This volume takes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical frameworks have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion also covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability and international trade. This work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.

"After delving into the problems of the present monetary system, it then argues how a return to a gold payment system - like the Islamic dinar - could solve many of the woes of today's economic system. A return to such a system is not only desirable from the economic, political, social and religious perspectives, but also urgent in the present era of globalisation and impending world recession, besides providing a conducive environment for Islamic economics, banking and finance to flourish." "Ahamed Kameel Mydin Meera is the Head of the Department of Business Administration, Faculty of Economics and Management Sciences, International Islamic University Malaysia, in Kuala Lumpur, Malaysia."--BOOK JACKET.

"This book describes how implementing Grondona's system could help individual countries to independently improve their economic stability, while creating a growing network of currencies between which the exchange-rates will become increasingly stable"--

The Economic System of Islam, is an English version of a lecture delivered in Urdu by Hazrat Mirza Bashir-ud-Din Mahmud Ahmad, the Second Khalifah Head of the Ahmadiyya Muslim Community to a gathering of academia in Lahore, Pakistan, in 1945. The book presents a detailed account of the teachings of Islam regarding the system of economics. It demonstrates that economic system of Islam is placed within the broader teachings of Islam, with the objective of attaining the pleasure of Allah and everlasting bliss in the Hereafter. It provides for a healthy and progressive society in which the basic needs of all are met, and incentives for achieving excellence are provided, with due regard to justice and fair play. The lecture then makes a critical evaluation of the economic aspects of Communism. It provides ample evidence that Communism has failed in its pretensions of promoting justice and equality both within its own borders and in international affairs. It brings out serious objections against Communism from a religious point of view, and cites three prophecies about the decline of Communism.

Provides a close analysis of theʿAqila, a group collectively liable for blood money payments, in Islamic law and history.

Gain deeper insight into the principles and theory of Islamic economics Introduction to Islamic Economics: Theory and Application provides an overview of the organizing principles and fundamentals of an Islamic economy. With deep discussion of the characteristics, rationale, key institutions, objectives, and instruments at work, the book addresses the core economic principles underlying a system based on the foundational teachings of Islam, and examines the implications for economic policies. Social welfare, economic justice, market functionality, efficiency, and equity are explored from an Islamic perspective, and the role and instruments of fiscal and monetary policy in Islamic systems are used to illustrate contemporary applications. Universities around the globe are offering courses on Islamic economics and finance, but despite the industry's rapid growth, most research has been focused on the financial principles rather than underlying economic principles. The first book of its kind, Introduction to Islamic Economics brings all the key concepts together into one reference volume. By outlining the ways in which Islamic finance and Islamic economics interrelate, this book can help readers to: Develop an understanding of the Islamic economic system and its institutional scaffolding Differentiate between the major characteristics of the dominant conventional economy and one based on the fundamental sources of Islam Understand the conditions that must be met for a just, well-balanced, stable, and growing economy Clarify the role of State, public policy, and risk-sharing in the Islamic financial system The Islamic financial system is expanding quickly, and those looking to increase their relevance in a changing economic landscape must get up to speed. Introduction to Islamic Economics provides a comprehensive overview of underlying economic system offering a deeper understanding of the feature of the system. This book is an excellent complement to Introduction to Islamic Finance, 2E by Iqbal and Mirakhor.

High rates of divorce, often taken to be a modern and western phenomenon, were also typical of medieval Islamic societies. By pitting these high rates of divorce against the Islamic ideal of marriage,Yossef Rapoport radically challenges usual assumptions about the legal inferiority of Muslim women and their economic dependence on men. He argues that marriages in late medieval Cairo, Damascus and Jerusalem had little in common with the patriarchal models advocated by jurists and moralists. The transmission of dowries, women's access to waged labour, and the strict separation of property between spouses made divorce easy and normative, initiated by wives as often as by their husbands. This carefully researched work of social history is interwoven with intimate accounts of individual medieval lives, making for a truly compelling read. It will be of interest to scholars of all disciplines concerned with the history of women and gender in Islam.

