Clement M. Henry and Rodney Wilson

in The Politics of Islamic Finance

Published by Edinburgh University Press

Published in print February 2004 | ISBN: 9780748618361
Published online March 2012 | e-ISBN: 9780748653089 | DOI:

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This book has examined the conditions that may facilitate the growth of what appears to be a distinctively Islamic variety of capitalist development, identifying self-consciously Islamist financiers and trying to discover the conditions under which they best thrive. It has found that distinctive financial practices seemed to mobilise the capital which would have otherwise stayed hidden in the mattresses of the MENA region. The processes of economic globalisation, coupled with the steady accumulation of Islamic capital, were deemed to eventually overcome the present barriers to the integration and promotion of a more political pluralism in the region. The studies in this book have identified Islamic capitalism as a natural evolution of gentle commerce. This chapter argues that if big international business can polish the manners of the Bush Administration sufficiently to avert a clash of globalisations, this will aid Islamic finance to promote the steady structural transformation of the region that the essays of this book have envisioned.

Keywords: capitalist development; Islamist financiers; MENA region; economic globalisation; political pluralism; Islamic capitalism; Islamic finance

Chapter.  4396 words. 

Subjects: Society and Culture

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