The Pakistan Economy on the Way to Re-Islamization: Problems and Perspective
Argues that Pakistan is not an Islamic state in the strict sense of the term. Traces the history of Islamisation of the economy in Pakistan and concludes that the Government had little success in Islamising the economy. The nationalised banks, which are in the process of Islamisation, face a number of problems. Descriptive. For economists. Documented.
The Pakistan Economy on the Way to Re-Islamization: Problems and Perspective
Monetary and Financial Theory and Institutions
Economic Development and Islamic Institutions: Islamic Banks and Islamic Common Market
Monetary and Financial Theory and Institutions
Restatement of Normative Economics: Western Approaches and Islamic Perspective
Subject Matter And Scope Of Islamic Economics
‘The Faisal Islamic Bank of Cyprus’, A Model for a “Commercial Development Bank?”
Middle East Business and Banking
Inter-Islamic Economic Cooperation and Integration
Paper presented to the Conference on International Integration - Outward Oriented Policies and Implementation in the Newly Industrialising Countries organised by the Centre for European and Middle Eastern Studies of Istanbul University in Girne (Turkish Republic of Northern Cyprus). Attempts by OIC countries to liberalise trade by tariff reduction have not been fruitful. Instead some countries have tried the concept of joint venture, i.e. movement of capital across borders. But it cannot bring the dream of an Islamic Common Market any nearer in the absence of trade liberalisation. A Customs Drawback Union could be a solution to this problem. Turkey could play a pioneering role in this regard. For economists. Analytical. Documented.
The Impact and Potential of Islamic Economic Cooperation in the World Economy
Studies the structural characteristics of Islamic countries in general, the structure of trade flows among the Islamic countries and between them and the rest of the world. Analyses the impact and potential of the Islamic development financing institutions in promoting economic cooperation and development in a global context. Analytical. For economists. Documented.
Inter-Islamic Economic Cooperation and Integration
Discusses the problems and prospects of the Islamic countries’ efforts to form an Islamic common market. The Investment Agreement of the OIC is a major step in this direction. But without appropriate trade liberalisation measures, the Agreement would favour the. large and advanced Islamic countries as against the small and relatively under-developed African Islamic countries. The answer is a Customs Drawback Union. In the last section, the author examines the prospects of economic cooperation for Turkey. For economists. Based on primary sources. Documented.
Economic Development through Regional Cooperation: A Customs Drawback Union of Islamic Countries
Paper for the International Seminar on ‘Fiscal Policy and Development Planning’ held in July 1986 at Islamabad organised by I.I.I.E. The past experience of common markets and regional integration among Afro-Asian countries was not very encouraging. The main reason was the reluctance of governments, on political grounds, to forego their advantages for the sake of regional integration. The proposal of customs drawback union avoids the pitfalls of customs unions, although the precise cost-benefit cannot be worked out for Islamic countries, Analytical. For economists. Based on primary sources. Documented.
Islamic Economics, Finance and Banking - Theory and Practice
in Islamic Banking and Finance
Epistemology, Methodology and Economic Policy: Some Thoughts on Mainstream Economics
Discusses positive/normative distinction and instrumentalism in political economy. Argues that normative economics can adopt methodological pluralism which justifies consideration of such unconventional methods as are pleaded by Austrian economists and Muslim economists. Austrian methodology accepts value judgements provided that they are conceived in a defensible ethical system. The Muslim economists are trying to adopt various formulations of 19th-century welfare economists. The Muslim economists should try to present theories which explain the functioning of an economic system where people act according to the Shari'a. In this approach they should try to explain and analyse everything rationally except the very basic premises. A scholarly paper. For Economists. Based on primary sources. Documented.
Taking an Interest in Profit
Monetary and Financial Theory and Institutions