Islamic Capitalism and Finance
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Islamic Capitalism and Finance

Origins, Evolution and the Future

Murat Çizakça

This illuminating and thought-provoking book questions whether classical Islamic capitalism, which has served Muslims so well for centuries, can provide a viable alternative world economic system. In the current recession – the worst since 1929 – this is surely a provocative question. But if Islamic capitalism is to emerge as a viable alternative, its nature and systems must be well understood.
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Notes on transliteration and pronunciation

Murat Çizakça


All foreign words, excluding foreign names, are italicized except the word waqf and its plural awqaf. These words appear so frequently throughout the text that it has been decided not to italicize them. Throughout the book, I have used the generally accepted forms of Arabic words in Latin alphabet. For Arabic words in Ottoman context, however, I have used the generally accepted Ottoman/Turkish spelling and punctuation. For words that have become part of English in their Arabic versions, then their Arabic transliteration has been preferred. Thus, waqf (and not vakıf) has been used. Turkish words, which have become anglicized, have been kept in the latter form. Thus pasha (and not Paşa) has been used. For those who are unfamiliar with the pronunciation of modern Turkish spelling, the following rudimentary rules (according to Geffery Lewis’s grammar) may be of some help: c is pronounced j as in jam; ç is pronounced ch as in church; g is pronounced as in the word goat; ğ lengthens the vowel preceding it; y sounds like the u in radium; ö and ü as in German könig and führer respectively; and ş is pronounced as sh in shall. xxxii

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