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This volume takes a unique and challenging look at how money has operated in Islamic society and at how Islamic theoretical frameworks have influenced perceptions of money. The author draws upon historical, data and policy analysis to present a comparative study of monetary theories, including recent treatment of money by Islamic economists. Discussion also covers the nature of joint venture, stock markets, banks and financial intermediaries, price stability and international trade. This work sheds pioneering light in this area, and will be of interest to academics, graduates and researchers internationally.

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This book studies the absolute reality of the Qur’an, which is signified by the struggle of truth against falsehood in the framework of monotheistic unity of knowledge and the unified world-system induced by the consilience of knowledge. In such a framework the absolute reality reveals itself not by religious dogmatism. Rather, the methodology precisely comprises its distinctive parts. These are namely the ‘primal ontology’ as the foundational explained axiom of monotheistic unity; the ‘secondary ontologies’ as explanatory replications of the law of unity in the particulars of the world-system; ‘epistemology’ as the operational model; and ‘phenomenology’ as the structural nature of events induced by the monotheistic law, that is by knowledge emanating from the law. The imminent methodology remains the unique explanatory reference of all events that take place, advance, and change in continuity across continuums of knowledge, space, and time.

Islamic Financial Economy and Islamic Banking, is a thorough, deeply conceptual, analytical and applied work in the area of epistemological foundation of Islamic world-system. The book presents a new frontier of original contribution to the theme of generalized-system model of shari’ah. The model, derived from the Qur’an and Sunnah (Prophetic guidance) incorporates a wide analytical coverage of the purpose and objective of the Islamic worldview (maqasid as-shari’ah) in Islamic economics and finance in particular. The author covers issues that contrast with the existing understanding of Islamic economics and finance, including some specific goals defining the field and how they compare in today’s unstable world of financial volatility. A new heterodox thinking in economic theory is outlined. The potential as to how such issues can be addressed by the Tawhidi epistemology in formulating the generalized-system model of the purpose and objective of shari’ah lead the way in this book. Its presentation and analysis, methods and approach, overarch the fields of philosophy of science, rigorous analysis, mathematical and other presentations of the understanding given, and all taken up in the light of the exegesis of the Qur’an and coverage of the Sunnah. The result is a substantive one in the field of scholarship and application; and in analytically proving the universality and uniqueness of the epistemic worldview for the academic and practitioner world at large. The totality of the multiverse diversity of issues and problems reviewed comprise the study of the world-system by the Tawhidi methodological approach. Yet this methodology and its empirical configuration are universally applicable to all users without any need for unnecessary religious overtone.

Conventional calculus is too hard and too complex. Students are forced to learn too many theorems and proofs. In "Free Calculus", the author suggests a direct approach to the two fundamental concepts of calculus - differentiation and integration - using two inequalities. Regular calculus is condensed into a single concise chapter. This makes the teaching of physics in step with the calculus teaching.

This volume is a scholarly work on the foundations of the role that the moral and ethical law plays on human enterprise comprising economics, finance, society and science. Divided into three parts, theoretical, empirical and application, the study covers a vast area of socio-scientific investigation and is extensively comparative in perspective.

This book invokes the Tawhidi ontological foundation of the Qur’anic law and worldview, and is also a study of ta’wil, the esoteric meaning of Qur’anic verses. It presents a comparative analysis between the Tawhidi methodology and the contemporary subject of Shari’ah. Masudul Alam Choudhury brings about a serious criticism of the traditional understanding of Shari’ah as Islamic law contrary to the holistic socio-scientific worldview of the unity of knowledge arising from Tawhid as the law. A bold repudiation of the Islamic traditional understanding and the school of theocracy, Choudhury’s critique is in full consonance with the Qur’an and Sunnah. It is critical of the sectarian (madhab) conception of relational independence of facts. Thus the non-creative outlook of Shari’ah contrasts with universality and uniqueness of Tawhid as the analytically established law explaining the monotheistic organic unity of being and becoming in ‘everything’. This wide and strict methodological development of the Tawhidi worldview is articulated in this work. The only way that Tawhid and Shari'ah can converge as law is in terms of developing the Tawhidi methodology, purpose and objective of the universal and unique law in consonance with the ontology of Tawhid. Such a convergence in the primal ontological sense of Tawhid is termed as maqasid as-shari'ah al-Tawhid.

Written by a contemporary pioneer in the area of the universal paradigm and Islamic world-systems, this book offers a fresh post-modernist outlook on new epistemological investigations in the universal paradigm. It addresses the problems of the unity of knowledge in learning systems, thereby invoking the foundations of Islamic epistemology. The author presents a phenomenological model of unity of knowledge in economics, ethics, science and society. Some critical areas where this model can be applied are also explored.As a foundational study on Islamic theory of knowledge covering the fields of Islamic economics, finance, science and society, the book will be valuable to researchers, practitioners and global academic institutions.

The fields of morality and ethics have been left out significantly from socio-scientific study in general and in economics and finance in particular. Yet this book argues that in this age of post-modernist analytical inquiry, the study of morality and ethics is an epistemological requirement. This book illustrates the delimiting nature of mainstream economic reasoning in treating morality and ethics and highlights the potential contribution of analytical monotheism, as typified by the Islamic concept of Tahwid. The principal purpose of this book is to undertake an introductory exploration of the critical area of comparative economic thought in order to place the nature and emergence of ethico-economic theory in its proper context. It is ultimately argued that such a post-orthodoxy revolutionary methodological worldview can be presented by Islamic political economy, Islamic economics and finance.

A comprehensive introduction to an Islamic epistemology for the natural and social sciences. Choudhury builds a philosophy of knowledge from essential sources in the Qur'anic worldview, the Tawhidi creative order, Ghazzali's epistemology, and other examples of Islamic thought to which he compares the foundations of Western epistemology.