Acknowledgments xiii
Selected List of Acronyms xvii
Introduction xxi
Chapter 1 The Islamic Economist/Activist 1
Khurshid Ahmad
Early Influences:Muhammad Iqbal, Muhammad
Asad, and Sayyid Abul A'la Mawdudi 3
Operationalising Islam: Sayyid Abul A'la Mawdudi and Jama'at-e-Islami 5
Milestone: First International Conference on Islamic Economics 8
International Influence: Islamic Economics as an Academic Discipline 10
Spreading the Message Abroad: Europe and the Islamic Foundation in the United Kingdom 14
Islamisation of the Pakistani Economy 15
Islamic Economics versus the Narrow Pursuit of Profit 19
Forty Years On: The Wood for the Trees 21
The Last Word 24
Chapter 2 The Very First Mover 25
Saeed Bin Ahmed Al Lootah
Always Begin at the Beginning 27
Dubai: The Environment 30
Dubai Islamic Bank: Early Response 32
First Islamic Banking Conference—May 1979, Dubai 34
Development and Challenges 35
DIB, UAE, and Corporate Governance 39
Hajj Saeed, Dubai, and the Islamic Economy 41
Forty Years On 43
The Last Word 45
Chapter 3 The Well of Influence 47
Prince Mohamed Al Faisal Al Saud Germination 48
Catalysis: The Establishment of Dar Al-Maal Al-Islami 52
The Business of DMI: Navigating Uncharted Waters 58
Current Holdings 62
Forty Years On: ''The Aura Is Much Bigger than the Reality'' 64
''The Muslim World Went to Sleep'' 72
''Eventually, I Think, Everybody Will Become a Salafi'' 77
The Last Word 80
Chapter 4 Steadily Spreading the Blessings 81
Saleh Abdullah Kamel
Spreading the Baraka 84
Gone West: Al Baraka in the United Kingdom 88
Advancing the Islamic Economy 91
Islamic Megabank 91
World Zakat Fund 93
The Halal Industry 94
Ask Not What the Community of Islamic Countries Can Do for You 95
Forty Years On: Mechanisms over Maqasid 96
The Last Word 99
Chapter 5 The Systematic Rise of a National Industry 101
Mahathir Mohamad and the Malaysian Story Lead-up to the 1981 Decision 102
Influence #1: Tabung Haji 103
Influence #2: Tunku Abdul Rahman, the OIC, and the IDB 103
Influence #3: Prince Mohamed Al Faisal Al Saud 105
National Steering Committee and Establishing Bank Islam 105
Building an Industry Systematically 108
Setting the Pace and Character of Overall National Economic Development 108
Phase 1: 1983 to 1993—Establishment and Entrenchment 109
Shari'ah-Compliant Financial Instruments 113
Phase II: 1993 to 2000—Liberalisation and Expansion 114
On Growth and Development 116
Islamic Capital Market: Malaysia as a Global Sukuk Leader 117
A Model Nation for Islamic Finance 122
Phase III: 2000 and Beyond—Internationalisation 126
The Better System 127
Thirty Years On: And Still Much More to Be Done 132
The Last Word 137
Chapter 6 The Islamic Economist 139
Abbas Mirakhor
The Second Stage of Islamic Economics 141
Risk Transfer and the Global Financial Crisis 145
Humanity 147
''In Islam, the 'Other' Doesn't Exist'' 151
IMF and Islamic Finance 152
Forty Years On: The Wood for the Trees 155
Building the Roads to a Better Economy 158
The Last Word 160
Chapter 7 The Global Standard-Setter 161
Rifaat Ahmed Abdel Karim
Accounting for a New Paradigm 163
AAOIFI: A Landmark in the...
