145
Islamic Finance Education:
Theoretical Developments and Practical Challenges
Kamola Bayram
Assistant Professor, Department of Islamic Economics and Finance, KTO Karatay University, Turkey
ABSTRACT. The role of Islamic finance education is important for meeting the human resource needs of the Islamic finance (IF) sector in the long run. Therefore, in order to produce quality human resource, several approaches are used such as: (i) university degree programs; (ii) specialized trainings and workshops; (iii) distance learning programs; and (iv) publications, webinars, and other media. Teaching of IF started in the 1990s following the arrival of Islamic banking, and mainly focused on the doctrinal debates on ribā. In 1991, International Islamic University Malaysia (IIUM) offered an Islamic banking and Islamic financial system course at the undergraduate level. By 2017, there were 688 Islamic finance education providers from 76 countries around the world. However, today, the IF education sector faces some issues and major challenges. This article looks at the current state of IF education; discusses the divergence between theory and practice with special focus on the issues and major challenges in Islamic finance education; and discusses IF education in the context of quantity versus quality with focus on IF scientific output.
KEYWORDS: Islamic finance education, Islamic finance ecosystem, Bibliometric analysis.
JELCLASSIFICATION: A23, G20 KAUJIECLASSIFICATION: E0, J41, H1
1. Introduction
One can find that Islamic economics emerged after the second World War, the period when the Muslims in different parts of the world rid themselves from colonialism, and independent Muslim states appeared on the world map (Tahir, 2009, p. 1). Islamic finance started its development in the form of social banking, the case of Mit Ghamr in Egypt, in the 1960s. In 1963, Lembaga Tabung Haji (TH), the statutory body, was established by the government of Malay- sia. However, in late 1970‟s the industry witnessed the emergence of Islamic banks which deviated from their original social banking counterpart and devel- oped into a commercial form. Asutay (2013, p. 55) states that the success of IBs (Islamic banks) and financial institutions is due to their integration into the Western financial centers such as the UK, France, Germany and Luxemburg. As of the end of 2017, the Islamic financial (IF) sector consists of 1,389 finan- cial institutions and 688 education providers from 76 countries worldwide (Mohamed, Goni, & Hasan, 2018, p. 6, 32).
Rusni Hassan (2020) in her lead paper titled “Re- forming Islamic Finance: Why and How?”, elabo- rates the development of Islamic finance (IF) from four aspects, namely, (i) the general overview of the development of IF industry followed by the devel- opments in Malaysia, such as the initiation of a sav- ings platform for Muslims and TH, and develop- ments in the Gulf Cooperation Council (GCC); (ii) developments in the context of legal and regulatory frameworks; (iii) legal developments; which are clas- sified into three categories as extensive develop- ments, moderate developments, and relatively negli- gible developments (UAE and Pakistan are given as examples for jurisdictions which exhibit extensive development; however, Hassan (p. 69) argued that there is a lack of comprehensive legal framework which incorporates capital markets, and takāful with the existing IB industry); and (iv) developments in Sharīʿah governance which is another essential com- ponent of IFIs (Islamic financial institutions).
When we discuss about the developments in Is- lamic finance, we also need to address the develop- ments in the IF education field which is another im- portant component of the IF ecosystem (Mohamed, Goni, & Hasan, 2018, pp. 32-35). My commentary will contribute to Hassan‟s lead article mainly in this context.
The paper is divided into five sections. After the introduction, which is section 1, in section 2 we look at the current state of IF education. Section 3 discuss- es the divergence between theory and practice with special focus on the issues and major challenges in Islamic finance education. The quantity versus quali- ty in IF education is discussed in section 4, while section 5 concludes.
2. The Current State of Islamic Finance Education The role of Islamic finance education is important for meeting the human resource needs of the IF sector in the long run. Therefore, in order to produce quality human resource, several approaches are used such as (i) university degree programs; (ii) specialized train- ings and workshops; (iii) distance learning programs;
and (iv) publications, webinars & other media. Ma- laysia is a country which made early strides in the Islamic banking and finance industry. The emergence of Islamic banking was soon followed by teaching and training (Tahir, 2009, p. 2). As mentioned above, now Islamic finance education is provided across the world, and Malaysia is leading in terms of education- al institutions offering Islamic finance courses out of its mainstream education providers, where about 68%
of all educational institutions are offering such cours- es (Mohamed, Goni, & Hasan, 2018, p. 33).
