Islamic Economics Project

June 2026 issue (Vol 6, Issue 6) of Moral Reflections on Economics features

• “Integrative Methodology of Islamic Economics: A Note” by Prof. Dr. Tariqullah Khan, CEO and Principal Economist, Ventureethica, Toronto, Canada.

• “Beyond Pork and Alcohol: What Halal Compliance Really Means in the Modern Era” by Dr. Nezir Khan.

• Highlights of IFSB Report 2026 by Muhammad Hammad.

• Book review of “The Great Escape” by Prof. Angus Deaton.

• Research paper in focus on “Assessing Universal Basic Income: An Islamic Historical and Maqāşidī Perspective” by Prof. Abdulazeem Abozaid and Saqib Hafiz Khateeb.

• Regular sections of reflections, market news, economic and financial indicators and call for papers.

Rate this:

Key Highlights of the Islamic Finance Stability Report 2026

By hammadiep on June 8, 2026 • ( Leave a comment )

Islamic Finance Stability Report 2026 with global market, technology, risk, and sustainability sectors

The global Islamic financial services industry reached $4.4 trillion in assets in 2025, with growth in banking, capital markets, and insurance sectors. Islamic banking remains dominant, but non-banking segments are growing faster. The industry is concentrated in GCC and EAP regions (75% of assets). Sukuk markets expanded to $1.10 trillion, with strong growth in sustainability and climate-related issuances. Islamic insurance grew double-digit, driven by emerging markets and mandatory insurance requirements.

Rate this:

Beyond Pork and Alcohol: What Halal Compliance Really Means in the Modern Era

By hammadiep on June 7, 2026 • ( Leave a comment )

Global halal compliance concept integrating blockchain, supply chain, product traceability, digital logistics, lab testing, hygiene standards, and source verification technologies

For many consumers, halal simply means avoiding pork and alcohol. Yet in today’s globalised world of complex supply chains, food technology, cosmetics, pharmaceuticals, and automated manufacturing, determining whether a product is genuinely halal has become far more challenging.

Rate this:

Integrative Methodology of Islamic Economics: A Note

By hammadiep on June 6, 2026 • ( Leave a comment )

The methodological contribution of Shaikh (2026) is to formulate, more sharply than most of the literature, the choice between an assimilative economics that prices the sacred and a distinctive economics that abandons the analytical, and to argue – on the strength of World Values Survey evidence of broadly shared moral and market attitudes – that the discipline should occupy neither pole but an integrative middle. That diagnosis is sound, and the integrative impulse is the correct one. Its limitation is structural rather than substantive: Shaikh (2026) integrates the scope of analysis while partitioning its method, housing market and beyond-market behaviour under one disciplinary roof but assigning each its own separate toolkit. The result is integration by segregation, a one- dimensional fork resolved by keeping the two domains apart, and the seam shows wherever a single decision carries mixed motives.

Rate this:

Reply to the Second Rejoinder: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 15, 2026 • ( Leave a comment )

This is reply to the second rejoinder written by authors of the book “Breaking the Trap of Debt, Inflation, Interest and Poverty” while responding to the book review.

Rate this:

Second Rejoinder: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 14, 2026 • ( Leave a comment )

The is second rejoinder to the book review of Breaking the Trap of Debt, Inflation, Interest and Poverty. Original review can be accessed at: https://islamiceconomicsproject.com/2026/05/08/breaking-the-trap-of-debt-inflation-interest-and-poverty/

Rate this:

Reply to the Rejoinder: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 13, 2026 • ( Leave a comment )

It is encouraging to see the commitment of the authors to engage with criticism of their proposal. Such efforts to engage with critical issues of the economy and society are highly respectable and deserve appreciation. Some further clarifications are humbly provided in response to the rejoinder by the authors.

Rate this:

Rejoinder on Review: Breaking the Trap of Debt, Inflation, Interest and Poverty

By Islamic Economics Project on May 12, 2026 • ( Leave a comment )

Rejoinder on the Book Review: Breaking the Trap of Debt, Inflation, Interest and Poverty. Original review can be seen at: https://islamiceconomicsproject.com/2026/05/08/breaking-the-trap-of-debt-inflation-interest-and-poverty/

Rate this:

Beyond Prohibitions: Unveiling the Hidden Dynamics of Islamic Economics and Finance

By hammadiep on May 9, 2026 • ( Leave a comment )

Book titled Islamic Finance Principles Practice and Innovation by Dr. Abdullah Al-Hassan with intricate gold and teal Islamic design

This research paper provides a theoretical reframing of the objectives underlying Islamic economics and finance. While Islamic finance is largely known for avoiding specific prohibitions—such as Riba (interest), Gharar (excessive ambiguity), and Maysir (gambling)—critics argue that it has become operationally identical to conventional finance. The author argues against this phenomenon of ‘Shariah arbitrage’, where the outward form is Islamic but the substance remains conventional.

Rate this:

Breaking the Trap of Debt, Inflation, Interest and Poverty

By hammadiep on May 8, 2026 • ( Leave a comment )

The book by Qanit Khalilullah and Sohaib Umar offers a critique of the modern fractional-reserve banking system, arguing that it is the primary engine behind chronic economic instability, inflation, and wealth inequality. The authors propose a radical macroeconomic transition to a full-reserve banking model. This proposal is specifically tailored as a structural panacea for Pakistan’s crippling debt crisis, while simultaneously being framed as a genuine path to establishing a Shari’ah-compliant Islamic financial system.

Rate this:

Rate this:

Rate this:

Rate this:

Rate this:

Rate this:

Rate this:

Rate this:

Rate this:

Rate this:

Reflections on the Origins in the Post COVID-19 World

Islamic Economics Project

Islamic Economics and Finance Videos

Subscribe to Islamic Economics Letters

Follow Us