Finance & Economics

An introduction to the Islamic economic system and its comparison to both capitalism and socialism. The author taught at Qatar University for twenty years and is the General Secretary of the International Union of Islamic Scholars. It discusses the foundations and basic principles of both capitalism and socialism and shows what is wrong with them and how the Islamic system solves the problems created by them.

A collection of articles aimed at providing basic information about the principles of Islamic finance and modes of financing. Deals with practical issues.

The principles discussed are universal although the examples given are from South Africa.

Understand the real cause of the financial crisis that is engulfing the world today. This book provides a penetrating look at the banking industry and its role in spreading injustices and misery in the world. Usury is the backbone of modern economic life. See how it, and the mindset behind it, have caused grave damages to the humanity in every walk of life.

Due to significant changes that have taken place in the nature and essence of money and monetary value, and the dominance of interest-based debt financing, the nature of capital and sharing of profit and loss have become complex issues. The book analyses in detail the practical relevance of these in the operation of Islamic financial institutions, and attempts to provide some new insight on the relevant shari‘ah regulations. It studies capital in joint ventures financed by Islamic banks, and scrutinises the method currently used by Islamic banks for determining the profit sharing ratio between the bank and the client.

This book is an English rendering of a popular Arabic book entitled Mushkala al-Faqr wa Kaifa ‘Aljiha al-Islam by the renowned Muslim Scholar ‘Yusūf al-Qardāwi. The author depicts the basic principles of the Islamic Economic System in the light of the Holy Qur’an and the Sunnah.

A systematic and rigorous exposition of various aspects of the economics of Islam. These essays not only provide an overview of the various dimensions of Islamic economics but also convincingly establish the viability of the application of these concepts in the contemporary set-up.

Precisely the kind of book that Western economists have been waiting for because it presents Islamic economics on a level playing field with Keynesian and neo-classical economics… Professor John Presley, University of Loughborough, U.K

These two volumes are translations of volume 5 and 6 of Dr. Wahbah Al-Zuhayli's much celebrated Al-Fiqh Al-Islami wa Adillatuh. Translation was done by Mahmoud El-Gamal, Ph.D and revised by Muhammad S. Eissa, Ph.D.

A collection of 41 articles on critical subjects. Most articles deal with fiqh but others deal with other important subjects as well for example criticism of Perennial philosophy of Martin Lings, Detailed account of a lesser known part of India history dealing with the movement of establishing a Shariah governorate for India (proposed and actively pursued by Abul Kalam Azad), history of qira'at, commentary on the hadith that the Qur'an was revealed on seven huroof, and what is meant by Ism A'zam. Many of the fiqhi articles deal with new medical issues (cloning, cosmetic surgery, test tube babies, organ transplants, artificial insemination) and finance (multi-level marketing, foreign exchange, feudalism, charging interest in darul harb, copyrights, Islamic banking etc.).

A response to questions about and criticism of prevalent Islamic Banking practices.

In trade and business two Islamic prohibitions are paramount. One is riba, the other is gharar or uncertainty. While most people know something about the former, the latter remains generally ignored. This is a first ever book in Urdu on this important topic. It grew from a paper the author had written as part of his studies at Darul Uloom Karachi, where he now teaches. An In depth scholarly treatment that refers to both classical as well as modern resources (in English, Arabic, and Urdu) on the subject. A must-read for those interested in Islamic Economics and finance.

This is a little known book by Iqbal and one of the early books on economics in the Urdu language. Written as a textbook and derived from English textbooks of the time, it does include some independent opinions of Iqbal as well on the subject.

A collection of Mufti Taqi Usmani's writings and talks on Islamic economics. A half century's work, sorted by Mufti Mahmood Ahmed, Darul Ifta Jamia Ashrafiya Lahore.

Learn the permissible and impermissible forms of leasing and the major and subtle differences between them.

Suk (plural: Sukook) is the term used for bonds and certificates. This book is in two parts. Part 1 is an introduction to sukook. Part 2 discusses author's reservations about them.

A valuable treatise on a mode of Islamic Financing known as Murabaha. Explains all technical and practical aspects relating to murabaha in an easy to understand language.

Is there any such thing as Islamic banking? There are people who are saying that it is just a new label for the same old conentional interest based banking. Here is an examination of these arguments. An evaluation of the criticism of current Islamic banking theories and practices.

Revised and updated edition of Mezan Bank's guide to Islamic Banking. Based on lecture notes and handouts prepared for a comprehensive training course for the staff of Meezan Bank. Topics include Islamic contract, modes of financing, and investments.

This book has become a main textbook for studentrs of Islamic finance in various institutions of higher learning.

