A Modern Perspective of Islamic Economics and Finance

by Ahmet Suayb Gundogdu

Overview

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.

Product Details

ISBN-13:	9781789731408
Publisher:	Emerald Publishing Limited
Publication date:	02/05/2019
Series:	Emerald Points
Pages:	184
Product dimensions:	5.08(w) x 7.80(h) x (d)

About the Author

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 Universityand 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.

Table of Contents

PREFACE: LIZARD HOLE 
PART I. THE SHIP OF FOOLS 
PART II. THE MILKMAID AND HER PAIL 
PART III. CARAVAN
PART IV. ELEVEN ROUNDS
PART V. CONQUISTADOR
PART VI. THE MISER
PART VII. EXCEPT BY TAQWA

Editorial Reviews

Gundogdu develops a blueprint for Islamic economics and finance by starting at the grass roots of trade and commerce. Among his topics are Maqasid al-Shari'ah: the purpose of divine rules, the more probably origin of the monetary system, a tale of two cities: Singapore and Hong Kong, random walk versus Islamic reasoning, financing working capital, resolution of dissolution for Islamic capital markets, and complementary currency as an anti-venom.

Annotation ©2019

Gundogdu develops a blueprint for Islamic economics and finance by starting at the grass roots of trade and commerce. Among his topics are Maqasid al-Shari'ah: the purpose of divine rules, the more probably origin of the monetary system, a tale of two cities: Singapore and Hong Kong, random walk versus Islamic reasoning, financing working capital, resolution of dissolution for Islamic capital markets, and complementary currency as an anti-venom.

Annotation ©2019