Maqasid Foundations of Market Economics (Edinburgh Guides to Islamic Finance) - Hardcover

El-Din, Seif Ibrahim Tag

Hardcover

ISBN 10: 0748670025 ISBN 13: 9780748670024

Publisher: Edinburgh University Press, 2013

Synopsis

Explains the exchange economics behind the Shari'ah compliance conditions of Islamic financeDrawing on received sources of 'maqasid' (Shari'ah's practical objectives), this book demonstrates how the principles of market economics affect how markets and financial instititions actually operate under Shari'ah law. It shows where Islamic economics converges with and differs from conventional economics through the banning of usury and other Shari'ah-prohibited trade practices.Islamic finance rests on the principles of free market exchange of Islamic economics. But the latter has failed to keep pace with the rapid developments of the former. Much work published about Islamic economics is at least idealistic if not radically ideological, with little relevance to the Islamic financial industry. This book provides the coherent body of economic theory that students and practitioners of Islamic finance need in order to understand how the maqasid gives a sense of direction to developments in the industry.

About this title

About the Author:

Seif Ibrahim Tag el-Din is Professor of Economics at the Imam University, Riyadh

About this edition

• Publisher: Edinburgh University Press
• Publication date: 2013
• ISBN 10: 0748670025
• ISBN 13: 9780748670024
• Binding: Hardcover
• Edition number: 1
• Number of pages: 248