In 2010, the Malaysian government incorporated IF education in the Economic Transformation Pro- gram (ETP) among thirteen education sector Entry Point Projects (EPPs). Under the ETP, IF education was listed as the seventh EPP and, therefore, is com- monly referred to as EPP7. The objective of EPP7 was to undertake initiatives for developing a compre- hensive curriculum and talent pool for IF education in Malaysia. In December 2015, there was a need to continue with the work and activities started under the EPP7. Activities that needed to be continued, included: curriculum review and improvement, mod- ule development and training of Islamic finance edu- cators (through continuous education programs – CEPs), updating the database of educators, etc.
Against this background, an idea was floated to es- tablish and register an independent organization bringing together Islamic finance educators within Malaysia and abroad. The International Council of Islamic Finance Educators (ICIFE) was established in January 2014 as a consequential deliverable of EPP7 (ICIFE, 2016, p. 4).
Another milestone in IF education was the estab- lishment of Finance Accreditation Agency (FAA), in 2012 in Malaysia, which was incorporated to develop higher learning standards and spearhead the standardization and certification efforts for the fi- nancial services industry, under the guidance of the Malaysian Central Bank (Bank Negara Malaysia) and the Securities Commission Malaysia. Since its inception, FAA‟s scope has expanded substantially to embrace a wide range of accreditation formats, from program accreditation to institutional and indi- vidual accreditation.
Malaysia is closely followed by Pakistan, where about 51% of all educational institutions are offering IEF (Islamic economics and finance) courses. Apart of these two countries there are also countries such as Turkey, Indonesia, and the GCC countries which have also started to provide undergraduate and grad- uate programs in IEF. In the GCC countries, where Bahrain is in the leading position, there are more than 15 IEF programs, including diplomas, master‟s
degrees, and theoretical and practical training cours- es. Saudi Arabia, for example, has several training courses on IBF (Islamic banking and finance) mainly offered by the Islamic Research and Training Insti- tute (IRTI), as well as master‟s programs offered by Effat University, and King Abdulaziz University (Akkaş, 2017, pp. 33-34).
Some countries have a later exposure to IF educa- tion. One of these countries is Turkey, where Islamic finance traces its roots back to the 1980s. However, it took another three decades for Islamic finance educa- tion to commence. The first postgraduate program in Turkey was introduced by Istanbul University in 2014, followed by the postgraduate program intro- duced by Sakarya University in 2016. In 2016, KTO Karatay University and Istanbul Sabahattin Zaim University (IZU) launched bachelor‟s degree pro- grams. Today, there are ten universities offering Un- dergraduate and Postgraduate programs in IEF (Bay- ram, 2020). Table 1 provides detailed information about these programs.
Table (1) Islamic Economics and Finance Programs in Turkey
University Program Program Title Language Department
KTO Karatay University
Bachelor‟s
Degree Islamic Economics and Finance Turkish
Faculty of Business and Management Sciences, Department of Islamic Economics and Finance
Master‟s
Degree NA NA NA
PhD NA NA NA
Istanbul Sabahattin Zaim
University
Bachelor‟s Degree
Islamic Economics and Finance Islamic Economics and Finance
English Turkish
Faculty of Business and Management Sciences
Master‟s Degree
International Finance and
Participation Banking* Turkish
Institute of Social Science, Islamic Economics and Finance Department Islamic Economics and Law* Arabic
Islamic Economics and Finance* English
PhD
Islamic Economics and
International Finance Turkish
Institute of Social Science, Islamic Economics and Finance Department Islamic Economics and Law Arabic
Islamic Economics and Finance English
Sakarya University
Bachelor‟s
Degree NA NA NA
Master‟s
Degree Islamic Economics and Finance* Turkish Research Center for Islamic Economics and Finance PhD Islamic Economics and Finance Turkish
Research Center for Islamic
Economics and Finance and Finance Department
University Program Program Title Language Department
İstanbul University
Bachelor‟s
Degree NA NA NA
Master‟s
Degree Islamic Economics and Finance* Turkish Institute of Social Science, Islamic Economics and Finance Department PhD Islamic Economics and Finance Turkish Institute of Social Science, Islamic
Economics and Finance Department
Marmara University
Bachelor‟s
Degree NA NA NA
Master‟s
Degree Islamic Economics and Finance* English
Institute of Islamic Economics and Finance Department of Islamic Economics and Finance
PhD NA NA NA
Social Sciences University of
Ankara
Bachelor‟s
Degree NA NA NA
Master‟s Degree
Master Program in Islamic
Economics and Finance** English Institute for Islamic Studies
PhD NA NA NA
Bursa Uludag University
Bachelor‟s
Degree NA NA NA
Master‟s
Degree NA NA NA
PhD Islamic Economics and
Participation Banking Turkish Institute of Social Sciences İstanbul
Medeniyet University
Bachelor‟s
Degree NA NA NA
Master‟s
Degree Islamic Banking and Finance* Turkish Department of Economics
PhD NA NA NA
İstanbul Şehir University
Bachelor‟s
Degree NA NA NA
Master‟s Degree
MBA Islamic Economics and
Finance*** Turkish Institute of Business Administration
PhD NA NA NA
Necmettin Erbakan University
Bachelor‟s
Degree NA NA NA
Master‟s
Degree Islamic Economics** 30% English, 70% Turkish
Multidisciplinary program held by Faculty of Theology and Faculty of Economics and Business Administration
PhD NA NA NA
Notes: * Master‟s Degree with and without thesis; ** Master‟s Degree with thesis; ***Master‟s Degree without thesis.
