Islam and the Economic Challenge

Presents a history of economic systems of the Western world and their achievements and failures. Suggests that the search for alternative systems to capitalism, socialism and communism need not be confined to the Western experience, and can also include other religio-cultural experiences, particularly an Islamic approach. Spells out the Islamic approach to economics, one which is built upon moral foundations, and again offers its problems. Written in a scholarly style that is also simple and prescriptive. Will be of immense interest to policy makers and students economics. The author is widely recognized for his contributions to Islamic economics, and has been awarded the two most coveted prizes in the field:

The Islamic Development Bank Award for Islamic Economics (1989)

King Faisal International Prize for Islamic Studies (1989)

Dr Chapra is also regarded as among the Top 50 Global Leaders who make the Islamic Economy in 2015 (ISLAMICA 500). Islamic Financial is a massive industry. It currently equates to a two trillion dollar industry. Over 75 countries operate a system of it. As Islamic Finance continues to grow the value of pioneering publications on the subject, such as this one, that look at the philosophical rather than practical purposes are invaluable.