The Seminar on Islamic Economics (March 28-29, 1987)

Abstract

The International Institute of Islamic Thought sponsored a major seminar
on “Islamic Economics” in North America on March 28-29, 1987 at its
Washington D.C. area headquatters in Herndon, Virginia. The seminar was
coordinated by Dr. Muhammad Anwar, secretary of the Economic Discipline
Council of the Association of Muslim Social Scientists. Although there was
great interest expressed by numerous professors and graduate students of
economics, the registration was limited to seventy participants due to some
temporary physical constraints.
The program began with recitations of the Qur‘an followed by addresses of
Dr. Taha Jabir Al-‘Alwani, President of the International Institute of Islamic
Thought; Dr. ‘AbdulHamid ’Abu Sulayman, President of the Association of
Muslim Social Scientists; and Dr. Raquibuz Zaman, Chairman of the
Economic Discipline Council. A total of nine sessions, including a business
session and a special session for Ph.D. candidates from various universities in
the United States, were held during the two-day seminar which concluded
with a farewell dinner on the final day. Among the highlights were sessions on
Methodology of Islamic Economics, Islamization of Knowledge, Modeling
Macroeconomics, Micmconomics, and Financial Accounting and Comparative
Economics. Eighteen speakers delivered their research papers.
First session on Methodology of Islamic Economics was chaired by Dr.
Abbas Mirakhor of the International Monetary Fund. Dr. Anwar, also of the
International Institute of Islamic Thought, Dr. Salim Rashid of the University
of Illinois, and the famous Islamic economist Dr. Mahmud Abu Saud
delivered their papers on “Methodology of Islamic Economics,” Islamic
Economics: An Historic-Inductive Approach,” and “Research Methodology
for Islamic Economics”, respectively during the session.
Lectures on Islamization of Knowledge were delivered by Dr. Al-‘Alwani,
Dr. ’AbuSulayman, and Dr. Jamal Baninji in the second session.
The third session on Modeling Macroeconomics was chaired by Dr.
Mohsin Khan of the International Monetary Fund. In this session, Dr. Syed ...