Handbook on Islam and Economic Life

This volume presents carefully selected research by reputed scholars on diverse topics dealing with the economic life of Muslims.

The book provides a perspective not only on key aspects of the moral economy but also on the behaviour and expectations of economic agents. The distinguished editors have made a valuable contribution by expanding the scope of typical Islamic economics literature and by including topics dealing with the day-to-day life of Muslim society.

Handbook on Islam and Economic Life is a unique study, one of the first of its kind to consider Islam within a broader economic sphere. Covering a wide breadth of topics and research, it explores how Islam impinges upon and seeks to shape major aspects of economic life including economic organisation, business and management, finance and investment, charity, mutuality and self-help, and government. It concludes by analysing the link between religion and development, the present economic situation in Arab countries and the causes of underdevelopment in Muslim countries. According to the most recent Pew Forum on Religion and Public Life, nearly one in four people in the world are Muslim. In light of these numbers, Handbook on Islam and Economic Life is one of the first books to consider Islam within a broader economic sphere by focusing on the ways in which Islam shapes and interacts with the economy.

With contributions from leading scholars, this unique Handbook explores how Islam impinges upon and seeks to condition major aspects of economic life including economic organisation, business and management, finance and investment, charity, mutuality and self-help, and government. It concludes by analysing the link between religion and development, the present economic circumstances in Arab countries and the vexed issue of the origins and causes of underdevelopment in Muslim countries.

Covering a breadth of topics and research, this book will be essential reading for academics in both Muslim and western universities, graduates and postgraduates of Islamic studies as well as Islamic and other research institutes.

Table of Contents

1. Islam, The Economy and Economic Life by M. Kabir Hassan and Mervyn K. Lewis

PART I: DEVELOPMENTS IN ISLAMIC ECONOMICS
2. Muslim Contributions to Economics Science by Abdul Azim Islahi

3. Islam Versus Economics by Asad Zaman

4. Methodology of Islamic Economics by Muhammad Nejatullah Siddiqi

5. Analytical Tools of Islamic Economics: Choice and the Equi-Marginal Principle by Habib Ahmed

PART II: THE PROBLEM OF INTEREST
6. Riba, Time Value of Money and Discounting by Shamim A. Siddiqui

7. Riba in Islamic Economics and Finance by Monzer Kahf

8. Structural Compliance of Islamic Finance with Qur’anic Exegesis by Azeemuddin Subhani

PART III: ECONOMIC ORGANIZATION
9. The Halal Food Industry by Joe M. Regenstein, Mian Nadeem Riaz, Muhammad Chaudry and Carrie E. Regenstein

10. A Socio-Economic Profile of Muslim Countries by Mohamed Ariff and Meysam Safari

11. Female Labor Force Participation in Islamic Countries by Ismail H. Genc, George Naufal and Bassam Abu Al-foul

PART IV: BUSINESS AND MANAGEMENT
12. The Islamic Accounting Triangle: Measurement, Disclosure and Enforcement by Roszaini Haniffa and Mohammad Hudaib

13. Principles of Islamic Corporate Governance by Mervyn K. Lewis

14. Economics and Morality from an Islamic Perspective by Rodney Wilson

15. The Islamic Position on Corruption by Zafar Iqbal and Mervyn K. Lewis

PART V: FINANCE AND INVESTMENT
16. The Islamic Debate on Derivatives by Andreas A. Jobst

17. Meeting Expectations: The Roles and Responsibilities of Shari’ah Scholars in Islamic Finance by Mohamad Akram Laldin and Hafas Furqani

18. Moral Hazard in Islamic Profit-loss Sharing Contracts and Private Equity by Ouidad Yousfi and M. Kabir Hassan

19. Globalizing Islamic Investment Funds by Nurul Aini Muhamed and Mervyn K. Lewis

20. The Regulation and Supervision of Sukuk in Global Capital Markets by Umar A. Oseni and M. Kabir Hassan

21. Islamic Micro-financing by Adewale Abideen Adeyemi and M. Kabir Hassan

PART VI: CHARITY, MUTUALITY AND SELF-HELP
22. Poverty and Social Security in Islam by Abdul Ghafar Ismail and Bayu Taufiq Possumah

23. Zakat and the Economy by Zafar Iqbal and Mervyn K. Lewis

24.The Gift Economy: Waqf in the Islamic World today by Tunku Alina Alias

PART VII: GOVERNMENT
25. The Economic Role of the State in Islam by Murat Çizakça

26. Political Authority in Islam by Muqtedar Khan

27. Budget Deficit and Instruments of Public Borrowing in the Islamic System by Monzer Kahf

PART VIII: RELIGION AND DEVELOPMENT
28. Religion and Development by Volker Nienhaus

29. Islamic Institutions and Underdevelopment  by Jared Rubin

30. The Three Arab Worlds on the Eve of the ‘Arab Spring’  by James E. Rauch and Scott Kostyshak

31. An Islamic Perspective on the Global Financial Crisis and its Aftermath  by Mervyn. K. Lewis

Bibliographic Information

Title: Handbook on Islam and Economic Life

Editors: M. Kabir Hassan and Mervyn K. Lewis

Publisher: Edward Elgar Pub

 Language: English

Length: 720 pages

ISBN: 978 1 78347 981 8

Pub. Date: 2014