Parouse.com
 Parouse.com



Islamic economics
Islamic economics
(Arabic: الاقتصاد الإسلامي‎) is a term used to refer to Islamic commercial jurisprudence (Arabic: فقه المعاملات‎, fiqh al-mu'āmalāt), and also to an ideology of economics based on the teachings of Islam
Islam
that takes a middle ground between the systems of Marxism
Marxism
and capitalism.[1] Islamic commercial jurisprudence entails the rules of transacting finance or other economic activity in a Shari'a
Shari'a
compliant manner,[2][3] i.e., a manner conforming to Islamic scripture (Quran and sunnah). Islamic jurisprudence (fiqh) has traditionally dealt with determining what is required, prohibited, encouraged, discouraged, or just permissible,[4] according to the revealed word of God (Quran) and the religious practices established by the (Islamic) Prophet (sunnah). This applied to issues like property, money, employment, taxes, along with everything else. The social science of economics,[4] on the other hand, worked to describe, analyse and understand production, distribution, and consumption of goods and services,[5] and studied how to best achieve policy goals, such as full employment, price stability, economic equity and productivity growth.[6] In the mid-twentieth century, campaigns began promoting the idea of specifically Islamic patterns of economic thought and behavior.[7] By the 1970s, "Islamic economics" was introduced as an academic discipline in a number of institutions of higher learning throughout the Muslim
Muslim
world and in the West.[3] The central features of an Islamic economy are often summarized as: (1) the "behavioral norms and moral foundations" derived from the Quran
Quran
and Sunnah; (2) collection of zakat and other Islamic taxes, (3) prohibition of interest (riba) charged on loans.[8][9][10][11] Advocates of Islamic economics
Islamic economics
generally describe it as neither socialist nor capitalist, but as a "third way", an ideal mean with none of the drawbacks of the other two systems.[12][13][14] Among the claims made for an Islamic economic system by Islamic activists and revivalists are that the gap between the rich and the poor will be reduced and prosperity enhanced[15][16] by such means as the discouraging of the hoarding of wealth,[17][18] taxing wealth (through zakat) but not trade, exposing lenders to risk through Profit sharing and venture capital,[19][20][21] discouraging of hoarding of food for speculation,[22][23][24] and other sinful activities such as unlawful confiscation of land.[25][26] Critics (Timur Kuran, Feisal Khan) have described it as primarily a "vehicle for asserting the primacy of Islam", with economic reform being only a secondary motive.[27][28]

Contents

1 Definitions and descriptions

1.1 Fiqh
Fiqh
and Islamic economics

2 History

2.1 Pre-modern Muslim
Muslim
thought on economics 2.2 Development of "Islamic economics"

3 As an academic discipline

3.1 Achievements 3.2 Challenges

4 Property

4.1 Public property 4.2 State property 4.3 Private property

5 Markets

5.1 Interference

6 Banking and finance

6.1 Interest 6.2 Islamic public finance (Bayt-al-Mal) 6.3 Proposals

6.3.1 Savings and investment 6.3.2 Hybrids

7 Criticism and dispute 8 See also 9 References

9.1 Notes 9.2 Citations 9.3 Books, articles 9.4 Torts

10 External links

Definitions and descriptions[edit]

Part of a series on: Islamism

Fundamentals

Islam History Culture Economics Politics Secularism

Ideology

Islamism Qutbism Salafism Shia Islamism

Islamic fundamentalism

Concepts

Caliphate Islamic democracy Islamic socialism Islamic state

Islamic monarchy Islamic republic

Islamization (of knowledge) Jihad Pan-Islamism Post-Islamism Sharia Shura Slavery Two-nation theory Ummah

Influences

Anti-imperialism Anti-Zionism Islamic Golden Age Islamic revival

Movements Scholastic

Ahl-i Hadith Deobandi Madkhalism Sahwa movement Wahhabism

Political

Hizb ut-Tahrir Iranian Revolution Jamaat-e-Islami Millî Görüş Muslim
Muslim
Brotherhood List of Islamic political parties

Militant

Militant Islamism
Islamism
based in

MENA region South Asia Southeast Asia Sub-Saharan Africa

Key texts

Reconstruction of Religious Thought in Islam (Iqbal 1930s)

Principles of State and Government (Asad 1961)

Ma'alim fi al-Tariq ("Milestones") (Qutb 1965)

Islamic Government: Governance of the Jurist ("Velayat-e faqih") (Khomeini 1970)

Heads of state

Ali
Ali
Khamenei Omar al-Bashir Muammar Gaddafi Ruhollah Khomeini Mohamed Morsi Mohammad Omar House of Saud House of Thani Zia-ul-Haq

Key ideologues

Muhammad
Muhammad
Abduh Jamāl al-Dīn al-Afghānī Qazi Hussain Ahmad Muhammad
Muhammad
Nasiruddin al-Albani Muhammad
Muhammad
Asad Hassan al-Banna Necmettin Erbakan Rached Ghannouchi Safwat Hegazi Muhammad
Muhammad
Iqbal Ali
Ali
Khamenei Ruhollah Khomeini Abul A'la Maududi Taqi al-Din al-Nabhani Yusuf al-Qaradawi Sayyid Qutb Tariq Ramadan Ata Abu Rashta Rashid Rida Navvab Safavi Ali
Ali
Shariati Haji Shariatullah Hassan Al-Turabi Ahmed Yassin

Related topics

Criticism of Islamism Islam
Islam
and other religions Islamophobia Reform movements Modernity (Modernism)

Islam
Islam
portal Politics portal

v t e

According to Hasan Raza, after more than six decades of its formal/ informal existence, a consensus definition of Islamic economics
Islamic economics
has not yet emerged.[29] Some definitions that have been offered include:

"that branch of knowledge which helps to realize human well-being through an allocation and distribution of scarce resources that is in conformity with Islamic teachings without unduly curbing individual freedom or creating continued macroeconomic and ecological imbalances." ( Umar
Umar
Chapra)[30] (similarly, the "study of human behavior with regard to acquiring and using resources for the satisfaction of necessities, needs, and other desires," but "based on the assumptions" of the Islamic "outlook on life and humanity". (Monzer Kahf))[31] "the study of an ... economy which abides by the rules of the Shariah", i.e. an Islamic economy. (A definition used by some, according to M. Anas Zarqa)[32][33] a discipline that goes beyond the practice of Western economics—which seeks to make "positive analysis" and give an objective description of what is—to provide normative policy prescriptions of what ought to be and can be.[34] And which seeks to achieve a "transformation of human beings from followers of base desires to people concerned with achieving higher goals".[35] (Feisal Khan[34] describing the ideas of M.R. Zaman,[35] and also M.U. Chapra,[36] and M.N. Khan and M.I. Bhatti.)[37] "a discipline that is guided by the Shariah and studies all human societies" (A definition used by others, according to M. Anas Zarqa)[32][33] "restatements of Islamic economic teachings", using "modern economic jargon". (What most of the knowledge content in the body of Islamic economics amounts to according to economist Muhammad
Muhammad
Akram Khan)[38] an ideology

"a revolutionary ideology" to change "the corrupt reality ... into a pure one", and "not a science of political economy" or "an objective analysis of existing reality". ( Ayatollah
Ayatollah
Murtaza Mutahhari)[39] an "ideological construct" developed by 20th century Islamists (by Abul A'la Maududi, Ayatollah
Ayatollah
Muhammad
Muhammad
Baqir al-Sadr, Abolhassan Banisadr, etc.) taking basic prescriptions from sharia (Islamic law), and systematizing and conceptualizing them "to construct a coherent and functional ensemble offering a middle ground between the two systems of the twentieth century, Marxism
Marxism
and capitalism." (Social scientist Olivier Roy)[1]

Zaman(2015) [40] argues that confusion regarding appropriate definition of Islamic Economics
Economics
have arose because of attempts to mix Western Economics
Economics
concepts with Islamic ideals, when the two are diametrically opposed to each other in many dimensions. He proposes a definition based on purely Islamic sources: "Islamic Economics
Economics
is the EFFORT/STRUGGLE to implement the orders of Allah pertaining to economic affairs in our individual lives (Micro), in our communities (Meso), and at the level of Ummah
Ummah
(Macro)."

Fiqh
Fiqh
and Islamic economics[edit] FIqh (religious law) has developed several traditional concepts having to do with economics. These included:

Zakat—the "charitable taxing of certain assets, such as currency, gold, or harvest, with an eye to allocating these taxes to eight expenditures that are also explicitly defined in the Quran, such as aid to those in need." Gharar—"uncertainty". The presence of any element of excessive uncertainty, in a contract is prohibited. Riba—"referred to as usury (modern Islamic economists reached consensus that Riba
Riba
is any kind of interest, rather than just usury)"[41]

Another source lists "general rules" include prohibition of Riba, Gharar, and also

Qimar (gambling)[42] and the encouragement of Taa’won (mutual cooperation),[42] "the overriding doctrine of fairness in commercial dealings is established."[42]

These concepts, like others in Islamic law, came from study of the Quran
Quran
and ahadith—or as one observer put it, were

constructed on the basis of isolated prescriptions, anecdotes, examples, words of the Prophet, all gathered together and systematized by commentators according to an inductive, casuistic method."[43]

In addition to Quran
Quran
and ahadith sometimes other sources such as al-urf (custom), or al-ijma (consensus of the jurists) are employed,[44] to create laws that determine whether actions were forbidden, discouraged, allowed, encouraged and obligatory for Muslims. The different school of fiqh (madhhab) vary slightly in their rulings. Works of fiqh are typically divided into different "books" such as a Book of Iman, of Salah, Zakat, Taqwa, Hajj, but not `economics` or `economy`.[45] Some brief works might contain almost nothing related to matters of property, sales, finance [Note 1] Others do not gather questions on economic issues in one heading, the case in Tawzih al-masa'il, a work of fatawa by Ayatollah
Ayatollah
Ruhollah Khomeini, who although a pioneer of political Islam
Islam
approached the subject of economy

