Cooperative Micro-finance: a debt-free mechanism ~ World Islamic Investment Cooperation Legitimate Gain with Risk Sharing Spirit

Tuesday, April 9, 2013

Cooperative Micro-finance: a debt-free mechanism

6:23 AM

Mohd. Ma'sum Billah

The world of today had been suffering un-repairable damages due to debt-based economy with risk transferring techniques, which give one an opportunity to gain at the expense of others by diminishing the spirit of eco-democracy thus, fails to guarantee an eco-peace in today’s world of humanity. Such a debt-based mechanism enriches the riches with opportunities while closing the door of poor by depriving them from enjoying with true eco-democracy.

To rescue the world humanity from an unjust treatment through debt-based economy CMF a debt-free asset based mechanism with risk sharing technique is timely, which may be among the right alternative moves to day to facilitate a sustainable “Debt-free 3rd World Development with true democracy to peace for all” with result oriented achievement by creating an enterprising and entrepreneur based Nation aiming to have the chance to be self-reliant, matured, esteemed and proud leading to eco-Peace, Progressive and Prosperous in the Contemporary World of advanced socio-economic reality.

The mechanism of operation of CMF shall be adapted based on the micro-democratic arrangement with holistic spirit of mutual cooperation, brotherhood and solidarity in view of targeting socio-economic prosperity and peace among all humanity with no issue of one’s religion, race, status, gender or nationality.

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Mohd Ma'Sum Billah, PhD, is a Malaysian.

He was born in a respectable learned ('Ulama')family. His father was Mufti (Islamic jurisprudential expert) while his mother was religious teacher specializing in Tasauuf. "May Allah (swt) grant them Jannatul Ferdaus".

Currently he is a Professor (finance, insurance, investment, capital market, petroleum finance & trade and social finance), King Abdul Aziz University, Saudi Arabia.

He began his academic career with the faculty
of law and subsequently with the department of business administration of the International Islamic University Malaysia (IIUM), Malaysia.

He had been serving as a proposed VC of a proposed university (UCTECH) in Malaysia, which aimed at establishing possible internationally standard education & research opportunities in applied science, technology, health-care, finance, business, IT and social science related programs both at undergraduate and postgraduate levels.

He had also served as a director for the “Islamic Chamber of Commerce & Industry (OIC Countries), Jeddah, Saudi Arabia”, in charge of global trade & investment cooperation.

Billah in his professionalcapacity as a visiting professor, adjunct-professor, external supervisor, external examiner & viewer had also been lecturing, supervising and examining at both degree, post-graduate & post-doctoral levels in several universities and countries including Malaysia, Saudi Arabia, Australia, Iran, USA, UK, Pakistan, Russia, Brunei, Indonesia, Singapore, UAE, Egypt, China, Japan, Germany, Africa, India, Canada and to name a few.

Billah has authored a series internationally refereed books / chapters in book in the leading specialized subjects of applied Islamic & comparative finance, insurance, trade, investment, capital market, sukuk, waqf, social finance, business, e-commerce, corporate laws & policies. Out of which, 31 have already been published by several reputable publishers including Thompson Reuters, Sweet & Maxwell, Edward Elgar, McMillan Palgrave, IIBI and so on, which had been being used as a reference by universities, researchers, governments, NGOs, professional sectors, students and industries in different parts of the world.

He has also written and duly published more
than 200 articles in different refereed Journals, Periodicals, Encyclopedias & Medias on applied Comparative & Islamic finance, insurance, capital market, waqf, social finance, sukuk & corporate issues globally.

He had also been actively presenting more than 300 specialized lectures & papers at Conferences, Conventions, Summits, Seminars & Executive Workshops internationally, regionally and locally as well on applied Comparative & Islamic finance, insurance, petroleum finance, sukuk, waqf, social finance, capital market, investment & corporate issues.
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He had been actively sharing his ideas in different medias (TV, radio, newspapers, magazines, periodicals & talk shows) on the specialized issues of Islamic & comparative finance, insurance, investment, trade, social finance & corporate solutions internationally, regionally and locally as well.

Billah had been sitting & contributing in his capacity as the member in more than 30 different boards of financial, academic, corporate & NGO organizations internationally, regionally & locally.

He in his capacity as an adviser, board of directors, consultant & viewer, had been offering his humble intellectual contributions globally on both modern & Islamic financial reform & transformation, applied Islamic and comparative finance, insurance, investment, government strategies & policies (finance, insurance, investment, capital market, social finance & trade), privatization, industrialization, public finance, money, global trade & shipping, foreign export, petroleum trade and finance (oil & gas), barter trade, halal standard, audit standard, e-commerce, insurance, takaful, business, cooperative micro-finance, cooperative micro-bond, sukuk, REITs, financial instruments, project finance, waqf, social finance, global investment cooperation and also Shari'ah compliance of modern financial system to suite the contemporary reality.

Among the contributions in the above specialized sectors are, as to products, technicalities, government policies, strategies, instruments and operations.

Objectives in the above contributions are (inter alia) the humanitarian concern with socio-economic democracy for all underprivileged ones by helping them enjoying with eco-peace and prosperity within the holistic spirit & universal value of brotherhood, mutual cooperation, utmost care & concern by no issue of one's religion, race, color, gender, status, nationality or personality.

World Islamic Investment Cooperation Legitimate Gain with Risk Sharing Spirit

Tuesday, April 9, 2013