A Modern Perspective of Islamic Economics and Finance
ISBN: 9781789731392
Platform/Publisher: Ebook Central / Emerald Publishing Limited
Digital rights: Users: Unlimited; Printing: Limited; Download: 7 Days at a Time
Subjects: Business/ Management; Economics;

Traditionally, academic reflections on Islamic economics and finance have relied on a misleading understanding of Maqasid Al-Shari'ah. Much of the current research on the subject dogmatically adheres to the teachings of classical Islamic philosophers and does not appeal to practitioners of economics and finance who are looking for guidance on practical application rather than academic verbosity.
This book aims to develop a blueprint for Islamic economics and finance by starting at the grass roots of trade and commerce. The majority of the world population, both in developed countries and emerging markets, have serious concerns over financial sustainability for themselves or their children. Islamic finance is meant to support an economy through genuine transactions and fulfil a duty to achieve a fair and prosperous society. Unfortunately, the industry has failed to fulfil this proposition and converged to conventional systems that do not link to the wider economic priorities of Islam. This book positions Islamic finance within the economic priorities of Islam while providing a cohesive understanding of Islamic economics and finance in a clear and practical manner. In doing so, the book provides the to-dos and not-to-dos of Islamic economics and finance, and instigates an Islamic monetary system in which people, not central banks, create money as long as they produce things demanded by other people.

Ahmet Suayb Gundogdu is an accomplished and internationally experienced seeker of knowledge with a first-class academic grounding in international trade, finance and economics. Currently working for the Islamic Development Bank Group, he holds a BA in International Trade from Bogazici University and an MA in International Development from the International University of Japan. He completed his PhD in Islamic Finance at Durham University, UK. Gundogdu has held several positions within IDB Group; he served as a Senior Program Manager and Country Representative at Islamic Solidarity Fund for Development, and managed a portfolio of about $1 billion at the International Islamic Trade Finance Corporation. Presently, he is Senior Technical Specialist of Chief Economist & Director General of Global Practices at Islamic Development Bank, and Associate Professor of Finance at Istanbul Zaim University. He has developed new Islamic finance products that are implemented and recognized by the finance industry with international awards.

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