The emergence of contemporary Islamic economics: a sketch of its historical development

Abstract

Islamic economics or economics from an Islamic perspective is actually not a new discourse in Muslim scientific tradition. Its roots have been evolved since the earlier period of Islamic civilization emerged. The discussion on economic issues from an Islamic perspective had started earlier and flourished when Muslim scholars dominated the world scientific tradition. The paper attempts to survey the origin of Islamic economic thought and portray its evolution towards becoming a discipline in contemporary times with its own body of knowledge, subject matter. methodology and theories. The future direction of the discipline is also highlighted with some evaluations of the current state of affairs.