"as the classical ulamas do ... the chapter on selling and buying (Kharid o forush) comes after the one on pilgrimage and present economic questions as individual acts open to moral analysis: `To lend [without interest, on a note from the lender] is among the good works that are particularly recommended in the verses of the Quran
Quran
and in the Traditions.`"[45][47]

Other works divided the subjects of fiqh into four "quarters":[48] typically worship (al-`Ibadat), marriage and family law (al-Munakahat), criminal law (Jinayat), commercial transaction law (Mu'amalat).[49] At least one author (M. Kahf) writes that Mu'amalat is "closely related" to Islamic Economics.[50] (However even with the "quarters" division of fiqh topics mu'amalat would not include inheritance or wedding dower (mahr) (which at least often comes under marriage and family law),[51][52] or calculation of alms (zakat, which comes under al-`Ibadat)). A number of scholars (Olivier Roy, Timur Kuran, Omar Norman) have noted the recentness of reflecting on economic issues in the Islamic world,[7][45][53] and the difference between economics the social science based on data, and Islamic jurisprudence based on revealed truth. Salman Ahmed Shaikh and Monzer Kahf insist on a clear distinction between the roles of Fiqh
Fiqh
and Islamic Economics, Shaikh saying

to be meritorious as a separate field of inquiry, Islamic economics cannot confine itself just to explaining and deducing laws in economic matters based on core principles. Since this function is already performed by the discipline of Islamic jurisprudence ...[54]

M. Kahf writes that mu'amalat and Islamic economics
Islamic economics
"often intermingle",[55] mu'amalat "sets terms and conditions of conduct for economic and financial relationships in the Islamic economy" and provides the "grounds on which new instruments" of Islamic financing are developed,[50] but that the "nature of Fiqh
Fiqh
imposes a concern about individual transactions and their minute legalistic characteristics", so that analyzing Islamic economics
Islamic economics
in terms of Fiqh" risks losing "the ability to provide a macro economic theory".[56] According to economist Muhammad
Muhammad
Akram Khan the "main plank" of Islamic economics is the "theory of riba", while "another landmark" is zakat, a tax on wealth and income.[57] According to another contemporary writer Salah
Salah
El-Sheikh, "Islamic economic principles" (what he calls a "FiqhiConomic model") utilize the Faqīh (Islamic jurisprudence) as supporting material, but are grounded upon the ethical teachings within the Qu'rān. Sharīah's basic tenets involve gharar and (fadl māl bilā 'iwad). Gharar insists all knowledge about a trade or transaction is known before two individuals complete a transaction and (fadl māl bilā 'iwad) warns against unjustified enrichment through trade and business. These tenets were "among the first economic regulations" and their philosophy can be seen today in modern Capitalism. Within Sharīah, El-Sheikh states, Gharar functions as a divine deterrent against asymmetric information and allows trade to prosper. Riba, ensures each transaction is conducted at a fair price, not allowing one party to benefit exceedingly, which shares a parallel philosophy with Karl Marx "Das Kapital": seeking a greater outcome for the community.[58]

History[edit] Further information: History of Islamic economics Pre-modern Muslim
Muslim
thought on economics[edit] Classical Muslim
Muslim
scholars did however, make valuable contributions to Islamic thought on issues involving production, consumption, income, wealth, property, taxation, land ownership, etc. are Abu Yusuf
Abu Yusuf
(d. 798), Muhammad
Muhammad
bin al-Hasan (d. 805), Al-Mawardi (d. 1058), Ibn Hazm (d. 1064), Al-Sarakhsi (d. 1090), Al-Tusi (d. 1093), Al-Ghazali
Al-Ghazali
(d. 1111), Al-Dimashqi (d. after 1175), Ibn Rushd
Ibn Rushd
(d. 1187), Ibn Taymiyyah (d.1328), Ibn al-Ukhuwwah (d. 1329), Ibn al-Qayyim
Ibn al-Qayyim
(d. 1350), Al-Shatibi
Al-Shatibi
(d. 1388), Ibn Khaldun
Ibn Khaldun
(d. 1406), Al-Maqrizi (d. 1442), Al-Dawwani (d. 1501), and Shah Waliyullah (d. 1762).[59] Abu Yusuf
Abu Yusuf
(d. 798) was author of the book al Kharaj -- literally "the return or revenue" but was used by the author to mean "public revenues and taxation" -- which was a policy guide to Harun al-Rashid, the fifth Abbasid Caliph.[60] Muhammad
Muhammad
bin al-Hasan (d.805) wrote al Iktisab fi al Rizq al Mustatab [Earned Desired income], intended as advice to businessmen "in their endeavors to create income opportunities".[60] Abu 'Ubaid al Qasim bin Sallam (d.839) was the author of al-Amwal (plural of "wealth").[60] Perhaps the most well-known Islamic scholar who wrote about economics issues was Ibn Khaldun,[61][Note 2] who has been call "the father of modern economics" by I.M. Oweiss.[63][64] Ibn Khaldun
Ibn Khaldun
wrote on what is now called economic and political theory in the introduction, or Muqaddimah
Muqaddimah
(Prolegomena), of his History of the World (Kitab al-Ibar). He discussed what he called asabiyya (social cohesion), which he cited as the cause of some civilizations becoming great and others not. Ibn Khaldun felt that many social forces are cyclic, although there could be sudden sharp turns that break the pattern.[65] His idea about the benefits of the division of labor also relate to asabiyya, the greater the social cohesion, the more complex the successful division may be, the greater the economic growth. He noted that growth and development positively stimulates both supply and demand, and that the forces of supply and demand are what determines the prices of goods.[66] He also noted macroeconomic forces of population growth, human capital development, and technological developments effects on development.[67] In fact, Ibn Khaldun
Ibn Khaldun
thought that population growth was directly a function of wealth.[68] (Medieval Islamic economics
Islamic economics
appears to have somewhat resembled a form of capitalism, some arguing that it laid the foundations for the development of modern capitalism.[69][70]) Development of "Islamic economics"[edit] According to (Timur Kuran), "not until the mid-twentieth century" was there a body of thought that could be called "Islamic economics", that was "recognizable as a coherent or self-contained doctrine". But around 1950 "campaigns launched to identify self-consciously, if not also exclusively, Islamic patterns of economic thought and behavior".[7] (Famous early-20th Century Muslim
Muslim
nationalist and author Muhammad
Muhammad
Iqbal, for example, did not refer to religion in his treatise on economics.[53]) Islamic economics
Islamic economics
grew naturally from the Islamic revival
Islamic revival
and political Islam
Islam
whose adherents considered Islam
Islam
to be a complete system of life in all its aspects, rather than a spiritual formula[71] and believed that it logically followed that Islam
Islam
must have an economic system, unique from and superior to non-Islamic economic systems.[Note 3] "Islamic economics" "emerged" in the 1940s according to the Encyclopedia of Islam
Islam
and the Muslim
Muslim
World.[73] Maulana ala Maududi's 1941 address "The economic problem of man and its Islamic solution" (Insaan ka Maashi Maslah aur aus ka Islami Hul) is "generally considered to be one of the founding documents of modern Islamic economics"[74][75][76] More conservative salafi have shown less interest in socioeconomic issues, asking the question, "the prophet and his companions didn't study `laws` of economics, look for patterns, strive for understanding of what happens in commerce, production, consumption. Why should we?"[45] Maududi himself also dismissed the need for a "new science of economics, embodied in voluminous books, with high-sounding terminology and large organisation", as the true "economic problem of man" — along with all his social, political and other problems — "can be easily understood" and is simply the failure to follow Islamic law.[77][78]

1960, 70s

In the 1960s and 1970s, Shi'a thinkers worked to describe Islamic economics' "own answers to contemporary economic problems." Several works were particularly influential:

Eslam va Malekiyyat ( Islam
Islam
and Property) by Mahmud Taleqani (1951), Iqtisaduna (Our Economics) by Mohammad Baqir al-Sadr
Mohammad Baqir al-Sadr
(1961) and Eqtesad-e Towhidi (The Economics
Economics
of Divine Harmony) by Abolhassan Banisadr (1978) Some Interpretations of Property Rights, Capital and Labor from Islamic Perspective by Habibullah Peyman (1979).[79][80]

Al-Sadr in particular was described as having "almost single-handedly developed the notion of Islamic economics"[81] In their writings, Sadr and the other authors "sought to depict Islam as a religion committed to social justice, the equitable distribution of wealth, and the cause of the deprived classes," with doctrines "acceptable to Islamic jurists," while refuting existing non-Islamic theories of capitalism and Marxism. Mohammad Baqir al-Sadr
Mohammad Baqir al-Sadr
and also cleric Mahmoud Taleghani
Mahmoud Taleghani
developed an "Islamic economics" emphasizing a major role for the state in matters such as circulation and equitable distribution of wealth, and a reward to participants in the marketplace for being exposed to risk or liability. This version of Islamic economics, which influenced the Iranian Revolution, called for public ownership of land and of large "industrial enterprises," while private economic activity continued "within reasonable limits."[82] These ideas informed the large public sector and public subsidy policies of the Iranian Revolution. Sunni cleric Taqiuddin al-Nabhani
Taqiuddin al-Nabhani
proposed economic system (Nidham ul-Iqtisad fil Islam
Islam
(The Economic System of Islam) by Taqiuddin Nabhani (1953)) combined public ownership of large chunks of the economy (utilities, public transport, health care, energy resources such as oil, and unused farm land), with use of the gold standard and specific instructions for the gold and silver weights of coins, arguing this would "demolish ... American control and the control of the dollar as an international currency."[83] In the Sunni world the first international conference on Islamic economics was held at the King Abdulaziz University in Jeddah in 1976. Since then the International Association for Islamic Economics
Economics
in collaboration with the Islamic Development Bank
Islamic Development Bank
has held conferences in Islamabad (1983), Kuala Lumpur (1992), Loughborough (2000), Bahrain (2003), Jakarta (2005) and Jeddah (2008), Iqbal (2008).[84] In addition there have been hundreds of seminars, workshops and discussion groups around the world on Islamic economics
Islamic economics
and finance.[85] In the U.S. a small number of patent applications have been filed for Sharia
Sharia
compliant financial service methods.[86]

