Leading Issues in Islamic Economics and Finance Critical Evaluations

The book discusses leading issues in Islamic economics and finance that continue to remain in a fluid, non-consensual state in the profession. It examines the nature and significance of Islamic economics. The book deals with the mainstream topics including growth, environment, distributive justice, monetary policy, risk treatment, methodology and Basel Accords to rehabilitate them for the Islamic discipline within the framework of scarcity, self-interest and gain maximization. Further, it explores the role of the state in directing the economy toward achieving Islamic goals of development and welfare.

Chapter 1: The Nature and Significance of Islamic Economics: Integrative Approach.- Chapter 2: Scarcity Self-Interest and Maximization: ­­­­­Efficacy For Islamic Economics.- Chapter 3: Islam and Economic Development: Mundane Effort for Spiritual Solace.- Chapter 4: Growth Versus Environment: Pollution and Its Mitigation.- Chapter 5: Distributive Justice: Foundation and Measures.- Chapter 6: Consumption: Micro Foundations and Macro Modelling.- Chapter 7: Deficit Financing in Developing Countries: Applications and Consequences.- Chapter 8: Money: Evolution, Forms, and Expansion.- Chapter 9: Monetary Policy: Credit Creation and Control.- Chapter 10: The Basel Accords and Islamic Banks.- Chapter 11: Systems’ Convergence: Boon or Bane?.- Chapter 12: Risk and Islamic Finance: Correction of a Misconception.- Chapter 13: Home Financing Models: Shari’ah Compliance?.- Chapter 14: Methodology and Islamic Economics: Efficacy of Discussion.- Chapter 15: Issues in Profit Measurement:  Accountants Versus Economists.

Zubair Hasan is an Indian economist. His teaching research and consultancy work spans over 58 years. During this period, he worked at the University of Delhi, Basra University of Iraq, international Islamic University of Malaysia and INCEIF, the Global University of Islamic finance, Kuala Lumpur. During this period he won several academic awards; the main ones being the Islamic Development bank’s coveted Prize in Islamic economics (2009) and the OIC Comsec Academic Award 2014. During his long academic career Prof. Hasan published eight books and wrote over 125 working papers and articles in the area of Islamic economics and finance.