Islamic Financial Economy and Islamic Banking

Dr Masudul Alam Choudhury is Professor and International Chair of the Postgraduate Program in Islamic Economics and Finance, Faculty of Economics, Trisakti University, Jakarta, Indonesia. He is a Visiting Professor at the Social Economy Center, Ontario Institute for Studies in Education, University of Toronto.Professor Choudhury is the pioneer in the field of the epistemological treatment of Islamic Economics and Finance over the past 35 years by way of his original works in this area.He is the Editor-in-Chief of the SCOPUS-listed and Australian ABDC JEL-catalogued journal HIJSE (Humanomics: International Journal of Systems & Ethics) currently in its 33rd year of publication. His works have been reviewed by the Times Higher Education Supplement, Economic Journal, Southern Economic Journal, Middle East Review and Journal of Economic Literature.

• The tawhidi methodology with implication in Islamic economics as an embedded socio-scientific system contra-Islamic mainstream reasoning. The philosophy of knowledge in Islam and its implications on the generality and specifics of the world-system. Religion and social economics. Appendix to chapter 3: non-parametric representation of what integration between economics and religions means in the evolutionary learning methodological worldview. Generalized system view of maqasid as-shari'ah. The performance measures of Islamic banking based on the maqasid framework. Shari'ah market in global implications. A generalized Islamic development-financing instrument. The role of zakah in mainstream economic model. Human potential, wellbeing and philanthropy: a philosophico-financial economic inquiry. The Islamic panacea to global financial predicament: a new financial architecture. Statistical appendix to chapter 10: data on critical financial crisis indicators. Is there possibility for Islamic financial economics and Islamic banking? (A post-orthodoxy criticism).

’Masud Chowdhury is a leading scholar in Islamic finance and banking. In this book, he demonstrates his deep understanding of the ethical implications of Islam for these activities. Aspects covered include philosophy, applied topics, social welfare effects and policy issues, just to mention a few. All who have an interest in this subject will profit from reading this book.’ Clement Tisdell, The University of Queensland and Fellow of the Academy of Social Sciences in Australia