Khomeini era

What has been called one of "two versions" of "Islamic economy" existed during the first ten years (1979-1989) of the Islamic Republic of Iran during the life of Supreme Leader (and revolution founder) Ayatollah
Ayatollah
Ruhollah Khomeini. This was an " Islamist
Islamist
socialist, and state-run": It was "little by little supplanted" by a more liberal economic policy.[87]

Post-socialist trend

In the 1980s and 1990s, as the Islamic revolution failed to reach the per capita income level achieved by the regime it overthrew, and Communist states and socialist parties in the non- Muslim
Muslim
world turned away from socialism, Muslim
Muslim
interest shifted away from government ownership and regulation. In Iran, "eqtesad-e Eslami (meaning both Islamic economics
Islamic economics
and economy) ... once a revolutionary shibboleth, is indubitably absent in all official documents and the media. It disappeared from Iranian political discourse" about 1990.[80] During the era of Zia-ul-Haq, several Islamic economic concepts and practices were introduced into the domestic economy, as part of Zia's Islamisation reforms (see Islamic economics
Islamic economics
in Pakistan). The term lived on in the Muslim
Muslim
world, shifting form to the less ambitious goal of interest-free banking. Some Muslim
Muslim
bankers and religious leaders suggested ways to integrate Islamic law on usage of money with modern concepts of ethical investing. In banking this was done through the use of sales transactions (focusing on the fixed rate return modes) to support investing without interest-bearing debt. Many modern writers have strongly criticized this approach as a means of covering conventional banking with an Islamic facade.[88] (Sohrab Behada has argued that the economic system proposed by Islam
Islam
is essentially a capitalist one.[89]) As an academic discipline[edit] Achievements[edit] As of 2008 there were:

Eight magazines recently started "exclusively devoted to Islamic economics and finance",[90] 484 research projects in various universities of ten countries including the US, the UK and Germany.[91] 200 Ph.D. dissertations completed at different universities of the world,[91] literature published English, Arabic, Urdu, Bahasa Malaysia, Turkish and other regional languages.[92] "Over a thousand unique titles on Islamic economics
Islamic economics
and finance" in IFP databank[91] 1500 conferences (whose proceedings are available in IFP databank)[92][93] One school—the Kulliyyah of Economics
Economics
and Management Sciences of International Islamic University Malaysia (IIUM) -- has produced over 2000 graduates in 25 years as of 2009.[94][95]

King Abdulaziz University, Jeddah hosted the first international conference on Islamic economics
Islamic economics
in 1976. Thereafter the International Association for Islamic Economics
Economics
in collaboration with the Islamic Development Bank
Bank
has held conferences in Islamabad (1983), Kuala Lumpur (1992), Loughborough (2000), Bahrain (2003), Jakarta (2005) and Jeddah (2008) Iqbal 2008).[85] Challenges[edit] Along with these achievements, some Islamic economists have complained of problems in the academic discipline: a shift in interest away from Islamic Economics
Economics
to Islamic Finance
Islamic Finance
since the 1980s, a shortage of university courses, reading materials that are "either scant or of poor quality",[96] lack of intellectual freedom,[97] "narrow focus" on interest-free banking and zakat without data-based research to substantiate claim made for them—that interest causes economic problems or that zakat solves them.[98] A number of economists have lamented that while Islamic Finance
Islamic Finance
was originally a "subset" of Islamic Economics, economics and research in pure Islamic economics
Islamic economics
has been "shifted to the back burner".[99] Funding for research has gone to Islamic Finance[100] despite the lack of "scientific knowledge to back" the claims made for Islamic Finance.[101] Enrollment has subsided in classes[102] and second and third generation Islamic economists are scarce,[100] some institutions have "lost their real direction and some have even been closed".[103] and interest of economists in the field's "grand idea" of providing an alternative to capitalism and socialism has "yielded" to the "needs" of the "industry" of Islamic Finance.[102] [104] According to economist Rasem Kayed, while a number of universities and institutes of higher learning now offer courses on Islamic economics and finance "most of the courses offered by these institutions pertain to Islamic finance
Islamic finance
rather than Islamic economics."[105] Surveying Islamic economics
Islamic economics
and finance courses being offered as of 2008 by 14 universities in Muslim
Muslim
countries, Kayed found 551 courses in conventional economics and finance, and only 12 courses in Islamic economics and finance (only 2% of the total).[105] This "appalling and intolerable ... negligence" was made worse by the curriculum of the courses which failed to debate "the issues" the discipline or give "due thought to ... the future development of Islamic financial industry" but rather attempted "to squeeze as much abstract information" as possible in their courses, according to Kayed.[99][106] Another economist ( Muhammad
Muhammad
Akram Khan) lamented that "the real problem is that despite efforts for developing a separate discipline of Islamic economics, there is not much that can be genuinely called `economics`. Most of Islamic economics
Islamic economics
consists of theology on economic matters."[95] Another (M.N. Siddiqi) notes Islamic economics has been teaching "conventional economics from an Islamic perspective", rather than Islamic economics.[107][108] Despite its start in 1976, as of 2009, 2013 Islamic economics
Islamic economics
was called still in its infancy,[94][95] its "curricula frames, course structures, reading materials, and research", "mostly" anchored in the "mainstream tradition",[95][107] "lacking sufficiency, depth, coordination and direction," with teaching faculties in many cases ... found short of the needed knowledge, scholarship, and commitment."[109][110] "Distinct textbooks and teaching materials" required have been found to "neither exist" nor be "easy to create."[96] Despite shortcomings in academic writing—most of the books are "not cohesive" and are "at best no more than extended papers on specific topics"—constructive evaluations are not common and response to what there is even less common.[111] The lack of an Islamic economics
Islamic economics
textbook "looms large" for Muslim
Muslim
economists and scholars. Despite the holding of a workshop in November 2010 to arrange the writing of such a textbook, the participation of "a number of eminent Muslim
Muslim
economists", (at the International Institute of Islamic Thought in London) and the appointment of "a noted Muslim economist" to coordinate the production of the textbook, as of 2015 "no standard textbook of Islamic economics
Islamic economics
was available."[112] Islamic economic institutes are not known for their intellectual freedom, and according to Muhammad
Muhammad
Akram Khan are unlikely to allow criticism of the ideas or policies of their founding leaders or governments. The Centre for Research in Islamic Economics, an organ of the Jeddah University in Saudi Arabia, for example, "cannot allow publication of any work that goes against the orthodox thinking of the influential" Saudi religious leadership.[97] Despite "tall talk about ijtehad", Islamic economists "are shy" about "suggesting innovative ideas" for fear of antagonizing religious clerics.[97] Use of Islamic terminology not only for distinctive Islamic concepts such as riba, zakat, mudaraba but also for concepts that do not have specific Islamic connotation -- adl for justice, hukuma for government—locking out non- Muslim
Muslim
and even not Arabic speaking readers from the content of Islamic economics
Islamic economics
and even "giving legitimacy" to "pendantry" in the field.[113]

