Description
Book SynopsisThis illuminating and thought-provoking book questions whether classical Islamic capitalism, which has served Muslims so well for centuries, can provide a viable alternative world economic system.
Trade Review'It was a humbling experience to read the product of such a remarkable feat of scholarship. It is all at once an exploration in analytic history and a complete text of Islamic finance theory and application. It is also one of the most succinct renditions of evolution of Islamic finance embedded in comprehensive account of particularities of economies as diverse as Malaysia and Turkey. This is a unique contribution to Islamic finance and Islamic economic history. It has been a rewarding learning experience. It is truly a breathtaking effort.' --Abbas Mirakhor, former IMF Executive Director and the recipient of the Islamic Development Bank Prize in Islamic Economics (2003)
'[A] well-written and well-documented work about the economic aspects of Islam since its beginnings.'
--Hamid Hosseini, Journal of the History of Economic Thought
Table of ContentsContents: Foreword Introduction Part I: Value Systems Behind Institutions 1. Two Approaches to Islamic Economics and Finance 2. Basic Principles of Islamic Capitalism Part II: Historical Institutions of Private Enterprise: Capital Accumulation 3. Financing the Entrepreneur: The Medieval Islamic Business Partnerships 4. Evolution of Medieval Islamic Business Partnerships in the Islamic World and the West 5. Commerce and Commercial Institutions Part III: Historical Institutions of Capital Redistribution and Public Finance 6. Obligatory Redistribution of Wealth: Taxation and Institutions of Tax Collection, the Origins of Modern Sukuk 7. Voluntary Redistribution of Wealth (The Waqf) Part IV: Islamic Capitalism and Finance Today 8. Waqfs of Stocks 9. The Birth and Evolution of Modern Islamic Banking 10. Borrowing from the Public: Sukuk 11. Takaful (Islamic Insurance) 12. The Lembaga Urusan Dan Tabung Haji: Financing the Modern Pilgrimage Part V: Future of Islamic Capitalism and Finance 13. The Islamic Gold Dinar 14. Maqasid Al-Shari’ah and Islamic Banking 15. Venture Capital 16. Democracy and the Modern Islamic Capitalism Bibliography Index
