Islamic Finance: From Niche To Mainstream In The Academic World

Abdul Azim Islahi

MPRA Paper from University Library of Munich, Germany

Abstract: Not very long ago the practicability of Islamic banking and finance was not taken seriously, and writing on such topics was considered simply a mental exercise in vain. Opportunity of teaching and learning Islamic economics, banking and finance was unheard. But the situation at present has completely changed. At present it is the most discussed and practiced area of Islamic economics. It has received global recognition. Now there is a vast variety of degree programmes in the Western universities, with different specializations. The present paper aims to shed light on the rapid development of Islamic finance in the academic circle all over the world. At the concluding note it strongly recommends for keeping close tie between its theoretical development and practical advancement.

Keywords: Islamic Banking; Islamic Finance; History of Islamic Banking and Finance; Objectives of Islamic Finance; Islamic Economics. (search for similar items in EconPapers)
JEL-codes: B26 B29 B5 G00 Z1 (search for similar items in EconPapers)
Date: 2014, Revised 2014
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Published in Islamic Banking and Finance Review 1.1(2014): pp. 37-48

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