DefinePK

Abstract

Islamic Economics has been a very central social issue of concern for all. Including banking and other types of social trade such as: the issues of property, interest, and mortgage still need the proper solution under the rubric of Islamic law and jurisprudence. The constitution of the Islamic Republic of Pakistan has undergone a lot of developments in terms of the reinforcement in this regard. However, the role of Islamic Institutions in the country is also very central. The current study has focused on the endeavors put in by the Islamic Research Institute (IRI) Islamabad as to how it has been successful in spreading the Islamic commandments in the country through Islamic education and research on Islamic Economics. It is the need of the hour to find out the solution of the contemporary economic issues under the rubric of Islamic domains. It also requires a change in the concurrent economic laws in order to facilitate the common readers and researchers to easily probe into the legalities and possibilities in promulgating the processes of Islamic economics in the country. IRI has really been striving for the remedies to the challenges and issues on monetary scaffolding as per Islamic Law. The translations from Arabic to Urdu carried out under the supervision of IRI besides their work in modifying the rules in Islamic economics has served the purpose that has been assigned to them through the constitution of Pakistan to reformation and establishment of a real Islamic society through Islamic education and research. The current study will also discuss the literature published by the IRI and its brief analysis in order to assess the guidance provided by the Institute on Islamic Economics.