In 2009, it is estimated that the Muslim population in Egypt reached 78,51 million, or 94.6% of Egyptians is Muslim (Scott & Jafari 2010, 6). Islam influence created a unique case for Egypt as...Show moreIn 2009, it is estimated that the Muslim population in Egypt reached 78,51 million, or 94.6% of Egyptians is Muslim (Scott & Jafari 2010, 6). Islam influence created a unique case for Egypt as a developing country. From the period of the 1950s until 2000s, there have been multiple attempts to apply different economic reforms in Egypt. However, the reforms also affected the concept of Islamic revival in the context of setting the guidelines to practice business. This thesis focuses on the implication of neoliberalism concept, especially in terms of wealth accumulation from the year 1970s. Arguably, neoliberalism also shaped the Islamic practice into the notion of ‘pious neoliberalism’ in Egypt. The phenomenon of ‘pious neoliberalism’ will be analyzed through the emergence of the Islamic Banking and Finance (IBF) and the halal food industry in Egypt and the practicality of it. The research concludes that there is a new phenomenon of Islamization that is distinct from the predecessors by embracing the idea of neoliberalism and capitalism. The research, thus, explores how this new phenomenon of Islamization, shaped by pious neoliberalism, is distinct from the predecessors by embracing the idea of neoliberalism and capitalism.Show less
