏋НԒɴ˓ ˽͞ͻ͌ᩆᜨɹଝˁᅎȦʳᨆᬐˁȿɩȦʳɭɄʸȵȡʳ⏏ɗɹʭȩɲᨆՕᇕɲ˓˽͞ͻ͌ ᩆᜨɹࡸᤋȵɲɇʶɩȦʳᨆᬐˁ⏋ᗔɫɻ “Islamic Banking Window” ɭ٧˃ɫȦʳ⏏Ʉʶ ɴɲʰɤɩೣዣɫɻ⏋ɄɹʭȩɲᨆᬐɴࢪɌɩȋ˓˽͞ͻ͌ᩆᜨᨆᬐȍɹˁᅎȦ⏋˓˽͞ͻ ͌ᩆᜨᨆᬐˁɐʳᩆᜨลᬠˁ⏋ȋᨆՕᇕ˓˽͞ͻ͌ᩆᜨลᬠȍ⏋ɗɹʭȩɲᨆՕᇕ˓˽͞ͻ͌ ᩆᜨลᬠɹ˓˽͞ͻ͌ᩆᜨɹࡸᤋˁȋᨆՕᇕ˓˽͞ͻ͌ᩆᜨȍɭ٧ʉɄɭɴɐʳ⏏ ГΫɫᦚʏɩȷɛ˓˽͞ͻ͌ᩆᜨลᬠɭɻ⏋ܕࢃʦܩݖȴʰНкɭɌɩɹჼБ˓˽͞ͻ͌ ᩆᜨɹࡸᤋɫȡʳɭ᠗ʠʰʶɩȦʳʢɹɫȡʳ⏏ɌȴɌ⏋ድɹѫΫɴɹʖʳɄɭɻࢹɲȦʢ ɹɹ⏋˓˽͞ͻ͌ᩆᜨลᬠˁЂɇɲȦʭȩɲ˓Ͳ̶˝ͻ͇́͡˪̊ͻɴȲȿʳ˓˽͞ͻ͌ᩆ ᜨɹࡸᤋʢࡔܧɐʳ⏏7) ɗɹʭȩɲࡸᤋɻ⏋ೣዣɹሁஞɹᓒ࢘ࢪᢒɫɻɲȦȵ⏋ᅎȦʳɄɭȵ ȡʳݭغɴɻȋ˓Ͳ̶˝ͻ͇͡˓˽͞ͻ͌ᩆᜨȍɹɫ٧ʉɄɭɴɐʳ⏏ʚɛ⏋˓Ͳ̶˝ͻ ͇͡˓˽͞ͻ͌ᩆᜨɭɹࢪປˁ᳞౩ɴɐʳݭغɴɻ⏋˓˽͞ͻ͌ᩆᜨลᬠɹࡸᤋˁȋНᇕ ˓˽͞ͻ͌ᩆᜨȍɭ٧ʉɄɭɴɐʳȵ⏋Гάɹ៨ᦚɫ⏋ჼБ˓˽͞ͻ͌ᩆᜨɭ٧ʉ᭬ɹᬠਕࢪ ᢒɻ⏋႕ɴుʱɹɲȦᭉʱ⏋Нᇕ˓˽͞ͻ͌ᩆᜨɴᐈʰʶʳɄɭˁਥᰄɴᒞȴʶɛȦ⏏
2̝ॳേҔҩә̴ӐࣜᄧѠᆼછฦิދ
ɄɄɫɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹȲȲʚȴɲرˁ୷ʱᦐʳ⏏ɗɹ᭬⏋ೣዣɫɻ⏋߂ȷȼᶈ ౩ೝ⏋ᩄᇕୟ߂ೝ⏋ཌྷϕೝ⏋ᣒᇕୟ߂ೝɹ 4 ɦɹಁೝɴךՕɫȷʳɭᓒȭ⏋Гάɫɻಁೝך ՕɅɭɹ႕ਐˁ౩ʰȴɴɌɲȵʰ˓˽͞ͻ͌ᩆᜨɹჼБرˁѺሮɐʳ⏏8) 2.1̙ἵ࠺͂1970 േڐ̓ Υᖔɴ⏋ჼБ˓˽͞ͻ͌ᩆᜨɻ 1970 ॷБɴᇵ˃ɴɲɤɛɭȦʼʶʳ⏏9) ɌȴɌ⏋1970 ॷБ Гմɴʢ⏋ɹɠɹჼБ˓˽͞ͻ͌ᩆᜨɹ݀ɭɲʱ⏋ɗɹທкɭɲʳʭȩɲᏼᑩըȵឿʰ 7) ɛɭȭɽ⏋˹͠ˏɹˏͤ̒ͅɹإȼȴʰȡʳμࢸНʦڧঊɹμɴɻ⏋˓˽͞ͻ͌ᩆᜨลᬠˁЂɇɲȦ˓Ͳ̶˝ͻ ͇͡ɲ০ɫ˓˽͞ͻ͌ᇕɲᣂᩆᠭ᧒ˁɤɩȦʳɭɄʸȵឿ؝ȿʰʶʳᶌᅒ 1995: 133-136⏏ 8) ೣዣɴȲȿʳɄɹךՕɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨȵ՟ɴμਕᇕɲࣙᬖˁʛɓɛμആܩݖɴɌɛʢɹɫȡʳ⏏Ј ɹܩݖȴʰʛɛݭغɻ⏋ךՕɹಁೝȵᅵɲʳɄɭʢᓒȭʰʶʳ⏏ЁɹࡸᠭീˁȩɄɭɫ⏋˓˽͞ͻ͌γᅠ ԃݖɴʼɛʳ˓˽͞ͻ͌ᩆᜨɹჼБرɹ៨ᦚˁخᔨɴɌɛȦ⏏ 9) ɲȲ⏋˓Ͳ̶˝ͻ͇͡˓˽͞ͻ͌ᩆᜨɴɦȦɩȦȭɽ⏋1950 ॷБץɹ̮˥˽̊ͲɹᦅɴȲȦɩ⏋ၖਕɲ ͌˽͌͠ܩςȵᦅఒᖪᣂᩆˁՏɐʳɛʠɹံգࡎᩆᜨˁጓɠΫɁɛɭȦɤɛϟёʢተ᠗ɫȷʳቄᅒ 1987: 11⏏Ȳɗʰȼ⏋Ʉɹʭȩɲϟёɻ⏋Ᏻȴȼᠭʏʶɽ˓˽͞ͻ͌γᅠɹᕸʳଘɫተ᠗ɫȷʳȴʢɌʶɲȦ⏏ɌȴɌ⏋ ჼႥɫɻ⏋Ʉɹʭȩɲ˓Ͳ̶˝ͻ͇͡˓˽͞ͻ͌ᩆᜨȵ⏋ɰɄɴɰʶɞȿȡɤɛȴɭȦȩкᏙᇕɲவɻɲɇ ʶɩȦɲȦ⏏ʶɛ⏏1970 ॷБГմɴȲȦɩ⏋ɴᐚȼჼБ˓˽͞ͻ͌ᩆᜨɭɹᬠᦹɫᇿɐʳʏȷܕɻ⏋ ˛˻̺̜ɭ͇ͤͻ˹ˏɫȡʳ⏏
˛˻̺̜ɫɻ⏋1963 ॷɴˏ̶͇̝˛͡⏮̠̒ˤͻ͡ȵ̠˓͡ाɹ̊̚͡ܩय़ɫ͊ͻ̜ ˤ͌͡ᢱᙢ᪃ (Bank Mīt Ghamr li-l-Tawfīr) ˁጓɌɛ⏏Υᖔɴ⏋ɄʶȵჼБ˓˽͞ͻ͌ᩆᜨ ɹ̮˓ˠ̢ˏᇕࡔܧɭᓒȭʰʶɩȦʳ⏏ɌȴɌ⏋Ʉɹ᪃ɻ⏋̝˓̓ɹᦅᩆᜨɹিˁ͐ ̚͡ɭɌɛɭɇʶ⏋ʚɛ⏋գࡎɹˁ᠗ʠʳᩆᜨিʢΥᨆɫᅎɌɩȦɛ [Soliman 2004: 267-268]⏏ɗɹɛʠ⏋Ʉɹ᪃ȵɰʶɞȿ˓˽͞ͻ͌ᇕɫȡɤɛȴɻද២ˁឹɐʳ⏏ɛɞ⏋Ʉ ɹ᪃ɻ⏋1972 ॷɴ⏋য়ಁɹ߂ᐏ᯿ɫȡɤɛ˵ͻ̋ͻ̜ȵܕঐᣂᩆɹՏˁໆࡴɌ⏋ɇʰɴ⏋ ˓˽͞ͻ͌ᇕɲᩆᜨˁȩౚɹ႕աˁըࡴɌɛȩȭɫ⏋˛˻̺̜ܕԒɫԇᇕɴ᠗ʠʰʶɛ ՟ɹ˓˽͞ͻ͌ᩆᜨลᬠɭɌɩɹ̠ͻ˽ˑ͡Ц᪃ (Bank al-Nāßir al-Ijtimā‘ī) ʍɭᇍࣙᇕɲ ៗ༥ˁɌɛɭȦȩဣɫɻ⏋˛˻̺̜ɴȲȿʳჼБ˓˽͞ͻ͌ᩆᜨɹ݀ɫȡʳɭɻៜȭɲȦʚ
ɫʢ⏋྇༑ɹ 1 ɦɫȡʳɄɭɻᬚ᧓ȦɲȦ⏏10)
Υ⏋͇ͤͻ˹ˏɫɻ⏋1963 ॷɴ͇̒ˡीɹɛʠɹᣂᩆˁᮃʠɛ͇͓͌͞˽͌͠ी ᢱᩆԇ (Malayan Muslim Pilgrims Savings Corporation, MMPSC) ȵጓɇʶɛ⏏Ʉɹԇ ɻ⏋1969 ॷɴीዩጓᅎݜᩆ (Lembaga Urusan dan Tabung Haji, LUTH) ɴᇍࣙɌɛᴚ ࣎ 2003: 91⏏ɗɌɩ⏋1983 ॷɴɻ⏋͇ͤͻ˹ˏܕԒ՟ɹНᇕ˓˽͞ͻ͌ᩆᜨɭɌɩ͇ͤͻ ˹ˏ˓˽͞ͻ͌᪃ȵጓɇʶɛ⏏Ʉɹ͇ͤͻ˹ˏ˓˽͞ͻ͌᪃ɴȲȿʳՏᣂւغɹ 12.5⎾ȵ LUTH ɫȡʳɄɭȴʰɌɩʢ⏋MMPSC ȵ͇ͤͻ˹ˏɴȲȿʳჼБ˓˽͞ͻ͌ᩆᜨ ɹՏᇍဣɭᓒȭʳɄɭȵɫȷʭȩ [Ariff 1988: 49]⏏ 2.2̙ᆖฦި࠺͂1970 േ̹1980 േཔ̓ 1970 ॷБɴԂʳɭ⏋μആܩݖˁμਕɴ˓˽͞ͻ͌ᩆᜨลᬠɹጓɹ֪ȷȵ֓ᦵɐʳ⏏Бᝠ ᇕɲʢɹˁ୲Ɂʳɭ⏋1975 ॷɴˏ̸͞᱔ᬏܕᦹ᧷ɫ̝̫˓˓˽͞ͻ͌᪃⏋1977 ॷɴ˛˻ ̶̺̜ˎ˓˵͡˓˽͞ͻ͌᪃⏋˪˗˙ͻ̶̜ˎ˓̠Ͳ˽̩˗˽Ȳʭʃ⏋˽ͻ̋Ͳ ̶ˎ˓˵͡˓˽͞ͻ͌᪃⏋1979 ॷɴ̋͜͡Ͳ˓˽͞ͻ͌᪃⏋̫̩ͤͻͲ˓˽͞ͻ ͌᪃⏋1983 ॷɴ͇ͤͻ˹ˏ˓˽͞ͻ͌᪃⏋1985 ॷɴ̜͡˱ɫ̶ˎ˓˵̶͡ˎ˓̠Ͳ ˽ɭˏ͡⏮̫͞ˡ̜͡˱̶ˎ˓̠Ͳ˽̩˗˽ȵጓɇʶɛ⏏Ʉɹʭȩɲሂ๖Ƚ˓˽͞ͻ ͌ᩆᜨลᬠɹጓɻ⏋కᐁཕᇕɲ៎ဣȴʰɐʳɭ 2 ɦɹឹ܍ȵ߂ȷȼӈȦɛɄɭɴʭʳɭ ᓒȭʰʶʳ⏏ ፀ 1 ɴ⏋1960 ॷБʚɫɹˏ̸͞Цςᒶʦˏ̸͞ςᒶɴБʼɤɩ 1970 ॷБɴدᰄɌ ɩȷɛ˓˽͞ͻ͌ᖂ֪ɫȡʳ⏏˓˽͞ͻ͌ᖂ֪ɭɻ⏋մᦏБɹ˓˽͞ͻ͌γᅠɹࡸᤋ 10) ɌȴɌɲȵʰ⏋Ʉɹ̠ͻ˽ˑ͡Ц᪃ˁ᠗خɐʳ႕աɴȲȦɩʢЦςᒶᇕɲ˻͑ͻ˳ͲȵᇵʱᦉʚʶɩȲ ʱ⏋գࡎˁਗ᧫ɐʳүᯆɹȡʳЦςᒶ⏃႕ɴɄɄɫɻˏ̸͞Цςᒶ⏆ɭɹ៊ٮਸˁጋȩɄɭȵɫȷʳɭɹ୭ ȵȡʳ [Soliman 2004: 269]⏏
ʍɭɴ܌ॠɐʳʭȩɲ֪ɫɻɲȼ⏋ɗʶˁଫՠوࡴᣳӷɌɲȵʰ⏋ៜᓔ̩͌Ͳ͇̝ ಁБɴተጓɇʶɛ˓˽͞ͻ͌ɹհɴጓᔰɌ⏋ȴɦჼБγᅠɴ᧟غɐʳʭȩɲ০ɫ˓˽͞ͻ͌ య౩ˁԗ෯፷ɐʳɄɭˁʠɊɐ֪ɫȡʳࢸ 2001: 34⏏ࢸȵ୭ɌɩȦʳʭȩɴ⏋ ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɭɻ⏋˓˽͞ͻ͌ɹհɴጓᔰɌ⏋մᦏБɹ˓˽͞ͻ͌γᅠɴɻ ɲȴɤɛᩆᜨลᬠ⏃᪃⏆ɹਖឹɭȦȩჼБᇕɲឹᠱɴ᧟غɐʳʭȩɲ০ɫ˓˽͞ͻ͌ˁԗ ෯፷ɌɩᩆᜨลᬠɹลᔨˁృɛɴсʱՏɐɭȦȩᐁཕᯆɴȲȿʳ˓˽͞ͻ͌ᖂ֪ɹۊဤɫ ȡʳɭȦȭʳࢸ 2001: 34⏏11) Υɫ⏋కঌςࢷɴʭʳ˓˽͞ͻ͌ᩆᜨลᬠɹጓʢሂ๖ ȹ⏋ɗɹΥёȵ͇ͤͻ˹ˏ˓˽͞ͻ͌᪃ɫȡʳᴚ࣎ 2003: 92-94⏏ʚɛ⏋̜͡˱ɫʢ⏋ 1980 ॷБմץɴ⏋য়ಁɹ᱔ሂɫȡɤɛˠ˸͡ȵ˓˽͞ͻ͌ᩆᜨลᬠɹጓɴዩෑᇕɲ৲ւˁ ഗɛɌɛ [Baskan 2004: 225]⏏ ፀ 2 ɴ⏋ፀ 4 ๖μആϝɴЫȩቄໞѝൔɹᲞ᱿ɴʭɤɩ⏋ᅋໞܕˁμਕɭɌɛμആܩݖɴ ॅᰎɹˠ˓͇̦͡ͻȵ༑ԂɌɛɄɭɫȡʳ⏏႕ɴ⏋߂ɹᅋໞܕɫȡʳ˵˗˻ˏ̲͞ˏɭɦɲ ȵʱɹཉȦНʦϺ႒ȵ˓˽͞ͻ͌ᩆᜨลᬠɹጓɴ߂ȷɲ৲ւˁഗɛɌɛ⏏1981 ॷɴጓ ɇʶɛ˓˽͞ͻ͌ᩆᜨลᬠ˫͡ͻ̺ɫȡʳ DMI (Dār al-Māl al-Islāmī) ˫͡ͻ̺ɹጓᇍᣱϺɴ
ɻ⏋˓˽͞ͻ͌ᡉܕɹӯ᱔Ꮹɹʓȴɴ⏋˵˗˻ˏ̲͞ˏɹტȵؿմˁᦹɷɩȦʳ⏏12) ɄɹɄ ɭɻ⏋˵˗˻ˏ̲͞ˏȵ⏋࿅໘ɲˠ˓͇̦͡ͻˁ˓˽͞ͻ͌ᩆᜨลᬠɹጓɴգᅎɌ⏋ᕶʰʢ ɗɄȴʰգᇰˁΫɁʳɭؾಁɴ⏋˓˽͞ͻ͌ᖂ֪ɹᐁཕᯆɴȲȿʳࡸᤋˁᣂᩆᯆɫఌஹɐ ʳɄɭˁઝܒɌɩȦʳɭᓒȭʰʶʳ⏏DMI ˫͡ͻ̺ɻ⏋2004 ॷɹಁဣɫ⏋7 Ͷܕɴ᪃ʦହ ᣂЦɲɰˁيʞ 11 ⏃ೣᨆɹ̫̩͇ˁيʞ⏆ȴʰ෯ଁɇʶɩȦʳ⏏13) Јɫ⏋ؾɍȼ 1982 ॷɴጓɇʶɛ˵˗˻ˏ̲͞ˏɹ̋̒͞ˏ͡⏮̫͞ˡ˫͡ͻ̺ɹᩆᜨᨆᬐɫȡʳˏ͡⏮ ̫͞ˡହᣂᬖᇍЦɻ⏋29 Ͷܕɴ 43 ɹ᪃⏋ᩆᜨହᣂЦˁᐏୠɌɩȦʳ [Khan 2003: 2]⏏14) 1970 ॷБɴɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁ׃ୠɐʳܕ᭬ᇕɲ̦̜̒ͩͻ˪ʢсʰʶɛ⏏1975 ॷ ɴɻ⏋˓˽͞ͻ͌ᡉܕᬚɹᐁཕൔेɹ౸ʦᐁཕЦᬖᇍˁఌஹɐʳɛʠɴ˵˗˻ˏ̲͞ ˏɹ˻˙̒̋ˁೣᨆɴᒞȼ˓˽͞ͻ͌ᬖᇍ᪃ (Islamic Development Bank, IDB) ȵጓɇʶ
