International Institute of Islamic Thought

Protection from inflation, as related in Mahmood Ahmad Ghazi's foreword, is a difficulty central to interest-free economics. Currency values have been falling as never before. Purchasing power has been dropping continuously. Indexation, a practice opposed by most Islamic scholars, has been raised as a potential means of dealing with the problem. The author's foreword relates the Council of Islamic Ideology's decision against indexation and the contrary Sindh High Court's ruling that loans be repaid with purchase power indexation.

The author attempts to contrast Islamic economics with what he sees to be the failures of the neo-classical approach to the discipline. The neo-classical method is viewed as based on incorrect assumptions. The outlook is seen to have a limited approach. Furthermore, the system is an unfeeling one. The author holds that such a way of economic thinking has led to multiple difficulties in the world. It is felt that humanity needs a new system. The author wishes to provoke consideration of the Islamic approach. The work is arranged in six chapters.