Read e-book online Islamic Economics and Finance: An Epistemological Inquiry PDF

By Masudul Alam Choudhury

ISBN-10: 0857247212

ISBN-13: 9780857247216

This booklet is the research of general-system formalism that embeds economics and finance with the diversely created world-system during which 'everything' learns via natural pairing. The interpreting of the monstrous nexus of unifying courting in connection with awake oneness is the morality, ethics and finish aim of a great society. This e-book will convey out the truth that certainly such multidimensional general-system perception, building, formalism and alertness and inference there from, are empirically doable, explainable. The publication has empirical examples to convey out those evidence when it comes to the logical formalism that arises from the phenomenological version of unsleeping oneness in courting to economics and finance.

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Extra info for Islamic Economics and Finance: An Epistemological Inquiry

Example text

The latter extracts extended meaning out of the divine law of the Qur’an. The meeting ground of the Qur’an and the Sunnah that comprises the fundamental epistemology in Islam is like the meeting of ocean waters with the shores. Without this embankment the ocean waters would overflow the planet earth making life impossible. 20,21 The essentially nonconfigurative and pervasively relational character of the macrocosmic universe is the abode of the primal knowledge stock. This knowledge stock is created by Allah and remains undiminished.

4. 1. Tawhid Oneness of God or Islamic monotheism is traditionally encapsulated in the Qur’anic term, Ahad (the Divine One) leading to the term Tawhid. But being so, the traditionalists have left the understanding of Tawhid to the metaphysical ontological realm. For a long time now the functional ontology of Tawhid and its relationship with the world-system have not been understood, and not pursued. Thereby, the understanding of Tawhid has not been taken up with the comprehensive meaning of divine oneness, specifically in terms of its relationship with the world and the Hereafter.

2. Traditional understanding of Tawhid Traditionally, the ontology of Tawhid has been explained by three aspects (Taqi-ud-Din Al-Hilali, and Muhsin Khan, undated): First, Tawhid al-Rububiyyah means that Allah alone is the absolute lord of creation. In this, Allah is the creator and sustainer of the universes. Second, Tawhid alUluhiyyah means that none else in mind or form can be worshiped except Allah as the one and absolute in His purity having no form. Thirdly, the attributes of Allah are His own and cannot be exemplified by the worldly meanings of such attributes.

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Islamic Economics and Finance: An Epistemological Inquiry by Masudul Alam Choudhury

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