11) ɛɭȭɽ⏋˛˻̶̺̜ˎ˓˵͡˓˽͞ͻ͌᪃ɹጓ͍Ͳ̫ͻɴɻ⏋˓˽͞ͻ͌ᖂ֪ɹΥᓏˁɤɛ͌ ˽͌͠ؾᔟɹȼɹڊȵԂɤɛ [Soliman 2004: 273]⏏ɲȲ⏋ؾ᪃ɭ͌˽͌͠ؾᔟɹɗɹɻ⏋1985 ॷɴ ˛˻̺̜కঌɹܦɴʭɤɩؾᔟڊɻᦠఔɇʶ⏋θᓔɹᬠѥɻԳȭᦉʞ⏏ʚɛ⏋̋͜͡Ͳ˓˽͞ͻ͌᪃ɴ ɦȦɩʢؾɹϟёɹ୭ȵȡʳ [Malley 2004: 191-196]⏏ 12) ɛɭȭɽ⏋ᇍᣱϺɹ 1 Ϻɫȡʳ̩͌Ͳ͇̝ˏ͡⏮̶ˎ˓˵͡ˏͻ͡˵˗ͻ̝ɻ⏋ፀ 3 Б˵˗˻ˏ̲͞ˏܕ ტ̶ˎ˓˵͡ɹࡎਖ਼ɹ 1 Ϻɫȡʱ⏋DMI ɹᐿ৲Цᬏˁ֭ʠɩȦʳቄᅒ 1988: 112⏏ 13) DMI ˫͡ͻ̺ɹᐏୠЦɫȡʳ DMI ̜͞˽̜ɹॷ๖ͤͅͻ̜ˁؒ၇⏏ 14) ɲȲ⏋Ʉɹ̋̒͞ˏ͡⏮̫͞ˡ˫͡ͻ̺ɻ⏋1969 ॷɴ⏋˵ͻ̶͠ˏ̸̝˕̒͞ͻˡͻ͊͡ɴʭɤɩጓ ɇʶɛ˫͡ͻ̺ɫ⏋300 ГΫɹНȴʰଁʳॅ߂ភغНɫȡʱ⏋1997 ॷɹ˫͡ͻ̺ԃкɹᐵᣂᅋɻ⏋70 ӜᎦ ̝͡ɫȡʱ⏋ହᣂᰎɻ 9 ӜᎦ̝͡ɴɹʖʳ [Khan 2003: 2]⏏
ɛ⏏ʚɛ⏋1977 ॷɴɻ⏋ܕ᭬˓˽͞ͻ͌᪃תЦ (International Association of Islamic Banks, IAIB) ȵؾɍȼ˻˙̒̋ˁೣᨆɴɌɩጓɇʶ⏋˓˽͞ͻ͌᪃ᬚɹሂϣתʦ⏋ϟ༎֪ɹ ˹͑͠ͻˏɭɹ᧟غਸɹᇺീ⏋˓˽͞ͻ͌᪃ɹጓఌஹ⏋ਃڊɹ៥ᑇ⏋˓˽͞ͻ͌ᩆᜨɴ ɦȦɩɹᠭീᬖᇍڪᇍ༎֪ȵʼʶɩȦʳࣩᩃԒ 2002: 367⏏ ʚɛ⏋̮˥˽̊Ͳɭ˓͞Ͳɫɻ⏋కкըɹ˓˽͞ͻ͌ɴЫȩᐁཕըɹ˓˽͞ͻ͌ ɹμɫ⏋Υܕԃݖɴʼɛʳ˓˽͞ͻ͌ᩆᜨ˹˽̘͌ɹࢷԂȵᦽʠʰʶɩȦɤɛ⏏̮˥˽̊Ͳɫ ɻ⏋1977 ॷɴ̩˪ɴʭʳ˪ͻ̊̚ɫɹకณɹკˁߕลɴɌɩ⏋˓͞Ͳɫɻ⏋1979 ॷɹ˓˽ ͞ͻ͌ᯊ٨ɴʭɤɩ⏋ᐁཕըɹ˓˽͞ͻ͌ȵࠃʚɤɛ⏏̮˥˽̊Ͳɫɻ⏋1979 ॷɴకঌ ᏙᩆᜨลᬠɹգࡎঘɴБᝠɇʶʳ˓˽͞ͻ͌ȵʼʶ⏋ᐚȦɩڧ᪃ɴʢံգࡎըȵ ࢷԂɇʶɛ⏏1985 ॷɴɻ⏋ᩆᜨըȵံգࡎᩆᜨըʍɭԃውɌɛ⏏ؾɍȼ˓͞Ͳɫʢ⏋ 1984 ॷɴံգࡎᩆᜨըȵࢷԂɇʶɩȦʳᚹ 1988⏏ 2.3̙ਠᅜ࠺͂1980 േছཔ̓ 1980 ॷБմץʚɫɹჼБ˓˽͞ͻ͌ᩆᜨɹଁ֒ɻ⏋ɗʶГᭇɹሂ๖Ƚ˓˽͞ͻ͌ᩆᜨลᬠ ɹጓ̒͞˹͖ˁେɌɌɛ⏏ɗɹʭȩɲႥɹμɫ⏋Гάɹ 3 ɦɹɫȷɅɭɴʭɤɩཌྷϕ ˁȼүᯆʢȡɤɛ⏏15) ፀ 1 ɴ⏋1980 ॷБմץɹ˓˽͞ͻ͌ᩆᜨลᬠɹଁ֒ɴѤώɌɛੲਏɲᩆᜨลᬠɹࡔܧɫȡ ʳ⏏˛˻̺̜ɫሂ๖ȦɫጓɇʶɛΥᦹɹᣂᅋᅎЦᒴ⏃˹͑͠ˡͻ̜̊˗̀ˑͻ̶ˏ ͡⏮ˏ͌ͩͻ͡⏆ɻ⏋˓˽͞ͻ͌ᇕɲᩆᜨিˁᡡɤɛହᣂ༎֪ˁȦ⏋Јɹಔᦲᩆᜨลᬠʭ ʱᲞȦᨗয়ˁʢɛʰɐɄɭˁ߂ǾᇕɴࡺШɌ⏋80⑯120 Ӝ˛˻̺̜ͅͲ̝ʢɹᩆˁᮃʠɛ ɭɇʶʳ⏏16) ࡺШɰȲʱᲞȦᨗয়ˁࡸჼɌɩȦɛಁೝʢȡɤɛȵ⏋ᣂᅋ᭯Ɍɹکᰍʦହลᇕɲ ହᣂɹ߉ఞ⏋కঌɴʭʳៀըɲɰɴʭɤɩ 1988 ॷɴϟࡸΫɗɹȼȵቑᐮɌɩɌʚɤɛ⏏Υ ᦹɹϟИɻ⏋˓˽͞ͻ͌ᇕɲჿਥˁɁʶɽ͌˽͌͠ȴʰᩆˁࢅ౫ɴკɫȷʳɭȦȩᓒȭ ɴѤώɌɛହᣂЦȵ⏋ȼɹଁ֒ˁؚʠɩȦʳ˓˽͞ͻ͌ᩆᜨลᬠʍɹᩆᓔ⏋͌˽͌͠ɹ ߂ȷɲೝ৺ˁȩʚȼգᅎɌɛɭȦȩ෯ܒˁயȼɄɭȵɫȷʳ⏏17) ɄɹϟИГᭇ⏋˓˽͞ͻ͌ᩆ ᜨลᬠʍɹέѵઢȵঃȵʱ⏋˛˻̺̜ɴɦȦɩȦȭɽ⏋˓˽͞ͻ͌ᩆᜨลᬠɹᩆᩄɹЭʃɴ ҪྡྷȵᣱɄɤɛ [Soliman 2004: 276–278]⏏ ፀ 2 ɴ⏋ಔᦲᩆᜨลᬠɴȲȿʳ˓˽͞ͻ͌ᩆᜨᨆᬐɹᒞɫȡʳ⏏˛˻̺̜ˁёɴɭʶɽ⏋ 15) ɄɄɫɻ⏋ಁБɹךՕΫ⏋ཌྷϕೝɹ٧ዌˁᅎȦɛ⏏Ʉɹ٧ዌˁᅎȦʳɄɭɫ˓˽͞ͻ͌γᅠɴȡʳ˓˽͞ͻ͌ᩆ ᜨลᬠɹɐʏɩȵཌྷϕɴ᭒ɤɛɭȦȩᢒˁήȭȴɷɲȦȵ⏋ਖɑɌʢ⏋ɗɹʭȩɲઝ٢ɫᅎȦɛʼȿɫɻɲȦ⏏ ೣዣɫɻ⏋ɗɹʭȩɲ႕ፆɇʶʳȦȼɦȴɹཌྷϕʍᇿɐʳɄɭȵ⏋ɗʶГᭇɹ˓˽͞ͻ͌ᩆᜨɴɭɤɩࡸᤋᯆ ɴȲȦɩʢድᯆɴȲȦɩʢ߂ȷɲᠩᰍɭɲʳʭȩɲ̴̜̒˪ɹୈՏɴ߂ȷȼᇰɌɛɭȦȩጓݭȴʰ⏋Ʉɹ٧ዌ ˁᅎȦɛ⏏ 16) Ʉɹᩆᩄɻ⏋য়ಁɹ˛˻̺̜ɴȲȿʳڧ᪃ʍɹࢃɹᩆᩄɴሂয়ɐʳᅒ 1989: 132-133⏏ 17) ؾɍʭȩɲϟёɻ⏋̋͜͡ͲɴȲȦɩʢተ᠗ɫȷʳ [Malley 2004]⏏
ಔᦲᩆᜨลᬠɫȡɤɛ͊˽͡᪃ȵ 1980 ॷБץɴ⏋˓˽͞ͻ͌ᩆᜨᨆᬐˁᒞɌ⏋մᦚɹ ˓˽͞ͻ͌ହᣂЦɹቑᐮɴʭʳ˓˽͞ͻ͌ᩆᜨลᬠʍɹέѵઢʢЫɤɩਸ਼ᦵɴᩆ˹˙ˏˁ ୟ߂ɌɩȦɤɛ⏏Ʉɹ˹˙ˏୟ߂ɻ⏋ປᥒᇕృᖂɹ˓˽͞ͻ͌ᩆᜨลᬠʭʱʢᬏೝɴʼɛɤɩ ݠܔɲᐁۊˁɤɩȷɛౖࡔɹಔᦲᩆᜨลᬠɹȵ⏋ተࡸɲᨗয়ˁʞɄɭȵɫȷʳɭȦȩᰘ ࡹɹઝᡫɴʭɤɩᠦ౩ȵɫȷʳɭᓒȭʰʶʳ⏏1997 ॷɹಁဣɫǸɄɹ͊˽͡᪃ɴȲȿʳԃ ᩆᰎɹȩɠ 12⎾ȵ˓˽͞ͻ͌ᩆᜨᨆᬐɹᩆɫȡʳ [Soliman 2004: 279]⏏ɛɞ⏋ౖࡔɹ˓ ˽͞ͻ͌ᩆᜨลᬠɹᩆȴʰ⏋ಔᦲᩆᜨลᬠɹ˓˽͞ͻ͌ᩆᜨᨆᬐʍɰʶɞȿɹው֪ȵȡɤɛ ȴɻɄʶʚɫɹድɫɻ౩ʰȴɴɲɤɩȦɲȦ⏏ ፀ 3 ɴ⏋жଁᬏܕɴȲȿʳ˓˽͞ͻ͌ᩆᜨɹжᦜɭɗɹѝɫȡʳ⏏˓˽͞ͻ͌ᩆᜨลᬠ ȵጓɇʶɛܕɹȼɻ⏋ʢɭʢɭᐁཕᇕɲкɹȦܕɫȡɤɛ⏏႕ɴ⏋1970 ॷБץȴ ʰ 1980 ॷБմץɴȴȿɩȼɹ˓˽͞ͻ͌ᩆᜨลᬠȵጓɇʶɛ˽ͻ̋Ͳɫɻ⏋Ꮺϝʦᕶး ပࢀɴʭɤɩᰎɹࢪӁ֭ˁୃȭʳɲɰܕԒᐁཕȵжᦜɌ⏋ɗʶɴЫȦ⏋˓˽͞ͻ͌ᩆᜨล ᬠɹ̶̮˝ͻ͇Ͳ˽ʢੲɌɛ [Stiansen 2004: 161-165]⏏ʚɛ⏋ᯊ٨ɹ˓͞ͲɴȲȦɩʢី үᡉܕɭɹϯᬠѥɹੲɴʭʳࢪᢼ౫⏋ᢪკɹέ୷ɴʭɤɩܕԒᐁཕȵжᦜɌ⏋˓˽ ͞ͻ͌ᩆᜨลᬠɹʛʢᠭɭɻȦȭɲȴɤɛ [Warde 2000: 117-120]⏏Ʉʶʰɹϟёɻ⏋˓˽ ͞ͻ͌ᩆᜨลᬠˁʱॎȼʭʱ߂ȷɲᐁཕᄩޅɴʭɤɩжᦜˁоәɲȼɇʶɛɭȦȩүᯆȵ ȼ⏋Υෙɴ˓˽͞ͻ͌ᩆᜨลᬠȵႶɫ߉ఞɌɛɭɻȦȭɲȦ⏏Ʉʶʰɹܕɹ˓˽͞ͻ͌ᩆᜨ ลᬠɫɻ⏋˓˽͞ͻ͌ᇕɲჿਥɹࡸᤋɹʓȴɴ⏋˓˽͞ͻ͌ᩆᜨลᬠȵ⏋ȦȴɴܕԒɹᐁཕᇍ ࣙɴᣂɐʳȴɭȦȩჼࡸᇕɲکᰍɴ߂ȷȼሁᯆɌɩȦʳ⏏ 2.4̙࣯ࠔฦмѺѥ૯ฦި࠺͂1990 േ̹̓ 1990 ॷБɴɲʳɭ⏋ჼБ˓˽͞ͻ͌ᩆᜨɻృɛɲࣙᬖˁᦎȭʳɄɭɴɲʳ⏏ɗɹ႕ਐɭɻ⏋ ፀ 1 ɴ⏋μആܩݖГʍɹჼБ˓˽͞ͻ͌ᩆᜨɹዷᬚᇕୟ߂⏋ɗɌɩ⏋ፀ 2 ɴ⏋˓˽͞ͻ͌ ହᣂ̶ˎͲ̝ʦ˓˽͞ͻ͌ѳ᭝Цɹሂ๖Ƚጓɭਸ਼ᦵɲࣙᬖ⏋ɗɌɩ⏋ჼБ˓˽͞ͻ͌ᩆᜨ ˁᐏୠɐʳܕ᭬ᇕɲᏼᑩɹୟӱɭȦɤɛᣒᇕୟ߂ȵ୲Ɂʰʶʳ⏏ ፀ 1 ɴɦȦɩɻ⏋1990 ॷБɻ⏋ɗʶГմɴ˓˽͞ͻ͌ᩆᜨลᬠɹጓȵμആܩݖɫሂ๖Ȧ ɞГմɹಁೝɭປʏɩ⏋Ʉɹಁೝɴɻ⏋႕ɴആˏ˻ˏɴȲȿʳ˓˽͞ͻ͌ᩆᜨลᬠɹጓȵ ሂ๖Ȧɞ⏏͇ͤͻ˹ˏɫɻ⏋1993 ॷɴံգࡎᩆᜨըɹࢷԂȵಔᦲᩆᜨลᬠɴȲȦɩʢ᠗ʠ ʰʶɛ [Warde 2000: 126]⏏ɗɌɩ⏋1997 ॷɹˏ˻ˏᦲᢪลГᭇ⏋Ȧȼɦȴɹಔᦲᩆᜨลᬠ ˁჿɐʳዐɫ 1999 ॷɴܕԒ 2 ᅱᇿɹ˓˽͞ͻ͌ᩆᜨลᬠɫȡʳ͌ˏ͇̜̒͞᪃ȵጓ ɇʶɛᴚ࣎ 2003: 92⏏18) ʚɛ⏋᭰ܕ˓Ͳ̝̦˹ˏɴȲȦɩʢ⏋1992 ॷɴܕԒ՟ɹԃܕៀฐ 18) Ʉɹဣȴʰɐʳɭ⏋ˏ˻ˏᦲᢪลɻ˓˽͞ͻ͌ᩆᜨɴɭɤɩ̺͞˽ɹكɴӈȦɛɭᓒȭʳɄɭʢɫȷʳ⏏ɛ ɞ⏋ЁɹድɴȲȦɩˏ˻ˏᦲᢪลɭ˓˽͞ͻ͌ᩆᜨɭɹᬠѥɴɦȦɩɻמՕɲද២ȵਖឹɫȡʳ⏏
ɹ˓˽͞ͻ͌ᩆᜨลᬠɫȡʳ͌ˏ͇̜̒͞᪃ȵጓɇʶ⏋˽̩̜͡кըगޙɹ 1999 ॷɴ ɻಔᦲᩆᜨลᬠȵ˓˽͞ͻ͌ᩆᜨᨆᬐˁᒞɐʳɄɭȵخᔨɴɲɤɛ 2004: 18-19⏏
ɇ ʰ ɴ⏋ ˹ ̘ ˑ ̫ Ͳ ˪ ˫ ͡ ͻ ̺ ʦ ̍ ˙ ͻ ˽ ͇ Ͳ ̩ ̒ ̊ Ͳ⏋HSBC (Hong Kong and Shanghai Banking Corporation) ɲɰɹ๘ᎦᏙɹᩆᜨลᬠɴʭʳ˓˽͞ͻ͌ᩆᜨᨆᬐɹᒞʦ⏋ ˓˽͞ͻ͌ᩆᜨลᬠɴʭʳ๘Ꭶఌঊɹᬖɲɰγᅠᇕɲͤ̾͡ɴȲȦɩʢ˓˽͞ͻ͌ᩆᜨɹ֪ ȷȵ༎ᇍɴɲɤɩȦʳ [Iqbal and Molyneux 2005: 58]⏏ᇿɐʏȷɻ⏋˓˧͠˽ɹϟёɫȡʱ⏋ 1990 ॷБץɽɴ⏋য়ಁ⏋˓˧͠˽ܕԒڞΥɹ˓˽͞ͻ͌ᩆᜨลᬠɫȡɤɛˏ͡⏮̫͞ˡͦ Ͳ̝Ͳ᪃ȵ⏋ᩆᜨ֭ˁʠȽɤɩμ߈᪃ɭࢪጓɌɛɄɭɫᦡˁȦʰʶ⏋19) ˓˧͠˽ɴ ೣˁᒞȼႶጓɌɛ˓˽͞ͻ͌ᩆᜨลᬠɹጓȵέخᔨɴɲɤɩȦɛȵ⏋2004 ॷ 8 ɴμ߈ ᪃ȵ˓˽͞ͻ͌ᩆᜨลᬠɹጓ៰خˁՏɌ⏋ؾॷ 9 ɴ˓˧͠˽˓˽͞ͻ͌᪃ȵᬖঊ Ɍɛ⏏20) ɄɹɄɭɻ⏋γᅠᐁཕɹμɫ⏋˓˽͞ͻ͌ᩆᜨɴࢪɐʳᮛឹˁ⏋Υɹ˫ͦͻ̫͡ ˽̊Ͳ̋ͻ̝ʍɹ᭭ࢀɭɌɩՖʱஅɩʳɄɭȵɫȷɲȼɲɤɛɄɭˁᢒਐᇕɴᝠɌɩȦʳɫȷ Ʌɭɫȡʳɭᓒȭʰʶʭȩ⏏ ፀ 2 ɹᣒᇕୟ߂ɴɦȦɩɻ⏋˓˽͞ͻ͌ହᣂЦʦ˓˽͞ͻ͌ହᣂ̶ˎͲ̝⏋ɗɌɩ˓˽ ͞ͻ͌ѳ᭝Цɹሂ๖Ƚጓɭਸ਼ᦵɲࣙᬖɭ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁᐏୠɐʳܕ᭬ᇕɲᏼᑩ ɹୟӱɫȡʳ⏏Ʉʶʰɹؘɹ֪ȷɴȲȦɩ⏋͇ͤͻ˹ˏɭ̫̩ͤͻͲȵ႕ɴၖਕɴɲɤɩȲ ʱ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹμਕܩˁკɐʳɛʠɹၘဦɲϝȦɭȦɤɛฐˁ٘ɌɩȦʳ⏏
