By Zafar Iqbal, Mervyn K. Lewis
Zafar Iqbal and Mervyn ok. Lewis fill the distance in Western literature on governance concerns from the viewpoint of Islamic economics. Islamic and Western viewpoints are in comparison, and a scientific research of key parts in governance from an Islamic viewpoint is equipped. the quantity attracts on classical Islam and modern assets to supply a accomplished Islamic governance framework to distinction with the Western place.
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Additional info for An Islamic Perspective on Governance (New Horizons in Money and Finance)
The result is that those who know Islam find it difficult to actualize its principles through institutional means that have evolved within a Western context; and the ones familiar with the Western concepts find a compulsion to drag whatever they know about Islam towards the framework with which they are familiar. How to get these two streams to begin to interact in the spirit of discovering the truth, and actualizing it, is a major challenge for Muslim countries. THE WESTERN PERSPECTIVE The roots of the modern Western scholarship on social sciences stretch back to Greek thought and its emphasis among other things on the study of being or existence (ontology), knowing (epistemology), and acting as a person (ethics).
According to Kamali (1998), Islamic legal thought has, on the whole, been preoccupied with ensuring conformity with the letter of the Divine text, and the legal science of usul-al-fiqh has facilitated this pursuit (p. 400). As we shall see later, this is an important issue surrounding judicial issues on the legality of Islamic financial instruments. Arguably, one major reason for this state of affairs is the education system in many Muslim countries that produces graduates familiar with The methodology of Islamic economics 37 the modern social sciences but having little awareness of the distinctive methodology of Islam.
Consequently, there is in Shi ism no great body of laws and legal thinking comparable to that found in Sunnism. In spite of such differences the mainstream Shi ite position on many matters comes within a hair’s breadth of Shafi i understanding. This may ultimately be attributed to the singularity of source material especially the Holy Qur an among both Shi ites and Sunnis. Thus the sources of shari ah are the Holy Qur an and the sunnah (the primary sources) and the interpretations and opinions of the learned jurists (the secondary sources).
An Islamic Perspective on Governance (New Horizons in Money and Finance) by Zafar Iqbal, Mervyn K. Lewis