Islamic Economic Development, Plicy & Public Finance & Sustainable Development: Volume 4 (Notes on Islamic Economics)

This is the fourth in a series of four books on Notes on Islamic Economics. It deals with three important subjects: 1) the Money and development theory in Islamic economics, 2) Islamic public finance, and 3) sustainable development in the Muslim countries. In part one, we discuss the Islamic development theory, money as a central issue in development and inflation. This part consists of chapters one to seven. Chapter one deals with the Islamic theory of economic development, chapter two deals with the role of government in economic development, chapter three deals with money in Islamic economics, chapter four discusses inflation, chapter five discusses economic policy and its tools Islamic economics and chapters six and seven deal with issues of privatization in Islamic perspectives. Part two consists of five chapters; eight through twelve and deals with public finance and part three deals with sustainable development for the Muslim countries in chapters thirteen through sixteen. The conclusion of this book looks for the future of Islamic economics. The theme of my argument in all of them is that the Islamic system looks at economic development is a process determined by the institutional set up of a society which is changeable only by changing the value/cultural system of the society. The religion of Islam attempts to implant values conducive to development and prepares human beings to undertake necessary changes which bring about economic progressiveness. Besides, there are many similarities between Islamic and conventional economics when it comes to the general objectives and approaches while a number of details differ considerably.

Monzer Kahf Website: www.kahf.net Present position: Professor of Islamic Finance and Economic, Faculty of Islamic Studies, HBK University, Doha, Qatar. Monzer Kahf has a strong training and knowledge of Islamic Jurisprudence (Fiqh) and Islamic Studies. He got his Ph.D. in Economics (Monetary theory and development) from the University of Utah, Salt Lake City, USA 1975. He served as research economist, head of research division and senior research economist at Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IDB), Jeddah (Saudi Arabia) from 1985 to 1999. He was a professor of Islamic Economics and Banking in the graduate program of Islamic economics and banking, School of Shari’ah, Yarmouk University, Jordan for the year 2004/5. He wrote 35 books and booklets in English and Arabic, on Islamic banking and finance, Islamic economics, Zakah, Awqaf, including some which have become the standard reference manuals in the field. Some of Dr. Kahf's books are translated to Indonesian, Turkish, Russian and Korean languages. He also wrote more than 100 articles, in English and Arabic, on Islamic finance and economics, Islamic public and private finance, Islamic banking, Zakah, Awqaf, including entries for the Oxford Encyclopedia of the Modern Islamic World and other international emcyclopedias. Recently he completed three landmarks of his works; 1) four books under the title of Notes on Islamic Economics: Theories and Institutions, the Third Charitable Sector, Islamic Finance and Banking and Public Finance, Economic Policy and Development, 2) an academic book on Islamic Finance Contracts (English), and 3) an Arabic book on Fundamentals of Islamic Finance. Monzer is active in associations, he is a founding member of the International Association of Islamic Economics, founding member of Association of Muslim Social Scientists of the United States of Canada, and he was part of the American Economic Association. He also advises Islamic and conventional banks, courts and other public institutions on Islamic finance, banking and Islamic endowment (awqaf). He won the President of Syria Award for best University Graduating Student in 1962 and the IDB Prize for Islamic Economics in 2001.