Critiques of Islamic Economics

My paper criticizes the dominant approach to Islamic Economics:

Crisis in Islamic Economics: Diagnosis and Prescriptions

The main idea is that Islamic Economics has compromised essential by accepting too many western ideas about economics.

There are many critiques of Islamic Banking. Javed Ansari considers it a tool for capitalist economies to extend their control over Muslim Countries. Vadillo considers the spirit of Banking, which generates saving and wealth, to be incompatible with Islamic emphasis on spending on others. Thus banking cannot be islamized.

Some scattered material on Islamic Banking and Finance (not well organized) is available here: [link]

1: Fatwa Shopping by Islamic Banks: Courtesy: BBC News [December 11, 2009]

http://news.bbc.co.uk/2/hi/business/8401421.stm [http://finance.groups.yahoo.com/group/IEF-Review/message/538

2: An unusual critique is based on the idea that Islamic Economics is SUNNI and therefore there is a need for a separate field for SHIA economics. This has been labeled DIVINE Economics. See the link for a detailed discussion of objections to this idea.

3: Timur Kuran is a big critic, and has many articles and books attacking the fundamental concepts of Islamic Economics and Finance. A recent newspaper article is HERE.

URDU MATERIALS:

The controversy about Islamic Banking:

Murawwaja Islami Bankaree == Urdu book containing Fatwa of Maulana Saleemullah Khan against current forms of Islamic Banking.