With the impressive emergence of Islamic finance as a branch of Islamic economics, the need for a solid knowledge base that encompasses theories, thoughts and applications related to the subject increased in importance. However, writing about Islamic economics is a great challenge due to the differences in opinion on many of its issues. This includes methodologies for determining the Islamic perspective on economic concepts and issues as well as applicable solutions for today’s economic and social problems. It is further argued that Islamic economics topics are not as clear as those in conventional economics as they have their own religious, spiritual and social dimensions. The points of controversy have generated lengthy discussions. Moreover, Islamic economics encompasses a vast array of topics and approaches, from the purely theoretical, which may include philosophy or religious ideas, to mathematical and quantitative analyses. We tried our best throughout this textbook to simplify, clarify and summarise these concepts to make them accessible to all readers including students, practitioners, academics and even interested non-specialists. This textbook presents, discusses and analyses various topics and issues related to Islamic economics ranging from philosophical, epistemological and methodological to microeconomic and macroeconomic perspectives. In this endeavour, the social aspect of Islamic economics—an essential part of the discipline—is not neglected. The textbook compares Islamic ideas and concepts related to economics with those in conventional economics to highlight Islamic economics as a distinct field of knowledge with an emphasis on the ethical and social aspects. The authors have tried their level best to explain the theoretical concepts as simply as possible without ignoring today’s realities and without compromising Sharīʿah principles and objectives. One of the main objectives of the book is to provide the reader with Islamic economic ideas and solutions that are realistic and applicable within the current highly globalised economic and business environment, which is largely dominated by conventional interest-based systems and institutions. Despite being written for an elementary-level audience, this textbook can also be beneficial to a wide range of specialist and non-specialist readers and seekers of knowledge. For those specialising in Islamic economics, it is an appropriate source of reference to gain an overview on different topics relating to the foundations of Islamic economics. At this point, however, it must be mentioned that each topic deliberated upon, by its nature, would require a book on its own to cover all its aspects. Therefore, further exploration is required for Islamic economics specialists. A list of references and recommended readings is provided for that purpose at the end of each chapter. On the other hand, students of mainstream economics, finance and other academic majors will find this textbook an excellent resource for comprehensive knowledge of Islamic economics and its related issues. Universities may benefit from the different topics presented in this textbook in designing or preparing their economics courses at different levels based on their own curriculums and classes. This textbook could be used at the undergraduate level or even for a master’s level economics or Islamic economics course, especially in an Islamic banking and finance programme or for an MBA having a specialisation in Islamic banking and finance where an economics or Islamic economics course is offered. Furthermore, practitioners and interested readers who are seeking essential and simple knowledge about Islamic economics will also find this textbook to be a helpful guide. It is important to mention here that Islamic economics literature shows wide differences among the scholars in almost every subtopic. Presenting all opinions within a limited number of pages is almost impossible. However, with the great contribution of more than 60 scholars from a wide span of countries and from various economic schools, this book represents an important attempt to present the topics and issues from various perspectives with the maximum objectivity possible. Through comprehensive content editing, the editors have striven to improve the flow of arguments, remove inconsistencies and put the ideas together in as coherent a manner as possible. However, the editors acknowledge that some biases and overlaps may still persist.

America’s leading religious scholar and public intellectual introduces lay readers to the Qur’an with a measured, powerful reading of the ancient text Garry Wills has spent a lifetime thinking and writing about Christianity. In What the Qur’an Meant, Wills invites readers to join him as he embarks on a timely and necessary reconsideration of the Qur’an, leading us through perplexing passages with insight and erudition. What does the Qur’an actually say about veiling women? Does it justify religious war? There was a time when ordinary Americans did not have to know much about Islam. That is no longer the case. We blundered into the longest war in our history without knowing basic facts about the Islamic civilization with which we were dealing. We are constantly fed false information about Islam—claims that it is essentially a religion of violence, that its sacred book is a handbook for terrorists. There is no way to assess these claims unless we have at least some knowledge of the Qur’an. In this book Wills, as a non-Muslim with an open mind, reads the Qur’an with sympathy but with rigor, trying to discover why other non-Muslims—such as Pope Francis—find it an inspiring book, worthy to guide people down through the centuries. There are many traditions that add to and distort and blunt the actual words of the text. What Wills does resembles the work of art restorers who clean away accumulated layers of dust to find the original meaning. He compares the Qur’an with other sacred books, the Old Testament and the New Testament, to show many parallels between them. There are also parallel difficulties of interpretation, which call for patient exploration—and which offer some thrills of discovery. What the Qur’an Meant is the opening of a conversation on one of the world’s most practiced religions.

This book not only sees the implementation of zakat from a religious perspective, but also from an economic perspective. Zakat practice should not separate between values, religious rules, and implementation so that they can connect and correct each other. From a religious perspective, this book describes the aspects of jurisprudence and the laws of implementation of zakat. Whereas from an economic point of view, this book reviews how the impact of zakat on the economy. Therefore, this book provides a comprehensive picture of the practice of zakat, both from the position of zakat as a form of ritual worship (Habluminallah) and the position of zakat as a form of social worship (Habluminannas).