͇ͤͻ˹ˏɫɻ⏋1994 ॷɴɻ⏋ܕԒ˓˽͞ͻ͌ᩆᜨ॑ݭ (Islamic Interbank Money Market, IIMM) ȵᬖɇʶ⏋˓˽͞ͻ͌ହᣂЦʦ˓˽͞ͻ͌ହᣂ̶ˎͲ̝ɹؚᇰ̶̮˝ͻ͇Ͳ˽ˁ ᝠɐ୭ధ (RHB Islamic Index) ȵҺɇʶɛ [Warde 2000: 126-127]⏏ʚɛ⏋2001 ॷɴᇍᝠɇʶ ɛЁ 10 ॷᬚɹ͇ͤͻ˹ˏɹᩆᜨᨆᬐɹ͇˽̊ͻ̺͞ͲɴȲȦɩჼБ˓˽͞ͻ͌ᩆᜨɹഗɛ ɐ৲ւȵᠭɇʶɩȦʳ [Iqbal and Molyneux 2005: 46]⏏ɗʶɴЫɤɩ⏋2002 ॷ 11 ɴɻ⏋ ˓˽͞ͻ͌ᩆᜨɹ֭ԒࢅɹᐏΥᇕɲˤ˓̝͞˓ͲɹҺˁςɲᇿᇕɭɌɛܕ᭬ᇕɲᏼᑩɫ ȡʳ˓˽͞ͻ͌ᩆᜨ֭ࠇڊЦ (Islamic Financial Services Board, IFSB) ˁጓɌɛ[Iqbal and Molyneux 2005: 62-63]⏏ɇʰɴ⏋1989 ॷɴ᱗ཬʦ˹Ͳˤͅͻ͡ɭɲʰʉˠ̶˹͚ˏᩆᜨ́Ͳ ̊ͻɴɲʳɄɭˁʠɊɌɩᬖᇍɇʶɩȷɛ̸͞ˏͲऄˁృɛɴჼБ˓˽͞ͻ͌ᩆᜨɹᮃዩܩɭ
ɐʳɄɭˁʠɊɌɩȦʳ⏏21)
Υɹ̫̩ͤͻͲɻ⏋1973 ॷɴ̫̩ͤͻͲᩆᜨং (Bahrain Monertary Agency, BMA) ˁ
19) ɄɹɫȷɅɭɹᰕೢɴɦȦɩɻ⏋NHK ˽̿˹͑͡ȋ˓˽͌͞ȍ̺ͦ˻˙˪̜ 2000: 174-176ˁؒ၇⏏ 20) ˓˧͠˽˓˽͞ͻ͌᪃ɹᒞ៰خɭᬖঊɴɦȦɩɻ⏋BBC ɹ˗˙̸ႆ̢͖ͻ˽ (http://news.bbc.co.uk) ˁؒ၇ Ɍɛ⏏ 21) ˠ̶˹͚ˏ́Ͳ̊ͻɭɻ⏋ᕶܕȡʳȦɻЈܕȴʰᣂᩆˁᠭ᧒ɌɩЈܕʍᜨᣂɐʳɛʠɴፀΪܕɴȿʰʶɛܕ ᭬ᩆᜨ॑ݭɹɄɭɫȡʳ⏏ɗɄɫɻ⏋ዒըΫɹӦᧇɲɰɇʚɊʚɲӦᧇᒞˁϳ؝ɐʳɄɭȵɫȷ⏋Υᖔɹᩆᜨ ৄɭປʏɩᕶᅓȵ߂ȷȦ⏏
ጓɌ⏋ɗʶʚɫɹμആܩݖɹᩆᜨɹμਕܩɫȡɤɛ̨̫ͤͲɴБʼʱ⏋ܕ᭬ᇕɲˠ̶˹͚ˏ ᩆᜨ́Ͳ̊ͻɭɌɩɹ৲ւˁഗɛɌɩȷɛ⏏22) ɗɹɛʠ⏋ᩆᜨৄɴȲȿʳɇʚɊʚɲӦᧇ ᒞȵɐɫɴҺɇʶɩȦɛ⏏ዒըɹӦᧇʦ֝ӈອྈɹᲞɇ⏋ᩆᜨ॑ݭʍɹకፑᇕɲЂԂ ⏋ᇕങᏼʛɹ؏ൔਸ⏋ဤ್ըᭉ⏋ᢼ౫ɹᕶᅓ⏋ᮚࡎ̦̜̒ͩͻ˪ɹӱࡸɲɰ⏋ȡʰ ʪʳүᯆɴȲȦɩ⏋̫̩ͤͻͲɹӱࡸɻ⏋μആܩݖɹᩆᜨ́Ͳ̊ͻɹμਕᇕܩеˁႰȩЈ ɹܕǾ⏃̝̫˓⏋ˏ̸̲̋⏋ˡ̊͡⏆ɹμɫʢାȷ˃ՏɩȦʳɭȦɤɩʢʭȦ [Warde 2000: 128-129]⏏ɗɹ̫̩ͤͻͲɻ⏋ȦɠȼჼБ˓˽͞ͻ͌ᩆᜨɹᩂឹਸˁឿାȷ⏋ჼБ˓˽͞ͻ ͌ᩆᜨɹࡸᤋˁዩෑᇕɴߣ֜Ɍɩȷɛ⏏ɗɹᐄഗ⏋ჼܧ⏋γᅠɹܕǾɹμɫ⏋̫̩ͤͻͲɻ⏋ ʢȼɹ˓˽͞ͻ͌ᩆᜨลᬠˁɌɩȦʳ⏏ɗɹధɻ⏋˓˽͞ͻ͌᪃ȵ 6⏋ˠ̶˹͚ˏᩆ ᜨลᬠȵ 3⏋˓˽͞ͻ͌ହᣂ᪃ȵ 17⏋ɗɹЈ˓˽͞ͻ͌ᩆᜨᏙɹลᬠȵ 6ɫȡʳ⏏23) Ʉɹʭȩ ɲ̫̩ͤͻͲɴȲȿʳჼБ˓˽͞ͻ͌ᩆᜨɹᇍࣙˁᢒਐɐʳɫȷɅɭɭɌɩɻ⏋๖ɹ 3 ɦȵ ୲Ɂʰʶʭȩ⏏ፀ 1 ɴ⏋1996 ॷɴ⏋˹̘ˑ̫Ͳ˪˫͡ͻ̺ȵЈɹ๘ᎦᏙɹᩆᜨลᬠɴӴᱤ ȿɩႶጓɌɛ˓˽͞ͻ͌ᩆᜨลᬠ⏃˹̘ˑ˓˽͞ͻ͌ହᣂ᪃⏆ˁ̫̩ͤͻͲɴጓɌɛɄ ɭɫȡʱ⏋ፀ 2⏋1998 ॷɴ DMI ɭιʉ˓˽͞ͻ͌ᩆᜨลᬠ˫͡ͻ̺ɫȡʳ̋̒͞ˏ͡⏮̫ ͞ˡ˫͡ͻ̺ɹᐏୠЦˁ̫̩ͤͻͲɴጓɌɛɄɭɫȡʱ [Warde 2000: 129]⏋24) ፀ 3 ɴ⏋ ̫̩ͤͻͲɴɻȼɹჼБ˓˽͞ͻ͌ᩆᜨɴᬠʼʳܕ᭬ᇕɲᏼᑩɹဣȵࡔܧɐʳɄɭɫȡ ʳ⏏25) ჼБ˓˽͞ͻ͌ᩆᜨɴᬠɐʳృɹ֪كɭɌɩɻ⏋2005 ॷ 6 ɴɻ⏋GCIBFI ȵ⏋1 ॷГ Ԓɴᣂೣᩆ 10 ӜᎦ̝͡ៀฐɹγᅠ߂ɹ˓˽͞ͻ͌ᩆᜨลᬠˁጓɐʳɄɭˁ౩ʰȴɴɌ ɛ⏏Ʉɹᩆᜨลᬠɻ⏋҅Ϻكȿɫɻɲȼ⏋γᅠμɹ˓˽͞ͻ͌ᩆᜨลᬠʦ˓˽͞ͻ͌ᩆᜨ॑ ݭɹۊʦᣂᩆɹᅎˁʭʱԓྜྷɴɐʳɄɭˁᇿᇕɭɌɩ⏋5 ॷГԒɴᣂೣᩆˁ҆ވɹ 20 Ӝ Ꭶ̝͡ɴɐʳɄɭˁʠɊɌɩȦʳ⏏Տᣂลᬠɴɻ⏋˓˽͞ͻ͌ᬖᇍ᪃ʦ̋̒͞ˏ͡⏮̫ ͞ˡ˫͡ͻ̺ɲɰȵؿˁᦹɷ⏋͇ͤͻ˹ˏ⏋̫̩ͤͻͲ⏋ˏ̸͞᱔ᬏܕᦹ᧷⏋˵˗˻ˏ̲͞ ˏ⏋ˡ̊ͻ͡ȵ⏋ጓɇʶʳᩆᜨลᬠɹೣᨆɹᒞˁʠȽɤɩᕹغˁɌɩȦʳ⏏26) 22) μആܩݖɴȲȿʳᩆᜨɹμਕܩɹው֪ɻ⏋1975 ॷɴࠃʚɤɛ̨̫ͤͲԒȵ߂ȷȼᬠʼɤɩȦʳ⏏ 23) 2005 ॷ 12 ჼܧɹధࡓɫ⏋˓˽͞ͻ͌ѳ᭝Цɻ᭑ȼ⏏ధࡓɻ⏋BMA ɹ́ͻ͌̿ͻ˻ (http://www.bma.gov.bh) ˁؒ၇Ɍɛ⏏ 24) 1996 ॷɴ̫̩ͤͻͲɴጓɇʶɛ˹̘ˑ̫Ͳ˪˫͡ͻ̺Ꮩɹ˓˽͞ͻ͌ᩆᜨลᬠɹؿዌɴɦȦɩɻ⏋˹̘ˑ ˓˽͞ͻ͌ହᣂ᪃ɹ́ͻ͌̿ͻ˻ (http://www.citibank.com) ɫተ᠗Ɍɛ⏏ 25) ̫̩ͤͻͲˁဣɭɐʳܕ᭬ᇕɲᏼᑩɴɻ๖ɹʭȩɲʢɹȵȡʳ⏃ˡ̒˱Ԓɻ⏋িؿዌ⏋ᅭዌ⏋ጓॷɹ ⏆⏏˓˽͞ͻ͌ᩆᜨลᬠЦᇺീล෯⏃Accounting and Auditing Organization for Islamic Financial Institutions, AAOIFI, 1991 ॷ⏆⏋˓˽͞ͻ͌ᩆᜨลᬠΥᖔᡴЦ⏃General Council for Islamic Banks and Financial Institutions, GCIBFI, 2001 ॷ⏆⏋ܕ᭬˓˽͞ͻ͌ᩆᜨ॑ݭ⏃International Islamic Financial Market, IIFM, 2002 ॷ⏆⏋ܕ᭬˓˽ ͞ͻ͌ѝลᬠ⏃International Islamic Rating Agency, IIRA, 2002 ॷ⏆[Iqbal and Molyneux 2005: 60-63]⏏ 26) ГΫɹ֪ȷɴɦȦɩɻ⏋GCIBFI ɹ́ͻ͌̿ͻ˻ (http://www.islamicfi.com) ɴᥔɇʶɩȦʳ 6 29 Њɹ
2.5̙ॳേҔҩә̴ӐࣜᄧѠॳ ˓˽͞ͻ͌ᩆᜨลᬠɹధɴɦȦɩɻ⏋ɇʚɊʚɲድลᬠʦయɴ៨ɇʶɩȦʳȵ⏋ɗʶʰ ȵлˁ˓˽͞ͻ͌ᩆᜨลᬠɭɌɩˡ˗Ͳ̜ɌɩȦʳȴɴʭɤɩ߂ȷȼధȵʼɤɩȷɩȦʳ⏏ ˓˽͞ͻ͌᪃ѳ᭝ድଘɹ́ͻ͌̿ͻ˻ΫɴᥔɇʶɩȦʳ˓˽͞ͻ͌ᩆᜨลᬠɹధɻ⏋˓ ˽͞ͻ͌᪃⏋˓˽͞ͻ͌ହᣂЦȵ 224 ⏃⏆⏋˓˽͞ͻ͌ହᣂ̶ˎͲ̝ɭ˓˽͞ͻ͌ѳ ᭝Цȵ⏋ɗʶəʶ 99 ⏋46 ɫȡʳ⏏27) ɄʶʰˁɌغʼɓ⏋͇ͤͻ˹ˏɹ˓˽͞ͻ͌ᩆ ᜨᨆᬐɹ 36 ⏃⏆ˁ᭑ȼɭ⏋ᨆՕᇕ˓˽͞ͻ͌ᩆᜨลᬠˁ᭑ȼ˓˽͞ͻ͌ᩆᜨลᬠɹధɻ 333 ⏃⏆ɴɹʖʳ⏏ ɦɧȦɩ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁࡸᤋɌɩȦʳܕ⏃ܩݖ⏆ɭɗɹՕ॒ˁឿʳ⏏˓˽͞ͻ͌ᩆ ᜨลᬠɻ⏋ܕޅˁᣴȭɩ༎֪ɐʳ˓˽͞ͻ͌ହᣂ̶ˎͲ̝ˁ᭑ȼɭ49Ͷܕɴɹʖʳ⏏28) ɗɹܩ 27) ˓˽͞ͻ͌᪃ѳ᭝ድଘɹ́ͻ͌̿ͻ˻ (http://www.islamic-banking.com) ˁؒ၇Ɍɛ⏏ 28) ˓˽͞ͻ͌᪃ѳ᭝ድଘɹ́ͻ͌̿ͻ˻ (http://www.islamic-banking.com) ɴʭʳɭ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁࡸ ᤋɌɩȦʳܕ⏃ܩݖ⏆ɻ⏋49 Ͷܕɴɹʖʳ⏏ܩݖաɴ՞୲ɐʳɭ๖ɹʭȩɴɲʳ⏏ˏ̶͠ˡɻ⏋ˏ͡˻˙͠ˏ⏋ ˻̸̍⏋˛˻̺̜⏋ˤͲ̲ˏ⏋˧̢ˏ⏋˱ͻ̜̚ˑʹ˝ˏͻ͡⏋͐ͻ̢̊͠ˏ⏋͐ͦ̒˱⏋̢˻˙ͻ͡⏋̠˓ ˻˙͠ˏ⏋̦́ˤ͡⏋ˏ̶͠ˡԊٮܕ⏋˽ͻ̋Ͳ⏋̢͖̍˻ˏɹ 14 Ͷܕ⏋μആɻ⏋̫̩ͤͻͲ⏋˓͞Ͳ⏋˓͞ ˪⏋̋͜͡Ͳ⏋˪˗˙ͻ̜⏋̨̫ͤͲ⏋ˠ͇ͻͲ⏋̮ͤ˽̠̍⏋ˡ̊͡⏋˵˗˻ˏ̲͞ˏ⏋̜͡˱⏋ˏ̸͞᱔ᬏ ܕᦹ᧷⏃ˏ̸̲̋⏋̝̫˓⏋˹͑͡˻͑⏆⏋˓˛͍Ͳɹ 13 Ͷܕ⏋ˏ˻ˏɻ⏋̫Ͳ˫̚͞˹͖⏋˓Ͳ̝⏋̮˥˽ ̊Ͳ⏋˽͠͞Ͳˡɹ 4 Ͷܕ⏋ആˏ˻ˏɻ⏋̸̦͡˓⏋˓Ͳ̝̦˹ˏ⏋͇ͤͻ˹ˏɹ 3 Ͷܕ⏋EU ɻ⏋̚Ͳ͇ͻ ˪⏋̶͞Ͳ˽⏋̝˓̓⏋˓̊͠ˏ⏋͡˪́Ͳ̸͡˪⏋˽˓˽⏋˓˧͠˽ɹ 7 Ͷܕ⏋EU Гɹ͜ͻ̮ͦ̒ɻ⏋ˏ͡ ̢̫ˏ⏋ͦ˹ˏɹ 2 Ͷܕ⏋Ꭶɻ⏋ˡ̠̋⏋ˏ͍͠ˡغᝓܕɹ 2 Ͷܕ⏋μᎦɻ⏋̫̩͇⏋ᗔ᯿̫ͻ˻Ͳᡉऄ⏋ ˭˓͇Ͳᡉऄɹ 3 Ͷܕ⏃ܩݖ⏆⏋߂िɻ⏋ˠͻ˽̜͞͠ˏɹʛɫȡʳ⏏ɲȲ⏋ܩݖɹՕᰖɻ⏋֭ህɹ́ͻ͌ ̿ͻ˻ (http://www.mofa.go.jp) ɴȲȿʳՕᰖ⏃ˏ̶͠ˡ⏋μആ⏋ˏ˻ˏ⏋͜ͻ̮ͦ̒⏋Ꭶ⏋Ꭶ⏋߂ि⏆ˁ ݜೣɭɌɛ⏏ɗʶɴ֓ȭɩ⏋ˏ˻ˏˁˏ˻ˏ⏋ആˏ˻ˏ⏋ആˏ˻ˏɴ⏋͜ͻ̮ͦ̒ˁ EU ɭɗʶГɴՕȿ ɛ⏏ɲȲ⏋ആˏ˻ˏɻ⏋ASEAN ֓ᇸܕɴആ̘ˑ͐ͻ͡ˁ֓ȭɛܕǾɫȡʳ⏏ʚɛ⏋μആɴɻ⏋̮ͤ˽̠̍ˁ⏋ EU ɴɻ⏋˽˓˽ˁ⏋μᎦɴɻ⏋ᗔ᯿̫ͻ˻Ͳᡉऄɭ˭˓͇Ͳᡉऄˁ֓ȭɛ⏏ ྱ 1̙ඏڮသѠҔҩә̴Ӑࣜᄧ࠽ࠖѠ఼њ̜ొކಸരѝಐѳѽяѠ߄৻ ᩆᜨลᬠɹధ ւغ ˏ̶͠ˡ 35 16% μആ 88 39% ˏ˻ˏ 14 6% ആˏ˻ˏ 21 9% ആˏ˻ˏ 0 0% EU 33 15% ɗʶГɹ͜ͻ̮ͦ̒ 1 0% Ꭶ 21 9% μᎦ 9 4% ߂ि 2 1% غǵǵ 224 100% Տଘ⏧˓˽͞ͻ͌᪃ѳ᭝ድଘɹ́ͻ͌̿ͻ˻ɹ͠˽̜ˁʢɭɴсଁ⏏