Source: Bayram, 2020.
3. The Divergence between Theory and Practice Hassan (2020), discusses the divergence between theory and practice in Islamic finance and asks a crucial question: “Where does the major problem lie in IF? Is it in IF theory or is it in the practice of the industry?” (p. 69). And, continues by answering that there is a clear gap between theory and practice which needs to be addressed.
When we analyze the literature, we see that the in- itial focus of Islamic economics was on issues of practical significance for Muslim countries such as economic development, income distribution, poverty, and macroeconomic policies (Tahir, 2016, p. 175).
Islamic finance started later in 1975 with some gen- eral ideas but without a well-developed theory (Tahir, 2009, p. 17). Hence, today, Islamic finance does not seem to share the foundational claims of Islamic eco- nomics, as elaborated by Asutay (2007, p. 168). He further argues that the developments in the field of Islamic economics have been weak because of the underdevelopment of the intellectual capital and lack of research interest. Meanwhile, the emerging wealth in the Muslim world, especially in the Gulf region, pushed the industry to develop beyond the Islamic economics‟ (IE) framework, which resulted in weak- er developments in its practical discourse. The reason for this is that Islamic economic theory has devel- oped coherent foundational axioms but was lacking operational axioms which enable functioning of IBF institutions. As a result, IBF adopted neo-classical assumptions which conflict with the normative as- sumptions of IE (Asutay, 2007, p. 168).
As a contribution to the lead paper, I would like to further the discussion with the issues and major challenges in the context of IF education.
3.1 Issues and Major Challenges in Islamic Finance Education
Islamic banking was nourished with ideological reflection of interest-free banking but was lacking a well-developed theoretical model. The intellectual incentive was provided by Islamic economists who were not experts in finance. Later, Muslim profes- sional bankers and Sharīʿah scholars came into the picture to resolve the juristic complications. As a result, the theory of Islamic banking lagged behind the practice of Islamic banking (Tahir, 2009, p. 1).
Teaching of IF started in the1990s, following the arrival of Islamic banking, and mainly focused on the doctrinal debates on ribā. Systematic develop- ments in IBF took place in Malaysia followed by formal teaching of Islamic banking. In 1991, the International Islamic University Malaysia (IIUM) offered an Islamic banking and Islamic financial system course at the undergraduate level (Tahir, 2009, p. 10). However, today, the IF education sec- tor faces some major challenges which are summa- rized in table 2 based on the study by Tahir (2009).
Another issue that can be added, is the language barrier – the language of the Qur‟ān, Sunnah and fiqh is Arabic – which is one of the major issues especially in non-Arab countries.
To solve these issues, organizations such as the ICIFE and FAA (as discussed above) were estab- lished in Malaysia. These types of initiatives need to be replicated in every jurisdiction which provides IF education.
Table (2) Major Challenges in IF Education
Paradigm
While there is a niche in the form of “Islamic banking” and “Islamic finance”, there is a little scientific knowledge to back it. There is hardly any theory that provides a unifying link between the existing positions on the various issues. This is the biggest hurdle in the way of Islamic finance education.
