Building Genuine Islamic Financial Institutions

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Featured Writings on Islamic Economics

Guide to my writings on Islamic Economics

See also: Islam & Money -- which lists papers & talks on Islamic views on Money

Many are working on practical steps towards building genuine Islamic Institutions, as opposed to the effort to Islamize Western ones. Some theoretical issues, discussing why Islamization is unlikely to work, are discussed in my article on Rebuilding Islamic Societies. 

Closely Related to the spirit of this paper, but in an entirely different dimension is a AUDIO talk of a presentation I made in Bali Indonesia:

Macro-Prudential Regulations in an Islamic Framework. This talk shows that Islam offers a three dimensional framework for regualtion which covers aspects not within scope of conventional approaches. It includes, social, spiritual and instititutional components.

Practical Efforts have been made by a group at Zuflah to create training materials for businesses wishing to Islamize their operations in spirit as well as in form. A document in Urdu, describing the Shariah principles for Trade (Tijarat) is attached below.

The spirit of capitalism is the pursuit of wealth as an end in itself, to the point of being absolutely irrational (Max Weber)

The Islamic spirit of business is cooperation and service.   

The paper is attached below. It is also available on the Islamic Economist Blog.