The recent decades have witnessed a strong assertion of Islamic identity. One of its manifestations is the insistence on the part of Muslims that all institutions of life should be brought in conformity with Islamic principles. In this work, the author attempts to spell out the Islamic principles on which business enterprise should be based specially in the area of partnership. In this exercise, he displays a strikingly acute awareness of Islamic laws on the subject. This, however, is matched by an equally striking awareness of the forms of business organization in vogue in the contemporary world. The work represents a serious scholarly effort to sort out complicated questions such as those mentioned above, to enunciate Islamic principles relative to business enterprise, and to apply them in the changed context of present-day business.

This book takes a critical look at some of the positions taken by Justice Mufti Taqi Usmani on such issues as corporation as a legal person, shares, Islamic banking, credit cards, and takaful. While its tone could be better, it still raises some questions that need to be debated openly to advance the state of knowledge in this emerging field.

Part of Ihya Uloom al-Deen (Revival of Religious Sciences), this book deals with the lawful and unlawful in consumption and financial transactions.

Learn the permissible and impermissible forms of leasing and the major and subtle differences between them.

Survey of Islamic sciences regarding economics and finance, with emphasis on recent developments and a discssion of where do we go from here.

Presents an important subject against the background of the collapse of state-managed economics. Articles included in this collection discuss how Islam seeks to orient economic agents towards ethical and socially responsible behavior.

This work examines the business practices obtaining in the early period of Islam and highlights the legal principles which emerge therefrom. The subject is approached from the perspective of history, economics, law, market management, religion and ethics. The author deals in detail with the concept of bay' (sale), as developed by early jurists, and examines the chronological phases of its growth during the period of the Prophet and subsequently his companions and successors.

Originally published nearly a half century ago, this book remains one of the best known books by Syed Abul A'la Mawdudi. Also includes the full essay of Maulana Manazir Ahsan Gilani arguing for the permissibility of interest in India (darul Harb) and its rebuttal by Maulana Mawdudi. An important source book on riba.

Translation by Imran Ashraf Usmani.

Discusses problems with prevalent insurance system and describes Takaful, its Islamic alternative.

Kitab al-Amwal (The Book of Revenue) is the work of a brilliant legal mind. Abu Ubayd al-Qasim ibn Sallam provides us with an accurate record of legal precedents laid down in the first two centuries of Islam, in particular those pertaining to the sources of revenue and the avenues of public expenditure. The power of the book, however, lies in the method of the author and the analysis undertaken by him. He gathers together the traditions of the Prophet (Sall-Allahu alayhi wa sallam), the opinions of his Companions and the views of eminent jurists, and then subjects them to legal analysis that is unparalleled in Islamic legal literature.

A broad introduction to Islamic commercial law. An indispensable source for Muslim businessmen as well as students of business. See the table of contents for details.

There is unanimous agreement among Muslim jurists that riba is prohibited strictly by the texts of the Qur’an as well as by those of the Sunnah. When it comes to the identification of the transactions that would fall under the prohibition of riba, however, there is some disagreement among the scholars. Hopefully this book will enrich the debate about Islamic banking by raising new issues.

Causes and Remedies of the Recent Financial Crisis From an Islamic Perspective As the leading authority on modern Islamic finance in the world today, no one was better qualified to speak for Islam at the annual World Economic Forum following the global financial crisis in 2010. In his address, Mufti Taqi Usmani pointed out that the so-called crisis only came about when it knocked at the doors of the wealthy.' Otherwise, as Mufti Usmani astutely points out, the true crisis is ongoing and unless fundamental changes are made to the worlds economic system, that crisis will continue. In the pages of this slim volume, the reader will find a concise study of the fundamental flaws in the global economic system, and the eternal principles articulated by the Shariah of Islam that point to a solution. - Yusuf Talal DeLorenzo, Shariah Consultant to Global Financial Institutions Mufti Taqis paper, written in the context of global financial crisis, calls for universal change in our attitude toward the treatment of money and the role of financial system in our lives. His is a timely call for overhauling the economic system based on values and principles. A must read for all who are concerned about the current affairs of our financial system. - Nazim Ali, Director, Islamic Finance Project, Harvard Law School | Harvard University.

Includes detailed discussion about the definition of riba, commercial riba, riba in the pre-Islamic period, as well as its prohibition in Qur'an and Hadith.

Can Pakistan (or any Muslim state for that matter) enter into riba based financial transactions with foreign entities? Three petitions were brought up before the Shariat Bench of the Supreme Court of Pakistan in 1991. Justice Dr. Tanzilur Rehman wrote the judgment which is contained in this very valuable book. Unfortunately (but unsurprisingly) mysterious hands stopped the Judgment from being delivered. But the arguments contained here will be of great interest to students and scholars everywhere.