Rapid growth in economic development in the Islamic world and its increasing migration to non-Islamic countries has raised interest in business and commercial activities underpinned by the Shariah principles. Over the past two decades several Islamic countries have put in place policies and strategies to enhance the economic development and global competitiveness. Many of these initiatives uphold the ethical business practices through equitable distributive justice in wealth creation and are Shariah-compliant.
This book examines some of the challenges encountered in the development and promotion of Islamic businesses and some of the best practices that have enabled several Islamic economies and its sectors to become global players. Drawing from the broad perspectives of Islamic business and socioeconomics, this book is structured into three sections that cover macroeconomic analysis; financial sector development; and microeconomic analysis.
Islamic Business: Contemporary Issues and Economic Development provides a window into a wide spectrum of topics that apply Shariah principles in the areas of finance, economics, marketing and international business. Discussions from the case studies presented in this book provide valuable insights for other developing countries, both Islamic and non-Islamic to enhance sector level competitiveness and broader socioeconomic well-being using humanistic value system.
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