Property[edit] According to authors F. Nomani and A. Rahnema, the Qur'an states that God is the sole owner of all matter in the heavens and the earth,[114] but man is God's viceregent on earth and holds God's possessions in trust (amanat). Islamic jurists divide properties into public, state, private categories.[115] Some Muslims believe that the Shariah provides "specific laws and standards regarding the use and allocation of resources including land, water, animals, minerals, and manpower."[116] Public property[edit] According to M.A.Khan, " Islam
Islam
introduced the distinction between private property and public property and made the rulers accountable to the people".[117] Scholars F. Nomani and A. Rahnema state that public property in Islam
Islam
refers to natural resources (forests, pastures, uncultivated land, water, mines, oceanic resources etc.) to which all humans have equal right. Such resources are considered the common property of the community. Such property is placed under the guardianship and control of the Islamic state, and can be used by any citizen, as long as that use does not undermine the rights of other citizens, according to Nomani and Rahnema.[115] Muhammed's saying that "people are partners in three things: water, fire and pastures", led some scholars to believe that the privatization of water and energy is not permissible. Muhammad
Muhammad
allowed other types of public property, such as gold mines, to be privatized, in return for tax payments to the Islamic state. The owner of the previously public property that was privatized pays zakat and, according to Shi'ite scholars, khums as well. In general, the privatization and nationalization of public property is subject to debate amongst Islamic scholars. According to an analysis by Walid El-Malik in 1993, only the Maliki school took the position that all kinds of natural resources are state-owned; the Hanafi school took the opposite view and held that mineral ownership followed surface ownership, while the other two schools, Shafi'i and Hanbali, drew a distinction between "hidden" and "unhidden" minerals.[118] State property[edit] State property includes certain natural resources, as well as other property that can't immediately be privatized. Islamic state
Islamic state
property can be movable, or immovable, and can be acquired through conquest or peaceful means. Unclaimed, unoccupied and heir-less properties, including uncultivated land (mawat), can be considered state property.[115] During the life of Muhammad, one fifth of military equipment captured from the enemy in the battlefield was considered state property. During his reign, Umar
Umar
(on the recommendation of Ali) considered conquered land to be state rather than private property (as was usual practice). The purported reason for this was that privatizing this property would concentrate resources in the hands of a few, and prevent it from being used for the general good. The property remained under the occupation of the cultivators, but taxes were collected on it for the state treasury.[115] Muhammad
Muhammad
said "Old and fallow lands are for God and His Messenger (i.e. state property), then they are for you". Jurists draw from this the conclusion that, ultimately, private ownership takes over state property.[115] Private property[edit] There is consensus amongst Islamic jurists and social scientists that Islam
Islam
recognizes and upholds the individual's right to private ownership. The Qur'an extensively discusses taxation, inheritance, prohibition against stealing, legality of ownership, recommendation to give charity and other topics related to private property. Islam
Islam
also guarantees the protection of private property by imposing stringent punishments on thieves. Muhammad
Muhammad
said that he who dies defending his property was like a martyr.[119] Islamic economists classify the acquisition of private property into involuntary, contractual and non-contractual categories. Involuntary means are inheritances, bequests, and gifts. Non-contractual acquisition involves the collection and exploitation of natural resources that have not previously been claimed as private property. Contractual acquisition includes activities such as trading, buying, renting, hiring labor etc.[119] A tradition attributed to Muhammad, with which both Sunni and Shi'a jurists agree, in cases where the right to private ownership causes harm to others, then Islam
Islam
favors curtailing the right in those cases. Maliki
Maliki
and Hanbali
Hanbali
jurists argue that if private ownership endangers public interest, then the state can limit the amount an individual is allowed to own. This view, however, is debated by others.[119] When Muhammad
Muhammad
migrated to Madinah many of the Muslims owned agricultural land. Muhammad
Muhammad
confirmed this ownership and allocated land to individuals. The land allotted would be used for housing, farming or gardening. For example, Bilal b. Harith was given land with mineral deposits at 'Aqiq Valley[120] Hassan b. Thabit was afforded the garden of Bayruha[121] and Zubayr received oasis land at Khaybar and Banu Nadir.[122] During the reign of Caliph Umar, a vast expanse of Persian royal family terrain had been acquired, this lead his successor Caliph Uthman to accelerate the allotment of land to individuals in return for a portion of the crop yield.[123] Markets[edit] According to M.S.Naz, regulation of markets is among the main functions of hisbah,[124][125] the "semi-judicial institution" operational from the "earliest days of Islam". It was “charged with responsibility of carrying out the spirit of the system, setting conditions that preserve and enhance the public health and interests, protect the consumers, solve business and labor disputes, promote good market behavior, and ensure their observance.”[126] M.A. Khan states, institution of Hisbah as established to "supervise markets, to provide municipal services, and to settle petty disputes".[127][128] In the contemporary era, Pakistan has attempted to re-create this institution, although it has jurisdiction only over the administrative excesses of the federal government departments and agencies, not provincial ones or private companies.[128] According to Nomani and Rahnema, Islam
Islam
accepts markets as the basic coordinating mechanism of the economic system. Islamic teaching holds that the market, given perfect competition, allows consumers to obtain desired goods and producers to sell their goods at a mutually acceptable price.[129] Three necessary conditions for an operational market are said (by Nomani and Rahnema) to be upheld in Islamic primary sources:[129]

Freedom of exchange: the Qur'an calls on believers to engage in trade, and rejects the contention that trade is forbidden.[130] Private ownership
Private ownership
(see above). Security of contract: the Qur'an calls for the fulfillment and observation of contracts.[131] The longest verse of the Qur'an deals with commercial contracts involving immediate and future payments.[132]

Another author (Nima Mersadi Tabari) claims that the general doctrine of fairness in sharia law creates "an ethical economic model" and forbids market manipulation such as "inflating the price of commodities by creating artificial shortages (Ihtekar), overbidding for the sole purpose of driving the prices up (Najash) and concealment of vital information in a transaction from the other party (Ghish)".[42] Further, "uninformed speculation" not based on a proper analysis of available information is forbidden because it is a form of Qimar, or gambling, and results in accumulating Maysir (unearned income).[42] Commercial contracting under conditions of "excessive uncertainty" (however that is defined) is a form of Gharar and so also forbidden.[42] Interference[edit] Proponents such as M.A.Khan,[133] Nomani and Rahnema also contend that the "Islamic economy" forbids or at least discourages market manipulation such as price fixing, hoarding and bribery. Government intervention in the economy is tolerated under specific circumstances.[129] Another author (Nima Mersadi Tabari) states that in Islam
Islam
"everything is Halal
Halal
(allowed) unless it has been declared Haram (forbidden)", consequently "the Islamic economic model is based on the freedom of trade and freedom of contract so far as the limits of Shari’ah allow".[42] Nomani and Rahnema say that Islam
Islam
prohibits price fixing by a dominating handful of buyers or sellers. During the days of Muhammad, a small group of merchants met agricultural producers outside the city and bought the entire crop, thereby gaining a monopoly over the market. The produce was later sold at a higher price within the city. Muhammad
Muhammad
condemned this practice since it caused injury both to the producers (who in the absence of numerous customers were forced to sell goods at a lower price) and the inhabitants.[129] The above-mentioned reports are also used to justify the argument that the Islamic market is characterized by free information. Producers and consumers should not be denied information on demand and supply conditions. Producers are expected to inform consumers of the quality and quantity of goods they claim to sell. Some scholars hold that if an inexperienced buyer is swayed by the seller, the consumer may nullify the transaction upon realizing the seller's unfair treatment. The Qur'an also forbids discriminatory transactions.[129][134] Bribery
Bribery
is also forbidden in Islam
Islam
and can therefore not be used to secure a deal or gain favor in a transaction, it was narrated that Muhammad
Muhammad
cursed the one who offers the bribe, the one who receives it, and the one who arranges it.[135] Nomani and Rahnema say government interference in the market is justified in exceptional circumstances, such as the protection of public interest. Under normal circumstances, governmental non-interference should be upheld. When Muhammad
Muhammad
was asked to set the price of goods in a market he responded, "I will not set such a precedent, let the people carry on with their activities and benefit mutually."[129] Banking and finance[edit] Main article: Islamic banking and finance Further information: History of Islamic economics Islamic banking has been called "the most visible practical achievement" of Islamic economics,[7] and the "most visible mark" of Islamic revivalism.[136] By 2009, there were over 300 "shariah compliant banks and 250 mutual funds around the world,[137] and around $2 trillion were sharia-compliant by 2014.[138][139] However, the domination of the industry by debt-like instruments such as murabaha rather than risk-sharing products, has driven even some leading advocates and experts in Islamic banking (such as Muhammad Nejatullah Siddiqi) to talk about "a crisis of identity of the Islamic financial movement."[140] Interest[edit] The most noticeable and/or important objective of Islamic Banking has been a ban on the charging of interest on loans.[7] The Quran
Quran
(3: 130) condemns riba (which is usually translated as "interest"): "O, you who believe! Devour not riba, doubled and redoubled, and be careful of Allah; but fear Allah that you may be successful." Islamic public finance (Bayt-al-Mal)[edit] The only financial institution under Islamic Governance (Prophethood and Caliph Period) was Baitulmaal (public treasury) wherein the wealths were distributed instantly on the basis of need. During Prophethood the last receipt was tribute from Bahrain amounting eight hundred thousands dirham which was distributed in just one sitting. Though the first Caliph earmarked a house for Baitulmaal where all money was kept on receipt. As all money was distributed immediately the treasury generally remained locked up. At the time of his death there was only one dirham in the Baitulmaal. The second caliph besides developing the Central Baitulmaal also opened Baitulmaal at state and headquarters levels. He also carried census during his caliphate; and provisioned salaries to Government employees, stipend to poor and needy people along with social security to unemployed and retirement pensions. The concept of a public financial institution played a historic role in the Islamic economy. The idea of state collected wealth being made available to the needy general public was relatively new. The resources in the Bayt-al-Mal were considered God's resources and a trust, money paid into the shared bank was common property of all the Muslims and the ruler was just the trustee.[citation needed] The shared bank was treated as a financial institution and therefore subjected to the same prohibitions regarding interest.[141] Caliph Umar
Umar
spoke on the shared bank saying: "I did not find the betterment of this wealth except in three ways: (i) it is received by right, (ii) it is given by right, and (iii) it is stopped from wrong. As regards my own position vis-a-vis this wealth of yours; it is like that of a guardian of an orphan. If I am well-off, I shall leave it, but if I am hard-pressed I shall take from it as is genuinely permissible."[142][verification needed] Proposals[edit] Savings and investment[edit] An alternative Islamic savings-investment model can be built around venture capital; investment banks; restructured corporations; and restructured stock market.[143] This model looks at removing the interest-based banking and in replacing market inefficiencies such as subsidization of loans over profit-sharing investments due to double taxation and restrictions on investment in private equity.[144] Hybrids[edit] Islamic banks have grown recently in the Muslim
Muslim
world, but are a very small share of the global economy compared to the Western debt banking paradigm. Hybrid approaches, which applies classical Islamic values but uses conventional lending practices, are much lauded by some proponents of modern human development theory.[citation needed] Criticism and dispute[edit] Islamic economics
Islamic economics
has been disparaged for

its alleged "incoherence, incompleteness, impracticality, and irrelevance", driven by "cultural identity" rather than problem solving (Timur Kuran, John Foster);[145][146][147][148] being "a hodgepodge of populist and socialist ideas" in theory, and "nothing more than inefficient state control of the economy and some almost equally ineffective redistribution policies" in practice (Fred Halliday);[149]

