ISLAMIC ECONOMIC INSTITUTIONS IN INDONESIA: ARE THEY SUCCESSFUL IN ACHIEVING THE MAQASAD-AL-SHARI'AH - ADVANCES IN RESEARCH ON ISLAMIC ECONOMICS AND FINANCE 2. This item is unavailable.ISLAMIC ECONOMIC INSTITUTIONS IN INDONESIA: ARE THEY SUCCESSFUL IN ACHIEVING THE MAQASAD-AL-SHARI'AH - ADVANCES IN RESEARCH ON ISLAMIC ECONOMICS AND FINANCE 2

Islamic institutions have had a very long history, whose performance was muted during the Colonial Period. However, after the Second World War, the revival of the Islamic institutions began. Throughout its history, it had been assumed that these institutions are working for the betterment of humanity. Their target is to achieve a high level of the welfare for the concerned community. Historically these institutions were waqf, zakat and sadaqat. However from the last three decades, Islamic financial institutions have been established with the objective of providing interest- free products, transaction and services for Muslims. However there has been lot of criticism on the performance and role of these institutions. This becomes especially pertinent in a Muslim country like Indonesia, where there is a dire need to know that how these institutions are working and if it is possible for them to achieve the objectives of the Shari'ah. Some scholars have claimed that these institutions are performative and only serving 'lip service', and there are no significant differences between the Islamic and secular institutions where both kinds of institutions operate on the same foundations and differ only in use of technical terminologies. This volume aims to analyze some of the Islamic institutions which are operating in the world's biggest Muslim country, Indonesia, as a case study and analyze the contemporary Islamic Banking products and practices in the light of 'Maqasad al-Shari'ah'. The book's objective is to propose an improved system of Islamic institutions for Muslims to refer to. This volume will also analyze why these institutions are currently not able to comply with the Maqasad al Shari'ah and how it is possible to enhance the level of economic development, social wellbeing, individual freedom and equality, elimination of injustice and poverty, and achieve the other targets of the Maqasad through these institutions.

Toseef Azid is a professor of Economics at the College of Business and Economics, Qassim University, Saudi Arabia. He holds a PhD in Economics from University College of Wales, Aberystwyth, UK (1993). He received an Overseas Research Scholarship from the British government, and had been an Fulbright Award Scholar in Residence (2006). He has taught in Pakistan, Brunei, the UK, the USA, and Saudi Arabia. His research focuses on technological change, labor economics, Islamic economics, and Islamic finance. He has published nine books (as a sole author and co-authored); one is published in Pakistan (Some Basic Principles of Islamic Economics) while four others are published by Routledge, UK (Labor in Islamic Setting: Theory and Practice; Social Justice and Islamic Economics: Theory, Issues and Practice; Foundations of a Sustainable Economy: Moral, Ethical and Religious Perspectives; Labor Economics in an Islamic Framework Theory and Practice) and two more published by Emerald (Corporate and Shari'ah Governance in the Muslim World: Theory and Practice; Monetary Policy, Islamic Finance, and Islamic Corporate Governance: An International Overview).

Muhammad Syafii Antonio has over 16 years of experience in Islamic Banking and is a renowned expert in Islamic Economics and Finance. He holds a PhD in Finance from University of Melbourne, and obtained his Master of Economics from International Islamic University Malaysia (IIUM), and a first degree in Islamic Law from the University of Jordan along with completing an Islamic Studies program from Al Azhar University Cairo, Egypt. He has published more than 42 books on Islamic banking, economics, zakat, management and leadership. He is currently serving as board of commissioner and Shari'ah advisor in several Islamic financial institutions, as well as a member of Central Bank's Expert Committee Banking and National Shari'ah Council.

Dr Zafar Kayani is currently Associate Professor at Economics Department, Trent University, Ontario, Canada. He earned his PhD in Economics from Washington State University, USA. He has published scholarly articles in academic journals on such topics as foreign aid and macroeconomic performance, financial markets and Islamic finance. He is also a visiting faculty of York University, Canada. He had previously served in the faculty of Bahrain University and International Islamic University, Pakistan. He has supervised several PhD and graduate student of Economics. His interest in the teaching of financial economics and Islamic banking and finance led to contributions in books in the fields.

Murniati Mukhlisin is currently a Rector, at Tazkia University College of Islamic Economics, Bogor, Indonesia. She earned her bachelor's degree in Islamic accounting from International Islamic University of Malaysia (IIUM), and a Master's degree from University of Indonesia,and subsequently, a PhD from University of Glasgow, United Kingdom. Murniati has working experiences in banking, financial and IT services. Murniati started her career as a lecturer in Islamic Accounting and Finance in 2002 and she is currently a certified in Islamic Accounting. She has taught at the University of Glasgow in 2014 and Essex Business School, University of Essex, Colchester, UK from 2015 to 2017. Her research interest is in the areas of financial reporting, Islamic accounting, Islamic banking/finance, and Islamic financial literacy. She has authored ten books and international journal papers, as well as hundreds of articles published in national and international media. She is known for her book called Sakinah Finance which is concerned with Islamic family finance.