Haroun Rahimi

Reform and Regulation of Economic Institutions in Afghanistan

Formal and Informal Credit Systems

• Gebundenes Buch

Produktbeschreibung

Taliban's return to power in August of 2021 caused everyone to ask why the two decades of institution building in Afghanistan failed. This book investigates the root causes of failed reforms in an important area of reform: trade and credit institutions.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 276
• Erscheinungstermin: 21. Oktober 2022
• Englisch
• Abmessung: 234mm x 156mm x 18mm
• Gewicht: 590g
• ISBN-13: 9781032157351
• ISBN-10: 1032157356
• Artikelnr.: 64358624

Autorenporträt

Haroun Rahimi has obtained his B.A. in Law from Herat University, his LLM in Global Business Law from the University of Washington School of Law, and his Ph.D. from the University of Washington. Rahimi is Assistant Professor of Law at the American University of Afghanistan. Rahimi's research focuses on economic laws, institutional reform, Islamic finance, and divergent conceptions of rule of law in the Muslim and modern thoughts. Rahimi's research has appeared in reputable local and international journals. Rahimi has also collaborated as an independent consultant with a number of research firms and policy think tanks conducting policy research on institutional development and good governance in the South Asia context. At the Oxford Centre for Islamic Studies, Rahimi has worked on Islamic finance as a poverty alleviation strategy, legal history of Afghanistan and the ways that legal transplantation is legitimized in Muslim countries. More recently, Rahimi was a visiting scholar at the International Institute for the Unification of Private Law (UNIDROIT) in Rome. Currently, Rahimi is a Visiting Professor at the Bocconi University School of Law in Milan, Italy.

Inhaltsangabe

Acknowledgement
Preface
Introduction
Broader theoretical landscape and the case of Afghanistan
Overview of the book's organization and summary of its argument
Methodology and Definitions
Grounded Theory
Sampling and Data Collection
Definitions
1. Background on the Economy and the Problems of Credit Transacting in
Afghanistan
A General Picture of Afghanistan's Economy under the Islamic Republic
Main Types of Actors in Afghanistan's Credit Economy
An Analysis of Businesses in Afghanistan
Business Registry Data on Business Registry and Initial Capital Investment
in Five Major Provinces
The Business Survey Data on Business Establishments in Afghanistan
An Overview of the Social Context of Afghanistan's Economy
A Brief Overview of Institutional Context of Afghanistan's Economy
Fundamental Problems of Credit Transactions in Afghanistan
Afghanistan Has a Volatile Business Climate
Formal Property Rights in Afghanistan
Formal Commercial Dispute Resolution in Afghanistan
2. Informal Financial and Dispute Resolution Institutions in Afghanistan
Supply Chains and Trade Credit
Market Competition and Provision of Trade Credit
Weekly Payment System (Ugraee)
How Businesses Come to Trust Credit Sales in Afghanistan
Trade Credit versus Bank Loans
Sources of Initial Capital to Start a Business
Prevailing Institutions in Afghanistan Disincentivize Destructive
Innovation and Creative Destruction
Agency Costs Limit Business Expansion
Family Businesses in Afghanistan
Trade Credit from Suppliers Located Outside Afghanistan
Is the Solution Curbing Credit Sales?
Sarrafs and Sarrafi Markets
Deposit-keeping
Domestic Money Transfer (Hawala)
International Money Transfer (Hawala)
Currency Exchange
Speculative Trade in Currencies (Sita) and Public Auctions (Booli)
Sarraf's Checks
Short-Term Working Capital Loans
Medium and Long-Term Sarrafi Loans
Equity Financing
The Case of Balkh's Sarrafi Market
Religious Prohibition of Interest and Access to Finance
Regional Variations within Sarrafi Markets
Gerawee
Size of Gerawee Market
Gerawee and its variations
Important Characteristics of the Gerawee Market
Bay' al-Wafa: Sale with a Right of Repurchase
Gerawee in Fatwas issued by the Afghan Muftis
Status of Gerawee under Afghan Civil Code of 1977
Gerawee cases before Afghan Courts
Sar qufli
What is Sar qufli?
Recognition of Sar qufli by Commercial Courts
The Contrast between Judicial Treatment of Sar qufli and Gerawee
Informal Dispute Resolution Institutions in Afghanistan: Who Uses Them and
Why?
Afghan Merchants Prefer Informal Dispute Resolution Institutions
Who Uses Formal and Informal Dispute Resolution Institutions in Afghanistan
Why Merchants Use Informal Dispute Resolution
Variation in the Effectiveness of Informal Dispute Resolution Institutions
Informal Dispute Resolution and Pashtun Culture
The Use of Force to Resolve a Commercial Dispute
3. Afghanistan's Formal Financial Institutions
Formal Financial Intermediaries in Afghanistan: Are Sarrafs Included?
Formal Regulations of Sarrafs
What Is Wrong with the Sarrafi Regulation?
Banks in Afghanistan
Trust in Banks
Banks' Total Assets
Banks' Total Deposits
Banks' Loans
Government Strategic Policies Aimed to Improve Access to Credit during the
Islamic Republic
Afghanistan National Peace and Development Framework (2017-2021)
Ministry of Economics' Afghan Government Economic Plan (National Economic
Plan) (2013)
Ministry of Commerce and Industries Strategic Plan (Commerce Strategy)
(2016-2020)
Afghanistan Central Bank Strategic Plan (Banking Strategy) (2017-2021)
Ministry of Justice Strategic Plan (Justice Strategic Plan) (2014-2018)
Analysis of Afghan Government Strategic Policies
4. A Critique of the Approach to Institutional Reform in Afghanistan, and a
Proposal for a New Approach: Grounded Institutional Reform
Grounded Institutional Reform: A Revised Approach for the Countries with
Poor Infrastructure, Limited Market Expansion Opportunities, and a Willing
Government
Rationales for Anti-Informal Institutions Positions: The Problems of
Formalizing Informal Institutions in Afghanistan
Theoretical Underpinning of Anti-Informal Institutions in Afghanistan
Practical Problems of Absorbing Informal Institutions in Afghanistan
What Would Reforms Based on Grounded Institutional Reform Look Like in
Afghanistan?
Conclusions and Recommendations
Bibliography
Appendix I
Appendix II