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Economics of an Islamic Economy

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This book challenges the interventionist stance of Islamic economics as well as its presumption that riba equals interest. An Islamic economy, it argues, is essentially a market economy, but it dif...
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  • 07 December 2009
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This book challenges the interventionist stance of Islamic economics as well as its presumption that riba equals interest. An Islamic economy, it argues, is essentially a market economy, but it differs from capitalist economies because both its institutions and the structure of, for example, property rights are specifically Islamic, deriving from Qurʾān and other sources of Islamic law. The book also focuses on the similarities and differences between riba and interest, establishes the often neglected connection between the two, and explores the ramifications of this connection for Islamic financial systems.
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Price: $311.00
Pages: 470
Publisher: Brill
Imprint: Brill
Publication Date: 07 December 2009
ISBN: 9789004179370
Format: Hardcover
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“[Azhar] makes a good case in arguing that pro-market views are closer than those of anti-capitalist Islamic economists to mainstream Sunni jurisprudence…Recommended for comprehensive graduate, research, and professional collections.”P. Clawson, Washington Institute for Near East Policy, in CHOICE July 2010
Rauf A. Azhar , Ph.D. (1980) in Economics, McMaster University, currently teaches at Guelph University. He has previously taught at universities both in Canada and Pakistan, and has published articles in several journals, including Economic Development and Cultural Change.