Pakistan, Islam and Economics: Failure of Modernity

This book offers a critical analysis of the Islamic economic system, as defined by the traditional ulama and embellished by some Islamic economists. It’s a pioneering effort to present a comprehensive view of the issues involved, from riba to the status of women in Islam. The discussion is in the framework of the question concerning the identity of the country. Was Pakistan to be an Islamic state or a Muslim state? Although arguments by both traditionalists and modernists are available, these are scattered in various books. The author has tried to combine them in a single volume, along with his own critical analysis of the subject matter. His views, both controversial and insightful, examine the arguments of Maulana Abul Ala Maudoodi and Dr. Anwar Iqbal Qureshi as representative of the mainstream theory, and he presents views of Prof. Fazalur Rehman and Syed Yaqub Shah as the proponents of the modern interpretation of riba. As an informative and critical assessment of the endeavours made to Islamize the system the book will be a welcome addition to the body of literature available on the economy of Pakistan.