Institutional Islamic Economics and Finance  book cover
1st Edition

Institutional Islamic Economics and Finance

Edited By

Ahsan Shafiq

  • Available for pre-order. Item will ship after March 25, 2022
ISBN 9781032130972
March 25, 2022 Forthcoming by Routledge
176 Pages 16 B/W Illustrations

USD $160.00

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Book Description

Institutional economics claims that institutions and policies rather than the size of labour force, technology or capital investment are pivotal for growth or under-development. In this regard there are two kinds of institutions: external institutions expressed in the form of laws, organizations, regulations, companies, banks, and the like and internal institutions, which are found in the hearts and consciences of individuals.

Against this backdrop, this book acquaints readers with the basic concepts related to institutional economics. It then brings to light the theoretical concepts related to the institutional perspectives on Islamic economics, particularly highlighting areas where Islamic economic institutions lay at the crossroads with conventional ones. The book also reflects upon the organizational arrangements that comply with the basic tenets of Islamic institutional economics. Further, it brings a collection of real-world case studies into discussion to show the models of Islamic institutions that are pragmatic in today’s business environment. The book contains novel dimensions on the subject, includes conceptual debates as well as practical examples, and explores hot topics such as waqf and fintech from an Islamic perspective. This is the first book to exclusively cover this topic and is written by well-known and respected international economists from the field.

Since the book is written in an accessible style and the concepts are expressed in plain language, it will find an audience among academics, researchers and students in economics and Islamic economic studies, as well as policymakers and professionals engaged in the Islamic finance industry, seeking to make their services and products conform to an Islamic institutional perspective.

Table of Contents

List of figures

List of tables

List of contributors


Ahsan Shafiq


Abbas Mirakhor

  1. Institutional Structure of the Islamic Economic System
  2. Monzer Kahf

  3. Islamic Economics and Institutional Economics: A Methodological Discussion
  4. Adem Levent

  5. General Principles of Business Contracts in Islamic Law
  6. Muhammad Tahir Mansoori

  7. Repositioning Waqfs in The New Economic Order
  8. Hamdi Çilingir

  9. Conceptualizing the Islamic Social Finance into a Three-sector Economic Model
  10. Mohd Nahar Mohd Arshad

  11. Islamic Social Bank: A Sustainable Banking Approach
  12. Shifa Mohd Nor

  13. Can microfinance be a solution for the social failure of Islamic banks? A linkage model proposal
  14. Mücahit Özdemir

  15. The Justification Process of the Joint-Stock Company as a New Partnership Model in the Islamic World
  16. Omer Faruk Tekdogan & Abdurrahman Yazıcı

  17. Conscious Technology and Technological Change: Artificial Intelligence, Fintech, and Others
  18. Masudul Alam Choudhury

  19. Islamic Multifinance Companies: Disbursement towards Sustainable Financial System for Low-income Groups in Indonesia
  20. Laily Dwi Arsyianti & Resfa Fitri

  21. A New Industry-Academic Partnership Model for Community Entrepreneurship Development: The Case of i-Taajir

Norma Md Saad, Mohammad Aslam Haneef, Mustafa Omar Mohammad & Qurroh Ayuniyyah



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Ahsan Shafiq is a Senior Researcher and the Coordinator at the Research Center for Islamic Economics (IKAM), Istanbul, Turkey.