Sharīʿah and its Teaching The claim of IBF as a distinct reality rests on “Sharīʿah-compliance”. A consensus on the Sharīʿah matters is crucial for the advancement of IBF.
Curriculum – Academic Programs
The target may be set both for short-term and the long-term. Moreover, one may have to make an allowance for the nature of the educational institutions. For example, the Islamic universities versus traditional universities. There is no coordination among the various universities in this regard.
Teaching Material There is a need for standardization in the teaching material.
Teachers / Lecturers
There is need for short-term measures, in the form of short-term teaching programs and workshops for university lecturers, to develop and to strengthen teaching talent.
Source: Tahir (2009, pp. 17-27)
4. Quantity versus Quality in Islamic Finance Education
In the third part of the lead paper, Rusni Hassan (2020, p. 72) discusses about the quantity of IFIs and their correlation with their quality. Being on the education side of IF, I would share with the reader some developments in IF and to extend the debate started by Rusni Hassan in the educational context.
As discussed above, Malaysia is leading in terms of educational institutions offering IF courses out of its mainstream education providers, followed by Pakistan. Both countries are within the top five IF education providers. Indonesia is in third position, though the relative number of IF educators there is small compared to the total number of education providers. These countries also produce the largest share of IF research, with a total of 2,564 papers produced between 2015 and 2017 and are also the most analyzed countries in this research (Mohamed, Goni, & Hasan, 2018, p. 33).
IF education is assessed through courses and programs on the one hand, and research and publi- cation on the other. Focusing on the research and publication aspect, the number of IF publications is mounting quickly, and it is becoming gradually impractical to stay up to date with everything that is being published. This curbs the capability to
accumulate knowledge and efficiently gather evi- dence through a set of preceding literature. Bayram and Altarturi (2020, p. 19), screened qualitative and quantitative literature reviewing methodolo- gies to understand and organize previous studies.
Among these techniques, bibliometric studies pro- vide a structured analysis to big data based on the statistical measurement of science, scientists, or scientific activity to present the “big picture” of the literature. To identify the knowledge base of the publications in IF education and its intellectual and conceptual structure, the analysis of analyses, i.e., a bibliometric analysis, was conducted. The result- ing dataset contained 2,896 publication over around a century. The majority of IF publications are journal articles, followed by book chapters, and then conference papers, produced by about just over 4,000 researchers in IF where a collaboration index is 1.77 authors per document (see table 3).
The first publication related to IF was published in 1914 followed by a few number of publications in the 1950s. The publications number appeared to be low until the early 2000s. It is noted that there is a sharp increase after the global financial crisis of 2008. An increasing trend is observed in the number of researchers addressing IF as an alternative to the conventional financial system. The total annual growth of IF publications over a century is 14.13%.
Table (3) Main Information about the Publications in Islamic Finance
Description Results
Documents 2,896
Sources (Journals, Books, etc.) 808
Keywords Plus 1,491
Author‟s Keywords 5,212
Period 1914-2019
Average citations per documents 6.242
Authors 4084
Author Appearances 6543
Authors of single-authored documents 744
Authors of multi-authored documents 3340
Single-authored documents 1013
Documents per Author 0.709
Authors per Document 1.41
Co-Authors per Documents 2.26
Collaboration Index 1.77
Document Types
Article 2,197
Article in press 8
Book 82
Book chapter 242
Business article 1
Conference paper 157
Conference review 5
Editorial 20
Erratum 3
Letter 2
Note 5
Review 173
Short survey 1
Source: Bayram & Altarturi (2020 p.19).
A total of 77 countries contributed in IF education.
The distribution of the top 10 countries is shown in the map in figure 1. The country with the greatest research output in IF is Malaysia with 1,712
documents, followed by the UK, Indonesia, the USA, and Pakistan, with a total of 378, 337, 323, and 229 publications respectively.
Figure (1) Country Scientific Production
Source: Author‟s calculations. Data derived from Scopus database.
IF has been praised for putting Islamic economics theories together into a practical industry that has grown to about USD 2.19 trillion in assets as of the end of 2018 (IFSB, 2019, p. 1). However, IF has also been criticized for ignoring the basic philoso- phy of Islamic economics, moving in the wrong
direction over the decades (Asutay, 2007, p. 168). A slow-down in annual scientific production in IF has been noticed in 2018, while it dropped significantly (by 20.43%) in 2019, and is expected to continue falling in 2020 (see figure 2).
