This book examines whether Islamic finance and Islamic economics is
challenging the orthodoxy of the money markets. Can ethical finance
combined with the prohibition on interest and speculation really
work in the global economy? With a political economy approach, the
book explores how the industry has grown in modern times - from a
short-lived bank in an Egyptian city in the 1960s through to a
global industry that is today valued at US$2.05 trillion. From the
revelation as articulated by the Prophet Muhammed in the seventh
century through to the gleaming 21st century skyscrapers of Dubai
and Kuala Lumpur, the book covers the end of European colonialism,
the controversial utterances of self-styled religious leaders, the
impact of Islamophobia, and the efforts to end poverty through
Islamic microfinance. The book uncovers an industry that is both
profitable and changing the face of contemporary capitalism.
General
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