The authors provide a comprehensive background for recent international financial crises--rapid expansion of interest-bearing debt and monetary expansion though the fractional reserve banking system. In this context, the authors provide an analysis of the experience and issues associated with...

Introduction : the significance of policy -- Institutional perspective of Islamic economics -- Economic and social justice : a policy objective in Islam -- Risk sharing finance and the role of public policy -- Lessons from financial crisis : a policy failure? -- Financial and capital market...

In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Quran and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...

In an Islamic economy, the financial sector functions to support the real sector. There are no interest rate based debt instruments. Financial assets are based on risk and return sharing and are contingent claims. Real as well as monetary forces determine the rate of return. As in traditional...

In this paper, the foundational rules governing human, economic and financial development in Islam, as understood from the Qur'ān and from the life and traditions of the Prophet Muhammad (pbuh), are summarized. These rules pave the path to development as the basis of institutional structure,...

Foreword -- Acknowledgements -- Contents -- List of Tables -- 1 Introduction -- Orientalism and Ersatz Islam -- Weber, New-Orientalism and Ersatz Islam -- Secularism and the New-Orientalism -- Ersatz Islam, "Islamic Law," Shari'ah, and Islamic Jurisprudence (Fiqh) -- Ersatz Islam and the Marxist...