ݖᇕɲՕ॒ˁឿʳɭ⏃ᝠ 1 ˁؒ၇⏆μആܩݖȵܦ҉ᇕɲధɹ˓˽͞ͻ͌ᩆᜨลᬠˁɌɩȦ ʳɄɭȵʼȴʳ⏏ʚɛ⏋ˏ̶͠ˡ⏋ˏ˻ˏɭആˏ˻ˏˁغʼɓɛˏ˻ˏʢɗʶɴ๖Ȧɫ ȼɹ˓˽͞ͻ͌ᩆᜨลᬠȵጓɇʶɩȦʳ⏏ɄɄɫʢᇿɐʏȷɻ EU ᡉܕɴȲȿʳ˓˽͞ͻ ͌ᩆᜨลᬠɹధɫȡʳ⏏EU ɻ⏋ܕɹధɹɇɞȿɫɲȼ⏋ᩆᜨลᬠɹధɴȲȦɩʢ⏋ჼБ˓ ˽͞ͻ͌ᩆᜨԃкɹμɫ⏋ɗɹࡔܧઢˁኍɌɩȦʳ⏏ ๖ɴ⏋˓˽͞ͻ͌ᩆᜨลᬠɹៀฐɴɦȦɩឿʳ⏏˓˽͞ͻ͌ᩆᜨลᬠɹ፬ჿᣂᅋᐵᰎɻ⏋˓ ˽͞ͻ͌᪃ѳ᭝ድଘɹ᠅፤ɫɻ⏋Ꮭ 2000 ӜᎦ̝͡ГΫɫȡʱ⏋29) 2003 ॷɹ IMF ˵ͻ̾ ˓ɴʭʳɭᏝ 3600 ӜᎦ̝͡ɭɇʶɩȦʳ [IMF 2003]⏏IMF ɹధғɴਃȭɽ⏋ԃγᅠɹᩆᜨล ᬠᣂᅋɹ 0.8⎾ˁװʠʳɄɭɴɲʱ⏋Ʉʶɻ⏋ͦ˹ˏɹ GDP⏃Ꮭ 4000 ӜᎦ̝͡⏆ɴיపɐʳ⏏ 0.8⎾ɭȦȩւغɻ⏋ʚɞᯃ।ɴࢸɇȦȵ⏋ᇍࣙΫܕɹȦ˓˽͞ͻ͌ᡉܕɹᩆᜨลᬠɹᣂ ᅋᐵᰎɴՕທˁழȭʳɭɗɹւغɻʢɤɭ߂ȷȼɲʳɭᓒȭʰʶʳ⏏Ʉɹȩɠ⏋ៀฐɹ߂ȷȦ ˓˽͞ͻ͌ᩆᜨลᬠɴȲȿʳᣂᅋᐵᰎˁᝠ 2 ɴኍɌɛ⏏ ʚɛ⏋ςɲܕɫɹ˓˽͞ͻ͌ᩆᜨลᬠɹ̺ͤ̄Ͳ˽ˁܕԒᩆɹ˹˙ˏɴʭɤɩឿʳɭ⏋̫ ̩ͤͻͲɻ9.8⎾⏃1996 ॷ⏆⏋˛˻̺̜ɻ 5.7⎾⏃2000 ॷ⏆⏋̋͜͡Ͳɻ 10.3⎾⏃2001 ॷ⏆⏋ ˪˗˙ͻ̜ɻ 15.5⎾⏃1998 ॷ⏆⏋ˡ̊͡ɻ 18.1⎾⏃1997 ॷ⏆⏋˽ͻ̋Ͳɻ 27.9⎾⏃1998 ॷ⏆⏋ ̜͡˱ɻ1.8⎾⏃2001 ॷ⏆⏋30) ˏ̸͞᱔ᬏܕᦹ᧷ɻ 7.9⎾⏃1996 ॷ⏆⏋˓˛͍Ͳɻ 4⎾⏃1997 ॷ⏆⏋͇ͤͻ˹ˏɻ 1.6⎾⏃1997 ॷ⏆ɭɲɤɩȲʱ⏋1 ւȴʰ 2 ւɹ˹˙ˏˁკɌɩȦ ʳɄɭȵʼȴʳ [Henry and Wilson 2004: 7]⏏
29) ˓˽͞ͻ͌᪃ѳ᭝ድଘɹ́ͻ͌̿ͻ˻ (http://www.islamic-banking.com) ˁؒ၇Ɍɛ⏏ 30) ̜͡˱ɻ⏋2000 ॷɹᩆᜨลɴʭɤɩ⏋ܕԒ߂ɹ˹˙ˏˁ᠔ɤɛ˓̶͞˽̶ˎ˓̠Ͳ˽ȵቑᐮɌɛ⏏2000 ॷ˓̶͞˽̶ˎ˓̠Ͳ˽ቑᐮմʚɫɹ̜͡˱ɴȲȿʳ˓˽͞ͻ͌ᩆᜨลᬠɹᩆ˹˙ˏɻ⏋3.5⎾ɫȡʳ [Henry and Wilson 2004: 7]⏏ ྱ 2̙କᅃҔҩә̴Ӑࣜᄧ࠽ࠖѝмуѽુઊೱ ᩆ ᜨ ล ᬠ ؿ ⏃ॷ⏆ ⏃ᇑΨᎦ̝͡⏆ ˏ̒⏮͞ͻ˻͖̯ͻ᪃ହᣂЦ 2004 20,758 ˪˗˙ͻ̶̜ˎ˓̠Ͳ˽̩˗˽ 2004 11,842 ͇ͤͻ˹ˏ˓˽͞ͻ͌᪃ 2005 4,231 ̝̫˓˓˽͞ͻ͌᪃ 2001 4,174 ˛˻̶̺̜ˎ˓˵͡˓˽͞ͻ͌᪃ 2004 2,722 ̫̩ͤͻͲ˹͑ͻ͊͡᪃ 2004 1,613 ̋͜͡Ͳ˓˽͞ͻ͌᪃ 2004 1,591 ˏ͡⏮̫͞ˡ̜͡˱̶ˎ˓̠Ͳ˽̩˗˽ 2004 1,097 ̫̩ͤͻͲ˓˽͞ͻ͌᪃ 2004 676 ˏ͡⏮̫͞ˡ˓˽͞ͻ͌᪃ 2003 405 غǵǵ 49,109 Տଘ⏧عᩆᜨลᬠɹॷ๖ͤͅͻ̜ɹధғˁʢɭɴᎦ̝͡ழ፤⏏
3̝ॳേҔҩә̴Ӑࣜᄧ҄ѳтѽჲൌњड़ࢂຊ
ГΫɫឿɩȷɛჼБ˓˽͞ͻ͌ᩆᜨɹرᇕࣙᬖˁᤑʚȭɩ⏋ೣ፲ɫɻჼБ˓˽͞ͻ͌ᩆᜨ ȵሁᯆɌɛࡸᤋΫɹکᰍˁ୷ʱᦐʳ⏏ɗʶɻ⏋߂ȷȼ 2 ɦȡʱ⏋ፀ 1 ɴ⏋ჼБ˓˽͞ͻ͌ᩆ ᜨɹ˓˽͞ͻ͌ʍɹ᧟غਸɹکᰍ⏋ፀ 2 ɴ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȿʳᐁཕغჿਸ ɹکᰍɫȡʳ⏏ჼБ˓˽͞ͻ͌ᩆᜨɹድɴȲȦɩɻ⏋ɗʶəʶɹکᰍɴࢪਝɐʳ০ɫɗʶə ʶᓒ࢘ȵʼʶɩȦʳ⏏ፀ 1 ɹکᰍɴࢪɌɩɻ⏋˓˽͞ͻ͌ȴʰɹˏ̺ͦͻ̍ɴʭɤɩ⏋ ፀ 2 ɹکᰍɴࢪɌɩɻ⏋ᐁཕȴʰɹˏ̺ͦͻ̍ɴʭɤɩᓒ࢘ȵʼʶɩȦʳ⏏Гάɫɻ⏋ ࡸᤋΫɹکᰍɭɭʢɴ⏋ɗʶɴࢪਝɌɛድɹ֪كɴɦȦɩʢៜؖɐʳ⏏ 3.1̙ॳേҔҩә̴ӐࣜᄧњҔҩә̴Ӑၑ ፀ 1 ɴ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹ˓˽͞ͻ͌ʍɹ᧟غਸɹکᰍȵ୲Ɂʰʶʳ⏏˓˽͞ͻ ͌ɫɻ⏋˪͡ˏͻͲɴʢៜؖȵȡʳʭȩɴ⏋̫͠ͻ (ribā) ɹȵኧɇʶɩȦʳ⏏31) ̫͠ͻ ɹˏ̲͞ˏɹᒶɻ⏋ȋވ֓ɐʳȍȋ߂ȷȼɲʳȍɫȡʱ⏋Υᖔɴ⏋ᐁཕᇕɲϯழɹݭᯆɴȲ Ȧɩ⏋ሁஞᇕɲ֝ӈɴʭʳѝғɹЊ֓ˁЫʼɲȦɫέয়ɴգˁʳɄɭˁᝠɐɭɌɩ˓˽ ͞ͻ͌γᅠɫᅎȦʰʶɩȦʳ⏏32) ̫͠ͻȵɰɹʭȩɲϯழɴȲȦɩ᧟ᅎɇʶʳȴɴɦȦɩɻ⏋ رᇕɴȼɹᡴᠶȵȡʱ⏋˓˽͞ͻ͌༐Ʌɭɴᅵɲʳៗᨾȵࡔܧɐʳ⏏33) ɌȴɌ⏋ᦏБ ɴԂʱ⏋͜ͻ̮ͦ̒ȴʰɹᩆᜨըɹࢷԂɴʭɤɩ⏋̫͠ͻɴɦȦɩɹςឹɲᡴᠶɹࢪᢒɻ⏋ ֝ӈɴʭʳѝғɹЊ֓ˁЫʼɲȦಔᦲᩆᜨลᬠɴȲȿʳգࡎȵ̫͠ͻɴሂয়ɐʳȴوȴɭȦȩ ဣɴᐈʰʶɛ⏏ɗɄɫɻ⏋̫͠ͻɴࢪਝɐʳգࡎɹ፴ܑˁʠȽɤɩ⏋ɗʶˁɲᲞգɴᭉࡴ ɐʳጓݭɭ⏋գࡎɭ٧ɽʶʳȡʰʪʳʢɹˁ̫͠ͻɫȡʳɭឿɲɌɩ⏋Υ৾ɴኧɇʶɲȿʶ ɽɲʰɲȦɭɐʳጓݭɴՕȴʶɛࢸ 1994; Kuran 1995; Saeed 1999⏏য়՟ɻ⏋մᓔɹጓ ݭȵӦֳɫȡɤɛȵ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࣙᬖɴЫɤɩ⏋̫͠ͻˁȡʰʪʳգࡎɭɐʳᓔ ɹጓݭȵدᰄɌɩȷɛ⏏ɗɹ̾Ͳ͇̍ͻ˪ɭɌɩɻ⏋1991 ॷɹ⏋̮˥˽̊Ͳɹ˹͑͠ͻˏᦹ ᧷ՠଘɫɹՠໆ⏃ȋգࡎˁ᠗ʠʳ৾ɻ˓˽͞ͻ͌ɭ᧟غɌɲȦȍ⏆ʦ⏋1999 ॷɹؾɍȼ̮ ˥˽̊ͲɹᲞ˹͑͠ͻˏՠଘɹՠໆ⏃ȋȡʰʪʳգࡎȵ̫͠ͻɫȡʳȍ⏆ȵ୲Ɂʰʶʳ⏏34) 31) ɛɭȭɽ⏋˪͡ˏͻͲɴȲȿʳ̫͠ͻɹኧʍɹ౩ኍᇕɲៜؖɴɻ๖ɹʭȩɲʢɹȵȡʳ⏏ȋȡɲɛȵɛѵЖɐʳ ᓔʭ⏋҆ɴɌʚɛʢ҆ɴɌɩ⏋գࡎˁɤɩɻɲʰɲȦȍ⏃˓͌͞ͻͲࢃጟፀ 130 ፲⏆⏏ȋգਖ਼ˁʳᓔɻ⏋ੲɴ ɭʱɦȴʶɩ҉ʶɛʢɹȵɐʳʭȩɲᣱȷɌȴɫȷɲȦɫȡʸȩ⏏ɗʶɻȴʶʰȵȏڧެɻգਖ਼ˁɭʳʭȩɲ ʢɹɞ⏏ȑɭៜȩȴʰɫȡʳ⏏ɌȴɌˏ̒͞ͻɻ⏋ڧެˁ៰Ɍ⏋գਖ਼⏃Პգ⏆ˁኧɍɩȲʰʶʳȍ⏃ᮇႌጟፀ 275 ፲⏆⏏ 32) ̫͠ͻɴɻ⏋߂ȷȼՕȿɩ 2 ɦɹ̊˓̺ȵȡʳ⏏1 ɦɻ⏋ᦲᢪɹθ್ɹʭȩɴؾɍڧڃؾަˁϯழɐʳɭȷɹέ ፈѝϯழɫȡʱ⏋ɗɹ᭬ɴᇍᅊɐʳоՕɲգˁȋրоɹ̫͠ͻ⏃̫͠ͻˏ͡⏮̶ˎ̝͡⏋ribā al-fa.dr⏆ȍɭȦ ȩ⏏ʢȩ 1 ɦɻ⏋যଡʦᣂᩆɹҏԂˁɌɛɭȷɴ⏋Бᩆʦӯೣɴ֓ȭɩযଡʦҏԂɹࢪѝ⏃գࡎ⏆ˁఌଡȩɄɭ ɫȡʱ⏋Ʉʶˁȋೝᭉɹ̫͠ͻ⏃̫͠ͻˏͲ⏮̠˽ˑͻˏ⏋ribā al-nasī’ah⏆ȍɭȦȩ⏏ 33) Ɍȼɻ⏋[Saleh 1986] ˁؒ၇⏏ჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩ႕ਐᇕɫȴɦʢᩂឹɲکᰍɻ⏋ɗɹࡸᤋˁГΫɫᦚʏɛ͠ ̫ͻɹኧɴୄ៘ɌɲȦʭȩɲ০ɫ⏋գࡎˁᅎȦʳਃഀɹಔᦲᩆᜨลᬠȵഗɛɌɛᩆᜨɹลᔨ ˁɰɹʭȩɴ෯፷Ɍ⏋Б್ɌɩȦȼɄɭȵɫȷʳȴɭȦȩဣɫȡɤɛ⏏ɄɄɫઝɐʏȷɄɭ ɻ⏋ɗɹʭȩɲ᠅ʛɻ⏋˓˽͞ͻ͌رΫȷʼʠɩృɌȦʢɹɫȡɤɛɭȦȩဣɫȡʳ⏏ɲɕ ɲʰ⏋ᩆᜨɹลᔨˁΥୠɌɩȩʭȩɲลᬠɻ⏋˓˽͞ͻ͌ɹرΫ⏋ࡔܧɌɛɄɭȵɲȴɤ ɛȴʰɫȡʳ [Udovitch 1979: 255]⏏ɄɹɄɭɻ⏋մᦏБɹ˓˽͞ͻ͌γᅠɴᩆᜨɹลᔨȵέ ܧɫȡɤɛɄɭˁઝ٢ɐʳɹɫɻɲȼ⏋ɇʚɊʚɲ́˪̊ͻȵ⏋ᩂࣝᇕɴᩆᜨɹลᔨˁɤ ɩȦɛɄɭˁኍɌɩȦʳ⏏35) ɛɭȭɽ⏋ܕࢃɹܕঐ፬ჿˁȩลᬠɻ⏋̫˓̜ˏ͡⏮͇ͻ͡ (bayt al-māl) ȵɤɩȲʱ⏋ʚɛ⏋θ್ʦ᧙᭧ܩϯ౫ɴЫȩଝ০ɹᇍ⏋ȡʳȦɻϟʍɹହ ᣂɲɰɹ֭ɻ⏋˵̒͞ͻ̶ (àarrāf)⏋ȡʳȦɻ˻̶̫͑̀ (jahbadh) ɭ٧ɽʶʳᓔȵɤɩ Ȧɛ [Imamuddin 1997: 128-138]⏏ʚɛ⏋ჼܧɹᩆɴሂয়ɐʳลᔨɻ⏋ᢧᅋɹѳ፬ߕᏝʦϟ ߕᏝȵഗɛɌɩȲʱ⏋մᓔɴȲȦɩɻ⏋ჼܧɹᩆɹʭȩɴȴɤɛᣂᩆˁᅎɐʳɄɭɻ ៰ɇʶɩɻȦɲȴɤɛ⏏Υɹᓔɴሂয়ɐʳʢɹɻ⏋ᦚɐʳ͌̋ͻ̫͞ߕᏝ (mu.dārabah) ʦ͌˹͑ͻ͞ˡߕᏝ (mushārakah) ɲɰȵ୲Ɂʰʶʳȵ⏋Ʉɹɫɻ⏋ȴɤɛᣂᩆɴா߉ ȵᇍᅊɌɛݭغɴɻ⏋ȿςȵɗɹா߉ՕˁɐʏɩᢦɐʳɄɭɴɲɤɩȦɛɹɫ⏋͠˽˪ȵ ᯃ।