Labor in an Islamic Setting: Theory and Practice (Islamic Business and Finance)

The Islamic labor market rests on the principles of the free market exchange of Islamic economics. Regrettably, the latter has failed to keep pace with the rapidly growing academic and professional developments of the former. Much of the published work within Islamic economics is idealistic if not radically ideological with little relevance to the Islamic labor market, leaving students of Islamic economics without a coherent body of economic theory to understand the practical objectives of Shariah that gives a sense of direction to the developments in this field. Drawing upon received sources of goals of Shariah, the authors present an independent academic work which:

• Emphasizes the common conceptual grounds of labor market behavior shared by the objectives of Shariah approach as well as the conventional approach to economics.



• Adopts standard tools of contemporary economics to explain the industrial relations.



• Extends the conventional scope of the labor market and forces of the labor market under the umbrella of Shariah.



• Enables readers and practitioners of Islamic economics to make economic sense of Shariah compliance and human resource development.



• Explains how the economics of Shariah is liable to offer moral guidance and a sense of direction to regulators and practitioners of the Islamic labor market.

Labor in an Islamic Setting will be of interest to postgraduate students, academics, middle and senior management in both the western and the Islamic business communities, researchers and policy makers.

Associate Professor Necmettin Kizilkaya is an Associate Professor of Islamic Law, Istanbul University, Turkey. He has also worked as a visiting fellow at Princeton University, Department of Near Eastern Studies and as a Visiting Scholar at Columbia University, Department of Anthropology. He has written several books and had a number of papers published in refereed journals in the fields of Islamic economics and Islamic law.

Professor Toseef Azid has 35 years’ experience in teaching at university level in different parts of the world (USA, UK, Brunei, Saudi Arabia and Pakistan) and research experience in forecasting models, development economics and Islamic economics. Currently he is working as Professor of Islamic Economics and Finance at College of Business, Qassim University, Saudi Arabia. He has published one book and more than 50 articles in refereed international journals as well as contributing numerous conference papers.