Contemporary Islamic Economic Thought

in Hunt-Ahmed, Karen (ed.). Contemporary Islamic Finance: Innovations, Applications, and Best Practices, John Wiley, pp. 19-37

23 Pages Posted: 3 Jul 2015

Date Written: 2013

Abstract

Contemporary Islamic economic thought has its roots in the Islamic revivalism of the twentieth century. Since the time of Prophet Muhammad, Muslims had a vibrant and dynamic civilization, where the economic life did go on both at the individual and collective level. While economics as a specialized field of social science that systematically studies and explores the economic dimensions of life is a modern phenomenon, economic thought as part of broader Islamic legacy continued throughout history. Contemporary Islamic thought has significantly benefited from modern economics, and a new field, Islamic economics, within Islamic legacy is shaping up.

This chapter in an edited book provides a survey of contemporary Islamic economic thought, especially in the context of the development of the field of Islamic finance

Keywords: Islamic economics, Islamic finance, Islamic banking, Masudul Alam Chowdhury

JEL Classification: B29

Suggested Citation

Farooq, Mohammad Omar, Contemporary Islamic Economic Thought (2013). in Hunt-Ahmed, Karen (ed.). Contemporary Islamic Finance: Innovations, Applications, and Best Practices, John Wiley, pp. 19-37, Available at SSRN: https://ssrn.com/abstract=2623786

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