In a political and regional context where Islamist
Islamist
and ulema claim to have an opinion about everything, it is striking how little they have to say about this most central of human activities, beyond repetitious pieties about how their model is neither capitalist nor socialist.[149]

being little more than a mimicry of conventional economics embellished with verses of the Quran
Quran
and sunnah ( Muhammad
Muhammad
Ahram Khan);[38] claiming to call for a return to Islamic practices that are actually an "invented tradition" (Timur Kuran);[Note 4] failing to achieve its goals of abolishing interest on money, establishing economic equality, and a superior business ethic;[150] but nonetheless "spared critical scrutiny out of ignorance, misguided tolerance", and because its methods and objectives are considered "too unrealistic to threaten prevailing economic structures" (Timur Kuran).[7]

Islamic banking and finance

One significant result of Islamic economics
Islamic economics
(and target of criticism) is the creation of Islamic banking and finance
Islamic banking and finance
industry.[151] According to several scholars it has bred a new "Power Alliance" of "wealth and Shari'ah scholarship",[152][153][154]—wealthy banks and clients paying Islamic scholars to provide bank products with Islamic "shariah compliance". Journalist John Foster, quotes an investment banker based in the Islamic Banking hub of Dubai
Dubai
on the practice of "fatwa shopping",

"We create the same type of products that we do for the conventional markets. We then phone up a Sharia
Sharia
scholar for a Fatwa
Fatwa
[seal of approval, confirming the product is Shari'ah compliant]. If he doesn't give it to us, we phone up another scholar, offer him a sum of money for his services and ask him for a Fatwa. We do this until we get Sharia
Sharia
compliance. Then we are free to distribute the product as Islamic."[145]

Foster explains that the fee for services provided by "top" scholars is "often" in six-figures, i.e. over US$100,000.[145] One critic ( Muhammad
Muhammad
O. Farooq) argues that this unfortunate situation has arisen because the "preoccupation" among supporters of Islamic Economics
Economics
that any and all interest on loans is riba and forbidden by Islam, and because risk-sharing alternatives to interest bearing loans originally envisioned for Islamic banking have not proven feasible. With the elimination of interest being both the basis of the industry and impractical, shari'a scholars have become "entrapped in a situation" where they are forced to approve transactions fundamentally similar to conventional loans but using "hiyal" manipulation to "maintain an Islamic veneer".[155]

Justice

Instead of "fixating" on interest, Farooq urges a focus on "the larger picture" of "justice", and in economics on fighting exploitation from "greed and profit," and the concentration of wealth. He quotes an ayat in support: "What God has bestowed on his Messenger (and taken away) from the people of the townships, - belongs to God, - to his Messenger and to kindred and orphans, the needy and the wayfarer; in order that it may not (merely) make a circuit between the wealthy among you. ..." Quran 59:7[156] As an example of the neglect of this issue, Farooq complains that one "rather comprehensive" bibliography of Islamic economics
Islamic economics
and finance, contains "not a single citation for exploitation or injustice" among its 700 entries.[157] A former director of Pakistan Institute of Development Economics
Economics
and the head of Pakistan's Economic Affairs Division, Syed Nawab Haider Naqvi,[Note 5] also called for "comprehensive Islamic reform to establish an exploitation-free economic system" and not just "mechanical substitution of profit for interest."[158]

Zakat

On the issue of zakat, one of the pillars of Islam, M.A.Khan also criticizes the conservatism of Islamic Economics, complaining that "the insistence of Muslim
Muslim
scholars in implementing it in the same form in which it was in vogue in the days of the Prophet and the first four caliphs ... has made it irrelevant to the needs of a contemporary society."[159]

Practicality

A supporter of Islamic economics
Islamic economics
(Asad Zaman) describes a "major difficulty" faced by Islamic reformers of Islamic economics
Islamic economics
and pointed out by other authors, namely that because a financial system is an "integrated and coherent structure", to create an Islamic system "based on trust, community and no interest" requires "changes and interventions on several different fronts simultaneously".[160] See also[edit]

Islamic economics
Islamic economics
in Pakistan Islamic philosophy Economy
Economy
of the OIC Law and economics

People

Muhammad
Muhammad
Taqi Usmani Nathif Jama Adam

References[edit] Notes[edit]

^ such as The Essential Hanafi Handbook of Fiqh
Fiqh
by Qazi Thanaa Ullah).[46] ^ also called the father of modern Historiography and Sociology.[62] Schumpeter (1954) p 136 mentions his sociology, others, including Hosseini (2003) emphasize him as well ^ M.T. Usmani, for example states: "Unlike other religions, Islam
Islam
is not confined to some moral teachings, some rituals or some modes of worship. It rather contains guidance in every sphere of life including socio-economic fields. The obedience from servants of Allah is required not only in worship, but also in their economic activities, ..."[72] ^ Islamic economics
Islamic economics
itself exemplifies what has been called an `invented tradition.` ... not until the mid-twentieth century were campaigns launched to identify self-consciously, if not also exclusively, Islamic patterns of economic thought and behavior. Until that time the economic content of discourses grounded in Islam's traditional sources lacked systematization; they hardly formed a body of thought recognizable as a coherent or self-contained doctrine.[7] ^ During an "earlier phase" of the Islamic Banking movement in 1981

Citations[edit]

