The Schools of Thought of Islamic Economics in the Malay World

This paper has two main objectives. firstly, it attempts to investigate contemporary trends of islamic economic thought of scholars in the malay world, and secondly, to analyse those trends of thought in the context of the theoretical construct of islamic economy. the scholars in the malay world here refer to the scholars of the malay archipelago (peninsular malaysia, east sumatera, indonesian archipelago, and borneo) with a special concentration on malaysia and indonesia. islamic economics here confine to the contemporary mainstream islamic economics. both objectives were accomplished through a textual analysis of the writings on islamic economics by selected scholars in malaysia and indonesia. the results of the analysis were then arranged in the form of three sections. the first section discusses the theoretical construct of the contemporary islamic economics. the second section discusses the trends of the islamic economic thought of the malaysian and indonesian scholars. lastly, the third section concludes those discussions by expressing a clear stance on the questions of the trends of those islamic economic thought.