What is Wrong with Islamic Economics?

Muhammad Akram Khan

ISBN 10: 1782544143 / ISBN 13: 9781782544142

Published by Edward Elgar Publishing Ltd Mär 2013, 2013

About this Item

Neuware - What is Wrong with Islamic Economics takes an objective look at the state of the art in Islamic economics and finance. It analyses reasons for perceived stagnation and also suggests a way forward.

Seller Inventory # 9781782544142

Bibliographic Details

• Title: What is Wrong with Islamic Economics?
• Publisher: Edward Elgar Publishing Ltd Mär 2013
• Publication Date: 2013
• Language: English
• ISBN 10: 1782544143
• ISBN 13: 9781782544142
• Binding: Buch
• Condition: Neu
• Dimensions: 234W x 156H x 48D millimeters 234 millimeters width by 156 millimeters height by 48 millimeters depth
• Weight: 1118 grams

About this title

Synopsis

'I read with great interest the current state of Islamic economics and finance as examined by Muhammad Akram Khan, who has given a fresh outlook for the readers to find out its limitations and to search for its solutions. Khan has read widely in the subject matter, and presented his views with reference to literature and thoughtful and logical arguments. While many may not agree with his arguments or will have a better explanation, I find his arguments at least worthy of examination to strengthen the arguments of those who might oppose him. Although Khan is critical of the subject matter, he is very sympathetic to the greater objectives of Islamic economics and provides his own prescriptions to achieve those objectives.'
- M. Kabir Hassan, University of New Orleans, US

What is Wrong with Islamic Economics? takes an objective look at the state of the art in Islamic economics and finance. It analyses reasons for perceived stagnation and also suggests a way forward.

As well as probing various myths, the book presents several innovative ideas and a methodology for developing the subject on new foundations. It also highlights weaknesses in the conventional position on prohibition of interest, which has led Islamic banks devise a series of legal tricks. The author notes how the original aim of devising a new brand of banking has become less prominent whilst Islamic banks now position themselves more closely to conventional banks. The book also offers insights into how certain traditional thinking has seemingly ignored the egalitarian spirit of the law of zakah and created a scenario where zakah is not able to help the billions of poor people around the globe.

This detailed book will appeal to students, professors, researchers, Islamic banks and finance houses, consulting companies, accounting firms, and regulatory bodies. Professional economists, libraries in research and training organizations, as well as anyone with a general interest in the topic will find much to interest them.

About the Author

Muhammad Akram Khan, Former Deputy Auditor General of Pakistan (until 2003) and Chief Resident Auditor, UN Peacekeeping Missions (2003–2007)