Figure (2) Annual Scientific Production from 2005-2019
Source: Bayram & Altarturi (2020, p. 20).
This science mapping technique lends support to the existence of what we have termed IF educa- tion: A conceptual perspective which has perhaps been ignored but applied in research and practice.
Through a bibliometric analysis it has retraced the published literature in Islamic finance. The devel- opment of this research model and its growing relevance can be summed up by quoting what Aris- totle had already predicted as „„the whole is greater than the sum of its parts”.
5. Conclusion
The role of IF education is important for meeting human resource needs of the IF sector in the long run. Therefore, in order to produce quality human resource, several approaches are used such as (i) university degree programs; (ii) specialized train- ings and workshops; (iii) distance learning pro- grams; and (iv) publications, webinars & other media. Teaching of IF started in the 1990s follow- ing the arrival of commercial Islamic banking and focused on the doctrinal debates on ribā. Systemat- ic developments in IBF took place in Malaysia followed by formal teaching of Islamic banking.
Today, there are 688 institutions worldwide
providing IF programs. Malaysia also took initia- tive towards the standardization of IF education by establishing organizations such as the FAA and ICIFE in 2012 and 2014 respectively. Today, Ma- laysia is leading in terms of educational institutions offering Islamic finance courses out of its main- stream education providers, followed by Pakistan.
Apart of these two countries there are also coun- tries such as Turkey, Indonesia, and the GCC countries which have also started to provide un- dergraduate and graduate programs on IEF. This article also provided a bibliometric analysis of the IF publications which is a component of IF educa- tion. The first publication related to IF was pub- lished in 1914 followed by a few number of publi- cations in the 1950s. The publications number appeared to be low until the early 2000s and sharp- ly increased after the global financial crisis of 2008. An increasing trend is observed in the num- ber of researchers addressing IF as an alternative to the conventional financial system. The article also discussed the issues and challenges the IF educa- tion sector faces today. This commentary contrib- utes to the lead article written by Rusni Hassan in the context of IF education.
References
Akkaş, E. (2017). An overview of Islamic economics and finance in the GCC countries (IKAM Report No.
3, Country Report 1). Retrieved from: https://bit.ly/
3auv1Wy
Asutay, M. (2007). Conceptualisation of the second best solution in overcoming the social failure of Islamic banking and finance: Examining the over powering of homoislamicus by homoeconomicus. IIUM Journal of Economics and Management, 15(2), pp. 167-195.
Asutay, M. (2013). Islamic moral economy as the foundation of Islamic finance. In V. Cattelan (Ed.), Islamic finance in Europe: Towards a plural financial system (pp. 55-68). Cheltenham, UK: Edward Elgar.
Bayram, K. (2020, March 10). Islamic economics and finance programs in Turkey. Islamic Finance News, 17(10), 20-21. Retrieved from: https://bit.ly/2CvKxFc Bayram, K., & Altarturi, B. (2020). Islamic finance
education mapping analysis. In Islamic Finance News Annual Guide 2020 (pp.19-20). Kuala Lumpur, Malaysia: Redmoney. Retrieved from: https://bit.ly/
3h0JM60
Hassan, R. (2020). Reforming Islamic Finance: Why and How? Journal of King Abdulaziz University: Islamic Economics, 33(2), 67-80.
International Council of Islamic Finance Educators [ICIFE]. (2016). Malaysian Islamic Finance Education Report (MIFER 2016). Kedah, Malaysia:
Universiti Utara Malaysia (UUM) Press. Retrieved from: https://bit.ly/3kMvMz3
Islamic Financial Services Board [IFSB]. (2019). Islamic financial services industry stability report 2019. Kuala Lumpur, Malaysia: Author. Retrieved from:
https://bit.ly/343FJlI
Mohamed, S., Goni, A., & Hasan, S. (2018). Islamic finance development report 2018: Building Momentum.
Toronto, Canada: Thompson Reuters. Retrieved from:
https://bit.ly/3gzNfb6
Tahir, S. (2009). Islamic finance – Undergraduate education. Islamic Economic Studies, 16(1&2), 1-29.
Tahir, S. (2016). Fiscal and monetary policies in Islamic economics: Contours of an institutional framework. In H. Khalid, M.N. Barom, & N.S. Shirazi (Eds.), Essential Perspectives in Islamic Economics and Finance (pp.175-200). Kuala Lumpur, Malaysia: IIUM – IRTI.
