The evolution of the western concept of development -- Development as human wellbeing -- The foundational elements of development in Islam -- The dimensions of development in Islam -- The institutional structure of development in Islam

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...

"This book provides an introduction to the vision of an economic system based completely on the Holy Qur’an—a system defined as a collection of institutions, representing rules of behavior, prescribed by Allah for humans, and the traditions of the Messenger. The authors argue that the main...

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...