An Integral Approach to Development Economics Islamic Finance in an African Context

Despite economic growth in countries like the author’s native Nigeria, poverty and unemployment blight the lives of the majority of citizens. In An Integral Approach to Development Economics, Basheer Oshodi examines modernization theories, dependency theories, world system theories and emerging 21st century economic theories. He links a neo-modern mix of economic thought with the practicalities of finance in parts of the World where poverty is rife, focusing on the use of Islamic banking and finance in an African setting. Islamic finance is considered in the context of the triple heritage of indigenous culture, Westernized Christianity, and Islam. The author argues and demonstrates that the principles of Islamic banking and finance can be applied in a way that integrates with other elements of that heritage, and meet the challenges of poverty and unemployment.