^ a b Roy 1994, p. 133 ^ " Fiqh
Fiqh
al-mu'amalat". islamicbanker.com. Retrieved 22 January 2015.  ^ a b Mat, Ismail; Ismail, Yusof. "A Review of Fiqh
Fiqh
al-Mua'malat Subjects in Economics
Economics
and Related Programs at International Islamic University Malaysia and University of Brunei Darussalam" (PDF). kantakji.com. p. 1. Retrieved 22 January 2015.  ^ a b Saleem, Muhammad
Muhammad
Yusuf (n.d.). "Methods and Methodologies in Fiqh
Fiqh
and Islamic Economics" (PDF). kantakji.com. p. 1. Retrieved 22 January 2015. The paper argues that the methods used in Fiqh
Fiqh
are mainly designed to find out whether or not a certain act is permissible or prohibited. Islamic economics, on the other hand, is a social science. Like any other social science its proper unit of analysis is the society itself.  ^ "Definition of ECONOMICS". www.merriam-webster.com. Retrieved 28 March 2018.  ^ "ECONOMIC GOALS". amosweb.com/. Retrieved 22 January 2015.  ^ a b c d e f g Kuran, Timur (2004). Islam
Islam
and Mammon: The Economic Predicaments of Islamism. Princeton University Press. p. x. Retrieved 25 March 2015.  ^ The economic system in contemporary Islamic thought: Interpretation and assessment Archived May 29, 2016, at the Wayback Machine., by Timur Kuran, International Journal of Middle East Studies, 18, 1986, pp. 135–64 ^ Quran
Quran
(Al-Baqarah 2:275), (Al-Baqarah 2:276–80), (Al-'Imran 3:130), (Al-Nisa 4:161), (Ar-Rum 30:39) ^ Karim, Shafiel A. (2010). The Islamic Moral Economy: A Study of Islamic Money and Financial Instruments. Boca Raton, FL: Brown Walker Press. ISBN 978-1-59942-539-9.  ^ Financial Regulation in Crisis?: The Role of Law and the Failure of Northern Rock By Joanna Gray, Orkun Akseli p. 97 ^ Islam
Islam
and Economic Justice: A 'Third Way' Between Capitalism
Capitalism
and Socialism? Archived January 7, 2008, at the Wayback Machine. ^ How Do We Know Islam
Islam
Will Solve the Problems of Poverty and Inequality? Archived May 3, 2016, at the Wayback Machine. ^ Ishaque, Khalid M. (1983). "Islamic Approach to Economic Development". In Esposito,, John L. Voices of Resurgent Islam. pp. 268–276. the two models projected by the First and the Second Worlds. Both are basically materialistic, have priorities ... which permit wholesale exploitation. In the West it is the big corporations and cartels and in the Socialist
Socialist
countries it is state capitalism and bureaucracy.  ^ Quran
Quran
4:29 ^ International Business Success in a Strange Cultural Environment By Mamarinta P. Mababaya p. 203 ^ Quran
Quran
9:35 ^ Al-Bukhari Vol 2 Hadith
Hadith
514 ^ Ibn Majah Vol 3 Hadith
Hadith
2289 ^ International Business Success in a Strange Cultural Environment By Mamarinta P. Mababaya p. 202 ^ Islamic Capital Markets: Theory and Practice By Noureddine Krichene p. 119 ^ Abu Daud Hadith
Hadith
2015 ^ Ibn Majah Vold 3 Hadith
Hadith
2154 ^ The Stability of Islamic Finance: Creating a Resilient Financial Environment By Zamir Iqbal, Abbas Mirakhor, Noureddine Krichenne, Hossein Askari p. 75 ^ Al-Bukhari Vol 3 Hadith
Hadith
632; Vol 4 Hadith
Hadith
419 ^ Al-Bukhari Vol 3 Hadith
Hadith
634; Vol 4 Hadith
Hadith
418 ^ El-Gamal, Islam
Islam
and Mammon, 2004: p.5 ^ Khan, Islamic Banking in Pakistan, 2015: p.88 ^ Iqbal, Dunawar; Syed Ali, Salman; Muljawan, Dadang (2007). Advances in Islamic Economics
Economics
and Finance (PDF). p. 4. Retrieved 22 June 2016.  ^ ILYASLI, Omer (Apr 17, 2013). "What is Islamic Economics?". Islamiceconomy.net. Retrieved 14 July 2015.  ^ Kahf, "Relevance definition and methodology", 2003: p.25 ^ a b Zarqa, M. Anas. (2008), Duality of sources in Islamic economics, and its methodological consequences. Paper presented at 7th International Conference on Islamic Economics, King Abdulaziz University, 1–3 April, Jeddah. p.30 Archived May 13, 2009, at the Wayback Machine. ^ a b Khan, What Is Wrong with Islamic Economics?, 2013: p.4 ^ a b Khan, Islamic Banking in Pakistan, 2015: p.66 ^ a b Zaman, M.R. (2008). "" Usury
Usury
(riba) and the place of bank interest in Islamic banking and finance."". International Journal of Banking and Finance. 6: 28.  ^ Chapra, M.U. (2008). ""Islamic economics: what it is and how it developed"". EH.net. Retrieved 2 June 2017.  ^ Khan, M.N.; Bhatti, M.I. (2008). Developments in Islamic Banking: The Case of Pakistan. Basingstoke and New York: Palgrave Macmillan.  ^ a b Khan, What Is Wrong with Islamic Economics?, 2013: p.xv ^ Davari, Mahmood T. (2005). The Political Thought of Ayatollah Murtaza Mutahhari: An Iranian . Routledge. p. 90. Retrieved 15 July 2015. Islamic economics
Islamic economics
is not a science of political economy. Rather it is a revolution (that is a revolutionary ideology) for changing the corrupt reality and turning it into a pure one. It is clearly not an objective analysis of existing reality.`  ^ Zaman, Asad (2015). "Re-Defining Islamic Economics". In Egri, Taha; Kizilkaya, Necmettin. Islamic Economics: Basic Concepts, New Thinking and Future Directions. UK: Cambridge Scholars Publishing. pp. 58–76. ISBN 1443874566.  ^ Roy 1994, p. 132 ^ a b c d e f g Tabari, Nima Mersadi. "The Sharia'h Dimension of the Persian Gulf's Hydrocarbon Resources". social science research network. SSRN 1997131 . Retrieved 23 January 2015.  ^ Roy, Olivier (1994). The Failure of Political Islam. Harvard University Press. p. 13. Retrieved 22 January 2015.  ^ Schirazi, Asghar & 1997, p. 170 ^ a b c d Roy, Olivier (1994). The Failure of Political Islam. Harvard University Press. p. 133. Retrieved 22 January 2015.  ^ Essential Hanafi Handbook of Fiqh
Fiqh
A Translation of Qazi Thanaa Ullah's Ma La Budda Minhu, by Maulana Yusuf Talal Ali
Ali
al-Amriki, (Kazi Publications, Lahore, Pakistan) ^ (source: Ruhollah Khomeini, Tawzih al-masa'il, p.543) ^ JALIL, et. al., FOUR INTRODUCTORY THEORIES OF FIQH MUAMALAT: p.8 ^ "The Oxford Dictionary of Islam. Muamalat". Oxford Islamic Studies Online. Retrieved 25 January 2015.  ^ a b Kahf, "Relevance definition and methodology", 2003: p.46 ^ Hassan, Mohamed Fadzli (10 February 2008). "INTRODUCTION TO USUL AL-FIQH". Retrieved 6 April 2017.  ^ Wan Yussof, Wan Nor Aisyah. "The Originality of Qard and its Implication on the Loan Theory: Does Intention Matter?" (PDF). jams92.org. p. 13. Retrieved 6 April 2017. Fiqh
Fiqh
al-Munakahat: it deals with marriage, divorce, inheritance, guardianship and related matters  ^ a b Norman, Omar (2006). "5. The Profit Motive in Islam: Religion and Economics
Economics
in the Muslim
Muslim
World". In Hathaway, Robert M.; Lee, Wilson. Islamization
Islamization
and the Pakistani Economy
Economy
(PDF). Woodrow Wilson International Center for Scholars. p. 74. Retrieved 13 August 2012. Indeed it is worth noting that "Islamic economics" is of modern 20th century origin. Even at the turn of the 19th century, the phrase was not used by major Islamic thinkers. The great philosopher Iqbal, who was inspirational to the movement for Pakistan, did not refer to religion in his treatise on economics. Iqbal's Ilm–ul–Iqtesaad, published in 1902, was notable in its absence of religion in the understanding of the economy. The intellectual father of Islamic economics is Maulana Maudoodi, the scholar whose views have shaped the Jamaat-e-Islami  ^ Shaikh, Salman Ahmed (2014-03-11). "Difference between Islamic Economics
Economics
and Islamic Law". Islamic Economics
Economics
Project. Retrieved 2017-04-06.  ^ Kahf, "Relevance definition and methodology", 2003: p.47 ^ Kahf, "Relevance definition and methodology", 2003: p.49 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.xv-xvi ^ El-Sheikh, Salah. 2008. "The moral economy of classical Islam: a FiqhiConomic model." Muslim
Muslim
World 98, no. 1: 116-144. ATLA Religion Database with ATLASerials, EBSCOhost ^ Chapra, Umer (2010). "Islamic Economics: What It Is and How It Developed". In Whaples, Robert. EH.net: Encyclopedia of Economic and Business History. Archived from the original on 9 June 2011. Retrieved 8 July 2011.  ^ a b c Kahf, "Relevance definition and methodology", 2003: p.2 ^ Mahmassani, Sobhi (1932). Les Idées Economiques d'Ibn Khaldoun (The Economic Thought of Ibn Khaldoun), BOSC Frères, M. et L. RIOU, Lyon, is an early treatise on Ibn Khaldun's economic thought. ^ Glasse, Cyril (2005). "How We KNow the Exact Year the Archegos Left Baghdad". In BeDuhn, Jason. New Light on Manichaeism: Papers from the Sixth International Congress on Manichaeism. Brill. p. 138. Retrieved 7 April 2017.  ^ I. M. Oweiss (1988), "Ibn Khaldun, the Father of Economics", Arab Civilization: Challenges and Responses, New York University Press, ISBN 0-88706-698-4. ^ Jean David C. Boulakia (1971), "Ibn Khaldun: A Fourteenth-Century Economist", The Journal of Political Economy
Economy
79 (5): 1105–18. ^ Weiss 1995, pp. 29–30 ^ Weiss 1995, p. 31 quotes Muqaddimah
Muqaddimah
2:276–78 ^ Weiss 1995, p. 31 quotes Muqaddimah
Muqaddimah
2: 272–73 ^ Weiss 1995, p. 33 ^ Heck, Gene W. (2006), Charlemagne, Muhammad, and the Arab roots of capitalism, Walter de Gruyter, ISBN 3-11-019229-2  ^ Nolan, Peter (2007), Capitalism
Capitalism
and Freedom: The Contradictory Character of Globalisation, Anthem Press, p. 277, ISBN 1-84331-280-8  ^ The Economic Life of Islam
Islam
Archived April 19, 2016, at the Wayback Machine. ^ Usmani, Introduction to Islamic Finance, 1998: p.10 ^ Martin, Richard C., ed. (2004). "Riba". Encyclopedia of Islam
Islam
and the Muslim
Muslim
