I. Introduction It is no secret that Islamic countries have entered a new epoch in which serious questions regarding the nature of their economic institutions have taken on renewed urgency. During the past few years, elan debates have taken place, both nationally and internationally, among specialists in economic sciences, specialists in traditional Islamic disciplines, and intellectual exponents of various Islamic political movements. Inherently complex, the discourse, which appears in academic and semi‐ academic publications as well as the popular press, is made distinctly more complex as it often takes place in an extremely volatile environment, which has been shaped by severe economic crises, political turmoil, and social unrest.
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