Precisely the kind of book that Western economists have been waiting for.-John Presley, former professor of economics, University of Loughborough A systematic and rigourous exposition of various aspects of the economics of Islam. These essays not only provide an overview of the various dimensions of Islamic economics but also convincingly establish the viability of the application of these concepts in the contemporary set-up. The analysis presented in this book also establishes the amenability of Islamic economics to scientific investigation and hence its conclusions and analysis directly comparable with what is known as the science of Economics. The scope of this book as well as the analytical and rigorous approach used in presenting Islamic economics makes this a useful and perhaps the only book so far available that can be utilized as teaching material in graduate programs in universities both in the East and the West where this subject is taught. It fulfills the need of graduate students of economics in that it provides rigorous reading material to assist them in their course work or in pursuing their own research on the subject. M. Fahim Khan is the president of the Islamic Society of Institutional Economics at the International Institute of Islamic Economics, Islamabad, Pakistan, and is the author of ten monographs on Islamic economics.