MUSLIM ECONOMISTS

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Muhammad Yunus (1940 – ) is an American-educated economics professor who used money from Bangladeshi and European government agencies to establish a bank in Bangladesh to make no-interest micro loans so very poor women could start tiny businesses.
He was awarded the Nobel Peace Prize in 2006.
Politicians in Bangladesh seized control of the bank. Muslim clerics refused to allow Muslim burial of women who had been given micro loans.
Masatoshi Gündüz Ikeda  was a Pakistani economist with a PhD in economics from Yale who steered Pakistan toward capitalism.
Mohammad Baqir al-Sadr (1935 – 1980) was an Iraqi religious leader hired by Kuwait to devise the religious principles of Islamic banking.
Sultan Qabus (1940 – ) was responsible for the modernization of Oman.

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professor_muhammad_yunus-_building_social_business_summit_8758300102

Muhammad Yunus

MICRO LOANS
Muhammad Yunus (1940 – ) was an American-educated economics professor who used money from Bangladeshi and European government agencies to establish a bank in Bangladesh to make no-interest micro loans so very poor women could start tiny businesses.
He was awarded the Nobel Peace Prize in 2006.
Politicians in Bangladesh seized control of the bank. Muslim clerics refused to allow Muslim burial of women who had been given micro loans. [Perhaps because microloans made women less dependent upon men.] Muhammad Yunus received an award from an Ismaili Shia Sevener organization, so I presume he was an Ismaili Shia Sevener.
Another person involved with microcredit in Bangladesh was Akhtar Hameed Khan (1914 – 1999).

CAPITALISM
Azizul Haque (1919 – 2012) wrote a book titled “Capitalism Socialism and Islam”.
Masatoshi Gündüz Ikeda (1926 – 2003) was a Pakistani economist with a PhD in economics from Yale. As Pakistan’s Minister of Finance from 1982 until 1988, he introduced deregulation of the economy, and steered Pakistan toward capitalism.

ISLAMIC BANKING
Mohammad Baqir al-Sadr (1935 – 1980?) was an Iraqi religious leader hired by Kuwait to devise the religious principles of Islamic banking.

Shah Abdul Hannan (1939 – ) received a master of political science degree in 1961 from the University of Dhaka in Bangladesh. and was the director of Islami Bank Bangladesh Ltd and is a founding member of the Central Shariah Board of Islamic Banks.
He believes that women should be permitted to work at the same jobs as men except for jobs such as in mining or driving large trucks (lorries), and that women should receive an education equal to that which men receive, but preferably on separate campuses.
“Islam gives high priority to family, high priority to sexual purity and they [Americans] think sex is like commodity”.

SAUDI ARABIA
Sheikh Ali A. Tamimi founded in 1953 the Tamimi Group in Saudi Arabia, originally to build oil pipelines for Aramco (Arab American Oil Company). After his death, his heirs have run the group of companies, which in partnerships with American technology companies provides oil and gas drilling services.

OMAN
Sultan Qabus (Qaboos bin Said Al Said) (1940 – ) has since 1970 been the sultan of Oman, which has a trade office in Tel Aviv Israel. He was trained as a military officer at Sandhurst in England, and was responsible for the modernization of Oman.
[When the author of the en.wikipedia list of names of Muslim scientists included Qabus (a Persian Islamic Golden Age military ruler who died in 1012) as an “economist”, he probably made an error and had Qabus confused with Sultan Qabus.]

INDONESIA
Bacharuddin Jusuf Habibie (1936 – ) earned a master’s degree in aircraft construction engineering at the Institute of Technology in Germany.
He became Indonesia’s minister of technical development and eventually president of Indonesia.

RANKING STANDARD OF LIVING
The Pakistani economist Mahbub ul Haq (1934 – 1998) (with a PhD from Yale) co-invented a composite statistic (of life expectancy, education and income) to replace income alone in ranking countries.

Image by University of Salford Press Office, via Wikimedia Commons.

Image credit https://commons.wikimedia.org/wiki/File:Professor_Muhammad_Yunus-_Building_Social_Business_Summit_(8758300102).jpg#mw-jump-to-license

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