World. Macmillan Reference USA. pp. 596–7. ISBN 0-02-865912-0.  ^ Khan, Islamic Banking in Pakistan, 2015: pp.57 ^ Nasr, S.V.R. (1996). Mawdudi and the Making of Islamic Revivalism. New York and Oxford: Oxford University Press. pp. 103–106.  ^ Kuran, T. (2004). Islam
Islam
and Mammon: The Economic Predicaments of Islamism. Princeton, NJ: Princeton University Press. pp. 84–86.  ^ Maududi,, Maulana (1941). Maulana Maududi: The Economic Problem Of Man And Its Islamic Solution. Being an Address delivered in the Muslim University, Atigarh. on 20th October, 1941. Australian Islamic Library. Retrieved 19 March 2018.  ^ Maududi, Maulana (n.d.). Economic System Of Islam. Lahore: Islamic Publications. pp. 8–9. Retrieved 20 March 2018.  ^ Bakhash, Shaul, The Reign of the Ayatollahs, Basic Books, c1984, pp. 167–68 ^ a b Revolutionary Surge and Quiet Demise of Islamic Economics
Economics
in Iran Archived January 17, 2012, at the Wayback Machine. ^ The Renewal of Islamic Law Archived October 7, 2008, at the Wayback Machine. ^ Bakhash 1984, pp. 172–173 ^ "Untitled Document". Archived from the original on 4 July 2004. Retrieved 8 February 2015.  ^ Iqbal, Zamir and Abbas Mirakhor (2008). An Introduction to Islamic finance. Lahore; Vanguard Books ^ a b Khan, What Is Wrong with Islamic Economics?, 2013: p.6 ^ An example of a pending patent application: US US20030233324A1  "Declining balance co-ownership financing arrangement" (an allegedly Sharia
Sharia
compliant financing arrangement for home purchases and refinances that does not involve the payment of interest). ^ Roy, Olivier, The Failure of Political Islam
Islam
by Olivier Roy, translated by Carol Volk, Harvard University Press, 1994, p.138, 140 ^ Kahn, Muhammad, What is Wrong with Islamic Economics
Economics
Edward Elgar Publishing, 2013, pp. 216 et seq. ^ Sohrab Behada, "Property Rights in Contemporary Islamic Economic Thought, Review of Social Economy, Summer 1989 v. 47, (pp. 185–211) ^ Ali, S Nazim. 2008. Islamic finance
Islamic finance
and economics as reflected in research and publications. Review of Islamic Economics, 12 (1): 155 ^ a b c Ali, S Nazim. 2008. Islamic finance
Islamic finance
and economics as reflected in research and publications. Review of Islamic Economics, 12 (1): 164 ^ a b Khan, What Is Wrong with Islamic Economics?, 2013: p.5 ^ Ali, S Nazim. 2008. Islamic finance
Islamic finance
and economics as reflected in research and publications. Review of Islamic Economics, 12 (1): 151-168, 155 ^ a b Haneef, Mohamed A. 2009. Research in Islamic economics: The missing fard 'ayn component. Paper presented at 3rd Islamic Economics Congress, 12–14 January, Kuala Lumpur p.4 ^ a b c d Khan, What Is Wrong with Islamic Economics?, 2013: p.7 ^ a b Khan, What Is Wrong with Islamic Economics?, 2013: p.8 ^ a b c Khan, What Is Wrong with Islamic Economics?, 2013: p.11 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.14-5 ^ a b Kayed, Rasem N. 2008. Appraisal of the status of research on labor economics in the Islamic framework[dead link]. Paper presented at 7th International Conference on Islamic Economics, King Abdulaziz University, 1–3 April, Jeddah,  : 193) ^ a b Haneef, Mohamed A. 2009. Research in Islamic economics: The missing fard 'ayn component. Paper presented at 3rd Islamic Economics Congress, 12–14 January, Kuala Lumpur p.2 ^ Tahir, Sayyid. 2009. ISlamic finance: Undergraduate education. Islamic Economic Studies 16 (1&2) (January): 71 ^ a b Siddiqi, Muhammad
Muhammad
Nejatullah, 2008 Obstacles to Islamic economics research. Paper presented at 7th International Conference on Islamic Economics, King Abdulaziz University, 1–3 April, Jeddah Archived May 13, 2009, at the Wayback Machine. ^ Iqbal, Munawar. 2008. Contributions of the last six conferences. Paper presented at 7th International Conference on Islamic Economics, King Abdulaziz University, 1–3 April, Jeddah, p.80 Archived May 13, 2009, at the Wayback Machine. ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.13-4 ^ a b Kayed, Rasem N. 2008. Appraisal of the status of research on labor economics in the Islamic framework[permanent dead link]. Paper presented at 7th International Conference on Islamic Economics, King Abdulaziz University, 1–3 April, Jeddah, : 190-1) ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.6-7 ^ a b Hasan, Zubair. 2005 Treatment of consumption in Islamic economics: An appraisal. Journal of King Abdulaziz University: Islamic Economics, 18 (2): 29-46 ^ Siddiqi, M.N., 1996, Teaching economics in Islamic perspective. Jeddah: King Abdulaziz University, Centre for Research in Islamic Economics ^ Hasan, Zubair. 2009, " Islamic finance
Islamic finance
education at the graduate level: Current state and challenges." Islamic Economic Studies, 16 (1,2) (January) 81 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.7-8 ^ Hasan, Zubair. 2009, " Islamic finance
Islamic finance
education at the graduate level: Current state and challenges." Islamic Economic Studies, 16 (1,2) (January) 92-3 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.9-10 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.12 ^ Nomani and Rahnema quote Quran 2:107, Quran 2:255, Quran 2:284, Quran 5:120, Quran 48:14 ^ a b c d e F. Nomani and A. Rahnema. 1994. Islamic Economic Systems, Zed Press. pp. 66–70 ^ Hamed, Safei-Eldin (1993). "SEEING THE ENVIRONMENT THROUGH ISLAMIC EYES: Application of Shariah to Natural Resources Planning and Management" (PDF). JOURNAL OF AGRICULTURAL AND ENVIRONMENTAL ETHICS. 6 (2): 145–164. Retrieved 23 January 2015.  ^ Khan, Muhammad
Muhammad
Akram (1994). Introduction to Islamic Economics (PDF). Islamabad, Pakistan: THE INTERNATIONAL INSTITUTE OF ISLAMIC THOUGHT and INSTITUTE OF POLICY STUDIES. p. 20. ISBN 1-56564-079-9. Retrieved 28 September 2016.  ^ https://books.google.com/books?id=g1G52SwFjeQC&pg=PA316&lpg=PA316&dq=maliki+natural+resources+hanafi&source=bl&ots=XSgJKPe0l2&sig=DuoGVPCg0ypPL1rvR5FOaiAOShA&hl=en&sa=X&redir_esc=y#v=onepage&q=maliki%20natural%20resources%20hanafi&f=false[permanent dead link] ^ a b c Nomani & Rahnema 1994, pp. 71–77 ^ al-Baladhuri, Futuh al-Buldan ^ Sahih al-Bukhari, 17 ^ Futuh al-Buldan, Abu Ubayd ^ al-Maqrizi, al-Mawa'iz wa'l-I'tibar ^ Zaman, Islamic Economics: A Survey ..., 2008: p.111 ^ M.S. Naz (1991) Islami Riyasat men Muhtasib ka Kirdar IRI. 85. ^ Monzer Kahf (1996) Principles of Islamic Economics, IIUM. 41, 115, 123. ^ Ibn Tamiyah, Public Duties in Islam, Leicester: The Islamic Foundation, 1981. ^ a b Khan, Introduction to Islamic Economics, 1994: p.83 ^ a b c d e f Nomani & Rahnema, pp. 55–58 ^ Nomani & Rahnema cite Quran 4:29, Quran 2:275 and Quran 2:279 ^ Nomani & Rahnema cite Quran 5:1, Quran 16:91, Quran 23:8, Quran 17:34 and Quran 70:32 ^ Nomani & Rahnema cite Quran 2:282. ^ Khan, Introduction to Islamic Economics, 1994: p.10 ^ Nomani & Rahnema cite Quran 55:9, Quran 26:181–183, Quran 11:84–85. They also point out that a chapter is devoted to such fraudulent practices: Quran 83:1–3 ^ Reported by Ahmad and al-Hakim ^ Farooq, Riba-Interest Equation and Islam, 2005:p.33 ^ " Sharia
Sharia
calling". The Economist. 2009-11-12.  ^ "Islamic finance: Big interest, no interest". The Economist. The Economist Newspaper Limited. Sep 13, 2014. Retrieved 15 September 2014.  ^ " Bank
Bank
of London and the Middle East". Zawya.com. Retrieved 12 July 2013.  ^ referring to Siddiqi, 1983 (Mohammad Nejatullah SIDDIQI. Issues in Islamic Banking [Leicester: The Islamic Foundation, UK, 1983), in Munawar IQBAL and Philip Molyneux. Thirty Years of Islamic Banking: History, Performance and Prospects [Palgrave, 2005], p. 125 ^ K-al-Mabsut, Al-Sarakhsi, Shamsuddin ^ Uyun-al-Akhbar, ad-Dinawri ^ Meinhaj Hussain (June 2010). "Economic Model". 2.0  ^ "Savings & Investments Noorbank". www.noorbank.com. Retrieved 2018-01-31.  ^ a b c Foster, John (11 December 2009). "How Sharia-compliant is Islamic banking?". BBC News. Retrieved 22 September 2016.  ^ Kuran, "The Economic Impact of Islamic Fundamentalism," in Marty and Appleby Fundamentalisms and the State, U of Chicago Press, 1993, pp. 302–41 ^ "The Discontents of Islamic Economic Mortality" by Timur Kuran, American Economic Review, 1996, pp. 438–42 ^ Tobin, Sarah A. (2014). ""Is it really Islamic?"". In Wood, Donald C. Production, Consumption, Business and the Economy: Structural Ideals And ... Emerald Group Publishing. p. 139. Retrieved 23 September 2016.  ^ a b Halliday, Fred, 100 Myths about the Middle East, Saqi Books, 2005 p. 89 ^ Pipes, Daniel (September 26, 2007). "Islamic Economics: What Does It Mean?". Jerusalem Post. Retrieved 5 August 2015.  ^ Farooq, Riba-Interest Equation and Islam, 2005: p.34 ^ Monzer KAHF. "Islamic Banks: The Rise of a New Power Alliance of Wealth and Shari'ah Scholarship," in Clement HENRY and Rodney WILSON (eds.). The Politics of Islamic Finance
Islamic Finance
[Edinburgh University Press, 2004], pp. 17-36. ^ Farooq, Riba-Interest Equation and Islam, 2005: p.27 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.317 ^ Farooq, Riba-Interest Equation and Islam, 2005: p.36 ^ Farooq, Riba-Interest Equation and Islam, 2005: p.33 ^ Farooq, Riba-Interest Equation and Islam, 2005: p.31 ^ Syed Nawab Haider NAQVI. Ethics and Economics: An Islamic Synthesis [U.K.: The Islamic Foundation, 1981], p.124 ^ Khan, What Is Wrong with Islamic Economics?, 2013: p.xvi ^ Zaman, Asad (2008). "Islamic Economics: A Survey of the Literature". ssrn.com. Religions and Development Research Programme. Retrieved 2 June 2017. 

