The Financial Crisis - From An Islamic Perspective

Causes and Remedies of the Recent Financial Crisis From an Islamic Perspective As the leading authority on modern Islamic finance in the world today, no one was better qualified to speak for Islam at the annual World Economic Forum following the global financial crisis in 2010. In his address, Mufti Taqi Usmani pointed out that the so-called crisis only came about when it knocked at the doors of the wealthy.' Otherwise, as Mufti Usmani astutely points out, the true crisis is ongoing and unless fundamental changes are made to the worlds economic system, that crisis will continue. In the pages of this slim volume, the reader will find a concise study of the fundamental flaws in the global economic system, and the eternal principles articulated by the Shariah of Islam that point to a solution. - Yusuf Talal DeLorenzo, Shariah Consultant to Global Financial Institutions Mufti Taqis paper, written in the context of global financial crisis, calls for universal change in our attitude toward the treatment of money and the role of financial system in our lives. His is a timely call for overhauling the economic system based on values and principles. A must read for all who are concerned about the current affairs of our financial system. - Nazim Ali, Director, Islamic Finance Project, Harvard Law School | Harvard University View Sample Pages About the Author Mufti Taqi Usmani is one of the few leading contemporary scholars of today. He studied at Darul Uloom Karachi, Pakistan, the renowned institute established by his late father, Mufti Shafi Usmani. He also holds a degree in law and as a result was a Judge at the Sharia Appellate Bench of the Supreme Court of Pakistan till recently. He has held the post of deputy chairman of the Jeddah based Islamic Fiqh (Law) Council of the Organization of Islamic Conference (OIC) and is now a permanent member. Mufti Taqi Usmani has been teaching at the same institute over the last four decades and currently teaches Sahih al-Bukhari. Alongside his expertise in Islamic Law, Economics and Hadith, he has authored over forty books in Arabic, Urdu and English on various topics.