Islamic Economies

This book explores contemporary empirical issues in Islamic economics. It begins by outlining current trends in Islamic economics and before identifying gaps in the empirical research. It then goes on to discuss the role of institutions in economic growth for Islamic countries, and the fiscal aspects of Islamic economics. It explores issues in debt and growth, as well as the instruments of monetary management in Islamic economics. It analyses the trade-off between growth and stability and concludes with discussion of Zakat and Waqf in driving growth.


Nafis Alam is an Associate Professor at the University of Nottingham, Malaysia. He has been involved in academia related to Islamic finance for nearly a decade. He has co-authored three books in Islamic finance, among them is an Encyclopaedia of Islamic Finance. Nafis is also the founding Director for Centre for Islamic Business and Finance Research (CIBFR) at University of Nottingham Malaysia Campus.

Syed Aun R. Rizvi is an Assistant Professor at Suleman Dawood School of Business at Lahore University of Management Sciences (LUMS), Pakistan. He is also a Research Affiliate of Centre for Islamic Business and Finance Research (CIBFR) at University of Nottingham Malaysia Campus, Malaysia, where he previously served in a similar academic role for over two years. He has considerable industry experience in fund management, as well as a diverse teaching and research background. His research focuses on capital markets in Islamic and emerging economies.