Books, articles[edit]

Addas, Waleed (2008). Methodology of Economics: Secular versus Islamic. IIUM. ISBN 978-983-3855-28-5.  Al-Amine, Muhammad
Muhammad
al-Bashir Muhammad
Muhammad
(2008). Risk Management in Islamic Finance: An Analysis of Derivatives Instruments in Commodity Markets. Leiden: Brill. ISBN 978-90-04-15246-5.  Bakhash, Shaul (1984). The Reign of the Ayatollahs. Basic Books.  Behdad, Sohrab; Nomani, Farhad, eds. (2006). Islam
Islam
and the Everyday World: Public Policy Dilemmas. Routledge. ISBN 0-415-36823-5.  Chapra, M. Umar. Islam
Islam
and the Economic Challenge. Leicester, UK: Islamic Foundation.  Farooq, Mohammad Omar (November 2005). The Riba-Interest Equation and Islam: Re-examination of the Traditional Arguments. SSRN 1579324 .  Halliday, Fred (2005). 100 Myths about the Middle East. Saqi Books.  El-Gamal, Mahmoud, 2009. "Islamic finance," The New Palgrave Dictionary of Economics, Online Edition. Abstract. Maududi, S. Abul A'al ((no date)). Ahmad, K., ed. Economic System of Islam. Translated by Husain, R. Lahore: Islamic Publications. Retrieved 1 March 2018.  Check date values in: date= (help) JALIL, ABDULLAAH; RAMLI, ASHARAF MOHD; SHAHWAN, SYAHIDAWATI (2014). THE FOUR INTRODUCTORY THEORIES OF FIQH MUAMALAT (PDF). Nilai, Negeri Sembilan,: WISDOM PUBLICATION.  Kahf, Monzer (2003). "1. Relevance definition and methodology of Islamic Economics" (PDF). monzer.kahf.com. Retrieved 7 April 2017.  Khan, Feisal (2015-12-22). Islamic Banking in Pakistan: Shariah-Compliant Finance and the Quest to Make Pakistan More Islamic. Routledge. ISBN 9781317366539. Retrieved 9 February 2017.  Khan, Muhammad
Muhammad
Akram (2013). What Is Wrong with Islamic Economics?: Analysing the Present State and Future Agenda. Edward Elgar Publishing. Retrieved 26 March 2015.  Khan, Muhammad
Muhammad
Akram (1994). Introduction to Islamic Economics
Economics
(PDF). Islamabad, Pakistan: THE INTERNATIONAL INSTITUTE OF ISLAMIC THOUGHT and INSTITUTE OF POLICY STUDIES. ISBN 1-56564-079-9. Retrieved 28 September 2016.  Khan, Muhammad
Muhammad
Akram (2013). What Is Wrong with Islamic Economics?: Analysing the Present State and Future Agenda. Edward Elgar Publishing. Retrieved 26 March 2015.  Koehler, Benedikt (2014). Early Islam
Islam
and the Birth of Capitalism. Lexington Books.  Kuran, Timur (2004). Islam
Islam
and Mammon: The Economic Predicaments of Islamism. Princeton University Press. Retrieved 6 June 2017.  Kuran, Timur (1997). "The Genesis of Islamic Economics: A Chapter in the Politics of Muslim
Muslim
Identity". Social Research. 64 (2): 301–338.  _____ (2008). "Islamic economic institutions," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract. Mirakhor, Abbas. Theoretical Studies in Islamic Banking and Finance. Islamic Publications International.  Naqi, Syed Nawab Haider. Ethics and Economics: An Islamic Synthesis. Leicester, UK: Islamic Foundation.  Nomani, Farhad; Rahnema, Ali. (1994). Islamic Economic Systems. New Jersey: Zed books limited. pp. 7–9. ISBN 1-85649-058-0.  Presley, John R., and John G. Sessions (1994). "Islamic Economics: The Emergence of a New Paradigm," Economic Journal, 104(424), [pp. 584–596. Roy, Olivier (1994). The Failure of Political Islam. Harvard University Press. pp. 132–47.  Siddiqui, Muhammad
Muhammad
Nejatullah. Muslim
Muslim
Economic Thinking. Leicester, UK: Islamic Foundation.  Venardos, Angelo M. Islamic Banking & Finance in South-East Asia: Its Development & Future. Singapore: World Scientific Publishing.  Weiss, Dieter (1995). Ibn Khaldun
Ibn Khaldun
on Economic Transformation. International Journal of Middle East Studies. 27.  Zaman, Asad (June 2008). Islamic Economics: A Survey of the Literature (PDF). International Islamic University of Islamabad (IIUI). Munich Personal RePEc Archive. Retrieved 29 September 2016. 

Torts[edit]

A. Basir Bin Mohamad. "The Islamic Law of Tort: A Study of the Owner and Possessor of Animals with Special
Special
Reference to the Civil Codes of the United Arab Emirates, Lebanon, Tunisia, Morocco, Sudan and Iraq" in Arab Law Quarterly V.16, N.4 2001 "Vicarious Liability: A Study of the Liability of the Guardian and his Ward in the Islamic Law of Tort" Arab Law Quarterly V. 17, N.1 2002 Immanuel Naveh. "The Tort of Injury and Dissolution of Marriage at the Wife's Initiative in Egyptian Mahkamat al-Naqd Rulings" in Islamic Law and Society Volume 9, Number 1, 2002 Islamic law of tort Liaquat Ali
Ali
Khan Niazi, 1988 An outline of Islamic law of tort Abdul-Qadir Zubair, 1990

External links[edit]

Economic Insaf, An Islamic Economics
Economics
Framework from GrandeStrategy. Putting Faith into Finance, HSBC
HSBC
article on Islamic finance. Shamshad Akhtar et al., "Understanding Islamic Finance: Local Innovation and Global Integration", Asia Policy, July 2008. Mohammad Omar Farooq, Riba, Interest and Six Hadiths: Do We Have a Definition or a Conundrum? Mahmoud el-Gamal, "An Economic Explanation of the Prohibition of Riba in Classical Islamic Jurisprudence", Rice University, Houston, Texas. Methodology of Economics: Secular versus Islamic Islamic Economics
Economics
booklist

v t e

Schools of economic thought

Pre-modern

Ancient schools Medieval Islamic Scholasticism

Early modern

Cameralism Mercantilism Physiocrats School of Salamanca

Modern

American (National) Anarchist Austrian Birmingham Classical English historical French Georgism German historical Lausanne Malthusian Marginalism Marxian Mutualism Neoclassical Neomercantilism Ricardian Socialist

20th and 21st century

Behavioral Buddhist Capability approach Carnegie Chicago Circuitism Constitutional Ecological Evolutionary Feminist Freiburg Institutional Keynesian Modern monetary theory Monetarism
Monetarism
(Neo-Monetarism) Neo-Keynesian Neo-Malthusian Neo-Marxian Neo-Ricardian New classical New institutional New Keynesian Organizational Post-Keynesian Public choice Regulation Saltwater/freshwater Stockholm Structuralist Supply-side Thermoeconomics Virginia

Related

History of economic thought History of macroeconomic thought Economics Mainstream economics Heterodox economics Post-autistic economics Degrowth World-systems theory Economic systems

v t e

Islamic studies

Arts

Arabesque Architecture Calligraphy The garden Geometric pattern Literature Music Poetry Pottery Influences on Western art

Economics

History Agency Banking Capitalism Poverty Socialism Trust Usury Welfare

History

Timeline Historiography Early social change Early conquests Golden Age World contributions to Medieval Europe Reception in Early Modern Europe

Law and politics

Anarchism Democracy

consensus consultation

Feminism Jurisprudence

use of analogy decision-making schools

Peace Quietism Secularism Early social change State

Philosophy

Early Contemporary Theology

dialectic

Ethics Logic Astrology Early sociology

solidarity

Medieval science

Timeline Alchemy and chemistry Astronomy

cosmology

Geography and cartography Inventions Mathematics Medicine

ophthalmology

Physics Psychology

Other fields

Arab Agricultural Revolution Education

teaching permission elementary school

Sufi studies

mysticism cosmology philosophy

v t e

Islam
Islam
topics

Outline of Islam

Beliefs

God in Islam Tawhid Muhammad

In Islam

Prophets of Islam Angels Revelation Predestination Judgement Day

Five Pillars

Shahada Salah Sawm Zakat Hajj

History Leaders

Timeline of Muslim
Muslim
history Conquests Golden Age Historiography Sahaba Ahl al-Bayt Shi'a Imams Caliphates

Rashidun Umayyad Abbasid Córdoba Fatimid Almohad Sokoto Ottoman

Religious texts

Quran Sunnah Hadith Tafsir Seerah

Denominations

Sunni Shia Ibadi Black Muslims Ahmadiyya Quranism Non-denominational

Life Culture

Animals Art Calendar Children Clothing Holidays Mosques Madrasas Moral teachings Music Philosophy Political aspects Qurbani Science

medieval

Social welfare Women LGBT Islam
Islam
by country

Law Jurisprudence

Economics

Banking Economic history Sukuk Takaful Murabaha Riba

Hygiene

Ghusl Miswak Najis Tayammum Toilet Wudu

Marriage Sex

Marriage contract Mahr Mahram Masturbation Nikah Nikah Mut‘ah Zina

Other aspects

Cleanliness Criminal Dhabiĥa Dhimmi Divorce Diet Ethics Etiquette Gambling Gender segregation Honorifics Hudud Inheritance Jizya Leadership Ma malakat aymanukum Military

POWs

Slavery Sources of law Theological

baligh kalam

 Islamic studies

Arts

Arabesque Architecture Calligraphy Carpets Gardens Geometric patterns Music Pottery

Medieval science

Alchemy and chemistry Astronomy Cosmology Geography and cartography Mathematics Medicine Ophthalmology Physics

Philosophy

Early Contemporary Eschatology Theological

Other areas

Astrology Creationism (evolution) Feminism Inventions Liberalism and progressivism Literature

poetry

Psychology Shu'ubiyya Conversion to mosques

Other religions

Christianity

Mormonism Protestantism

Hinduism Jainism Judaism Sikhism

Related topics

Apostasy Criticism of Islam Cultural Muslim Islamism

Criticism Post-Islamism Qutbism Salafi movement

Islamophobia

Incidents

Islamic terrorism Islamic view of miracles Domestic violence Nursing Persecution of Muslims Quran
Quran
and miracles Symbolism

Islam
Islam
port