In Search of an Islamic Economic Model
A concise report of the proceedings of the first advanced course on Islamic banking arranged by the International Association of Islamic Banks, held at Cairo, August 29-September 17, 1981. Describes the programme sequence and scope of the course. Summarises the main papers. The course was intended to impart the realisation to the participants that the existing development models were unsuitable for the Muslim economies. There was a need to develop a Shari'a-based model. The nucleus of the model should be an Islamic bank. The discussions on Islamic banking were quite thorough. The evolution of Islamic banking and insurance and various practical problems were discussed in the light of Islamic law. A very useful part of the course was a discussion of the report of the advisory board of the ‘ulama' on practical difficulties of Islamic banking. The experience of Mit Ghamr Islamic bank and its challenges were also discussed in the course. A very valuable book full of original insights. Meant for bankers and Muslim economists.
In Search of an Islamic Economic Model
Monetary and Financial Theory and Institutions