ISLAMIC ECONOMICS Theory and Practice

• Main Authors: Hassan, Abul 1973- (Author), Choudhury, Masudul Alam 1948- (Author)
• Format: Book
• Language: English
• Published: New York Routledge, Taylor & Francis Group 2019
• Subjects: Economics > Islamic countries; Economics > Religious aspects > Islam; Banks and banking > Islamic countries; Islamic countries > Economic policy
• Online Access: Click Here to View Status and Holdings.
• Physical Description: xxiv, 332 pages illustrations 24 cm
• Bibliography: Includes bibliographical references and index
• ISBN: 9781138362413; 9781138362437; 9780429432088

This book is a comprehensive study, which provides informed knowledge within the field of Islamic economics. The authors lay down the principal philosophical foundation of a unique and universal theory of Islamic economics by contrasting it with the perspectives of mainstream economics. The methodological part of the theory of Islamic economics arises from the ethical foundations of the Qur'an and the Sunnah (tradition of the Prophet) along with learned exegeses in an epistemological derivation of the postulates and formalism of Islamic economics. This foundational methodology will be contrasted with the contemporary approaches of the random use of mainstream economic theory in Islamic economics. The book establishes the methodological foundation as the primal and most fundamental premise of the study leading to scientific formalism and the prospect of its application. By way of its Islamic epistemological explanation (philosophical premise) in the form of logical formalism and the use of simple real-world examples, the authors show the reader that the scientific nature of economics in general and Islamic economics in particular rests on the conception of the scientific worldview.