This excellent study offers a critical analysis of the Islamic economic system, particularly as ithas evolved in Pakistan after being defined by the traditional ulma and embellished by variousIslamic economists. It is a pioneering effort to present a comprehensive view of the issuesinvolved, from riba to the status of women in Islam. These issues are encompassed in a broaderdiscussion of the country's identity: was Pakistan to be an Islamic state or a Muslim state?