Islam and Economics: A Primer on Markets, Morality, and Justice

by Ali Salman, Abdullah bin Hamid Ali (Foreword)

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 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."

Genres: Islam

160 pages, Paperback

Published June 23, 2021

Reviews

[Zeyad Zaky · Rating 4 out of 5]

Pretty solid introduction and primer as it is meant to be. Definitely seems to be leaning towards a capitalist positive view which is fine I just wish there more details about how the Islamic tenets map to any kind of economic framework or if it is indeed meant to be vague. Either way regardless of the author’s personal view they did an excellent job mentioning Islamic fundamentals as well as providing clear and non biased critiques where needed. It’s my first book on Islamic Economics and I think it was a good place to start.

[Silverprince · Rating 4 out of 5]

The author created a neatly packaged academic-like book on introducing Islamic Economics (or Finance). I enjoy reading intellectual, research or academic pieces of writing, so this book was rewarding for me. The writing style is intricate and riveting to me.

I appreciate how detailed and accurate the book tries to be in separating what is truly Islamic and what was just practised by the first few generations of Muslims, and what they were doing before that. For example, the gold dinar is not a Muslim thing per se, it was what civilisation has been doing for years in that region.

It would've been a 5/5 book, but I wish more comparisons were done with the Western thinking of Economics or Asian thinking. That way, it would help me differentiate more easily between Islamic Economics and conventional Economics. All in all, thank you Ali Salman.