Contemporary Islamic Economic Thought

Contemporary Islamic economic thought has its roots in the Islamic revivalism of the twentieth century. Since the time of Prophet Muhammad, Muslims had a vibrant and dynamic civilization, where the economic life did go on both at the individual and collective level. While economics as a specialized field of social science that systematically studies and explores the economic dimensions of life is a modern phenomenon, economic thought as part of broader Islamic legacy continued throughout history. Contemporary Islamic thought has significantly benefited from modern economics, and a new field, Islamic economics, within Islamic legacy is shaping up.This chapter in an edited book provides a survey of contemporary Islamic economic thought, especially in the context of the development of the field of Islamic finance