International Institute of Islamic Economics
The International Institute of Islamic Economics (IIIE) is a leading academic entity under the auspices of the International Islamic University, Islamabad. Initially known as the Institute for Social Studies, IIIE has played a significant role in pioneering and promoting the study and application of Islamic economics on a global scale.
Etymology and Translations
- Arabic: معهد الاقتصاد الإسلامي الدولي (Ma’had al-Iqtisad al-Islami al-Dawli)
- Turkish: Uluslararası İslam Ekonomisi Enstitüsü (Uluslararası İslam Ekonomisi Enstitüsü)
Background and Overview
The International Institute of Islamic Economics was established as a premier institution advocating for the Islamic economic paradigm, entrenched in Sharia, aimed at marrying modern economic practices with Islamic principles. The institute’s genesis as the Institute for Social Studies marked the beginning of its mission to address socio-economic challenges through research grounded in the Islamic tradition.
Academic Programs and Training
The institute notably organizes senior officers’ training programs, enriching public and private sectors with leaders knowledgeable in Islamic economics. This initiative has fostered a network of practitioners who are well-versed in integrating Islamic ethos in economic practices.
Significantly, the IIIE has developed an impressive body of Ph.D. graduates, with considerable backing from global entities including the U.S. Agency for International Development (USAID). This academic initiative bolsters the institute’s global reputation for excellence in Islamic economic research.
Key Contributions
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Research and Development:
- IIIE actively engages in pioneering research that shapes the discourse in Islamic economics. The institution’s contributions have been instrumental in forming theoretical and practical frameworks that are utilized worldwide.
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Policy Impact:
- Graduates of the IIIE have made inroads in policy-making realms, influencing economic policies that align with Islamic teachings.
Relations with the International Islamic University, Islamabad
The institute is part of the International Islamic University, Islamabad (جامعة الإمام الدولي الإسلامي), an eminent institution encompassing various faculties and departments designed to advance Islamic education and its various branches of knowledge.
Suggested Books for Further Study
- “Introduction to Islamic Economics” by Munawar Iqbal
- “Islamic Economics and Finance: A European Perspective” by Jonathan Langton and Colin Brenner
- “Islamic Banking and Finance in South-East Asia” by Masudul Alam Choudhury
Takeaways and Conclusions
The International Institute of Islamic Economics stands as a cornerstone for academic and practical advancements in the realm of Islamic economic thought. By fostering critical training and research, it significantly contributes to integrating Islamic values within modern economic frameworks on a global level.
For anyone interested in deepening their understanding of how Islamic principles can guide economic systems, studying the legacy and ongoing contributions of the IIIE provides an enriching perspective.