ɴᲞȦɫȡɤɛ [Udovitch 1979: 258-261]⏏ ГΫɹʭȩɲرᇕᐁᑅȴʰ⏋ᩆᜨɹลᔨˁΥୠɌɩȩჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩɻ⏋ ˓˽͞ͻ͌ɴȲȦɩ᠗ʠʰʶɩȦɛرᇕɲৄߕᏝʦɗʶˁఌȭɛ˓˽͞ͻ͌ɹߕᏝჿᠶ ˁঃȼؒ၇Ɍɲȵʰ⏋ɗɹ˹˽̘͌ˁృɛɴ෯፷ɌɩȦȼਖឹȵȡɤɛ⏏ɗɹɛʠ⏋˓˽͞ͻ ͌ɻ⏋մᦏБʚɫɹ˓˽͞ͻ͌ɹߕᏝჿᠶˁჼБ˓˽͞ͻ͌ᩆᜨȵȲȩɭɐʳลᔨ ɴ᧟غɐʳʭȩɴᩆᜨଝɭɌɩԗ෯፷ɐʳ৲ւˁȩɄɭɴɲɤɛ⏏ɗɹዐɫɻ⏋رᇕ ᧨෯ɴݏʢʶɩȦɛߕᏝჿᠶȵԗᇍឿɇʶɛʱ⏋ౖࡔɹߕᏝჿᠶˁᩆᜨɹลᔨɴ᧟ਝɇɓʳɛ ʠɴԗ෯ଁˁɌɛʱɐʳсȵʼʶɛ⏏Ʉɹʭȩɲсɹଁഗɻ⏋ጓɇʶɛ˓˽͞ͻ͌ᩆ ᜨลᬠɹμɴȿʰʶɛ˹͑͠ͻˏᡄکࠇڊЦɹՏɐ̶ˎ̜ͩͻ⏃ࡴ⏋fatwā⏆ɴʚɭʠ ʰʶɩȦʳ⏏ ɗɹʭȩɲዐˁᐁɩԗ෯፷ɇʶɛᩆᜨଝɹБᝠёɭɌɩɻ⏋͌̋ͻ̫͞ߕᏝ⏋͌˹͑ͻ ͞ˡߕᏝ⏋͌͞ͻ̫̩ߕᏝ (murāba.hah) ȵ୲Ɂʰʶʳ⏏36) Ʉʶʰɹᩆᜨଝɻ⏋ɴ˓˽͞ͻ ͌ᩆᜨลᬠɴȲȿʳήѵ֭ʦ؝ѵ֭ɴȲȦɩᅎȦʰʶʳɞȿɫɲȼ⏋˓˽͞ͻ͌ᩆᜨลᬠ ɹጓʦۊɴȲȦɩʢᅎȦʰʶɩȲʱ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɭɻ⏋Ʉɹʭȩɲᩆᜨଝ 34) մᓔɹՠໆˁᓒ࢘ɌɛʢɹɭɌɩ [Sponeck 1994]⏋ᓔɹࢠჿɹዐɹᏳˁ៨ɌɛʢɹɭɌɩ [Usmani 2001] ȵ ȡʳ⏏ 35) ɄɹဣɴɦȦɩɻ⏋˓˽͞ͻ͌μγرࢃɹ Udovitch ȵ⏋18 γᏛɹץɽʚɫ˓˽͞ͻ͌γᅠɴɻ⏋ᩆᜨลᬠȵɲ ȦɭɄʸɴɻᩆᜨɹลᔨɻɲȦ⏋ɭςɌɛᐁཕرࢃɹ De Roover ɴࢪɌɩؙᠶɌɩȦʳ [Udovitch 1979: 255]⏏
ɹᩂࣝᇕɲᩂɲʱɴʭɤɩଁጓɌɩȦʳɭៜɤɩʢʭȦ⏏37) Ɍɛȵɤɩ⏋ჼБ˓˽͞ͻ͌ᩆ ᜨɴȲȦɩᩆᜨଝɭɗɹທкɫȡʳ˓˽͞ͻ͌ɹߕᏝჿᠶɴᇿɐʳɄɭȵȷʼʠɩᩂឹ ɲઝ٢ˁ୫ɦɄɭȵჿៗɇʶʭȩ⏏ ˓˽͞ͻ͌ȴʰɹˏ̺ͦͻ̍ɴʭʳድɫɻ⏋ɄɹʭȩɲჼБ˓˽͞ͻ͌ᩆᜨɫᅎɇ ʶɩȦʳᩆᜨଝɴᇿɌ⏋մᦏБɹ˓˽͞ͻ͌ɹߕᏝჿᠶȵჼБ˓˽͞ͻ͌ᩆᜨɴɰɹʭ ȩɴ᧟ᅎɇʶɩȦʳȴɴɦȦɩᓒ࢘Ɍɛʱ⏋ɗɹ᧟ᅎɹዐɴȲȦɩ⏋ߕᏝჿᠶȵɰɹʭȩɲ ԗៗᨾʦჿᠶɹᯊృȵʼʶɩȦʳȴɴɦȦɩද២ɌɩȦʳ⏏ մᓔɴɦȦɩɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴɦȦɩᠶɍɛʓɭ˃ɰɹయɴЂɇʶɩȦʳȵ⏋ ᐨᒧᇕɲʢɹɭɌɩɻ⏋๖ɹʭȩɲయȵ୲Ɂʰʶʳ⏏ɛɭȭɽ⏋˓˽͞ͻ͌ᐁཕᅠɹᩂ ɫȡʳ Siddiqi ɹᘿс⏃႕ɴ⏋[Siddiqi 1983; 1985]⏆ɻ⏋͌̋ͻ̫͞ߕᏝɭ͌˹͑ͻ͞ˡߕᏝ ɴɌȼ⏋ȼɹయɴȲȦɩჼБ˓˽͞ͻ͌ᩆᜨɹଝৄȷɭɌɩգᅎɇʶɩȦʳ⏏Usmani [2000] ɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɫᅎɇʶɩȦʳʓɭ˃ɰɹᩆᜨଝɴɦȦɩ⏋ߕᏝɹᬖࠃ ȴʰᏺϛʚɫɹᬚɴ୫ɠΫȵʳᡉᠶဣɴɦȦɩɹЂˁɤɩȦʳ⏏ʚɛ⏋̩͌Ͳ͇̝̫ͻ ˥̒͡⏮˵̝͡ɹȏံգࡎ᪃ᠶȑɻ⏋˪˗˙ͻ̶̜ˎ˓̠Ͳ˽̩˗˽ɹឹᠱɴਃɤɩ ᘿɇʶɛʢɹɫ⏋ᩆᜨଝɹհȴʰᩆᜨ֭ɹᏳᨆɴᕸʳʚɫȷʼʠɩࡸᤋᇕɲᠦ౩ȵȡ ʳ⏏38) Υ⏋ᓔɹʭȩɲմᦏБɹ˓˽͞ͻ͌ɹߕᏝჿᠶȴʰɹࢅɴመᇿɌɛድɭɌɩɻ⏋ [Ray 1995; Saeed 1999] ȵ୲Ɂʰʶʭȩ⏏[Ray 1995] ɻ⏋մᦏБɹ˓˽͞ͻ͌γᅠɴȲȿʳ͌ ̋ͻ̫͞ߕᏝ⏋͌˹͑ͻ͞ˡߕᏝ⏋͌͞ͻ̫̩ߕᏝɹ 3 ɦɹߕᏝȵჼБ˓˽͞ͻ͌ᩆᜨɴ᧟ ᅎɇʶʳɴȡɛɤɩᡴᠶɭɲɤɛဣɴɦȦɩ⏋˓˽͞ͻ͌ᩆᜨลᬠȵɰȩࢪՃɌɛɹȴɭȦȩ ࡸᤋᇕɲែဣȴʰ⏋˓˽͞ͻ͌ᩆᜨลᬠɹՏɌɛ̶ˎ̜ͩͻˁᅎȦɩ⏋ɗɹᠶဣˁʚɭʠɩȦ ʳ⏏ʚɛ⏋[Saeed 1999] ɫɻ⏋[Ray 1995] ɭؾɴմᦏБɭჼБɹປᥒˁȦ⏋ჼБ˓˽͞ͻ ͌ᩆᜨɴȲȦɩࡸᤋɇʶɩȦʳᩆᜨଝȵ⏋ɗʶˁʱॎȼᄩޅɴʭɤɩմᦏБɹߕᏝჿᠶ 36) ͌̋ͻ̫͞ߕᏝɭɻ⏋ߕᏝয়ϟᓔɹႅȵᣂೣˁரњɌ⏋ʢȩႅȵࡸ᭬ɹϟˁȩϟߕᏝɹ০িɫȡʳ⏏ ϟȴʰɹգᇰɻȡʰȴɍʠໆʠʰʶɛւغɫՕᨗɇʶʳ⏏Υ⏋ா߉ȵᇍᅊɌɛݭغɻ⏋ᣂೣரњᓔɻ⏋ரњ Ɍɛᣂೣɹ፴ܑԒɫᣂᩆΫɹா߉ˁৄȷ؝ȿʳ⏏ɗɌɩ⏋ϟᓔɻ⏋ϟɴହԂɌɛᕶʰɹ֝ˁᢦɌ⏋ɗɹ ࢪѝɭɌɩɹݬᨢʢʰʶɲȦ⏏ʚɛ⏋ϟᓔɻரњɇʶɛᣂೣГΫɹா߉ˁᇍᅊɇɓɛݭغɻ⏋ɗɹᣳՕɹ ா߉ʢৄȷ؝ȿʳɄɭɴɲʳ⏏͌˹͑ͻ͞ˡߕᏝɻ⏋˓˽͞ͻ͌ᩆᜨลᬠɹՏᣂɐʳᣂೣʦ⏋ЈɹН⏋҅Ϻɹ ᣂೣˁьɤɩହᣂˁȩ̮ͻ̜̠ͻ˹̺̒ߕᏝɫȡʳ⏏ɐʏɩɹՏᣂᓔɻ⏋ϟɴؒᅙɐʳᣂൔˁ୫ɦɄɭȵɫ ȷʳ⏏ϟȴʰɹգᇰɻ⏋ȡʰȴɍʠໆʠʰʶɛւغɫՏᣂᓔɹᬚɫՕᨗɇʶ⏋ா߉ɻՏᣂɹւغɫعՏᣂᓔȵ ৄȷ؝ȿʳɄɭɴɲʳ⏏͌͞ͻ̫̩ߕᏝɻ⏋᥊ެϺɭɗɹᰘࡹɹᬚɫᐄɽʶʳߕᏝɫ⏋᥊ެϺȵፀΪᓔȴʰᣘԂ ɌɛڧڃɴࢪɌɩᕶʰɹգᇰˁΫώɓɌɛѝൔɫᰘࡹɴࢪɌɩެɐʳʢɹɫȡʳ⏏БᩆɹఌଡȦɻ⏋ᑵʱযʏ ଡȦʦՕւଡȦɴʭɤɩʼʶʳɄɭȵȦ⏏ 37) ɛɭȭɽ⏋˓˽͞ͻ͌ᩆᜨลᬠɹጓʦۊɻ⏋͌˹͑ͻ͞ˡߕᏝɴʭɤɩʼʶʳɄɭȵȦ [Siddiqi 1983: 15-18]⏏ 38) ȏံգࡎ᪃ᠶȑɴɦȦɩɻ⏋ .Sadr 1977; ˵̝͡ 1994ˁؒ၇Ɍɛ⏏
ɴɰɹʭȩɲѹˁేɌɩȷɛȴɴɦȦɩද២ɌɩȦʳ⏏θᓔɹድɴԊᦲɐʳ႕ਐɻ⏋ر ᇕɲປᥒˁȼઝᡫɌɩȦʳဣɫȡʱ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹ˹˽̘͌ȵɰɹʭȩɴ෯፷ɇʶ ɩȷɛɹȴɴɦȦɩɹ֪ᇕɲ̺ͦ́˽ˁ݄ᬚឿʳɄɭȵɫȷʳɭȦȩဣȴʰ߂ኍڗᇕɫȡ ʳ⏏ Υ⏋ᦏॷᇎݭɌɩȷɛృɌȦᩆᜨଝɹද២ˁي˃ɞʢɹɭɌɩɻ⏋̩ͻ̫ͻ̝߂ɹ μആድ́Ͳ̊ͻȲʭʃ̩ͻ̫ͻ̝ͦͻ˽˪ͻ͡ɫ 1995 ॷȴʰᦹᐚᇕɴʼʶɩȦʳ˓˽ ͞ͻ͌ᩆᜨ̺ͦ˻˙˪̜ (Islamic Finance Project, IFP) ɴȲȿʳ՟ೝɹଁഗˁʚɭʠɛ [Vogel and Hayes 1998] ȵȡʳ⏏ɗɄɫɻ⏋͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝ⏋͌͞ͻ̫̩ߕᏝʦ ̫͠ͻෙਥɭȦɤɛჼБ˓˽͞ͻ͌ᩆᜨȵᇎݭɌɛɭȷȴʰࡸᤋɇʶɩȦɛᩆᜨଝɹᓒ࢘ɴ ֓ȭɩ⏋Ӵ႒ৄʦӁժৄɲɰɹృɌȦᩆᜨଝȵ⏋ɰɹʭȩɲ˓˽͞ͻ͌ɹߕᏝჿᠶɴ ʭɤɩͤ˻̘ˑ͇˹ͻȵήȭʰʶʳɹȴɴɦȦɩɹᓒ࢘ȵʼʶɩȦʳ⏏ 3.2̙ॳേҔҩә̴Ӑࣜᄧњन৻ᅩ ፀ 2 ɴ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȿʳᐁཕغჿਸɹکᰍȵ୲Ɂʰʶʳ⏏ɄɄɫɹᐁ ཕغჿਸɹ୭ฌɻ⏋ᣂ྇գᅎɹ֟რਸɭ⏋ɗʶɴʢɭɧȼؚᇰɹ߂ɫȡʳ⏏ჼБ˓˽͞ͻ ͌ᩆᜨɹࡸᤋȵ⏋˓˽͞ͻ͌ᩆᜨลᬠɭȦȩНкɹ০ˁɭɤɩȦʳГΫ⏋ಔᦲᩆᜨลᬠɭؾ ɴ⏋ؚᇰਸɹكΫɭᣂ྇ɹ֟რᇕɲ༎ᅎȵິʠʰʶʳɄɭɻয়းɫȡʳ⏏Υᨆɫɻ⏋ჼБɹ ˓˽͞ͻ͌ᩆᜨɻ⏋1970 ॷБГᭇɹ˓˽͞ͻ͌ᖂ֪ɹᢒਐᇕɲࡔܧɫȡʱ⏋ᩆᜨลᬠɹ ႶጓɌɛؚᇰრˁែɌɩɫʢ⏋˓˽͞ͻ͌ɹჿਥɹࡸჼɭɌɩɹࡔܧઝᒶȵȡʳɹɞɭ ɹᓒȭʢȡʳȵ⏋39) Υᖔᇕɴ˓˽͞ͻ͌ᩆᜨลᬠɻ⏋ؚᇰਸɹکᰍɴࢪɌɩȴɲʱచઢɫȡʳ⏏ ɛɭȭɽ⏋͌̋ͻ̫͞ߕᏝɴʭʳᣂᩆɹரњӴɹϟɴɦȦɩɹؚᇰਸɹ̍˙̒˪ɻᰈᑢɴ ʼʶ⏋ؚᇰਸȵʉʚʶʳݭغɴɻ⏋এɴᣂᩆɹரњˁଠɠՖʳɭȦɤɛɄɭȵʼʶɩȦ ʳ⏏40) ɄɹɄɭɻ⏋ȼɹ˓˽͞ͻ͌ᩆᜨลᬠȵ⏋ಔᦲᩆᜨลᬠɭປʏɩృᖂֳɫȡʱ⏋ʭ ʱʭȦؚᇰਸɹࡸჼɴʭɤɩᐁۊˁ᥄᧑ɴώɓ⏋ȼɹృៀᰘࡹˁკɌɲȿʶɽɲʰɲȦɭ ȦȩϟɭံᑉɫɻɲȦ⏏ʚɛ⏋ᐁۊɹ֟რਸɴɦȦɩʢ⏋ಔᦲᩆᜨลᬠɭؾɴઝˁଡɤ ɩȦʳ⏏ɄɹɄɭɻ⏋́ͻ͌̿ͻ˻ɴʭʳॷ๖ͤͅͻ̜ɲɰɹȼɹᢧ֭ݬȵԇᬖɇʶɩȦ ʳɄɭʦ⏋AAOIFI ɴʭʳЦݜྈɹᐏΥɴʭʳᐁۊɹᦩ౩ਸɹተѳȵܒʰʶɩȦʳɄɭɲɰ ȴʰៜȭʳɄɭɫȡʳ⏏ Ʉɹʭȩɲᐁཕغჿਸɴࢪɐʳᨗૅɹᐄഗ⏋ᐁཕᇕɲ̶̮˝ͻ͇Ͳ˽ɴɦȦɩʢȲȲʞɷ 39) 1998 ॷɴ̋͜͡Ͳɫጓɇʶɛˏ̸͞˓˽͞ͻ͌᪃ˁʠȽɤɩɻ⏋1980 ॷБץɹؾܕɫɹ˓˽͞ͻ͌ହ ᣂЦɹ߉ఞɴʭɤɩ⏋˓˽͞ͻ͌ᩆᜨɹؚᇰਸɴࢪɌɩᆄکȵ୫ɛʶɩȦɛ⏏ɌȴɌ⏋˓˽͞ͻ͌ɹჿਥɹࡸ ჼˁᩂែɐʳުȵ⏋ɗɹጓˁ߂ȷȼେɌɌɛɭᓒȭʳድʢȡʳ [Malley 2004]⏏ 40) Ʉɹёɻ⏋2004 ॷ 9 ɴ⏋ፆᓔȵ˛˻̶̺̜ˎ˓˵͡˓˽͞ͻ͌᪃ˁʶɛɭȷɴ⏋ঃݬᨆտᨆᬏɫȡʳ Abdel Halim Ahmed ລʭʱЯɤɛʢɹɫȡʳ⏏
ᖪ߫ɲధғˁɐᩆᜨลᬠȵȼឿʰʶɛ⏏Iqbal ɭ Molyneux ɻ⏋ᐵᣂᅋգᇰრ (Return on Total Asset, ROA) Ȳʭʃൎςᣂೣգᇰრ (Return on Equity, ROE) ɴɦȦɩ⏋γᅠɹᩆᜨลᬠ
