Since interest is prohibited in Islam, this book examines the sustainability of development in a non-interest framework and how a supporting financial system can be built on alternative mechanisms. It explains how various issues in the field of sustainable development relate to Muslim countries. It highlights the fact that sustainable development is emerging as a new economic philosophy that has significant departures from the neo-classical paradigm.

Author Biography

MOHAMMED AKACEM Professor of Economics, Metropolitan State College of Denver, and Adjunct Professor, University of Colorado SALMAN SYED ALI Economist, Islamic Banking and Finance Division, Islamic Research and Training Institute, Islamic Development Bank (IDB) SASVA ALPAY Vice Director, Tobacco and Alcohol Regulation Authority, Turkey MOHAMMAD AL-SUHAIBANI Assistant Professor, Department of Economics & Administrative Sciences, Imam Muhammad University MUHAMMAD HASHIM AWAD Professor, Faculty of Economics and Social Studies, Health Economic Centre (HEC), University of Khartoum ABDEL-HAMEED BASHIR Economist, Policy and Strategic Planning Department, Islamic Development Bank MUHAMMAD UMER CHAPRA Research Advisor, Islamic Research and Training Institute, Islamic Development Bank SEIF EL-DIN I. TAJ EL DIN Associate Professor, Islamic Economics Banking & Financial Systems, Markfield Institute of Higher Education CHERIF GUERMAT School of Business and Economics, University of Exeter FIKRET HADZIC Faculty of Economics, Sarajevo University M. KABIR HASSAN Professor of Finance, University of New Orleans, and Chair of Economic Development and Finance, Louisiana Real Estate Commission ZAMIR IQBAL Principal Financial Officer, Quantitative Strategies, Risk and Analytics (QRA), World Bank Treasury, Washington DC ABBAS MIRAKHOR Executive Director, International Monetary Fund, Washington DC VOLKER NIENHAUS President, University of Marburg MOHAMMED OBAIDULLAH Associate Professor, Islamic Economics Research Center, King Abdulaziz University USAMAH A. UTHMAN Associate Professor of Economics, King Fahd University of Petroleum & Minerals IBRAHAIM WARDE Center for International Studies, Massachusetts Institute of Technology ABD AL-RAHMAN YOUSRI Professor and Head of Department of Economics, Faculty of Commerce, University of Alexandria