How do modern Muslims adapt their traditions to engage with today's world? Charles Tripp's erudite and incisive book considers one of the most significant challenges faced by Muslims over the last sixty years: the challenge of capitalism. By reference to the works of noted Muslim scholars, the author shows how, faced by this challenge, these intellectuals devised a range of strategies which have enabled Muslims to remain true to their faith, whilst engaging effectively with a world not of their own making. The work is framed around the development of their ideas on Islamic socialism, economics and the rationale for Islamic banking. While some Muslims have resorted to confrontation or insularity to cope with the challenges of modernity, most have aspired to innovation and ingenuity in the search for compromise and interaction with global capitalism in the twenty-first century.

This book aims to explore and analyse Islamic Moral Economy (IME) as an alternative economic and social system to capitalism and socialism. It proposes a new model of Islamic development, integrating global development within an Islamic framework of spiritual development. It is argued that the failure of Muslim countries to provide basic necessities and an environment free of oppression and injustice can be overcome with this authentic Islamic development framework. In addition, this book can be an important study to identify the theological, political, social and economic boundaries for changing the society to produce IME oriented developmentalism.

The revival of madrasas in the 1980s coincided with the rise of political Islam and soon became associated with the "clash of civilizations" between Islam and the West. This volume examines the rapid expansion of madrasas across Asia and the Middle East and analyses their role in society within their local, national and global context. Based on anthropological investigations in Afghanistan, Bangladesh, China, Iran, and Pakistan, the chapters take a new approach to the issue, examining the recent phenomenon of women in madrasas; Hui Muslims in China; relations between the Iran’s Shia seminary after the 1979-Islamic revolution and Shia in Pakistan and Afghanistan; and South Asian madrasas. Emphasis is placed on the increased presence of women in these institutions, and the reciprocal interactions between secular and religious schools in those countries. Taking into account social, political and demographic changes within the region, the authors show how madrasas have been successful in responding to the educational demand of the people and how they have been modernized their style to cope with a changing environment. A timely contribution to a subject with great international appeal, this book will be of great interest to students and scholars of international politics, political Islam, Middle East and Asian studies and anthropology.

Interrogating the development and conceptual framework of economic thought in the Islamic tradition pertaining to ethical, philosophical, and theological ideas, this book provides a critique of modern Islamic economics as a hybrid economic system. From the outset, Sami Al-Daghistani is concerned with the polyvalent methodology of studying the phenomenon of Islamic economic thought as a human science in that it nurtures a complex plentitude of meanings and interpretations associated with the moral self. By studying legal scholars, theologians, and Sufis in the classical period, Al-Daghistani looks at economic thought in the context of Sharī'a's moral law. Alongside critiquing modern developments of Islamic economics, he puts forward an idea for a plural epistemology of Islam's moral economy, which advocates for a multifaceted hermeneutical reading of the subject in light of a moral law, embedded in a particular cosmology of human relationality, metaphysical intelligibility, and economic subjectivity.

Since the financial crisis of 2007/2008, a renewed discussion on the ethics and finance is being examined from different dimensions – finance for good society, responsible finance, ethical finance, financial crimes, and financial repression. The principal objective of this Handbook on Ethics of Islamic Economics and Finance is to provide a deeper understanding of the ethical underpinning of Islamic economics and finance. The reader will notice that the Handbook reflects a diversity of views on the subject of economic and business ethics in Islam across the intellectual spectrum of Muslim thought over the globe. Handbook attempts to find answers to some questions concerning the definition and characteristics of the ethical system in Islam. What is its goal and how do its rules and practices ensure welfare for individuals and society? Are the moral principles universal and invariable or do they change and adapt with the social changes of communities and progress in science and technology? Is the present generation accountable for the welfare of future generations? Where is the boundary between law and ethics and who guarantees their adoption and implementation?

This primer is an introductory text to rediscover the principles of commerce and economics revealed in the Qur'an, espoused by the Sunnah (practices of the Prophet Muhammad), and understood by the jurists. Islam offers three moral principles of economic organization: ownership, wealth creation, and wealth circulation. Based on these principles, Islam and Economics derives a framework of operational institutional tenents for the economic organization of a society. It addresses all important business, policy, and equity issues that any economic system should resolve and broadens the discussion on the modern discipline of "Islamic economics."

The Islamic perception of the socio-economic process is dynamic and its insistence on social justice is uncompromising. To produce the best social structure, according to this view, man’s economic endeavours should be motivated by a meaningful moral philosophy. In the face of the challenges presented by the modern world, the practice of Islamic economics raises many complex and profound issues. These are addressed in this highly important work, which must be considered essential reading for all those who live in the vision of the ‘right’. First published in 1994.