ɹ 1000 ɹॶܯɭ⏋ៀฐɹ߂ȷȦ˓˽͞ͻ͌ᩆᜨลᬠ 12 ɹॶܯˁປᥒɌɩȦʳ⏏41) ɗʶ ɴʭʳɭ⏋ROA ɴɦȦɩɻ⏋1990-96 ॷॶܯ⏋1996-2002 ॷॶܯ⏋1990-2002 ॷॶܯɹȦɑ ʶˁປᥒɌɩʢ˓˽͞ͻ͌ᩆᜨลᬠɹॶܯғɹȵΫ܌ɤɩȦʳ⏏42) Υɹ ROE ɴɦȦɩɻ⏋ ȦɑʶɴȲȦɩʢγᅠɹᩆᜨลᬠɹ1000ɹॶܯғɹȵΫ܌ɤɩȦʳ⏏43) ROA ɴɦȦɩʢ ROE ɴɦȦɩʢθᓔɹेɻʼɑȴɫȡʳɄɭȴʰ⏋˓˽͞ͻ͌ᩆᜨลᬠȵಔᦲᩆᜨลᬠɭɗ ɹᐁཕغჿਸɴɦȦɩמՕɴСɌɩȦʳɄɭȵʼȴʳ⏏ ГΫˁᤑʚȭɛ০ɫ⏋ᐁཕȴʰɹˏ̺ͦͻ̍ɫɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹѝˁ ̚ͻ̊ɴʭɤɩѝɐʳɭȦȩࡸ៷ድ [Iqbal and Molyneux 2005] ɹʓȴɴ⏋˓˽͞ͻ͌ ʍɹ᧟غਸɭȦȩըᏝИɹάɫ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩࡸᤋɇʶɩȦʳᩆᜨଝˁ ɰɹʭȩɴ̚˸˓ͲɐʳɄɭɴʭɤɩ⏋ʚɌȦ֟რਸʦؚᇰਸˁࡸჼɫȷʳɹȴɭȦȩჿ ᠶᇕɲድɴʢ့ဣȵȡɛʱɻɍʠɩȦʳ⏏Ʉɹʭȩɲˏ̺ͦͻ̍ɻ⏋ᦏБᐁཕɴȲȿʳ ݬɹᐁཕʦᩆᜨूɹʭȩɲድ᯿ݖɴࣚɐʳʢɹɫȡʳȵ⏋ɗɄɫɹݬɹᯃࢪዌਸʦߕ ᏝɹέҺਸˁմரɭɌɛᩆᜨߕᏝɹ֟რᇕɲ͍ˡ̢̀͌̚˸˓ͲɴɦȦɩɹՕഓଝȵჼ Б˓˽͞ͻ͌ᩆᜨɴȲȿʳᩆᜨଝɹᓒ࢘ɴʢਝᅎɇʶɩȦʳ⏏ɛɭȭɽ⏋[Mills and Presley 1999]ɫɻ⏋ᩆᜨลᬠȵ̺ͦ˻˙˪̜ɴՏᣂˁɐʳʭȩɲᩆᜨߕᏝ⏃͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ ͞ˡߕᏝ⏆ɴȲȦɩ⏋ɰɹʭȩɲՏᣂᰎȵϟᓔɹ̩͐͞͡˸ͻ̝ˁᬿȹ⏋֟რᇕɲ֗ອ ྈˁࢷȷՏɓʳȴɴɦȦɩ⏋ݬɹᐁཕɴȲȿʳ̺͠Ͳ˹̮͡˛ͻ˻˙Ͳ̜͐̚͡ˁᅎȦ ɩՕഓɌɛʱ⏋ɗʶʰˁգࡎЊȷᣂᩆᠭ᧒ɹݭغɭປᥒɌɛʱɐʳድȵʼʶɩȦʳ⏏
4̝ॳേҔҩә̴Ӑࣜᄧड़ࢂѠёѳѠᇰೌѱ
ೣ፲ɫɻ⏋ГΫɹࡸᤋΫɹᠩᰍɹரኍɭɗʶɴࢪਝɐʳድ֪كɹʚɭʠˁᤑʚȭɩ⏋ɗʶ ʰɹድ֪كɴࢪɐʳଫՠᇕද២ˁȩ⏏ɗɌɩ⏋ɗɹʭȩɲଫՠᇕද២ˁʢɭɴɌɩ⏋ჼБ ˓˽͞ͻ͌ᩆᜨɹࡸᤋˁ׃ୠᇕɴȭʳɛʠɹՕഓങᏼʛˁரኍɐʳ⏏ 4.1̙ᅔѠड़ࢂѝലыѽཹནฦৡੱ ਃഀɹድɴࢪɌɩɻ⏋๖ɹ 2 ဣɴࢪɌɩଫՠɐʳɄɭȵخᔨɫȡʳɭᓒȭʳ⏏ፀ 1 ɻ⏋ ೣഀ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȦɩᝠគΥкɫȡʳɻɑɹ 2 ɦɹᠩᰍɴࢪɌɩ⏋ᅵɲ41) Гάɹధғɻ⏋[Iqbal and Molyneux 2005: 79-80] ˁؒ၇Ɍɛ⏏
42) 1990-96 ॷ⏋1996-2002 ॷ⏋1990-2002 ॷɹγᅠɹᩆᜨลᬠɹΫе 1000 ɹ ROA ॶܯɻɴ⏋1.0⎾⏋1.1⎾⏋ 1.0⎾ɫȡʳ⏏Υ⏋˓˽͞ͻ͌ᩆᜨลᬠɹ 12 ɹ ROA ॶܯɻ⏋1.63⎾⏋1.29⎾⏋1.47⎾ɫȡʳ⏏
43) 1990-96 ॷ⏋1996-2002 ॷ⏋1990-2002 ॷ ɹ γ ᅠ ɹ ᩆ ᜨ ล ᬠ ɹ Ϋ е 1000 ɹ ROE ॶ ܯ ɻ ɴ⏋15.7⎾⏋ 14.4⎾⏋14.9⎾ɫȡʳ⏏Υ⏋˓˽͞ͻ͌ᩆᜨลᬠɹ 12 ɹ ROE ॶܯɻ⏋15.33⎾⏋13.13⎾⏋13.83⎾ɫȡʳ⏏
ʳᠶᇕɲˏ̺ͦͻ̍ȴʰɹաǾɹᓒ࢘ȵʼʶʳɞȿɫ⏋ɗʶʰˁࡸᤋᇕɲឹᠱɴਝɍɩ ᐵغɐʳɄɭȵɲȴɤɛɭȦȩဣɫȡʳ⏏ፀ 2 ɻ⏋عˏ̺ͦͻ̍ɴȲȿʳჿᠶᇕɲᓒ࢘ɴȲ ȦɩჼБ˓˽͞ͻ͌ᩆᜨˁෑɴୈᢒɌɛɄɭɫ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȿʳ ਸʦܩݖᇕɲेᅵȵឿȭɴȼȼɲɤɩɌʚɤɛɭȦȩဣɫȡʳ⏏ ፀ 1 ɹဣɴɦȦɩɻ๖ɹʭȩɴᠦ౩ɫȷʳ⏏ɐɲʼɠ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩɻ⏋ ˓˽͞ͻ͌ɹఠᒶʍɹ᧟غਸˁྃɛɌ⏋ɗɌɩ⏋ᐁཕغჿਸɴʢɭɧȦɛؚᇰਸɭ֟რਸɹተ ѳȵິʠʰʶʳɄɭˁմ፲ɫឿɩȷɛ⏏Ʉʶʰɹ 2 ɦɹᠩᰍɻ⏋ࡸ᭬ɴɻ⏋ա҅ɹ˛ͻ˻˙ Ͳ̜ȵɗʶəʶៗໆɐʳʭȩɲʢɹɫɻɲȼ⏋˓˽͞ͻ͌ᩆᜨลᬠɭȦȩؾΥɹ˛ͻ˻˙Ͳ ̜ȵؾಁɴៗໆɌɲȿʶɽɲʰɲȦʢɹɫȡʳ⏏ɭɄʸȵ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁࢪᢒɭɌ ɛድɴȲȦɩɻ⏋2 ɦɹᠩᰍɹθጓخᔨਸɭȦȩࡸᤋɹȩȭɫɹᩂឹɲکȦɻඖΫɁɴɇʶ ɩ⏋عˏ̺ͦͻ̍ȵᩂឹɫȡʳɭᓒȭʳᠩᰍɴࢪᢒˁᐈɤɩᓒ࢘ȵʼʶɩȷɛ⏏ɐɲʼɠ⏋ ˓˽͞ͻ͌ɹˏ̺ͦͻ̍ɴȲȦɩɻ⏋ߕᏝჿᠶȵ˓˽͞ͻ͌ɹͤ˻̘ˑ͇˹ͻˁᐣ୫ Ɍɲȵʰ⏋ɰɹʭȩɴჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩᩆᜨଝɭɌɩ᧟ᅎɇʶɩȦɤɛȴˁᦠȩ ɄɭɴࢭਥɌɩȲʱ⏋ɗɹʭȩɴɌɩ᧟ᅎɇʶɛᩆᜨଝȵ⏋ᐁཕᇕɲࡸ֟ਸˁɌɩȦʳɹ ȴɴɦȦɩɹᠶ៷ɻʓɭ˃ɰɲɇʶɩȦɲȦ [Khan 1989: 126]⏏ɛɭȭɽ⏋Tariqullah Khan ɭ Chapra ɻ⏋͌̋ͻ̫͞ߕᏝȵ⏋˓˽͞ͻ͌γᅠɹЦᇕɲգɹވᦽˁѦɐʢɹɫȡʳɭᦚ ʏɩɻȦʳȵ [Khan and Chapra 2000: 10]⏋ɗʶȵɰɹʭȩɲ͍ˡ̢̀͌ɴʭɤɩգɹވᦽ ɴࢊήɐʳɹȴɴɦȦɩɹᠶ៷ɻʼʶɩȦɲȦɹɫȡʳ⏏ Υ⏋ᐁཕɹˏ̺ͦͻ̍ɴȲȦɩՕഓɇʶʳᩆᜨଝɻ⏋ɐɫɴ˓˽͞ͻ͌ɹˏ̺ ͦͻ̍ɹᎀˁᦲɌɛʢɹɹʛˁᐁཕɹჿᠶˁஹᅎɌɩ͐̚͡ɐʳɞȿɫȡʱ⏋˓˽͞ͻ ͌ʍɹͤ˻̘ˑ͇˹ͻɭȦȩঃȦИˁըᏝИɭɌɩ⏋ᐁཕᇕɲՕഓȴʰʚɌȦᩆ ᜨଝɹர൜ˁɐʳɭȦȩዩෑਸɻឿʰʶɲȦ⏏ɗɹɛʠ⏋ణȭɩ˓˽͞ͻ͌ɭȦȩങᏼʛɫ ʢɤɩՕഓˁȩઝ٢ȵϋɌȼɲʱȵɠɫȡʳ⏏Ʉɹʭȩɲᐁཕɹˏ̺ͦͻ̍ɴȲȿʳ؝ȿ ᤹ᇕɲࠒֳɻ⏋๖ɹʭȩɲჼБ˓˽͞ͻ͌ᩆᜨɹႶᕶਸˁᆄکែɐʳ؏ɌȦଫՠɴʢɦɲȵɤ ɩȦȼ⏏ɐɲʼɠ⏋ჼБ˓˽͞ͻ͌ᩆᜨɻ⏋ᣂೣςᒶ˹˽̘͌ɹ᧑ԍɴȹɲȦɹɫȡʱ⏋ృ ɛɲᐁཕዊইˁՖʱᬖȼʭȩɲʢɹɫɻɲȦɭᦚʏɩȲʱ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁጩᐷɭɌ ɛᐁཕɹ˓˽͞ͻ͌ரڟɻ⏋ؤӴɞȿɹ̜ͤ̒͠˪ɫȡʳɭȦȩʭȩɲଫՠɫȡʳ [Roy 1994: 144]⏏ ፀ 2 ɹဣɴɦȦɩɻ⏋ᐁཕ͐̚͡ɹୈᢒʍɹਚكਸɹȦᐁཕɹˏ̺ͦͻ̍ɞȿɫɲ ȼ⏋˓˽͞ͻ͌ɹˏ̺ͦͻ̍ɴȲȦɩʢჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȿʳਸʦܩ ݖᇕɲेᅵɹஅᢒȵʼʶɩȦʳ⏏˓˽͞ͻ͌ȵ⏋ɗɹμਕᇕɲᨆՕʚɫʢȵرᇕɴ෯፷ ɇʶɩȷɛʢɹɫȡʳɭȦȩ Schacht ɹᠦ [Schacht 1964] ɹ֟ਸɹද២ɴᤑʛᦉʚɲȼɭ ʢ⏋˓˽͞ͻ͌ȵܩݖᇕɲીᓃɭɹᬠѥɹμɫ༐ȵ০ଁɇʶ⏋ɗʶȵ˓˽͞ͻ͌ɹៗ
ᨾɹࢅɴ৯ᯱˁήȭɩȷɛɄɭɻተȴɫȡʳɭȦȭʳഽย 1998: 296-298⏏Ɍɛȵɤɩ⏋ ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȦɩʢ⏋ɗʶȵࣙᬖɇʶʳܩݖᇕɲીᓃʦ⏋ɗɹܩݖɴ৯ᯱɹ ȡʳ༐ɴʭɤɩ৯ᯱˁ؝ȿʳɻɑɫȡʳ⏏ɌȴɌ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȿʳᩆᜨଝ ɹᓒ࢘ɴȲȿʳܩݖᇕɲेᅵʍɹៜؖɻዎɫȡʳ⏏ɦʚʱ⏋˓˽͞ͻ͌ᩆᜨลᬠؾަɹ̶ˎ̜ ͩͻɹेᅵɴɦȦɩɹ୭ɻȡʳʢɹɹ⏋ɗɹेᅵȵлɴᅓഀɌɩȦʳȴɴɦȦɩɹៜؖȵɲ Ȧ⏏ɛɭȭɽ⏋Ray ɻ⏋͌͞ͻ̫̩ߕᏝȵɹȡʳߕᏝɫȡʳȴوȴɴɦȦɩ⏋ɗʶˁ ɹɲȦߕᏝɭɐʳឿៗɭɹȡʳߕᏝɫȡʳɭɐʳឿៗˁιᒞɇɓɩȦʳȵ⏋ɗɹे ᅵȵɲɕᅊʚʶɩȦʳɹȴɴɦȦɩɹᓒ࢘ɻɤɩȦɲȦ [Ray 1995: 51-54]⏏ Ʉɹʭȩɲჿᠶɴʭʳɲࡸᤋ০ɹவɭɗɄȴʰɹჿᠶᇕɲද២ȵॕᚚɫȡʳᔘಕɴ ɻ⏋ܩݖɹμɹჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɭȦȩែဣȴʰɹድȵᝠࣝᇕɲͤ̾͡ɴɭɰʚɤ ɩȦʳɭȦȩဣʢ৯ᯱɌɩȦʳɭᓒȭʰʶʳ⏏ɐɲʼɠ⏋ɗɹʭȩɲែဣȴʰჼБ˓˽͞ͻ͌ ᩆᜨˁȭʳਃഀɹድɫɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡔܧɻ⏋ܕʦܩݖɹకᐁཕЦᇕɲ֪ ɹμɹ 1 ɦɹ̶ˎ˪̊ͻɭɌɩеᒞɧȿʰʶɩȲʱ⏋˓˽͞ͻ͌ᩆᜨลᬠɭЈɹ̶ˎ˪̊ͻ ɭȦɤɛʭȩɴᬠѥᠶᇕɲᓒ࢘ȵʼʶʳɴɭɰʚɤɩȦʳɹɫȡʳ⏏ɛɭȭɽ⏋[Henry and Wilson 2004] ɫɻ⏋˽ͻ̋Ͳ⏋˪˗˙ͻ̜⏋̋͜͡Ͳ⏋̜͡˱⏋̢͖̍˻ˏ⏋˛˻̺̜ɴȲ ȿʳჼБ˓˽͞ͻ͌ᩆᜨɭ⏋ɗʶɴᬠѥɐʳ˓˽͞ͻ͌ᖂ֪ʦቄໞ˹͚̒˪ɲɰɹܕԒ ɹకᐁཕᇕɲ֪كɭɹᬠѥਸˁμਕɭɌɛᓒ࢘ˁɤɩȦʳ⏏ʚɛ⏋[Warde 2000] ɻ⏋̮ ˥˽̊Ͳ⏋˓͞Ͳ⏋˽ͻ̋Ͳ⏋͇ͤͻ˹ˏ⏋̫̩ͤͻͲɴȲȿʳܕࢃɹకፑɭჼБ˓˽͞ͻ ͌ᩆᜨɭɹᬠѥˁᦠɤɩȦʳ⏏Ʉɹʭȩɲᓒ࢘ɹᩂឹਸɻ⏋ɄɄɫɹଫՠɴʭɤɩࢹɌʢཝɍ ʰʶʳɄɭɻɲȦȵ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋˁఌȭʳჿᠶɹܩݖᇕेᅵˁᠶ៷ɐʳɛʠɴ ɻ⏋ɗʶʰɹɇʚɊʚɲకᐁཕЦᇕɲ֪ɴʭɤɩჼБ˓˽͞ͻ͌ᩆᜨɴȲȿʳࡸᤋɹȡ ʱᕶкɴɰɹʭȩɲ৯ᯱˁήȭɩȦʳɹȴɴɦȦɩɹᓒ࢘ȵਖឹɫȡʸȩ⏏ 4.2̙ॳേҔҩә̴Ӑࣜᄧड़ࢂѠёѳѠᇰೌѱ ГΫɫឿɩȷɛଫՠᇕද២ˁᤑʚȭɛȩȭɫ⏋ဤɐʏȷɄɭɻлɫȡʸȩȴ⏏ɗʶɻ⏋ʚ ɑჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹਸˁ᠗ᡫɐʳɄɭɫȡʳ⏏Ʉʶʚɫɻ⏋˓˽͞ͻ͌ʍɹ᧟ غਸɭᐁཕغჿਸɹθጓخᔨਸɴᤑʛᦉʞድɹέܧʦ⏋ɗʶəʶɹˏ̺ͦͻ̍ɴȲȿʳෑ ɹჿᠶਚكɹɛʠɴ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹ႕ਐˁ⏋ɗʶʰɹɰɠʰȴɹˏ̺ͦͻ̍ȵᩂែ ɐʳүᯆɴᐈɤɩᠶɍʰʶʳɄɭȵȴɤɛ⏏ɗɹɛʠ⏋γᅠμɴঃȼࣙᬖɌɩȦʳჼБ˓˽ ͞ͻ͌ᩆᜨɹࡸᤋȵ⏋ɗʶəʶɹܩݖɹకᐁཕЦᇕɲ֪ʦ˓˽͞ͻ͌ɹܩݖᇕेᅵɴਝ ɍɩ⏋ɲࡸᤋ০ȵࡔܧɐʳɄɭˁȭாɷɩȦɛ⏏ɗɹʭȩɲድɹჼႥˁᤑʚȭɩ⏋ ೣዣɫɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁʱॎȼܩݖɹకᐁཕЦᇕɲ֪ʦ˓˽͞ͻ͌ɹܩݖᇕ ेᅵˁவɐʳܩݖਸɭȦȩؒ၇᥍ˁȿʳɄɭɫ⏋Ʉɹܩݖਸɭɹሂϣᬠѥɴʭɤɩɗʶə ʶɹ˓˽͞ͻ͌ᩆᜨลᬠɴȲȿʳ˓˽͞ͻ͌ʍɹ᧟غਸɭᐁཕغჿਸɹɗʶəʶɹᦠິɹغ
Ȧȵໆࡴɇʶ⏋ɗʶȵჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹਸɴɦɲȵʳɭᓒȭʳ⏏ГΫɹʭȩɲ ܩݖਸˁᓒૅɌɛჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹਸˁܒኍɐʳɭ⏋ܒ 1 ɹʭȩɴɲʳ⏏44) ɗɌɩ⏋ɄɹܩݖਸˁᓒૅɌɛჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹਸˁவɐʳԍкᇕɲଝ ȵȴʱɭɌɩ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩᅎɇʶɩȦʳᩆᜨଝɹेᅵɴመᇿɐʳɄɭȵ ᩂឹɫȡʳɭᓒȭʳ⏏ɐɲʼɠ⏋˓˽͞ͻ͌ᩆᜨลᬠɹጓಁɴȲȦɩ⏋ȡʳᩆᜨଝȵɲɕ ᅎɇʶɛɹȴɴɦȦɩʦ⏋ɗʶГᭇɹᩆᜨଝɹգᅎᰈɹ᧦ɹឹ܍⏋ȡʳȦɻృɛɲᩆ ᜨଝɹᬖᇍɹዐˁ⏋ܩݖਸ⏋˓˽͞ͻ͌ʍɹ᧟غਸ⏋ᐁཕغჿਸɹ 3 ɦɹᬠѥਸɹμɫ ᓒȭʳਖឹȵȡʳɭᓒȭʳ⏏ᩆᜨଝɹգᅎᰈɴɦȦɩɻ⏋ࡸ᭬ɹ̚ͻ̊ˁឿɩʛʳɭ⏋˓ ˽͞ͻ͌ᩆᜨลᬠɴʭɤɩᩆᜨଝɹգᅎᰈɴɻ߂ȷɲेᅵȵࡔܧɐʳɄɭȵʼȴʳ⏏45) Ȧ ȼɦȴɹ˓˽͞ͻ͌ᩆᜨลᬠɹᩆᜨଝɹᰈˁᜨᣂɹүᯆɴᇿɌɩɗɹᜨᣂᰎɹւغɹ ߂ʚȴɲӃكˁឿʳɭ⏋ɛɭȭɽ⏋̝̫˓˓˽͞ͻ͌᪃ɫɻ⏋͌͞ͻ̫̩ߕᏝɹւغȵ 80⎾ˁᣳȭɩȦʳɹɴࢪɌɩ⏋͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝɹւغɻɗʶəʶ 3⎾ɴʢ ྃɛɲȦ⏏ʚɛ⏋̋͜͡Ͳ˓˽͞ͻ͌᪃ɫɻ⏋͌͞ͻ̫̩ߕᏝɹւغȵ 50⎾ˁᣳȭɩȲ ʱ⏋ᜨᣂɹ߂ᨆՕˁװʠɩȦʳɄɭɻ̝̫˓˓˽͞ͻ͌᪃ɭؾɫȡʳȵ⏋͌̋ͻ͞ ̫ߕᏝʦ͌˹͑ͻ͞ˡߕᏝɻʓɭ˃ɰᅎȦʰʶɑ⏋ȴʼʱɴᢧɹ͠ͻ˽ߕᏝɴᰖаɌɩȦʳ˓ ˻͑ͻ͞ߕᏝ (’ijārah) ȵ 50⎾ᦏȦւغˁკɌɩȦʳ⏏Υ⏋ᨆ˽ͻ̋Ͳ˓˽͞ͻ͌᪃ ɫɻ⏋͌͞ͻ̫̩ߕᏝɻ⏋20⎾ɫȡʱГΫɹ 2 ɭປʏɩԃкɴװʠʳւغȵࢸɇȦɹɴ ࢪɌɩ⏋͌˹͑ͻ͞ˡߕᏝȵ 60⎾ˁᣳȭɩȦʳ⏏ 44) ɄɹܒɭങᏼʛɴɦȦɩɻ⏋ആᬏ 2002ɴˁɛ⏏ 45) Гάɹ̚ͻ̊ɻ⏋[Dawābah 2003: 22] ɴᥔɇʶɩȦʳع˓˽͞ͻ͌ᩆᜨลᬠɹॷ๖ͤͅͻ̜ȴʰ፤Տɇʶɛధ ғˁؒ၇Ɍɛ⏏ ద1̙ॳേҔҩә̴ӐࣜᄧѠ૰ಭѠഡᄹ
ᩆᜨଝɹᅎʦɗɹ᧦ɴɦȦɩ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɹਸɹങᏼʛɹμɫ ԍкᇕɴɰɹʭȩɴȭɛʰʭȦɹɞʸȩȴ⏏ࡸᠭീɴʢɭɧȦɛද២ɻЁɹᠩᰍɫȡʳ ȵ⏋Гάɫɻɗɹ᭬ɴᓒૅɐʳʏȷဣˁ՞୲Ɍɩʛʳ⏏ ፀ 1 ɴ⏋ܩݖਸɭɹᬠѥɴȲȦɩɻ⏋ʚɑ⏋ᩆᜨଝɹିʦգᅎᰈɻɗɹܩݖɴȲȿ ʳᐁཕીʦᐁཕᇍࣙɹغȦɴ߂ȷȼ৯ᯱˁ؝ȿʳɄɭȵ୲Ɂʰʶʳ⏏ɛɭȭɽ⏋ཀྵɹ ݖˁՏɲȦȵ⏋̿͡˹ཱྀ͑ࣳᡉܕɻ⏋رᇕɴ༠ᢼ౫ˁɻɍʠɭɐʳڧȵᐁཕ༎֪ɹμ ਕᇕеᒞˁװʠɩȦʳɛʠ⏋ڧڃɹЇԂʶɹɛʠɹቁೝᇕɲᣂᩆᠭ᧒ɴكȦɩȦʳ͌͞ͻ̫ ̩ߕᏝȵ߫˃ɫᅎȦʰʶɛɭᓒȭʳɄɭȵɫȷʭȩ⏏Υ⏋˽ͻ̋Ͳɫɻ⏋ᦅᬖᇍɹɛʠ ɹ̺ͦ˻˙˪̶̜ˎ˓̠Ͳ˽ɹଝຍɭɌɩ͌˹͑ͻ͞ˡߕᏝȵᇿɇʶɩȦʳɭȦȩድ ݬٚ [Osman 1999] ȵȡʳΥɫ⏋ܕԒᐁཕɹҪྡྷɴʭʱ߂ៀฐɲቁೝᇕᣂᩆɹᮛឹɻࢸɇȦ [Stiansen 2004] Ʉɭȵ⏋͌˹͑ͻ͞ˡߕᏝɹւغˁዺՏɇɓɩȦʳɹɞɭᓒȭʰʶʳ⏏ʚɛ⏋ ըᇕɲങᏼʛɴʭʳըᏝɹکᰍȵ୲Ɂʰʶʳ⏏ɐɲʼɠ⏋գࡎɴћɌɲȦჼБ˓˽͞ͻ͌ ᩆᜨɻ⏋ɗʶȵጓɇʶʳܕʦܩݖɴȲȿʳᇕങᏼʛʦգࡎɴћɐʳᐁཕըɫɻɫ ȷɲȦʢɹɫȡɤɛ⏏ɗɹɛʠ⏋ȼɹ˓˽͞ͻ͌ᩆᜨลᬠɻ⏋႕աɹըࡴɭȦȩёᇕɲ ০ɫჼɹᇕങᏼʛʦᐁཕըɹμɴᏼʛᦉʚʶɛ⏏46) ʭɤɩ⏋ɗɹʭȩɲըᇕɲըᏝȵ ᩆᜨଝɹࡸᤋɴʢ߂ȷɲ৯ᯱˁήȭɛɭᓒȭʰʶʭȩ⏏ɄɹɄɭɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨȵ ࣙᬖˁࠃʠɛয়՟ɻ⏋ɗɹࡸᤋȵౖࡔɹಔᦲᩆᜨลᬠɴȲȿʳᩆᜨ֭ɭลᔨᇕɴᨦаɌɩȦ ɛɄɭȴʰʢៜȭʳɭᓒȭʰʶʳ⏏ɌȴɌ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹᇍࣙʦ᠗ሾɹكΫɴʭɤ ɩ⏋ᇕɲៀըɹᑃٮʦᐁཕըȵࢅɌ⏋ɗʶȵᩆᜨ֭⏋ɭʱʼȿᩆᜨଝɹᅎȦʰʶ ɴؙɇʶɩȦʳɹɫɻɲȦȴɭཀྵɇʶʳ⏏Ɍɛȵɤɩ⏋ᩆᜨଝɹգᅎᰈɹࢅɴመᇿ ɐʳɄɭɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨȵࣙᬖɇʶʳܕʦܩݖɹըᇕɲങᏼʛɭɹᬠѥɴȲȿʳ̋ ˓̠͊̀͌ˁயȼɄɭʢخᔨɫȡʳɄɭȵʼȴʳ⏏ ፀ 2 ɴ⏋˓˽͞ͻ͌ɴȲȿʳᩆᜨଝɹᅎȦʰʶɴɦȦɩɹៜؖɴɻ๖ɹʭȩɲɄ ɭȵᓒȭʰʶʳ⏏ɐɲʼɠ⏋ߕᏝჿᠶɹᏙᡮᇕɲ៎ဣȴʰឿɩჼБɴ႕ᇕɲϟᢒɭɌɩ⏋ մᦏБɹ˓˽͞ͻ͌γᅠɴȲȦɩᅵɲʳݭᯆʦᅵɲʳᇿᇕɴȲȦɩᅎȦʰʶɩȦɛৄߕᏝ ȵ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȿʳᩆᜨଝɭȦȩؾɍᇿᇕɹɴȭʰʶɩ 1 ɦɹ̩˱ɴؚ ʠʰʶɛɄɭȵ୲Ɂʰʶʳ⏏ɗɄɫɻ⏋ؾɍᇿᇕɹάɫృɛɴᩆᜨଝؾަȵጫغɐʳɄɭɴ ɲʱ⏋Ȧʼɽᩆᜨଝɹই՞ɭʢៜȭʳϟȵৄȷᣱɄɇʶɛ⏏ɗɄɫΥᖔᇕɴៜʼʶɩȦ ʳɄɭɻ⏋͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝɹȵ⏋͌͞ͻ̫̩ߕᏝʭʱʢʭʱʚɌȦᩆ 46) ɛɭȭɽ⏋1977 ॷɹ˛˻̶̺̜ˎ˓˵͡˓˽͞ͻ͌᪃ɹጓɻ⏋1977 ॷɹ႕աፀ 48 شɹըࡴɴʭɤɩ خᔨɴɲɤɛ [Soliman 2004: 270]⏏ʚɛ⏋1983 ॷɹ͇ͤͻ˹ˏ˓˽͞ͻ͌᪃ɹጓɻ⏋˓˽͞ͻ͌᪃ɹ ృɛɲըࡴɴʭɤɩخᔨɴɲɤɛ [Man 1988: 72]⏏
