A new text on Islamic economics is now available for universities and schools offering courses on Islamic economics and finance. Filling the gap where references on Islamic economy lacks in the market, Introduction to Islamic Economics: Theory and Application (Wiley; December 2014; ISBN: 978-1-118-73296-0) offers students, finance professionals and researchers all the key concepts of Islamic economy together into one volume, including a clear explanation of how the conventional global economic system differs from an economy grounded in the fundamental of Islam. Written by Hossein Askari, Zamir Iqbal and Abbas Mirakhor, the book outlines the ways in which Islamic finance and Islamic economics are intertwined.
Introduction to Islamic Economics: Theory and Application provides an overview of the organizing principles, key institutions, and fundamentals of an Islamic economy. With discussion of the characteristics, rationale, objectives and instruments at work, the book addresses the core economic principles underlying a system based on the foundational teachings of Islam, and examines the implications for economic policies. Social welfare, economic justice, market functionality, efficiency, and equity are explored from an Islamic perspective, and the roles of Islamic fiscal and monetary policy are used to illustrate contemporary applications.
Readers will gain an understanding of the goals and objectives of fiscal and monetary policy within the Islamic system and explore the principles that motivate taxation, public borrowing and expenditures, the role of built-in stabilizers, the concept of public-private partnerships and the instruments of monetary policy and their potency.
Students pursuing advanced studies in Islamic economics and finance will find this book as an excellent complement to An Introduction to Islamic Finance: Theory and Practice, 2nd Edition (Wiley; July 2011; ISBN: 978-0-470-82808-3) by Iqbal and Mirakhor.
More information about Introduction to Islamic Economics: Theory and Application is available at the publisher’s website at: www.wiley.com/buy/9781118732960.
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Press contact:
Sharifah Sharomsah
Publicist, WILEY
skbsharoms@wiley.com
(65) 6643 8099
Hossein Askari is the Iran Professor of International Business and International Affairs at the George Washington University. Before coming to GW, he was a professor of Business and Middle Studies at the University of Texas at Austin and assistant professor of Economics at Tufts University. He has also served on the executive board of the International Monetary Fund and as consultant to a number of governments, institutions, and multinational corporations. He received all his university education at the Massachusetts Institute of Technology, where he earned a BS in civil engineering and a PhD in economics.
Zamir Iqbal is a lead specialist at Finance and Markets(F&M) Global Practice of the World Bank. He heads the World Bank Global Center for Islamic Finance Development in Istanbul. He has more than 20 years of experience in risk management, capital markets, and asset management at the World Bank Treasury. Islamic finance is his research focus, and he has coauthored several books on Islamic finance topics such as banking risk, financial stability, and risk sharing. His most recent coedited book, Economic Development and Islamic Finance, was published by the World Bank in 2013. He earned his PhD in international finance from the George Washington University and serves on the professional faculty at the Carey Business School of Johns Hopkins University.
Abbas Mirakhor is currently the first holder of the chair of Islamic Finance at the International Center for Education in Islamic Finance (INCEIF). He served as the dean of the executive board of the International Monetary Fund from 1997 to 2008 and as the executive director representing Afghanistan, Algeria, Ghana, Iran, Morocco, Pakistan, and Tunisia from 1990 to 2008. He has authored numerous publications and research papers on Islamic finance; among them are Introduction to Islamic Finance (Wiley; 2011), Risk Sharing in Islamic Finance (Wiley; 2011), and The Stability of Islamic Finance (Wiley; 2010).
Contact the publicist:
Sharifah Sharomsah
Publicist
skbsharoms@wiley.com
+65 6643-8099