Islamic Financial Economy and Islamic Banking, is a thorough, deeply conceptual, analytical and applied work in the area of epistemological foundation of Islamic world-system. The book presents a new frontier of original contribution to the theme of generalized-system model of shari’ah. The model, derived from the Qur’an and Sunnah (Prophetic guidance) incorporates a wide analytical cove…
Islamic finance’s phenomenal growth owes to the Shariah compliant nature of its financial instruments. Shariah forbids the charging of interest (Riba) and instead promulgates risk-sharing and trade-based modes of financing. The Islamic financial industry has been subject to both critique and admiration. Critics argue that Islamic instruments (bearing debt-based structures) differ from their c…
Traditionally, academic reflections on Islamic economics and finance have relied on a misleading understanding of Maqasid Al-Shari’ah. Much of the current research on the subject dogmatically adheres to the teachings of classical Islamic philosophers and does not appeal to practitioners of economics and finance who are looking for guidance on practical application rather than academic verbosi…
Under the rule of the current economic order, social injustice is ever-increasing. Issues such as poverty, inhumane working conditions, inadequate wages, social insecurity and an unhealthy labor market continue to persist. Many states are also unable to produce policies capable of resolving these problems. The characteristics of the capitalist system currently render it unable to provide social…
World of Islam 2
Islamic finance often faces numerous challenges in a dynamic marketplace. This book aims to discuss contemporary issues and challenges in Islamic finance to inform discussions surrounding the governance system, the Islamic legal system, prudential regulations, Islamic home financing, and Islamic microfinance. Furthermore, corporate social responsibility (CSR), Islamic accounting, risk managemen…
Cosmopolitan ideals and pluralist tendencies have been employed creatively and adapted carefully by Muslim individuals, societies and institutions in modern Southeast Asia to produce the necessary contexts for mutual tolerance and shared respect between and within different groups in society. Organised around six key themes that interweave the connected histories of three countries in Southeast…
This book offers an alternative framework for macroeconomic policy in Malaysia, derived from the universal principles of social justice espoused in the objectives of the Shariah. It attempts to holistically analyze issues related to public finance, which has been criticized for lack of transparency and justice in wealth distribution. This book explores these criticisms and discusses the princip…
Integrating the Islamic faith with modern psychotherapy is at the forefront of the spiritually integrated psychotherapy movement. To bring this work to wider attention and to promote its continuation, Dr. Carrie York Al-Karam has brought together the present volume of nine essays, each of which is written by a Muslim clinician who practices Islamically integrated psychotherapy (IIP)--a modern a…
The phenomenal growth of Islamic finance in the last few decades has been accompanied by a host of interesting questions and challenges. One of the critical challenges is how Islamic financial institutions can be motivated to participate in the 'equity-like' profit-and-loss sharing (PLS) contracts. It is observed that Islamic banks are reluctant to participate in the pure PLS scheme which is ma…
Editor: Orkhan Mir-Kasimov What are the mechanisms of change and adaptation in Islam, regarded as a living organism, and how do they work? How did these mechanisms preserve the integrity of Muslim civilization through the innumerable hazards, divisions and devastations of time? From the perspective of history and intellectual history, this book focuses on a significant, though still largely …