ᜨଝɫȡʳɭȦȩɄɭɫȡʳ⏏47) Ʉɹʭȩɲই՞ȵɰɹʭȩɲ͍ˡ̢̀͌ɴʭɤɩʼʶ ɛɹȴɴɦȦɩɹද២ɻʼʶɩȦɲȦȵ⏋Siddiqi ɹ͌͞ͻ̫̩ߕᏝɴɦȦɩɹ๖ɹʭȩɲ ᓒ࢘ȴʰཀྵȵخᔨɫȡʳ⏏Siddiqi ɻ⏋͌͞ͻ̫̩ߕᏝɭʓʖؾᒶɴᅎȦʰʶɩȦʳ̫˓˗ ͌ˏ̒˻͑͡ߕᏝ (bai‘ mu’ajjal) ɴɦȦɩ⏋ȋ̫˓˗͌ˏ̒˻͑͡ߕᏝɻ⏋ьᅎȵ៰ɇʶɩ Ȧʳᩆᜨଝɹ͠˽̜ȴʰԃɴʱ᭑ȴʶʳɄɭȵʚɌȦ⏏ɛɭȭ⏋ɗɹʭȩɲᩆᜨଝ ȵᇕɴ៰ɇʶʳɭɌɩʢ⏋ኧɇʶɩȦʳϟ⏃̫͠ͻෙਥ̆̆ৄᅎᓔ៶⏆ɴȷመȦɩ ɌʚȩȲɗʶȵȡʳʭȩɲʢɹɻኧɐʏȷɫȡʳɭȦȩᇕɲհˁӦӴɴɐʳʏȷɫȡ ʳȍ[Siddiqi 1983: 139] ɭᦚʏɩȦʳ⏏ɄɹɄɭȴʰ⏋ؾɍ˓˽͞ͻ͌ɹߕᏝჿᠶȴʰྲᑶ ɇʶɛᩆᜨଝɹμɫʢ⏋႕ɴ˓˽͞ͻ͌ȵኧɐʳ̫͠ͻʍɹୄ៘خᔨਸȵᲞȦʢɹȵ֔е ɴᒞȴʶʳɄɭȵʼȴʳ⏏គˁᦐɓɽ⏋˓˽͞ͻ͌ɹ៎ဣȴʰɻ⏋̫͠ͻɹୄ៘خᔨਸȵ жȦʢɹʓɰ⏋ჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɴȲȦɩߣɇʶʳɄɭɴɲʳɹɫȡʳ⏏Ʉɹʭȩ ɲই՞ȵʼʶʳᔘಕɭɌɩɻ⏋˓˽͞ͻ͌ɹͤ˻̘ˑ͇˹ͻɹ؏ൔˁЫȩ˓˽͞ͻ͌ ᖂ֪ɹ৯ᯱȵᓒȭʰʶʳȵ⏋ɗɹ֪ɹ̺ͤ̄Ͳ˽ɴʢܩݖɴʭɤɩཁȵȡʳɛʠ⏋ГΫ ɫᦚʏɩȷɛ˓˽͞ͻ͌ɴȲȿʳᩆᜨଝɹই՞ɹᓒȭɹ৯ᯱʢɗɹʭȩɲܩݖᇕ ɲेᅵɹάɫᓒȭʳਖឹȵȡʳɞʸȩ⏏ ፀ 3 ɴ⏋ᩆᜨଝɹᐁཕغჿਸɴɦȦɩɻ⏋ɄɄɫɻ͌͞ͻ̫̩ߕᏝɹؚᇰਸʦ֟რਸɹ ਸൔɭ⏋͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝɹؚᇰਸʦ֟რਸɹਸൔɭȵ߂ȷȼᅵɲʳɄɭȵ ୲Ɂʰʶʳ⏏͌͞ͻ̫̩ߕᏝɴɦȦɩɻ⏋ቁೝᇕɲᣂᩆᮛឹɴࢪਝɐʳʢɹɫȡʳɛʠ⏋˓˽ ͞ͻ͌ᩆᜨลᬠɴɭɤɩɻቁȦ̊˓͌˽̮ͲɫؚᇰˁȡɁʦɐȦᩆᜨଝɭɲɤɩȦʳ⏏ɗ ɹɛʠ⏋ጓᬚʢɲȦ˓˽͞ͻ͌ᩆᜨลᬠȵ⏋ᐁۊˁȼ᥄᧑ɴώɓʳɛʠɴɻʢଝݠȦ ɫȡʳɭᓒȭʰʶʳ⏏ʚɛ⏋ಔᦲᩆᜨลᬠɴȲȦɩ̘͠ͻ͡ՕᩃɴȲȿʳᮛឹȵ߂ȷȦգࡎ ЊȷቁೝͦͻͲʍɹᮛឹɭጫغɐʳɛʠ⏋ʭʱȼɹᰘࡹˁಔᦲᩆᜨลᬠȴʰ˹̶̜ɇɓʳɛ ʠɴʢ֟ɫȡʳ⏏ᩆᜨߕᏝɴȲȿʳݬɹᯃࢪዌਸɴɦȦɩɻᰘࡹɹ̶̚˝̜͡͠˽˪ȵ ςឹɲکᰍɴɲʳȵ⏋͌͞ͻ̫̩ߕᏝɻቁೝɫȡʱΥ܌ਸɹߕᏝɫȡʳɄɭȴʰέተࡸਸˁˡ ʹˎͻɐʳɛʠɹ˱˽̜ȵжȼ⏋ሂࢪᇕɴ֟რᇕɲᩆᜨଝɫȡʳɭᓒȭʰʶʳ⏏Υɫ⏋͌ ̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝɻ⏋̺ͦ˻˙˪̶̜ˎ˓̠Ͳ˽ɲɰςɴᬏೝᇕɲϟɴȲ ȿʳᣂᩆᮛឹɴࢪਝɐʳʢɹɫȡʳɛʠ⏋ؚᇰɻᬏೝᇕɲ̊˓͌˽̮Ͳɫࡸჼɐʳ⏏ᰘࡹɭ ᬠʼʳೝᬚȵᬏೝɴʼɛʳɛʠ⏋ؚᇰɴࢪɐʳέተࡸਸȵᲞʚʱ⏋ɗʶˁˡʹˎͻɐʳɛʠɹ 47) Usmani ɻ⏋๖ɹʭȩɴᦚʏɩȦʳ⏏ɐɲʼɠ⏋ȋ͌͞ͻ̫̩ߕᏝɻ⏋ʢɭʢɭᩆᜨଝɹɛʠɹߕᏝিɫɻɲ ȴɤɛɄɭˁឿᦣɌɩɻɲʰɲȦ⏏ɄɹߕᏝɻɴգࡎˁ᧫ȿʳɛʠɹɲɹɫȡɤɩ⏋ჿᇕɲ˓˽͞ͻ͌ ᐁཕ˹˽̘͌ɹࡸჼɹɛʠɹଝຍɭɻɲʰɲȦ⏏ʭɤɩ⏋͌͞ͻ̫̩ߕᏝɹьᅎɻ⏋ᐁཕɹ˓˽͞ͻ͌ɴكȿ ɛΥಁᇕɲʢɹɴɭɰʠʳʏȷɫȡʱ⏋͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝȵգᅎɫȷɲȦՕᩃɴᭉࡴɐʏȷɫ ȡʳȍ[Usmani 2000: 104-105]⏏
̢͐̊͠Ͳ˫˱˽̜ʢ߂ȷȼɲʳ⏏႕ɴ⏋͌̋ͻ̫͞ߕᏝɫɻ⏋ჿΫ⏋ா߉ȵᇍᅊɌɛɭ ȷɴா߉ɹᰎȵரњɇʶɛᣂᩆɹ፴ܑԒɫȡʶɽ⏋ᄐᆎɹɲȦϟᓔɻா߉ˁዴݏʠɐʳਖឹ ȵɲȦɛʠ⏋ᣂᩆரњүɹᩆᜨลᬠɹ͠˽˪ɻʭʱ߂ȷȼɲʳ⏏ɗɹΥɫ⏋ϟȵଁ֒Ɍɛ ݭغɴɻ 1 ܌ɹߕᏝɫᘎ߂ɲؚᇰˁೝ৺ɐʳɄɭȵɫȷʳ⏏ ࡸ᭬ɹ˓˽͞ͻ͌ᩆᜨลᬠɴȲȿʳᩆᜨଝɹᅎɭ᧧ିɴʭʳࡸᤋɻ⏋ГΫɫ୲Ɂɛʭ ȩɲᡉឹ܍ɹ̫͞Ͳ˽ɹȩȭɴଁʱጓɤɩȦʳɭᓒȭʰʶʳ⏏ɐɲʼɠ⏋ɗʶəʶɹ˓˽͞ͻ ͌ᩆᜨลᬠɻ⏋ɗɹࡸᤋˁࣙᬖɐʳܩݖɴȲȿʳᐁཕીʦᐁཕᇍࣙɹغȦ⏋ȡʳȦɻը ᇕɲങᏼʛɹըᏝɹ৯ᯱˁȼ؝ȿɩȦʳ⏏ɗɌɩ⏋ɗɹʭȩɲܩݖਸˁᤑʚȭɛȩȭɫ⏋͠ ̫ͻɴୄ៘ɌɲȦɭȦɤɛᩆᜨଝɹ˓˽͞ͻ͌ʍɹհᇕɲ᧟غਸˁᐣ୫Ɍɦɦʢ⏋ᕶʰȵ ᒞȴʶɛႥɴ᧟Ɍɛᐁཕغჿਸʦ˓˽͞ͻ͌ʍɹ᧟غਸɹͤ̾͡ɹໆࡴɭȦȩଝᐚȷˁ।ɴ ᑵʱᦐɌɲȵʰ⏋ᩆᜨଝɹᅎʦ᧧ିˁɤɩȦʳʢɹɞɭᓒȭʰʶʳ⏏ɗʶɻ⏋˓˽͞ͻ ͌ɴȲȿʳই՞ɇʶɛ͌̋ͻ̫͞ߕᏝʦ͌˹͑ͻ͞ˡߕᏝɲɰɹᩆᜨଝˁӦӴɐʳɹ ȴ⏋ȡʳȦɻ͌͞ͻ̫̩ߕᏝɴʭʳቁೝᇕɲؚᇰˁӦӴɐʳɹȴɭȦɤɛˏ̺ͦͻ̍ɹჿɭ Ɍɩɻࢪጓɐʳʭȩɲဣˁ⏋ܩݖਸˁᑃೳɭɌɩࡸᤋɴكȿɩ˱ͻ̚ˑ̦ͻ˹͚Ͳˁɤɩ Ȧȼዐɫʢȡʳɭៜȭʭȩ⏏ೣዣɫரᣱɇʶɛȋჼБ˓˽͞ͻ͌ᩆᜨድɹɛʠɹՕഓങᏼ ʛȍɻ⏋ჼБ˓˽͞ͻ͌ᩆᜨˁ⏋ɗɹࡸᤋˁॻȴʰఌȭɩȦʳᩆᜨଝˁଝȵȴʱɭɌɩ⏋ ɗʶɴ৯ᯱˁήȭɩȦʳɇʚɊʚɲឹ܍⏃ܩݖਸ⏋˓˽͞ͻ͌ʍɹ᧟غਸ⏋ᐁཕغჿਸ⏆ɹᬠ ѥɹ˱ͻ̚ˑ̦ͻ˹͚Ͳɹ֪ᇕɲ֪кɭɌɩயȼɄɭɫ⏋ɗʶəʶɹܩݖɫࣙᬖɇʶʳჼ Б˓˽͞ͻ͌ᩆᜨɹࡸᤋȵ⏋ΥɹჼБ˓˽͞ͻ͌ᩆᜨӉɴɻؚʚʱȷʰɲȦਸˁ׃يɌ ɩȦʳɄɭˁኍɐɄɭȵɫȷʳɹɫȡʳ⏏
мҁѼѝ̆̆ᇰೌѱ҄њмщёҔҩә̴Ӑनड़ࢂѠ݆
ɴ⏋ೣ፲ɫɻೣዣɫரᣱɇʶɛȋჼБ˓˽͞ͻ͌ᩆᜨድɹɛʠɹՕഓങᏼʛȍȵ⏋ჼ Б˓˽͞ͻ͌ᩆᜨድˁ׃ௌɐʳ˓˽͞ͻ͌ᐁཕድɴࢪɌɩȦȴɲʳࢊήȵɫȷʳȴɴɦȦ ɩɹᗐॵɹ̺ͦͅͻ˸͡ˁᦚʏɩೣዣˁᬔɍʳɄɭɴɐʳ⏏ ˓˽͞ͻ͌ɭᐁཕɹ៊ٮਸɻ⏋˪͡ˏͻͲɹጟئˁؒ၇ɐʳʚɫʢɲȼ⏋˓˽͞ͻ͌ድɹ Ԓɹȼɹᠶᓔɴʭɤɩ୭ɇʶɩȦʳ⏏48) ɛɭȭɽ⏋˓˽͞ͻ͌ᐁཕرࢃɹ֓ᚹɻ⏋˓ ˽͞ͻ͌႕ɹըɫȡʳͩ˪̶ (waqf) ɹࡔܧɴʭɤɩ⏋մᦏБɹ˓˽͞ͻ͌γᅠɴȲȿʳ ϯழϣᨢԗՕᨗɹลᔨȵᐏغɇʶ⏋ᐁཕ༎֪ȵԓྜྷɴʼʶɩȦɛɄɭˁ୭ɌɩȦʳ 48) ˪͡ˏͻͲɴɻ⏋ᐁཕ༎֪ˁປۄɭɌɩѵЖɴɦȦɩɤɩȦʳጟئȵȼȡʳȵ⏋ჼγɴȲȿʳᐁཕ༎֪ɹ୭ ᩍˁሁஞᇕɴ୭ኍɌɩȦʳጟئʢឿʰʶʳ⏏ɛɭȭɽ⏋ȋѵЖɐʳᓔʭ⏋ȡɲɛȵɛɹᢧᅋˁ⏋έɴȡɲɛȵɛ ɹᬚɫ༛ᢹɌɩɻɲʰɲȦ⏏ɞȵȲϣȦɹڵઝɴʭʳ⏋ڧެΫɹݭغɻաɫȡʳȍ⏃ࠨϺጟፀ 29 ፲⏆ɭᦚʏʰʶ ɩȲʱ⏋ɄʶɻᕶʰɹˁᅊᅋᇕɴьᅎɐʳɄɭˁߣɌɩȦʳ⏏֓ᚹ 2002b: 128-130⏏49) ȡʳȦɻ⏋ˏ˻ˏᐁཕᠶˁࢭᬐɭɐʳψЂɻ⏋˓˽͞ͻ͌ɹ Ԋɴʭɤɩ০ଁɇʶɛЦᬠѥȵ⏋҅ϺɹգैᇕɫลЦςᒶᇕɲ֪ɹخᔨਸˁཝɍʳɄɭ ɫ॑ݭЦɹዊইˁᐣ୫Ɍ⏋ɗʶȵմᦏБɹ˓˽͞ͻ͌γᅠɴȲȿʳڧɹᲞɲᇍ᧒ˁఌȭ ɛɭᦚʏɩȦʳ 1993: 41-43⏏Ʉʶʰɹᠶɻ⏋ᐁཕɴȲȿʳ˓˽͞ͻ͌ɹ৲ւɭθᓔɹ ᬠѥਸɹ႕ਐˁȷʼʠɩᇕተɴኍɌɩȦʳʢɹɫȡʳɭᓒȭʰʶʳ⏏ ɌȴɌ⏋ᐁཕ༎֪ɴᬠɐʳ˓˽͞ͻ͌ɴȲȿʳʢ߂ȷɲ႕ਐɫȡʳ̫͠ͻɹኧȵ⏋ࡸ ᭬ɹᐁཕ༎֪ɴȲȦɩɰɹʭȩɲ৲ւˁഗɛɌɩȦɛɹȴɭȦȩဣɴɦȦɩɻ⏋ਃഀɹᓒ࢘ ɫɻȷʼʠɩՖʶȵੲȦ⏏ɦʚʱ⏋˓˽͞ͻ͌ȵᐁཕ༎֪ˁߣɐʳʢɹɫȡʳɄɭɻ᠗ʠ ɩʢ⏋մᦏБɹ˓˽͞ͻ͌γᅠɹᐁཕࡸᤋɴȲȦɩɻ⏋̫͠ͻɹኧɻʓɭ˃ɰࡪʰʶɩȦɲ ȴɤɛɭᦚʏʳɄɭɫ̫͠ͻɹኧɹᐁཕᇕɲઝ٢ɹஜድˁ܌᧫Ɍɛʱͦ̋Ͳ̅Ͳ 1978⏋ ᦥɴ⏋̫͠ͻɹኧɴʭɤɩ˓˽͞ͻ͌γᅠɹᐁཕᇕɲᇍࣙȵᭀࢀɇʶɛɭɌɩ⏋˓˽͞ͻ͌ ɭᐁཕɹ៊ٮਸɴᅥѳȵɦȿʰʶɛʱɐʳɄɭʢȡɤɛ˪͞˗˽ 1944⏏մᓔɴɦȦɩɻ⏋ մᦏБɹ˓˽͞ͻ͌γᅠɴȲȦɩ̯͓͡ (.hiyal) ɭȦȩᇕɲ࿃ᔵଝຍɴʭɤɩࡸᣒᇕɲգࡎ Њȷɹᩆ᪐ᢸҏȵʼʶʳɄɭɫ⏋̫͠ͻɹኧȵᲓାȷɴɇʶɛɭȦȩɄɭɻ⏋ϟࡸɹΥү ᯆˁᝠɌɩȦʳɄɭɻተȴɫȡʳ⏏50) ɌȴɌ⏋ɗɹʭȩɲϟࡸˁ᠗ʠɛɭɌɩʢ⏋̫͠ͻɹኧ ˁ܌᧫ɐʳଝຍˁᓒȭՏɐЦᇕ˱˽̜ɻံែɫȷɲȦʢɹɫȡʱ⏋մᦏБɹ˓˽͞ͻ͌γ ᅠɹϺǾɴɭɤɩ⏋գࡎˁਐؚɐʳɄɭɴɲ˃ʰȴɹଵըȵӈȦɩȦɛɹɫɻɲȦȴɭᓒȭ ʳᦏ࿚చᩁɹᠶɴʢɭɧȦɩմᦏБɹ˓˽͞ͻ͌γᅠɴȲȿʳ̫͠ͻɹኧɹᐁཕᇕɲઝ٢ˁ ԗᓒɐʳਖឹȵȡʳɞʸȩᦏ࿚ 1992: 50⏏Υ⏋ᓔɹʭȩɲ⏋̫͠ͻɹኧɭȦȩ˓˽ ͞ͻ͌ɹॻᨆՕɴȲȦɩᐁཕɭɹ៊ٮਸˁుɦʭȩɲឿɻ⏋ᐄ࣌ɹɭɄʸ⏋գࡎȵᐁཕ༎ ֪ɹ࿅ྜྷໞɹ৲ւˁഗɛɐɄɭˁᦠ᠗ɐʳɄɭɴɲʱ⏋˓˽͞ͻ͌ɴȲȿʳᐁཕɹႶᕶਸɹࡔ ܧɗɹʢɹˁوࡴɌɩɌʚȩɄɭɴɲɤɩɌʚȩ⏏ ჼБɴᇿˁكȿʳɭ⏋ೣዣɫឿɩȷɛʭȩɴჼБ˓˽͞ͻ͌ᩆᜨɹࡸᤋɻ⏋̫͠ͻˁգࡎɭ ౩ተɴࡴʠɛȩȭɫ⏋ɗʶˁ౩ኍᇕɴக᭑ɐʳ০ɫࣙᬖɇʶɩȦʳ⏏ɗɄɫɻ⏋ʢɻʦ̫͠ͻ ɹኧȵᐁཕᇕɴɰɹʭȩɲઝ٢ˁ୫ɦɹȴɴɦȦɩέکɴЊɐɄɭɻέخᔨɫȡʳ⏏ɲɕ ɲʰ⏋ჼБ˓˽͞ͻ͌ᩆᜨɴȲȦɩɻ⏋մᦏБɹʭȩɴ̯͓͡ɴʭɤɩ̫͠ͻɹኧˁᲓାȷ ɴɐʳоܩɻʚɤɛȼࡔܧɓɑ⏋ȴɦ̫͠ͻɴୄ៘ɌɲȦᩆᜨଝɹգᅎɴʭɤɩᐁཕᇕɴʢ ଁ֒ɐʳɄɭȵິʠʰʶɩȲʱ⏋ణȭɩᣂೣςᒶ˹˽̘͌ȵӦֳɫȡʳჼБγᅠɴȲȦɩ⏋͠ ̫ͻɴୄ៘ɌɲȦʭȩɲᩆᜨଝˁᅎȦɩᐁཕࡸᤋˁȩઝ٢ˁ͌˽͌͠ɴࢪɌɩʢɗʶГ 49) ͩ˪̶ɭɻ⏋˓˽͞ͻ͌Ⴖᕶɹᢧᅋࢊᦽըɫȡʱ⏋ɗɹᢧᅋɹଘณɹьˁҪɐʳɄɭɫ⏋ᢧᅋȴʰᅊɍ ʳգᇰˁঃȼલڵᇿᇕɴգᅎɐʳɛʠɹըɫȡʳ⏏ 50) ̯͓͡ɴʭɤɩᑂʛՏɇʶɛࡸᣒᇕɲգࡎЊȷɹᩆ᪐ᢸҏˁȩɹБᝠёɭɌɩɻ⏋˓ͻ̠ৄ (bay‘ al-‘īna) ɭ٧ɽʶʳϠᩂɹ௹ըެᢷߕᏝȵ୲Ɂʰʶʳගೣ 1970: 72-73⏏