Kamola Bayram is currently an Assistant Professor at KTO Karatay University, department of Islamic Economics and Finance in Turkey. She obtained her PhD in Islamic finance from the IIUM Institute of Islamic Banking and Finance (IIiBF) – (2017). She obtained her Master of Science (financial mathematics), also from International Islamic University Malaysia in 2013, and her BSc in Business Administration, from the Anadolu University, Turkey (2009). From 2017 to 2019 she served as a Project Director at the International Council of Islamic Finance Educators (ICIFE). She strongly believes that excellence in Islamic finance comes from an excellent education. She worked as an assistant professor at the IIUM Institute of Islamic Banking and Finance (IIiBF). She was attached to the Islamic Financial Services Board (IFSB) as a Research Fellow where she was involved into the developing of Stress Testing Framework for Islamic Banks. She currently serves as an editor of the Turkish Journal of Islamic Economics (TUJISE) and education sector correspondent at Islamic Finance News (IFN) where she contributes monthly articles on Islamic finance education.
E-mail: [email protected]
ةيقيبطحلا تايدححلاو ةيرظنلا تاروطحلا :يملاسالإ ليومحلا ميلعج
مريب لاوماك
تعماج ،يملاطالإ لٍىمخلاو داصخقالا مظق ،دعاظم ذاخطأ ياطسق
، اُكسج
.صلخحسلما تعانصل تٍسشبلا دزاىلما ثاجاُخحا تُبلخل ا ًدج مهم يملاطالإ لٍىمخلا مُلعح زود ربخعٌُ
يملاطالإ لٍىمخلا نٍىكج ضسغل بُلاطالأ نم دًدعلا ىلإ أجللا مج دقل .لٍىطلا يدلما ىلع
زداىك
:بُلاطالأ كلج تلثمأ نمو .يملاطالإ لٍىمخلا ثاظطؤم لمع تعُبط بطانُج ةدىجلا تُلاع تٍسشب داىلماو ،دعب نع ملعخلا جماسبو ،تصصخخلما لمعلا غزوو تُبٍزدخلا ثازودلاو ،تُعماجلا جماربلا لما ثاودنلاو ذفقو ام دودح يف .يسخالأ تثًدحلا تُنقخلا ملاعالإ لئاطوو ذهرتهالإ ىلع تحاخلما تعىنخ
تُفسصلما زاشدها دعب ثاُنُعظدلا يف أدب يملاطالإ لٍىمخلا عَزدج نأ سهظ زداصم نم تثحابلا هُلع ماع يفف .لودلا نم دًدعلا يف تُملاطالإ 1991
اًزيلامب تُلماعلا تُملاطالإ تعماجلا ذحسط م جماهربل
ماع لىلحبو ،يملاطالإ يلالما ماظنلاو تُملاطالإ تُفسصلما يقاظم داصخقالا ضىٍزىلاكب 7112
غلب م
الإ تُفسصلماو لٍىمخلاب قلعخج جماسب مدقُج يتلا ثاظطؤلما ددع تُملاط
866 ىلع تعشىم تظطؤم
28 مُلعخلا عاطق نأ َّلاإ ثاظطؤلما نم ربخعلما مجحلا اره دىجو عمو .ملاعلا لىح تفلخخم تلود
يملاطالإ لٍىمخلا لا
هجاىً لاصً
عضىلا تقزىلا لواندج .تظِئسلا ثاًدحخلاو اًاضقلا نم دًدعلا
تٍسظنلا نيب فلاخخالا شقانج ثُح ؛عاطقلا ارهل يلاحلا ىلع صاخ لكشب زيكرتلا عم قُبطخلاو
زيكرتلا عم تُعىنلا لباقم تُمكلا قاُط يف يملاطالإ لٍىمخلا مُلعح يف تظِئسلا ثاًدحخلاو اًاضقلا .دهجلا ارهل تُئاهنلا ةسمثلا لثمج يتلا تُملعلا ثاجسخلما ىلع تاملكلا ةلادلا
: ملاطالإ لٍىمخلا تمىظنم ،يملاطالإ لٍىمخلا مُلعح يرتمىُلببلا لُلحخلا ،ي
.
فينصث
:JEL A23, G20
فينصث
KAUJIE :
E0, J41, H1
