The Origins of Accounting in the Islamic Economics and Finance System

  • Samir Alamad


It is necessary to understand the historical development of Islamic accounting here in this chapter (Chap. 4). Herein, I discuss the concept of an accounting system and its objectives as outlined in the Islamic economics and finance system in the Islamic empire from its inception over 14 centuries ago. Moreover, I examine the historical development that the accounting systems underwent within the framework of the Islamic economics and finance. It explains the most important types of accountancy, accounting terminologies, accounting practices, accounting roles, audit and internal controls that were known in the Islamic economics and finance system at that time. I analytically examine the components of the Islamic accounting system in terms of its principles, basis and foundational structure.


  1. Abdul Salam, M. Saeed. (1980). Accounting in Islam, Dar al-Bashayyer, Jeddah.Google Scholar
  2. Abdul Wahab, M. Taher. (1984). Administrative Control in the Islamic Administrative System, Proceedings of the Symposium on Islamic Systems, Part I, Abu Dhabi, 18-20-0 1405 AH/11-13 November 1984, p. 255.Google Scholar
  3. Al-Bukhari, M. (1985). Sahih Al-Bukhari, Damascus: Dar Al-Fikr.Google Scholar
  4. Al-Hasab, F. Abbas. (1984). Al-Mawardi in the Theory of General Islamic Management, Arab Organization for Administrative Sciences, Department of Research and Studies, No. 282, Amman, Jordan.Google Scholar
  5. Al-Jaleel, Muqdad A. Yahya. (2001). Historical Development of Accounting in Iraq, Journal of Development of Rafidain, No. (63), 2001, p. 154.Google Scholar
  6. Al-Nuwairi, Shahabuddeen A. Abdel Wahab. (1998). End of Literature in the Arts of Literature, Egyptian General Establishment of Composition and Publishing, Cairo.Google Scholar
  7. Al-Qalqashandi, Abu al-Abbas bin Ali. (1963). Sobh al-A'shi in the al-Ansha industry, photocopy, Emiri Edition, Cairo.Google Scholar
  8. Al-Saleh, Subhi. (1987). Islamic Systems - Its Origin and Evolution, 4th ed., Dar Al-Ilm for Millions, Beirut.Google Scholar
  9. Attieh, M. Kamal. (1982). Accounting Systems in Islam, Knowledge Establishment in Alexandria, Alexandria.Google Scholar
  10. Attieh, M. Kamal. (1983). Accounting Systems in Islam, 2nd ed, Al Ma'aref Establishment, Alexandria.Google Scholar
  11. Attieh, M. Kamal. (1984). Accounting Companies in Banks in the Islamic System, International Federation of Islamic Banks, Al-Aref Establishment, Alexandria.Google Scholar
  12. Ibrahim, M. H. (2007). The Yen Dollar Exchange Rate and Malaysian Macroeconomic Dynamics. The Developing Economies,XLV-3 (September 2007): 315–38.CrossRefGoogle Scholar
  13. Lashin, M. El-Morsi. (1977). Accounting Organization for Public Funds in the Islamic State, Lebanese Book House, Beirut.Google Scholar
  14. Mustafa, Mahmoud. Hilmi. (1970). Islamic Ruling Compared to Modern Systems, Dar al-Fikr al-Arabi, Cairo.Google Scholar
  15. Tarabzouni, Mohieddin. (1984). The Islamic Financial System, Proceedings of the Symposium on Islamic Systems, C2, Abu Dhabi 18-20, 1405 AH / 11-13 November 1984, p. 112.Google Scholar
  16. Yahya, Z. Hashim and L. Mohammed Ayoub. (1995). Financial Control in Islam, Journal of Development of Rafidain, No. 45, Faculty of Management and Economics, University of Mosul, 1995, p. 246.Google Scholar
  17. Yahya, Z. Hashim. (2013). The scientific rooting of the accounting system in the Islamic state, research paper, University of Mosul.Google Scholar
  18. Zaid, Omar. (1995). Financial Accounting in the Islamic Society, Part One, Historical and Theory Framework, Dar Al Yazuri, Amman, Jordan.Google Scholar

Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Samir Alamad
    • 1
  1. 1.Head of Sharia Compliance & Product DevelopmentAl Rayan BankBirminghamUK

Personalised recommendations