Contemporary Perspectives in Islamic Economics (original) (raw)
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Islamic Economics, epitomized largely by Islamic Banking and Finance, has received a serious global attention especially in the last two decades. From writings on the evils of the dominant capitalist economics which is characterized by interest, exploitation and economic injustice, and expounding the Economic principles of Islam; Islamic Economics has grown into a full-fledged discipline which has also led to the birth of a new crop of economic and financial institutions all over the world. There is a growing interest in Islamic Economics in the academic world as also in global economic and political circles. The objective of this paper is to analytically present an overview of Islamic Economics, highlighting some of the most important stages that finally led to its emergence and fruition as both an independent academic discipline and a key contributor to the development of the international economy.