Handbook on Islam and Economic Life is a unique study, one of the first of its kind to consider Islam within a broader economic sphere. Covering a wide breadth of topics and research, it explores how Islam impinges upon and seeks to shape major aspects of economic life including economic...

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The paper explains Riba, bank interest and the rationale of its prohibition starting from Shari‘ah and economic reasons through to the entire financial system and also highlights the impact of prohibition of Riba.

The practice of Islamic finance significantly departs from its theory. The survey addresses the causes of the dichotomy and offers alternative research approaches and themes that may in the future facilitate convergence of the practice with the theoretical aspirations - a transformation from...